JMU Foundation Fall Board Meeting
News
Foundation Board of Trustees Meeting – September 16, 2016
The JMU Foundation committee and Board meetings were held on Friday, September 16 at the Festival Conference center. The Board meeting began with a presentation by the JMU student-led Madison Investment Fund (MIF) team. The MIF team reviewed their 2015 performance and shared their engaged experiential learning opportunities which include various programs for alumni engagement, community involvement, conferences, and investment challenges.
Mr. Tom Schaeffer, Foundation CEO, thanked everyone for their support of the Shenandoah Valley Conference Center. He reported that Union Bank & Trust had been notified on July 15th of the Executive Committee’s acceptance of the bank’s financing proposal and a commitment letter was executed on August 24, allowing work to begin on final loan documents. A closing on the loan is expected before the end of September. Mr. Schaeffer also shared his goals for the year.
Ms. Cheryl Lindsay reviewed the audited financial statements for the fiscal year ended June 30, 2016.
Dr. Brad Newcomer gave a presentation about the newly approved Honors College. The College gives us the ability to provide educational opportunities similar to those found at smaller liberal arts colleges at the price of a public institution. Dr. Newcomer indicated that the endowment (private support) is essential for the success of JMU's honors college, allowing the University the ability to offer need and merit based scholarships which will help with recruitment and student success.
Dr. Nick Langridge discussed advancement updates, indicating that JMU has a relatively young alumni base. The second Giving Day is scheduled for Tuesday, March 14, 2017. Dr. Langridge reported that Snavely & Associates, the new marketing agency, will soon launch a campaign brand.
At the Board dinner on Thursday night, Mr. Schaeffer, along with President Alger and other present Trustees, welcomed new Board member Mr. Jon Offley to his first board meeting. Hearing how his JMU experience birthed a passion for public service was uplifting to us all. Mr. Offley (’89) is currently Senior Counsel with the Housing Authority of Baltimore City.
