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David H. Ibbeken Research Professorship
2002
More than one hundred donors have contributed to the David H. Ibbeken ’71 Research Professorship in Law, most of whom are members of the Class of 1971. The esteem in which David Ibbeken is held by his classmates and other colleagues and friends has made the funding of this professorship possible. David H. Ibbeken received an A.B. degree in political science in 1963 from Princeton University and a J.D. degree in 1971 from the University of Virginia. Mr. Ibbeken served as a lieutenant in the Army Artillery in Fort Lewis, Washington, before teaching and coaching for one year at Mercersberg Academy and serving for two years as an assistant director of admissions at Princeton University. On leaving the Law School, Mr. Ibbeken joined the law firm of Archer, Greiner & Read in Haddonfield, New Jersey. In 1975, he became vice president and counsel for the Continental Title Insurance Corporation also located in New Jersey. In 1979, David Ibbeken returned to Charlottesville and the Law School to become executive director of the Law School Foundation and Alumni Association. He is a member of the general faculty at the Law School. His tireless efforts and dedicated resolve helped ensure the outstanding financial success the Law School has achieved to date. The David H. Ibbeken ’71 Research Professorship in Law will be used as a rotating chair for scholars of distinction.
About This Fund
Information on funds to which you made gifts after June 30, 2012 will be provided next year to allow time for measurable growth.
Many donors may have given to the fund; if so, the amount of your gift(s) is included in the figures noted.
Definitions
Market value is a measure of the value of a fund within the institution's endowment, based on the value of that fund's "shares" of the institution's endowment on a particular date.
Endowment distribution is the earnings that can be spent on the stated fund purpose during a fiscal year. The endowment distribution was not used if a professorship was vacant, a scholarship or fellowship was not awarded, or if a fund's criteria were not met. In this case, the endowment distribution was reinvested in the University's Long-Term Pool endowment for growth.
The University's Endowment Spending Policy
The University’s endowment spending policy calls for annual increases tied to the Higher Education Price Index (HEPI). The current spending policy calls for a 3.8 percent increase in the annual distribution, unless such increase causes the distribution to fall outside a range that is 4.0 percent on the low end, and 6.0 percent on the high end, of the previous June 30 market value of the University of Virginia Investment Management Company (UVIMCO) Long Term Pool. If the distribution falls outside of this range, the Finance Committee may recommend resetting the distribution rate to an appropriate level.
For the 2012 fiscal year, application of the endowment distribution policy resulted in a spending distribution equal to 4.63 percent of the June 30, 2011, market value.
You may also read more about the University's endowment on the UVIMCO website at http://www.virginia.edu/uvimco. This site provides the most current information about the performance of the overall endowment fund.