February 24, 2007
Meeting of the Brown Corporation
Corporation Elects New Chancellor, Approves Response to Slavery and Justice, Sets Tuition and Budget , Creates Social Choice Fund, Accepts Gifts
The Corporation of Brown University has appointed a new chancellor, endorsed President Ruth J. Simmons’ response to the Committee on Slavery and Justice, and set tuition and budget for fiscal year 2008. The governing body of the University also discussed the future of The Warren Alpert Medical School, and the Division of Biology and Medicine. The Corporation established a new option for donors – the Social Choice Fund – and reported major progress in its Boldly Brown: Campaign for Academic Enrichment.
Other Corporation news:
PROVIDENCE, R.I. [Brown University] — The Corporation of Brown University today (Saturday, Feb. 24, 2007) announced the election of Thomas J. Tisch as the University’s 20th chancellor. The Corporation also elected Jerome C. Vascellaro as vice chancellor and reappointed its treasurer and secretary. (See news release)
Slavery and Justice
President Ruth J. Simmons presented her response to the recommendations made by the Committee on Slavery and Justice. The Corporation endorsed her recommendations. (See news release)
Budget and Tuition
The Corporation has approved a fiscal year 2008 consolidated budget of $704.8 million, an 6.4-percent increase over FY07. Total undergraduate fees will rise 5.0 percent to $45,948, including a 5-percent rise in tuition to $35,584. (See news release)
The Corporation’s retreat on Friday, Feb. 23, 2007, encompassed a number of areas critical to the University, including strategic plans for The Warren Alpert Medical School of Brown University.
The Corporation reviewed the report of a strategic planning working group, created by Provost David Kertzer in September 2006, comprising 12 senior faculty members of The Medical School, including six chairs of clinical departments and others with major leadership responsibilities.
The Corporation also heard a presentation from Charles M. Vest, president emeritus and professor of mechanical engineering at the Massachusetts Institute of Technology.
Boldly Brown: Campaign for Academic Enrichment
The Corporation received an impressive progress report on Boldly Brown: The Campaign for Academic Enrichment, which has a goal of raising $1.4 billion by Dec. 31, 2010. As of today, the Campaign has reached $950 million. Bolstered by the recent $100-million gift to name The Warren Alpert Medical School of Brown University, the University continues to have very good momentum with increased donor participation as well as dollars raised.
Social Choice Fund
The Corporation approved the University’s recommendation that a Social Choice Fund be established with an environmentally responsible focus. The conditions and terms for the donations will be set by the University’s Advancement Office in order to be consistent with existing policies and procedures. The Investment Office will evaluate possible funds, select the most appropriate investment vehicles and monitor performance.
Acceptance of Gifts
University policy and practice requires that all major gifts, including all gifts of $1 million or more, be formally accepted by the Corporation. The Corporation accepted or ratified earlier committee acceptance of the following gifts:
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