Scott Varady was happy as a lawyer for the University of Arkansas until a chance conversation with Sean Rochelle got him thinking.
Varady, then the assistant general counsel for the university, was delivering some paperwork to the Razorback Foundation when he ran into Rochelle, who had just announced he was resigning as executive director. Rochelle left the foundation in the summer of 2015 to become executive director of Vold Vision PLLC, a private ophthalmology practice in Fayetteville.
Varady hadn’t thought about leaving the general counsel office, where he had been for nearly two decades, until Rochelle told him how good a team the foundation had and what a good situation it was.
“That conversation was a catalyst for me to start thinking about it,” said Varady, 52. “I knew that it was a unique opportunity that might not come along again. I felt like it was at a time and place that fit for me.”
Varady earned his undergraduate degree from Arkansas and, with one daughter in college and a son a recent college graduate, he felt it was the perfect time to take on a new challenge. The Razorback Foundation board agreed, hiring Varady to start in December 2015.
“It’s awesome, and I feel blessed every day,” Varady said. “Change is always healthy. I thought this was a tremendous opportunity to follow my passion, follow the things I love. I love Arkansas Razorbacks athletics.”
Varady’s passion is evident to his new staff, most of whom knew him from his work with the general counsel office.
“He is a through-and-through Arkansas Razorback fan, which is enlightening to have here,” said foundation CFO Billye Veteto.
Old New Guy
Varady is the third full-time executive director for the foundation since Harold Horton’s retirement in 2012. Horton was replaced by Chris Wyrick, and Rochelle replaced Wyrick when he became the university’s vice chancellor for advancement. (Wyrick left that post on Monday.)
The foundation is a nonprofit fundraising arm for the university’s Athletic Department with membership in 2014-15 of more than 14,500. The foundation reported $27.8 million in contributions and grants in fiscal 2014, according to its Form 990 filing with the IRS, and had total assets of $49.5 million.
Varady, who is also the foundation’s general counsel, has fundraising experience from working with former university Chancellor David Gearhart on the campus’ Campaign for the Twenty-First Century. He is learning the new requirements of the new job.
“We have a different mission, a different function and a different purpose,” Varady said.
Varady said he planned to take his first year on the job to learn the lay of the land before deciding on any changes or tweaks to the system. He understands, Varady said, that he has inherited an experienced staff that doesn’t need to be micro-managed on jobs many have been doing well for years.
Varady also understands that even well-run organizations such as the Razorback Foundation can’t risk complacency by being afraid to make changes. Or, at the very least, ask questions about the way things are being done.
Norm DeBriyn joined the foundation in 2002 after 33 years as the Razorbacks’ baseball coach. He served as the interim director between Rochelle’s retirement and Varady’s appointment.
He said Varady has already made an impression on him, citing a recent staff meeting in which he made a fundraising suggestion that was both a good idea and something DeBriyn hadn’t considered. DeBriyn said the regular evaluation of operations — whether for a baseball program or a fundraising organization — is crucial for continued growth.
“He is very smart; he is very engaged,” DeBriyn said. “He looks at every angle. His history is so good in all of athletics. He is really engaged in following them. He has been a Razorback fan forever. It’s not something new he’s just doing now.”
Varady said he is trying to plan a staff retreat, along with available members of the board, so the foundation can come up with a to-the-point strategic plan. He also wants the foundation to fully develop as a “full menu” fundraising organization.
“My vision for the organization is still continuing to grow,” Varady said. “The foundation began primarily as an annual fund organization. We need to offer our fans and our donors all opportunities that they can help our program stay competitive and among the best in the country.”
All Donors Big and Small
The Razorback Foundation walks that line of catering to the big-money donors while not ignoring the everyday Razorback fan who doesn’t have deep pockets.
The foundation has priority seating privileges based on a donor’s contribution levels. For instance, someone who donates $20,000 annually — a “Broyles-Matthews Platinum” member — has access to 18 priority football tickets in any section of Reynolds Razorback Stadium in Fayetteville.
A $50 contribution — a “Razorback” member — gets one priority football ticket in a limited number of sections.
It’s the cold, hard truth of competitive economics for an SEC program.
“It’s very important to me, having grown up in this state, primarily in Little Rock, that the Razorback Foundation connect with every fan in the state of Arkansas and let every fan know that everyone can make a difference,” Varady said. “It doesn’t matter how small or how large a gift may be, if they’re a member of the organization, they’re helping to advance the mission.
“I can tell you I have a personal and professional commitment that everyone can be part of this organization. What the foundation has adopted is a membership giving level that recognizes and spells out the benefits for people who make an annual fund contribution plus who have earned priority points. That recognizes those folks and allows them to select where they will sit in a particular venue or sport.”
DeBriyn said Varady has already shown an ability to connect with big- and small-money donors. And he said that Varady had earned his respect by traveling to Razorback Club meetings across the state shortly after his appointment.
“When that plane would head off at 4:30 heading off to the Delta or wherever, he’s on it,” DeBriyn said. “He is a perfect fit for the Razorback Foundation. No task is too big or too small. He handles people the same way, whether it is the Platinum or the Razorback donor, which is really nice. He does that perfectly.”
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