Joyce Cantrell

The committee approved the forward motion of expenditure reports for the period of July through September 2025 and contracts dated between August and November 2025 to the Board of Governors. Finance reports indicated a focus on future hedge fund investments, a successful audit process, and an endowment balance exceeding $3.2 million, with the 2024-2025 audit being forwarded for board approval. Additionally, the committee discussed recruitment strategies for new board members, reviewed a Giving Day summary which raised $179,862, and outlined categories for the upcoming Celebrating Excellence awards along with a schedule for future foundation events.

The Board of Governors ratified expenditures from March to April 2025 and reviewed the finance report, noting fundraising growth and endowment balances. They approved a $80,000 pool of matching funds for the 2025-2026 PRO IVC program and authorized the Executive Director as an official signer on the organization's investment account. The board also approved several membership renewals and executive committee term extensions. Additionally, the meeting included a president's update on recent college milestones, such as record-breaking graduation honors and endowment growth, and established fundraising goals for the upcoming fiscal year.

The committee discussed and approved the ratification of expenditures from January 1, 2025, through February 28, 2025, for submission to the executive committee. An investment and policy update was provided, resulting in the approval to forward the Investment Policy Statement to the executive committee for review. Additionally, the committee reviewed financial reports ending February 28, 2025, and agreed to forward them for approval. Talking points for the Board were noted, highlighting that contributions are ahead of the previous year and the investment policy statement is under review.

The meeting encompassed several key administrative and financial actions, including the ratification of expenditures and contracts for specific periods. The Board reviewed and updated financial reports and approved both restricted and unrestricted investment policy statements, with specific conditions regarding hedge fund allocations. Furthermore, the Board confirmed the slate for the 2025-2026 Executive Committee and approved multiple board membership renewals and new appointments. Additional agenda items included updates on institutional funding, including a housing award for students, and reports on various upcoming foundation events.

The meeting included the presentation and approval of the monthly financial report and the appointment of a new board member. It was noted that the audit report had not been received, necessitating a future special meeting. Key updates were provided by the Executive Director regarding college accreditation, campus charging stations, the Edison grant, year-end donations, the PRO IVC initiative, and the "Guys and Dolls" cultivation project. Additionally, the board reviewed progress on the Astounding Inventions event, planning for the Foundation Awards Dinner, and initial designs for the Foundation House. Board members also discussed the opportunity to host a booth at the Astounding Inventions event.