Repository: UIHistories Project: Board of Trustees Minutes - 1988 [PAGE 95]

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1986]

UNIVERSITY OF ILLINOIS

85

following vote: Aye, Mrs. Day, Mr. Forsyth, Mrs. Gravenhorst, Mr. Hahn, Mr. Howard, Mr. Logan, Mr. Madden, Mrs. Shepherd, Miss Smith; no, none; absent, Governor Thompson. (The student advisory vote was: Aye, Mr. Filip, Mr. Starkeson; no, none.)

Renewal of Agreement, University of Illinois Foundation

(25) O n November 18, 1982, the Board of Trustees adopted revised guidelines governing certain fiscal procedures, including those between the University and University-related organizations. T h e University of Illinois Foundation asked to be designated a University-related organization as provided in the guidelines and authorized a basic agreement, effective June 30, 1983, with the Board of Trustees for that purpose. T h e Foundation desires to renew this agreement for Fiscal Year 1987. Under the agreement, the Foundation will provide fund-raising services and other assistance to attract private gift funds to support University programs. The Foundation agrees to accept and administer such gifts according to terms specified by the donor, to inform the University of all gifts received for the benefit of the University, and to apply the same in accord with the terms of the gift or, as in the case of all undesignated gifts, as the University may determine. T h e Foundation will also provide management and supervisory services for the maintenance of donor records on the University's Alumni-Foundation Information System (AFIS). Beginning in FY 1987, the Foundation will assess a service fee to all gifts as a means to support some of its private gift fund-raising operations. T o partially support the annual operating costs of the program and services described, the agreement provides for the payment by the University of an amount not to exceed $1,000,000* for FY 1987, contingent upon the availability of funds. Payments will be made during the course of the year based upon actual costs incurred. I n addition, the University will continue to provide support through the Office of Development for the maintenance of donor records and other fund-raising support functions. For FY 1987 the level of support will approximate $975,000.' Certain routine business and financial services (e.g., investment, accounting) will be provided to the Foundation as needed. T h e agreement also provides the Foundation widi access to the University's AFIS for the purpose of conducting fundraising activities. T h e University will provide approximately $100,000 to support such access. In addition to this agreement, a separate rental agreement will be developed regarding office space occupied by the Foundation in University facilities. Reimbursement to the University for the lease of this space will be described in this rental agreement. The agreement will be effective July 1, 1986, through June 30, 1987, subject to termination by either party with ninety days written notice to the other party. Funds to support the agreement are included in the State appropriated funds budget of the University Office of Development and in the University's budget request for FY 1987 being presented to the Board of Trustees. The agreement is subject to the availability of such funds. The vice president for business and finance has recommended execution of the agreement as described. I concur.

On motion of Miss Smith, this recommendation was approved by the following vote: Aye, Mrs. Day, Mr. Forsyth, Mrs. Gravenhorst, Mr. Hahn, Mr. Howard, Mr. Logan, Mr. Madden, Mrs. Shepherd, Miss Smith; no. none; absent, Governor Thompson.

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The contract amount for FY 1986 was $1,000,000. The contract amount for FY 1986 was $730,000.