KENTUCKY STATE UNIVERSITY BOARD OF REGENTS
ACTION ITEM:
ACTION ITEM E. VI
Board of Trustees of the Kentucky State University Thorobreds Foundation, Inc.
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.
As part of its formation, the KSUTF Board of Trustees are needed to guide its operations, ensure fiduciary oversight, and align the Foundation’s goals with those of the University. The Trustees were selected based on their demonstrated commitment to Kentucky State University, expertise in philanthropy, finance, nonprofit governance, and their ability to contribute meaningfully to the success of the Foundation and the institution it serves.
The Board of Trustees is responsible for the strategic and financial leadership of the Foundation, including oversight of fundraising efforts, investment of endowed funds, and ensuring adherence to adopted governance policies and bylaws.
BUDGETARY IMPLICATIONS:
Any additional resources allocated for the Office of Institutional Advancement and External Relations for the relationship with the KSUTF will be shared with the Board of Regents and will be included in the annual budget.
RECOMMENDATION:
The Chair of the Finance and Advancement Committee recommends the Board of Regents approve this resolution appointing the KSU Thorobreds Foundation, Inc. Board of Trustees for the 1 to 3-year terms outlined.
MOTION:
Approve the appointment of the Board of Trustees of the Kentucky State University Thorobreds Foundation, Inc.