Minutes of Meeting of the Winthrop University Foundation Board of Directors
Monday, May 17, 2010

Members present:
Carlos Evans (Chair), Irvin Plowden, Bob Gahagan, Gerry Schapiro, Gary Williams, Marc Bogan, Michael Marsicano, Pat Bean, Vivian Carroll (Ex Officio), Debra Fetner (Ex Officio), Tim Hopkins (Ex Officio) and Brien Lewis (Ex officio).

Members absent:
Andy Shene, David Dooley, Mark Carter, Cece Stewart, Spratt White, Ann Terry, David Pennell, Ladson Barnes, Bruce Brumfield, Pat Robertson, Frank Viola, Kathy Viola, Linda Warner (Ex Officio) Debbie Garrick (Ex Officio) and Anthony J. DiGiorgio (Ex officio).

Board Staff present:
Susan Lee, Secretary to the Winthrop University Foundation Board of Directors

Guests:
J.P. McKee, Vice President of Finance & Business

The Winthrop University Foundation Board met by conference call on Monday, May 17, 2010 at 2:00 p.m.

Call to Order
Mr. Carlos Evans called the meeting to order at 2:00 p.m.

The first purpose of the conference call was to consider a request from Winthrop University regarding expenses related to President DiGiorgio’s new off-campus residence. The University is requesting that the Foundation consider covering “comparative services” expenses for the residence as called for under the President’s contract with the University (estimated at approximately $20,000 annually). The option of the University covering these costs directly involves cumbersome state processes that would require staff time and other resources better utilized for other University priorities. In return, the University will cover an appropriate equivalent expenditure normally incurred by the Foundation. This equivalent expense is a Planned Giving educational series of mailings and related expenses which are not direct solicitations. Therefore there will be no impact on the Foundation’s “bottom line.”

The board discussed the items covered by the contractual language and the need for reconciliation of expenditures on an annual basis. Mr. Gary Williams moved, seconded by Ms. Pat Bean, to approve the expenditure request with an annual review and reconciliation.

The second purpose of the call was to approve the annual Memorandum of Understanding (MOU) between the Foundation and the University. This document is a key aspect of the review undertaken by Southern Association of Colleges and Schools (SACS) for the University’s accreditation re-affirmation, so it is important for the Foundation to have a current document in place. Mr. Marc Bogan moved, seconded by Mr. Gary Williams, to approve the 2010 Memorandum of Understanding between the Winthrop University Foundation and Winthrop University.

Adjournment
There being no further business, the Board adjourned at 2:45 p.m.

Minutes submitted by Susan Lee, Secretary to the Winthrop University Foundation Board of Directors.

Winthrop University Foundation
Phone: 803/323-2229
Fax: 803/323-4550

302 Tillman Hall
Rock Hill, SC 29733, USA