• Henry Madden Library
  • Birds of Paradise
  • Science II building
  • Garden Pathway
  • Fresno State Band
  • Water Fountain
  • Alumni House Entrance
  • Pondering the Future

Foundation History

On May 19, 1922 seven men met for lunch to discuss the work of Fresno State College. This small gathering of community members was the start of what would eventually became the first meeting of the Foundation Board of Governors, incorporated nine years later on June 19, 1931 as The Fresno Foundation.

During the early years from 1922 through the 1940s, the Board of Governors directed significant effort toward expanding the college through land purchases, such as the current site of Ratcliff Stadium and 320 acres of land at Bullard and Chestnut Avenues, considered then to be the far outskirts of the city, the land on which the University now resides.

In 1951 the first grant was received for faculty research in the amount of $1,074, and these research funds were transferred to the Foundation for management. Today, the Foundation manages grant and contracts in excess of $____ million per year.

From 1953 to 1976 the college grew, enrollment doubled, and in 1972 the college was granted California State University status. In keeping with the regional growth, the issues discussed by the Foundation Board also increased in complexity and went beyond that of acquiring land and supporting programs. Because of the number and diversity of issues, the Board created the following committees to focus on specific areas:

The Investment Committee

Formerly known as the Finance Committee, was the first formal committee of the Board. In 1932, one year after the incorporation of the Foundation, the Board recognized its fiduciary responsibility in the custody of scholarship funds. As of May 1938, approximately 15 scholarships were under the Foundation’s care. In the early 70s, the Foundation Board discussed at length the responsibility of investing the endowment funds, eventually deciding on employing the services of a professional investment manager, Dodge & Cox. Today, with over ____ scholarships, the Foundation’s portfolio market value exceeds $_________ and is managed by eight investment managers.

The Audit Committee

The Audit Committee was created in the late 1980s to review the annual audit of the Foundation as well as budgetary matters. This committee plays an active role in anticipating and monitoring audit concerns. Through outstanding leadership, this committee has become a model for a number of Fresno State auxiliary audit committees.

The Endowment Advisory Council (EAC)

The Endowment Advisory Council (EAC) was established by the Board in 2002. It is a group of top investment brokers and professionals, who are mostly based in the local area, and make investment recommendations to the Investment Committee. The council has played a significant role in the Board’s action to diversify the portfolio according to modern investment theory.

The Budget Committee

The function of the Budget Committee was separated from that of the Audit Committee in 2003 in response to the Board’s decision to support the University conducting the first major fundraising effort, the Comprehensive Campaign. On at least a quarterly basis, this committee recommends and reviews the Foundation’s budget. The Membership Committee was established in 2005 with the charge to identify future Board members, develop an orientation program for new members as well as an emeriti program for retiring members.

The Executive Committee

The Executive Committee is charged with decisions related to the acceptance and sale of property and approval of Foundation policy. It was expanded in 2004 to include committee chairs.

Over the years, with State support sliding from 81% in 1976 to 66% in 2008, the University has continued its mission to transform the region by providing affordable, quality education. In considering the future role of Fresno State, specifically its role as the New California’s premier engaged university, the Fresno State Foundation continues to support the University with its mission and vision in meeting the educational needs of its diverse population and contributing to the technological and entrepreneurial enterprises in the valley.

 

The seven members of the Fresno Foundation Board were Fresno Chamber of Commerce President C. T. Cearley, H. E. Patterson, Guy Leonard, M. B. Harris, George Osborne, Edwin Einstein and C. L. McLane, President of the Fresno Teacher’s College

Back to Top