MOTION by Regent Fletcher:
Move the Committee to approve the agenda of the November 21, 2023, Special Meeting of the Investment & Advancement Committee.
Seconded by Regent Adams and passed without dissent.
A. Discussion of the Relationship Between Kentucky State University and the Kentucky State University Foundation, Inc.
This agenda item was presented by Mr. Michael DeCourcy, Interim Chief of Staff & VP, Strategic Initiatives. Chair Moyer prefaced the discussion by stating that the goal was to have a strong, open, cooperative beneficial relationship between KSU and the Foundation.
Mr. DeCourcy noted that the Foundation had declined to be present at today's meeting, then outlined the history of the Foundation's development and relationship with KSU.
Chair Moyer then opened the floor for questions.
Regent Dukes inquired whether KSU had any input into the three main changes to the MOA that were made between 1991-1992.
Chair Moyer queried whether wording exists in any document that gives the Foundation the authority to support other organizations besides KSU. If so, Chair Moyer asked whether there were limits on that authority, how the Foundation’s operational costs are being split between the University and those other organizations, and how much Foundation money has been expended on non-KSU students and/or projects.
Chair Moyer also sought clarification as to the MOU's provision for expenditures of up to 35% for administration fees on accounts and further inquired whether the fee was charged on an annual basis, and what the annual return on the Foundation has been.
Regent Dukes asked whether the amounts claimed by the Foundation to have been paid on behalf of KSU have been validated or substantiated, and whether any of the $267,652 that was requested from the Foundation had been received.
This agenda item was presented by Mr. Richard Graves, KSUNAA President. Mr. Graves reported that the National Alumni Association has always worked directly with the University and its Board of Regents. Further, he noted that the KSUNAA and KSU are in the process of finalizing a MOU that will be presented at the February 2024 Board meeting. KSU alumni are excited and engaged, and ready to help the University in any way they can.
Regent Adams requested Mr. Graves to discuss how the National Alumni Association supports the University and asked if it is safe to say that the main function of the Association