WVU Board approves $1.13 million in matching funds for Research Trust Fund; outlines new meeting structure
West Virginia University’s Board of Governors, meeting via teleconference Friday (June 25), approved $1.13 million in new Research Trust Fund contributions for submission to the state for matching funds, bringing the total approved by the Board to $7.8 million.
The gifts/pledges include:
- Quad/Graphics Research Chair in Internal Medicine – $1,000,000
- Fithian Family Foundation Endowment #2 for Behavioral Medicine and Psychiatry – $100,000
- Raymond Brooks Vanscoy Cancer Research Endowment – $30,862
- James A. Kent Endowment for Biomedical Engineering – $6,000
With this request, which will now be sent to the vice chancellor for science and research at the West Virginia Higher Education Policy Commission, private and state dollars combined will bring WVU’s total to $15.6 million in investments in key research areas.
The state created the Research Trust Fund in 2008 with an initial appropriation of $50 million ($35 million for WVU, $15 million for Marshall) to leverage public and private investments that will help transform West Virginia’s economy.
WVU is able to tap into the fund to double private gifts that support expansions to research faculty and infrastructure in key areas linked to economic development, health care and job growth. Those areas include energy, nanotechnology, biosciences and biometrics.
In other business, Chairwoman Carolyn Long outlined changes to the 2010-2011 Board meeting schedule. Starting this fall, the agenda will include a visit to one of WVU’s colleges or schools as well as separate meetings with one of WVU’s three constituency groups – faculty, staff and students.
The Sept. 16-17 meeting will include a visit to the College of Engineering and Mineral Resources and a session with faculty. At the Nov. 11-12 meeting, the Board will hear from students and have a special presentation from those involved in initiatives to hire and support veterans. The December 10 meeting is by phone. Classified staff will have an opportunity to make their presentation at the Feb. 3-4, 2011, meeting.
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