Repository: UIHistories Project: Board of Trustees Minutes - 1946 [PAGE 376]

EXTRACTED TEXT FROM PAGE:

1945]

With Whom King and Petry Champaign Plumbing and Heating Company

UNIVERSITY

OF

ILLINOIS Amount to be paid by the University $2 690 00 1 322 00

373

Date February 1, 194J January 30, 1945

Purpose Kitchen ventilation in Woman's Building Cafeteria Alterations to Locomotive Testing Laboratory

This report was received for record.

QUARTERLY REPORT OF THE COMPTROLLER

(13) T h e Comptroller presents his quarterly report to the Board as of December 31, 1944. Copies of this report have been sent to all members of the Board in advance of this meeting.

This report was received for record.

FUNCTIONS OF THE UNIVERSITY O F ILLINOIS FOUNDATION A t this point, M r . F o r n o f presented the following report.

M E . PRESIDENT AND MEMBERS OF THE BOARD OF TRUSTEES:

Your Special Committee to Study the Functions of the University of Illinois Foundation and the Alumni Association and Their Relationships to the Board of Trustees, after meeting with representatives of the Foundation and Alumni Association and University officials and after studying the questions involved from the broad viewpoint and over-all considerations, offers these recommendations: 1. T h a t the Foundation employ, subject to the approval of the Board of Trustees, a qualified man whose duty shall be to manage the activities of the Foundation, cooperate with the Alumni Association, and assume other such responsibilities as may be assigned. It is believed that the Foundation should secure such a man as soon as one with the necessary qualifications may be found. 2. T h a t the responsibility for fund-raising and gift and endowment promotions shall be vested in the Foundation and that the Alumni Association and other agencies on the campus give the Foundation the fullest measure of cooperation and assistance in this work. 3. T h a t the objectives of the Foundation shall be: a. T o carry on the functions provided in the charter and by-laws. b. T o provide funds for research in subjects recommended by the University and for other purposes and projects which the University may designate. c. T o develop and exploit patents turned over to it by the University. d. To act as trustee in matters in which the University is an interested party. e. T o assume such other functions as may be assigned to it by the University. 4. That there may be the closest relationship, it is understood the policies and objectives of the Foundation are subject to review and amendment by the Board of Trustees. 5. That the University shall assume responsibility for meeting expenditures of the Foundation not capable of payment out of its own available funds, the University to determine its responsibility. 6. That the Alumni Association continue to receive the fullest measure of support and that its present program and objectives be encouraged, so that the men and women who have attended the University may be knit into one great, effective organization to the end that the University may receive the greatest possible benefits. 7. T h a t the Alumni Association continue to carry the responsibility of cataloging and maintaining alumni records and editing and distributing such publications as the Alumni News. 8. That the legal department of the University take this broad statement of policy and with the Foundation and Alumni Association representatives formulate any necessary documents and contracts covering the legal aspects. O n m o t i o n of M r . Fornof, this report w a s adopted. MEMORIALS TO DAVID KINLEY AND ROBERT F. CARR

Mr. Davis, for the Committee on General Policy, reported the following recommendations.