A Hamilton man had been named to a leadership position with a recently formed foundation that will privately raise money for the University of Vermont.
Victor Livingstone, a 1987 UVM graduate, was appointed to serve on the Leadership Council of the University of Vermont and State Agricultural College Foundation, Inc.
The foundation was formed on Jan. 1 to replace the university’s Office of Development and Alumni Relations. The 75 employees of the Development office will now work for the new foundation. The Leadership Council is made up of volunteers.
The foundation was incorporated in March 2011 and has been organizing its administrative and governance structure since then, according to an announcement by the university issued last week.
"We couldn't be more pleased with the way the UVM Foundation has come together in the last year," said UVM Foundation President and CEO Richard Bundy said in last week’s announcement. "With an outstanding Board of Directors and Foundation Leadership Council in place, capable and experienced fundraising staff, and a strong and expanding base of engaged donors, we're eager to take the university to a new level of philanthropic support."
Bundy came to Vermont from the Iowa State University Foundation.
The Foundation will raise money for the university in much the same way as the Development office, and will be the “the primary and preferred recipient for charitable gifts that benefit the university.”
The Foundation will also work to create a supplemental endowment for the university.
The UVM Foundation is an independent organization governed by its own Board of Directors and assisted by the work by the volunteer Foundation Leadership Council, which is comprised of major donors.
"This alliance has broad implications for the financial health of the University, and its impact will be felt throughout the institution," said UVM Interim President John Bramley as part of the announcement. "With the establishment of the University of Vermont Foundation, UVM has signaled its intent to become more engaged in the broader scope of American philanthropy."
While the Office of Development and Alumni Relations was eliminated and rolled into the UVM Foundation, the UVM Alumni Association will continue to operate its programs and initiatives as part of the UVM Foundation.
Private donations to UVM increased for the fourth straight year in the most recent fiscal year ending June 30, 2011, totaling $29 million.