Summary of December 2022 Board of Trustees Meeting
On the recommendation of the Academic Affairs committees of the Senate and the Board, the Board approved a candidate to be added to a list for consideration for an honorary degree at a future University Commencement. The Board permitted the suspension of Bylaw 81(c) to allow a faculty member to enroll in a doctoral program at NYU.
Trustee Related Matters
In order to honor members of the NYU community who died during the last academic year respectfully and appropriately, the Board resolved that the names of those recognized in the University’s In Memoriam listing would be appended to the minutes of the meeting. In addition, in order to honor long-serving members of the University community, the Board resolved that the names of those who received 25-year Service Citations would be appended to the minutes.
Select Committee Reports
- ·The Audit and Compliance Committee reported on presentations regarding the University’s progress in cybersecurity and the University’s research operations and the importance of compliance. The Committee also reported on the unmodified audit opinions from PricewaterhouseCoopers, notably the FY22 consolidated financial statements for the University and NYU Langone Health. On recommendation of the Committee, the Board approved a resolution to accept the University financial statements and annual report of directors.
- On recommendation of the Finance Committee, the Board authorized the University to obtain a line of credit to replace an existing line of credit that was soon expiring. On recommendation of the Finance Committee and the Facilities and Real Estate Committee, the Board authorized pursuing two real estate transactions, which are now in progress.
- The Academic Affairs Committee reported on its joint meeting with the Senate’s Academic Affairs Committee, which included discussions around research, remote instruction, and student wellness. The Committee also summarized a presentation on the James Weldon Johnson professorship, which is awarded to exceptional professors across the University for the positive impact of their work on society, and their conversation with three current James Weldon Johnson Professors.
- The Alumni Affairs and University Life Committee reported on a presentation it received regarding the student affairs strategic plan focusing on how NYU can better serve its students, specifically in the priority area of Global Inclusion, Diversity, Belonging, Equity, and Access (GIDBEA). The Committee also reported on Alumni Relations’ work to operationalize and advance GIDBEA through developing people, informing and advancing policies, creating and expanding resources, designing community-targeted programs, and integrating philanthropy. The Committee also shared about the success of Alumni and Parents Day in October 2022.
- The Committee on Trustees reported on its working group, which had been tasked with accepting nominations from the Board and bringing to the Committee a recommendation for the next Board Chair. On the recommendation of the working group, the Committee on Trustees, and the Executive Committee, the Board unanimously elected Evan R. Chesler as Chair Designee. Mr. Chesler will succeed William R. Berkley as Chair of the NYU Board of Trustees at the conclusion of Mr. Berkley’s term at the end of August 2023.
- The Development Committee provided an update on the number and total amount of gifts received by the University for FY23 so far, noting a positive overall outlook on fundraising for the University. The Committee also reported on an update it received on Next Gen, an NYU program designed to increase involvement of younger NYU alumni, which is expected to launch a second cohort of approximately ten alumni in February 2023. The Committee shared progress of the Planned Giving Working Group, as well as recent annual giving efforts.
- The Facilities and Real Estate Committee reported on updates regarding construction at 181 Mercer Street, noting that the podium and student housing tower would be open in January 2023, with the faculty housing tower set to open shortly thereafter.
- The Global Initiatives Committee provided a report on NYU Shanghai, highlighting that operations are returning to normal as China is easing certain restrictions regarding COVID. The Committee also reported on the University’s new relationship with Korea Advanced Institute of Science and Technology (KAIST), a leading science and technology institution in South Korea. Additionally, the Committee reported that the University received an increase in applications for study away programs for the Spring 2023 semester, noting an addition of beds that will enable more students to study at NYU global sites.
- The Investment Committee reported that its meeting focused on a review of endowment assets and performance, a market update and a discussion on private equity.
President Andrew Hamilton reported that, following recent incidents of unauthorized intruders entering student residence halls, he had requested a full review of dormitory safety and access.
He invited Fountain Walker, Vice President for Global Campus Safety, and Martin Dorph, Executive Vice President, to discuss with the Board the steps being taken to address the safety concerns, which includes collaboration between units within the University and students, a recently developed webinar for parents, and the University’s continued collaboration with the NYPD.
President Hamilton additionally notified the Board of an event at 181 Mercer to celebrate and announce the gift by former Trustee John Paulson to support the development of the building and the naming of the building in his honor.
Finally, President Hamilton reported that the NYU School of Law had announced that it would withdraw from the U.S. News and World Report rankings following a thoughtful analysis and close engagement with faculty.
Discussion of Student Services
Linda Mills, Vice Chancellor and Senior Vice Provost for Global Programs and University Life, and Jason Pina, Vice President for University Life and Global Engagement, introduced a presentation on student services and the efforts to create a community among students.
Carlos Chirinos, Clinical Associate Professor of Music Business, NYU Steinhardt; David Hollander, Clinical Professor of Sports Management, NYU School of Professional Studies; and Zoe Ragouzeos, Senior Associate Vice President for Student Mental Health and Sexual Misconduct Support, presented at the meeting, with each discussing their experiences with students engagement.