UA Foundation: No call for dollars yet | Arkansas Blog

Wednesday, May 26, 2010

UA Foundation: No call for dollars yet

Posted By on Wed, May 26, 2010 at 3:01 PM

Spurred by a reader's question, I reached Little Rock laywer, Peter Kumpe, vice chairman of the Board of the University of Arkansas Foundation, about the recent decision of the UA Board of Trustees to give Fayetteville Chancellor David Gearhart a significant pay boost in the form of an annual $225,000 payment in deferred compensation until he retires from the post. Such payments typically accumulate tax free. The money is to be provided by the private UA Foundation.

How can the Board of Trustees make an annual commitment to an employee with money from a private organization it doesn't control?

Kumpe said that the Board of Trustees can only offer and that, of course, it would be up to the Board of the Foundation  to fund the commitment. He said, to date, the Board of the Foundation had not discussed or approved an expenditure to provide deferred compensation to Gearhart. He said there'd been discussions "at the staff level" of the general issue of using Foundation money for deferred compensation to key employees. But he said it would be proper and he added his comments to those of others complimentary of the work Gearhart has been doing. 

"If the Board of Trustees thinks some type of commitment to the chancellor is a good idea -- and if it's consistent with spending policies of the foundation and we're within terms of gift agreements -- there’d be no reason to question doing that," Kumpe said.

 

Kumpe said that the Foundation is independent and operates that way, though its aims may parallel those of the Board of Trustees, which appoints some of the Foundation Board's members.

From the ArkTimes store

Favorite

Comments

Showing 1-1 of 1

Add a comment

 
Subscribe to this thread:
Showing 1-1 of 1

Add a comment

More by Max Brantley

Readers also liked…

  • Judge anticipates punishment of lawyers in Fort Smith class action case

    Federal Judge P.K. Holmes of Fort Smith issued a 32-page ruling yesterday indicating he contemplates punishment of 16 lawyers who moved a class action lawsuit against an insurance company out of his court to a state court in Polk County after a settlement had been worked out.
    • Apr 15, 2016
  • Women's March planned in Arkansas to mark Trump inauguration

    Speaking of Donald Trump and in answer to a reader's question: There will be a women's march in Arkansas on Jan. 21, the day after inauguration, as well as the national march planned in Washington.
    • Dec 30, 2016
  • IHOP coming down, but .....

    I always scan the Little Rock City Board for items of interest this week and this one caught my eye: A zoning measure required by a proposal to tear down the IHOP at Markham and University.
    • Apr 30, 2016

Most Shared

Most Viewed

Most Recent Comments

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation