Newsbriefs from Yellow Springs
By Jeanne Kay
Pro Tem Board delegation to visit Nonstop
On Friday February 13th, a delegation of Board Pro Tempore trustees will be in Yellow Springs to meet the Nonstop Community. The team will consist of: Frances Horowitz, chair, Zelda Gamson, Ev Mendelson, Steve Schwerner, Prexy Nesbitt, Matthew Derr and a GLCA representative. The contingency will report on their visit to the whole board.
Risa Grimes on Fundraising
The fundraising target for the 90-day period between the Letter of Intent and the Definitive agreement is $15 million, of which the University will get $5 million. “The 5 million is predicated on the 10-we won’t get the five unless we get the ten;” CRF Executive Director Risa Grimes explained, “This donor [has made] a challenge grant.” CRF fundraisers are asking donors to pledge over a 5 year period; “It’s pretty normal that you ask for 5-year;” Grimes said, “It’s not unusual to give people that much time to pay that much money. The economy’s pretty bad so we want to give people the opportunity to participate-not make it so hard on them. ”
Grimes said that no fundraising numbers were available yet but that the CRF would provide public updates in the near future.
As to fundraising strategies, Grimes said that they were consistent with past processes: “We’re sharing the future-what it could be. We’re talking about getting their college back… we’ve been building a strategy for a couple years now-as we’ve gone through all of this, it’s just good memories… share stories, hope that it touches them somewhere where they want to help support… you do that over and over again.”
The Future of the CRF
The College Revival Fund “is still administering the funds that have been raised so far,” according to Acting President Ellen Borgersen. The Alumni Association, however, has turned responsibility for the college to the Board Pro Tempore-which has taken over the Antioch College Continuation Corporation. “The ACCC does not yet have its 501C3;” Borgersen explained, “The money that the ProTem Board is raising will be housed in the CRF until they get their 501C3 but they will be donor directed funds which the ProTem Board will control.”
After these funds are transferred to the ACCC, the CRF will continue to administer donations for the Nonstop Liberal Arts Institute and the legal fund. “At some point the CRF will go out of business,” said Borgersen, “We’ll go out of business when our work is done… When we have finished the fundraising for Nonstop and when we determine that it’s no longer necessary to maintain the legal fund.”