Foundation Board of Trustees Fall Meeting

Foundation Board of Trustees Fall Meeting


SUMMARY: Highlights from the October 13, 2017 Foundation Board Meeting

Board of Trustees Fall Board Meeting

Foundation Board of Trustees Meeting – October 13, 2017

The JMU Foundation committee and Board meetings were held on Friday, October 13 at the Festival Conference center.  The Board meeting began with the annual presentation by the JMU student-led Madison Investment Fund (MIF) team.  The MIF team reviewed their 2016-17 performance and also discussed their new sustainability fund; Wall Street prep - a new on-line learning platform; alumni relations; 2017 company placements; and community involvement.

Mr. Tom Schaeffer, Foundation CEO, presented accomplishments for the year.  He thanked the work of the Search Committee, who have been handling the process of finding his successor.  Mr. Schaeffer also shared his goals for the year.  The JMU Foundation will host the Virginia Higher Education Foundations’ CEO Conference in June of 2018.

Ms. Cheryl Lindsay, Foundation CFO, reviewed the audited financial statements for the fiscal year ended June 30, 2017.  She further reviewed various aspects of the endowment including market value and growth projections, designations, contributions, and investment analysis.

Dr. Nick Langridge provided several advancement updates.  He indicated that reservations for Dr. Ronald Carrier’s latest book can be made at Homecoming for a $100 donation.

At the close of the Board meeting, the trustees traveled to Bridgeforth stadium to hear the announcement of the new basketball facility, which will be established as the Union Bank & Trust Center. 

At the Board dinner on Thursday night, Mr. Schaeffer welcomed three new trustees to the Board.  Mr. Joe Funkhouser has served in many capacities at JMU, and was previously on the JMU Foundation Board from 2000-2008.  He is currently president and principal broker of Funkhouser Real Estate Group.  Mr. David Kay (’89) also has extensive experience in real estate and business. He is currently the co-CEO of Distinctive Building Group, a company dedicated to custom design and construction.  Ms. Ellen Meyer (’01) was previously on the Foundation Investment Advisory Board.  Ellen is the Director of the Client Team at Investure, a firm that serves as the outsourced investment office for non-profit foundations and endowments.  We are pleased to have this group join our board and share their passion for JMU!

Published: Monday, November 13, 2017

Last Updated: Monday, November 13, 2017

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