20250627_Board_Book.pdf — PaddleOCR-VL (Baidu)

ACTION ITEM:

Kentucky State University Thorobreds Foundation, Inc. Amended MOU

FACTS:

The Kentucky State University Thorobreds Foundation, Inc. (KSUTF) was established as an independent 501(c)(3) nonprofit organization to support the philanthropic mission of Kentucky State University. The Foundation's purpose is to raise, manage, and steward private resources in support of students, academic programs, and University priorities.

A Memorandum of Understanding (MOU) between Kentucky State University and KSUTF governs the working relationship between the University and the Foundation.

The MOU has been updated to reflect changes that strengthen the structure and oversight of the Foundation and enhance alignment with University governance.

The key updates to the MOU include:

Changing the name of the Foundation's governing body from “Board of Directors” to “Board of Trustees”;
Increasing the number of authorized Trustees from fifteen (15) to up to twenty-five (25), with all appointments made by the KSU Board of Regents;
Designating both the President of Kentucky State University and the President of the Kentucky State University National Alumni Association (KSUNAA) as Ex-Officio Members of the KSUTF Board of Trustees;
Renaming the Board of Regents committee referenced in the MOU from the “Advancement and Investment Committee” to the “Finance and Advancement Committee” to reflect updated Board committee structures.

These revisions are intended to formalize evolving practices, enhance collaboration with alumni leadership, expand philanthropic capacity, and ensure consistent oversight and reporting.