June 27 2006
At its meeting on June 26, the ISU Foundation board approved the adoption of new bylaws that restructure the relationship of the foundation to the university. Larry S. Boulet, chair of the foundation board, indicated the move corresponds with trends found across the country at similar foundations. John Martin, a consultant with the Association of Governing Boards and president of the University of Connecticut Foundation, assisted in drafting the bylaws changes.
Among other changes, the new bylaws create the role of a foundation president who is separate and distinct from the university. Historically, the president of the university has served in both capacities. Additionally, the foundation's executive committee will include the foundation chair, the president of the foundation, the president of the university, the president of the board of trustees and four additional foundation board members as voting members.
"This is a major step for the foundation and is an important part of the development of an infrastructure that will significantly increase private support for the university's programs. We intend to move forward aggressively as a fundraising organization to work side by side with the University's trustees and President Lloyd Benjamin in building private support for the university," Boulet said.
The role of the foundation's executive vice president and the vice president for university advancement, currently occupied by Dr. Gary A. Bouse, will be consolidated into the new position. Bouse has announced his intention to pursue other opportunities and has submitted his resignation. A national search to fill the new role of president of the foundation will be launched in the coming weeks.
Benjamin thanked Dr. Bouse for his service to Indiana State University and for helping position the university to engage in a major campaign to enhance the private support it receives.
Contact and writer: Teresa Exline, special assistant to the president for strategic communications and university spokesperson, Indiana State University, (812) 237-7783 or firstname.lastname@example.org
In preparation for the first comprehensive campaign in its history, the Indiana State University Foundation has approved plans for a restructuring that will more clearly define the relationship of the fundraising organization as a separate entity from the university it supports.