Annual Board of Trustee Meeting Summary 2024
Dear Grinnell Community,
The Board of Trustees gathered for their annual meeting on campus May 2-4, 2024. During their meeting they deepened deliberations and problem-solving for our budget and business model challenges. The budget challenges have annual impacts; the business model challenges have inter-generational impacts. All touch on the culture and understanding that surrounds the endowment.
Board leadership arrived early to meet in person with Executive Council, Staff Council, and Student Government Association leadership. Connecting with these groups shapes Board discussions and is animportant part of the Board engaging with campus.
On Thursday the Board joined members of the Science Division and learned from a presentation by Kristen Burson, Associate Professor of Physics. Professor Burson was recently selected to participate in the Department of Energy's Visiting Faculty Program. After dinner, trustees gathered with students in the atrium.
On Friday morning, Trustees had breakfast with the staff from the Physical Education, Athletics and Recreation department and went into session to hear reports from President Harris, Chair Kahn and an enrollment update from Joe Bagnoli.
Prior to arrival on campus, the Board prepared by listening to a pre-recorded video from Germaine Gross regarding the FY 25 operating and capital budgets. Their time together discussing the budget was spent asking questions and seeking clarifications, because of the excellent presentation Gross had prepared. As a reference, this portion of the meeting and several sessions that follow are focused on Collective Equity (objective 3) in the STRATEGIC PLAN: – Financial stewardship that is prepared to meet the needs of the educational mission and those of the faculty, staff and students who sustain it.
For the remainder of the morning, the Board spent time with Joe Bagnoli, understanding the remarkable achievement of forming a class within the FAFSA challenges experienced throughout higher education and discussing the student revenue portion of Grinnell’s business model. The primary focus of these discussions being - outcomes that are both mission-driven and solution-oriented towards the budget and business model challenges.
During lunch student leaders from experiential centers (the Wilson Center for Innovation and Leadership, DASIL (Data Analysis and Social Inquire Lab), Institute for Global Engagement, Center for Prairie Studies, Center for the Humanities, Rosenfield Program) joined the Board.
After lunch the Board continued their focus on the College’s financial model by hearing from JT Thayer and Bernadine Douglas about how their areas of revenue — endowment and philanthropy — impact the revenue options available to meet mission.
For this session, dedicated to the Diversity Design Team’s work in response to the Supreme Court’s decision on affirmative action in the summer of 2023, members of Executive Council, faculty that serve on board committees, Staff Council leadership, SGA leadership and members of Senior Leadership were invited to hear Marc Reed and Joe Bagnoli, offered a fireside chat conversation during which they asked questions of one another that demonstrated the deliberations and decision-making that shaped the diversity design team initiatives. This session was intended to show the complexity of the admissions and higher-ed landscape following the SCOTUS decision on affirmative action and the thoughtfully planned course of action for Grinnell. We asked the Board to consider their ability to advocate for and connect the efforts of the Diversity Design team to the current challenges in higher education and Grinnell’s budget and financial model challenges.
After this session, Bernadine Douglas shared the feasibility study and campaign timeline. This portion of the meeting focused on Belonging and Connection, objective 3, from the STRATEGIC PLAN: – Alumni experience more communal and philanthropic engagement with Grinnell.
The final session on Friday was a panel of President Harris’s direct reports answering questions about the dynamic between the budget, the financial model, and Grinnell culture about the endowment – what changes do we need to make to uphold our mission and values? What is the most creative or decisive action the College can take? The Board was appreciative of this format and the expertise among this cohort.
President Harris and Professor Mackenzie hosted the Board for a celebratory dinner. Honoring retiring members of the board – Kathryn Mohrman ‘67 and Eric Whitaker ‘87. We also had the pleasure of celebrating the historic signing of a three-year contract with the student union.
Saturday morning the following votes were taken and passed:
- Approval of minutes from February 2024 and the awarding of degrees to those eligible for Commencement 2024
- Election of Board Officers
- Tenure and Promotion
- Election of Board of Trustee members to another term
- Election of new members to the Board of Trustees – Steve Pickle ‘90, Gabe Rodriquez ‘00 and Yuki Narula ‘94
- Election of Yuki Narula ‘94 to the Exit 182 Group LLC
- Election of Board members to another term in Exit 182 Group LLC
- Approval of the IRS Form 990
- Approval of the FY 25 operating and capital budgets
- Naming of 1527 Broad Street, as the Hannah Alumni House in recognition of M.E. Hannah ‘58
- Resolutions honoring Kathryn Mohrman ‘67 and Eric Whitaker ‘87
I extend thanks for all that Grinnellians on campus and beyond do to achieve our academic mission and institutional goals. Well wishes for a fulfilling summer!