Repository: UIHistories Project: Board of Trustees Minutes - 1982 [PAGE 452]

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1982]

UNIVERSITY OF ILLINOIS

441

private support to University academic programs is critically important to the longterm future of the University. In this connection I am pleased to report to you that we have completed negotiations with Arnold Beckman, enabling the formation for the first time of a $10 million endowment fund for the Graduate Research Board at the UrbanaChampaign campus. The fund will be composed of the $5 million initially pledged by Dr. Beckman and an additional $5 million in matching funds as provided in the agreement. For the first time, the critically important work of the Graduate Research Board will be underwritten by an endowment, the earnings from which will provide continuity and stability to its efforts.

IRS Ruling

I am pleased also to acknowledge that the University was successful in securing a ruling from the Internal Revenue Service which defers contributions made to the State Universities Retirement System from income tax. Since the ruling is retroactive to January 1, 1981, most of our faculty and staff members will receive refunds when they file their 1981 returns. In 1982, this ruling should mean an increase in take-home pay each month of from 2 to 4 percent, depending on the tax bracket. Efforts to secure the ruling before the end of the 1981 tax year were led by Congressman Daniel Rostenkowski of Chicago, with special assistance from Congressman Edward Madigan of Lincoln and Congressman Robert Michel of Peoria. On behalf of the University community, we acknowledge the efforts of these gentlemen and express our gratitude for their diligent attention to a sometimes frustrating task.

George D. Stoddard

I note with regret the recent death of the tenth president of the University of Illinois, George D . Stoddard, on December 28, 1981. President Stoddard served as president of this University from 1946 to 1953. He later held a number of other academic positions of distinction, including that of chancellor of New York University. In conferring an honorary degree upon George Stoddard in 1968, the University of Illinois citation took note of his many posts of honor and responsibility, describing him as "one of the nation's foremost educational statesmen." His contributions live on and he will remain a part of the history of this University.

James C. Colvin

I also note with sadness the passing of James C. Colvin, who served the University for nearly forty years. Mr. Colvin died December 3, 1981. His quiet, but effective leadership as editor of the Alumni News and as executive director of the foundation contributed greatly to the welfare of the University. The University has lost a loyal and trusted servant.

Advent of a New Year

The advent of a new year, 1982, invites reflections on the year just completed. T h e year 1981 was a difficult one in many respects, but for the University, overall, it was a good year. T h e severe conflict between the University and the Big Ten Conference, which attracted great public attention and consumed inordinate amounts of administrative time early in 1981, was resolved. I n the process of resolution, it buttressed efforts already underway to enhance faculty oversight of intercollegiate athletics. The Illini spirit was not crushed, nor was it dampened; indeed, as we enter 1982, it is my impression that that spirit has never been stronger. I n the area of the budget, while sister universities in neighboring states suffered significant cutbacks, the University of Illinois continued to achieve reason