KNOXVILLE, Tenn. — The University of Tennessee Foundation, Inc. Board of Directors held its annual meeting on June 12, 2026, in Knoxville, marking 25 years since the organization’s founding, and a quarter century of record-setting philanthropic growth across the UT System.
Since its establishment in 2001, the Foundation has grown annual fundraising from $100 million to more than $615 million in the current fiscal year; a sixfold increase that underscores the extraordinary generosity of UT’s donor community. That sustained momentum has expanded access for students across every UT campus, attracted world-class faculty and fueled life-changing research with impact far beyond Tennessee.
“Twenty-five years ago, we set out to change what was possible for the University of Tennessee,” said UT Foundation President and CEO Kerry Witcher. “The growth our organization has seen is proof of what happens when an extraordinary donor community meets an extraordinary team. I am humbled, grateful and proud, and I am excited about what is to come.”
Board Leadership Transitions
Board Chair Alan Wilson was recognized for two years of distinguished leadership, during which more than $1.1 billion was raised for the University of Tennessee, as noted by UT System President Randy Boyd. Vice Chair Art Sparks was elected to succeed Wilson as chair, effective July 1, 2026. Karen Bowling was elected to serve as vice chair, also effective July 1.
The Board also welcomed two new members: University of Tennessee at Martin alumna Jennifer H. Hampton and University of Tennessee, Knoxville alumna Jennifer A. Powell. Both were presented by Nominating and Governance Chair Emily Capadalis Love and unanimously elected.
Budget & Strategic Investments
UT Foundation Chief Financial Officer Adam Heller presented the proposed fiscal year 2027 budget, which was unanimously approved. The budget anticipates $7 million in overall revenue growth, driven by increased endowment market value, investment earnings and additional campus support.
The Board also approved a policy update granting the Audit and Finance Committee authority to review and recommend requests above current policy maximum levels and to incorporate advanced funding on expected gift commitments tied to capital projects.
Recognition
The meeting concluded with recognition of retiring Directors Mike Griffin and Judi Herbert, as well as Past Chair Ron Freison, who were thanked for their years of dedicated service to the Foundation and the University of Tennessee.
The Foundation’s mission is to raise financial, public and political support for the University of Tennessee. A nonprofit corporation, the Foundation helps meet the needs of the University by augmenting state and institutional funds, and enriching the lives of students, faculty, staff, alumni and friends.
For more information about the UT Foundation, visit www.utfi.org
Contact:
Jackie Wise
(865)974-2575