the May 9 Stated Meeting of the Executive Committee of the Trustees,
President Judith Rodin announced the appointment of Dr. Michael
Eric Dyson as Avalon Foundation Professor in the Humanities and
African-American Studies; he will teach courses in the Religious
Studies department and in the Afro-American Studies program. Dr.
Rodin noted that while Dean of Admissions Lee Stetson will give
a full report in June, this year's yield is up to 62%, with average
SAT scores of those students at 1406.
Robert Barchi presented a resolution on a Repatriation Claim from
Hoonah Indian Association/Huna Heritage Foundation, Alaska, which
contends that "objects of cultural patrimony" are in the University
Museum's collections; the Museum has evaluated the claim and will
work cooperatively with the claimants to make objects accessible
to the Clan.
John Fry's financial report on the consolidated academic component
of the University (for the nine months ended March 31, 2002),
showed a net gain on investments, an increase in net assets from
operations but revenue gains were reduced by revenue declines
in Wharton Executive Education, Campus Dining and University-owned
hotels; total expenses increased more than 10% over FY 2001; and
nonoperating contributions declined due to several large gifts
in FY 2001.
his report on PennMed, Dr. Robert Martin noted that they will
initiate a quality of patient care assessment.
that the Trustees have authorized a ten-year lease in International
House for the Office of International Programs, the OIP may proceed
with its planned move from Bennett Hall, after the first floor
space in I-House is renovated.
Trustees also approved the University's guaranty of a $9 million
loan to University City Associates which will reduce UCA's borrowing
costs to refinance a ten-year loan the Trustees approved in 1992
which is about to mature.
and Campus Planning Committee reported that the modular laboratory
configuration proposed by the architects for the Life Sciences
buildings respects the Bio Pond and gardens.
the lease signed by National Amusements for the cinema at 40th
Street, the target opening date is November. Huntsman Hall is
expected to be completed in August.
Investment Board is pleased with the progress that has been made
in the last two years, with the AIF outperforming the Benchmark.
The total endowment's fair market value, as of March 31, 2002,
is $3.45 billion.