Board of Regents Makes Final Decision Regarding UGA Foundation
Atlanta — August 4, 2004
The Board of Regents of the University System of Georgia voted today to instruct University of Georgia President Michael Adams to withdraw the 90-day termination letter to the University of Georgia Foundation.
On May 25, 2004, the regents had instructed the president to issue the letter that would have terminated the relationship between the university and the foundation on August 24, 2004. The Foundation immediately sought pathways to keep the termination from occurring.
After a series of meetings between Board of Regents’ officials and representatives of the University of Georgia Foundation, consensus was reached that the foundation would refocus its attention and efforts on its primary mission of supporting the university’s goals.
University System of Georgia Chancellor Thomas C. Meredith said, “It is now time to concentrate on the future and for the University of Georgia Foundation to focus on meeting their goal of raising $500 million for the university by 2007.”
Board of Regents Chair Joel O. Wooten of Columbus added, “Successful partnerships with foundations are critical for the continuing advancement of our institutions. We look forward to reestablishing productive ties with the UGA Foundation.”