Foundation Board of Trustees Spring 2017 Meeting

The JMU Foundation committee and Board meetings were held on Friday, May 19 at the Festival Conference center.  Mr. Tom Schaeffer, Foundation CEO, provided an update on the Shenandoah Valley Hotel and Conference center, reviewed the methodology for endowment spending and discussed the recently issued survey that the Foundation distributed to JMU administrators.

Ms. Cheryl Lindsay, Foundation CFO, reported on the Foundation’s IT conversion from the JMU Network to a third party vendor.  She contrasted JMUF results with 2016 NACUBO (National Association of College and University Business Officers) results. Lastly, Ms. Lindsay shared financial and contribution highlights for the 9 months of our current fiscal year.

The Board approved the 2017/2018 Unrestricted Expenditure Budget and two policies.

Dr. Nick Langridge provided a fundraising update. 

President Jon Alger reported on various University updates including our most recent commencement; engagement opportunities; national, state, and athletic recognitions; Advancement; and campus construction updates.

A ballot resolution, presented by Governance committee chair Judy Strickler, was unanimously approved to re-elect Warren Coleman as Chair of the Board; Cliff Wood as Vice-Chair; Cheryl Lindsay as Vice President and Chief Financial Officer; and Tammy Balser as Secretary for 2017/2018.  Judy Strickler and Claiborne Johnston were elected to another three-year term as trustees.  New trustees that will begin service on July 1 are Joseph K. Funkhouser, II, David S. Kay, and Ellen W. Meyer.  Wesley Graves and Warren Marshall were elected as non-voting Trustees Emeritus.

Mr. Warren Coleman, board chair, shared information about a Trustee Engagement Plan.

Mr. Coleman concluded the meeting by recognizing various trustees completing terms of service.  In addition to recognition at Thursday night’s dinner, a resolution of appreciation was approved for Wesley Graves, Warren Marshall, and Pam Ware, all of whom are completing terms of service and leaving the board at the end of this fiscal year.  Another resolution was approved to posthumously recognize the service of Dennis Belcher, a board trustee who passed away unexpectedly in April.