LU responds to former foundation’s demand for financial info
A spokesperson for Lincoln University issued a statement via email Sunday afternoon in response to a Friday press conference held by the leaders of the 62nd and 65th Regiments Legacy Foundation.
Formerly known as the “Lincoln University Foundation,” the non-profit group was severed from the public University in February after a nearly 50 year working relationship.
LU communications director Misty Young released the following statement Sunday afternoon:
“We understand that certain representatives of the Foundation established to support the University held a press conference on Friday, April 5. In connection therewith, the University wishes to state that it appreciates the work that has been done over the years by the Foundation on behalf of the University. However, at this point, the University believes that it can accomplish its fundraising activities directly through its Office of Institutional Advancement and Alumni Relations. Accordingly, the University is seeking to facilitate a transfer of certain funds and activities from the Foundation to the University. Rest assured that any funds obtained from the Foundation by the University will be used by the University consistent with donor intentions for the programs and activities so designated for those funds. In addition, on a related point, the University will also be advising past scholarship recipients as to the process for continuing receipt of their scholarship through the University.”
In the statement, Young also addressed the foundation’s request for financial information and other records.
“One last item is that the University is collecting certain records requested by the Foundation and will provide same to the Foundation as soon as reasonably possible,” the statement said.
Watch the full press conference with the leaders of the 62nd & 65th Regiments Legacy Foundation below:
ABC 17 News contacted University General Counsel Jacqueline Shipma Monday for further information, but Shipma declined to release any other comment or detail beyond the content of the press release.
