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Caption: Board of Trustees Minutes - 1936 This is a reduced-resolution page image for fast online browsing.
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442 BOARD OF TRUSTEES [October 25 Ex Officio Members Mr. WALTER W. W I L L I A M S , President of the Board of Trustees Dr. A. C. Wn-LAKD, President of the University Mr. K. J. T. EKBLAW, President of the Alumni Association T h e constitution provides that the Directors shall be elected for terms of three years and so arranged that the term of one Director elected from the Board of Trustees of the University and the terms of two other elected Directors shall expire each year. T h e constitution provides for the filling of vacancies by the Board of Directors. Mr. Glenn M. Hobbs was elected Executive Director of the Foundation at a salary of $5,000 a year begining October 1, 1935. A resolution was submitted from the Alumni Fund Board transferring the assets of that Board to the Foundation. Copies of the constitution and by-laws of the University of Illinois Foundation, as adopted at the meeting of the Board of Directors on September 6, 1935, are submitted to the Secretary of the Board herewith for record. Certain minor amendments of the by-laws are under consideration and when they have been adopted I recommend that the constitution and by-laws be printed in the transactions of the Board of Trustees as a matter of record. O n m o t i o n o f M r . B a r r , t h i s r e c o m m e n d a t i o n w a s c o n c u r r e d in. CONSTITUTION (As Revised November, 1935) ARTICLE I N A M E AND INCORPORATION SECTION I. Name. T h e name of this organization shall be the University of Illinois Foundation. It shall hereinafter be designated and referred to in this constitution and in the by-laws as " T h e Foundation." SECTION 2. Nature. T h e Foundation shall be a wholly non-profit corporation, organized under the laws of the State of Illinois, and its purposes shall be wholly charitable and educational. SECTION 3. Location. T h e principal office of the Foundation shall be on the main campus of the University of Illinois in Champaign-Urbana. SECTION 4. Object, a. To assist in developing and increasing the facilities of the University of Illinois for broader educational opportunities for and service to its students and alumni and to the citizens of the State of Illinois, by encouraging gifts of money, property, works of art, historical papers and documents, museum specimens, and other material having educational, artistic, or historical value, and by such other proper means as may seem advisable. b. To receive, hold, and administer such gifts with the primary object of serving purposes other than those for which the State of Illinois ordinarily makes sufficient appropriations. W h e r e the terms and conditions imposed by the donors of any forms of gifts or bequests make immediate transfer to the University of Illinois right and proper, the Foundation shall transfer absolutely and in full right, title to and interest in such property, real and personal, transferred, assigned, or conveyed by any and all persons whatsoever, whether such property be in the form of money, manuscripts, works of art, or otherwise, for the use and benefit of the University of Illinois, subject to said terms and conditions of said donors and subject also to the right of the Board of Trustees of the University of Illinois to refuse such proffered gifts, if conditions attached thereto be deemed unsatisfactory or unacceptable. Whenever such gifts or bequests, when made as memorials, involve maintenance, provision for such maintenance shall be included in the gift unless this requirement is waived by the University Board of Trustees. c. To deposit forthwith in the archives or library of the University whatever articles or manuscripts, having scientific or educational value, which may be loaned the Foundation by the owners or by persons in legal custody thereof, subject to the approval of the Board of Trustees.
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