AGB Trusteeship Podcast

Metropolitan State University of Denver's Board of Trustees recently voted to establish a Committee on Sustainable Racial Justice. This standing committee at the regional public institution will provide board-of-trustee oversight of the university's efforts to eradicate systematic racism. In this podcast, MSU Denver's Board Secretary David Fine discusses the work behind the new committee with trustees Mario Carrera and Albus Brooks, the board members who called for the formation of this committee.

During this time of unprecedented challenges, the financial health of colleges and universities is a critical concern. Boards, investment committees, institutional leaders, and their advisors must work together to assess and plan for both the short- and long-term implications of the Covid-19 crisis, which is accelerating many of the negative trends that were already underway for higher ed. In this podcast discussion, Tim Yates, President of Commonfund Asset Management and head of the firm's OCIO practice, discusses with AGB's George Watt the challenges institutions are facing, shares the key questions they need to address, and offers strategies to help them face these challenges.

Join AGB's George Watt and Bank of America's Bill Jarvis in a conversation on governance issues facing investment committees and institutional / foundation boards as campuses gradually reopen. Regardless of your institution's specific situation, Bill emphasizes the importance of knowing three crucial things:

• Where you stand – the risks to which your investment portfolio and institution are exposed, and the effect on them of potential future scenarios;
• Why you stand there – the rationale behind portfolio and institutional structures and how they are intended to work together
• Where you are going – the intersection between science and society that will determine the investment and operational regime in which you will be operating

This conversation is intended to provoke productive thought at a time when decisions are being made in an environment that remains uncertain and very fluid.

Speakers:

Bill Jarvis, Managing Director, Bank of America ([email protected]) William Jarvis is a managing director with Bank of America based in New York, responsible for strategic thought leadership with institutional and private philanthropic clients. He joined Bank of America in 2017 from Commonfund, where, as the executive director of the Commonfund Institute, he led that firm's educational, research and professional development activities. He holds a BA in English literature from Yale University, a JD from the Northwestern University School of Law, and an MBA from the Kellogg Graduate School of Management. He does not provide legal advice in his role at Bank of America.

George P. Watt, Jr. AGB Senior Fellow George Watt joined AGB as a senior fellow in July 2017, with a focus on AGB's support of institutionally related foundations. In this role, he assists and advises on programs and research supporting the work of public university foundation boards and business operations, including AGB's annual Foundation Leadership Forum, which brings together hundreds of board members and CEOs from across the country for a three-day program focused on governance practice, endowment management, and fundraising leadership. Prior to joining AGB, Mr. Watt served as executive vice president of institutional advancement at the College of Charleston (SC) and executive director of the College of Charleston Foundation. Mr. Watt came to the College of Charleston from the U.S. Naval Academy Alumni Association and the U.S. Naval Academy Foundation, where he served for nearly nine years as the joint president and chief executive officer. Mr. Watt previously held executive positions with First Union Corporation's Enterprise Solutions Group, as well as IBM Consulting Group's North American Financial Services practice. He is a 1973 graduate of the United States Naval Academy and holds the retired rank of Captain, U.S. Navy.

Corvias Founder John Picerne explores how colleges and universities can transform themselves through strategically partnering with an innovator in the private sector, allowing for the monetization of existing resources and eradication of debt.

In this episode, AGB examines how University of Washington Alumni Association engaged with the state legislature and other policymakers to support university priorities through the work of UW Impact, the advocacy arm of the Alumni Association. Featuring Paul Rucker (executive director of the University of Washington Alumni Association) and Courtney Acitelli (program director of UW Impact), this episode explores the strength of engaging with alumni, community leaders, businesses, and other higher education institutions to promote higher education initiatives with lawmakers.

Academic research played a role in some of the most transformative technologies today, in medicine, communications, and a host of other disciplines. However, skepticism of higher education and budget fears are cause for concern, encouraging policymakers and the public alike to question the value of university research. AGB interviewed former University System of Maryland Regent and former CEO of Lockheed Martin Norm Augustine, as well as former Emory University President Jim Wagner, to dig into the value of university research.

In April 2019, AGB released a new advisory statement, "Reclaiming Higher Education's Leadership in Support of Civil Education." In this episode of AGB's Trusteeship Podcast, Jonathan Alger, president of James Madison University, and Kristin Hodge-Clark, former AGB vice president for best practice and innovation and a trustee at the College of Saint Benedict, share examples of how civil education works on their campuses, in the classroom and the board room.

Endowments allow colleges and universities, like other public and charitable organizations, to fund a portion of their work continuously, generation after generation. The ways in which these funds have been solicited from donors, applied to expenses, and stewarded over time are ultimately unique to each institution, and public misconceptions have proliferated on each of these points. Hear from Sandy Baum, a nonresident fellow at the Urban Institute and trustee of Bryn Mawr College, explain why endowments exist, what they provide to institutions and students, and why they are at risk.

When it comes to intercollegiate athletics, board members should consider the totality of the student experience—from success on the playing fields to success in the classroom. Sometimes, the scales get tipped, and when problems emerge the board can find itself caught up in scandal. Boards need to understand their larger role and accept their accountability.

Has higher education lost the public's trust? This episode of AGB's Trusteeship Podcast explores the realities and data behind confidence in higher education, featuring guests Patricia Brown Holmes, managing partner at Riley, Safer, Holmes, and Cancila and a former Illinois state court judge, and Brandon Busteed, executive director, education and workforce development at Gallup. Listen to these two experts weigh in on the factors that affect public confidence, including cost, access, and political viewpoints.

More about AGB's Guardians Initiative at www.agb.org/guardians.