Reaffirming the Fiduciary Responsibility of the Indiana University Foundation Board of Directors

April 1, 2005

WHEREAS, the Indiana University Foundation, established in 1936, is charged with the raising, administering and investing of private funds for the benefit of Indiana University; and

WHEREAS, the Indiana University Foundation Board of Directors has responsibility for the fiscal integrity of the Foundation, and has fiduciary and stewardship responsibility for the gift funds; and

WHEREAS, the Indiana University Foundation Board of Directors assures that donor intent is protected as gifts are accepted, administered, expended and invested, and that the long-term purchasing power of invested gifts is safeguarded;

NOW, THEREFORE BE IT RESOLVED that the Trustees of Indiana University reaffirm the fiduciary responsibility and authority of the Indiana University Foundation Board of Directors for assuring donor intent related to gift funds.

Unanimously approved on a motion duly made and seconded.