KCTCS Foundation Board of Trustees Meeting

Guest Attendees

Guests	Attended
Bill Curtis, Advancement	Yes
Shannon Rickett, Special Assistant for KCTCS Institutional Planning and Strategy	Yes
Melissa Rowe, Advancement	Yes
Katie Vogel, Advancement	Yes

Welcome and Introductions

Chair Stephanie Bell called the meeting to order at 3:01pm

Mission Moment

Partnership with Evolve 502: Marland Cole

• Overview of the history of Louisville’s Education Movement including removing barriers that impact learning from cradle to career; name was Louisville Promise, rebranded/renamed to encompass more than just promise scholarships, became Evolve502
• Scholarship information

  • Launched scholarship in 2021, provides two-year opportunity (really have three years to complete)

  • Last Dollar Scholarship – covering the gap between tuition and mandatory fees and any federal and state aid a student receives

  • Scholarship gives students options – earn associate’s degree, Career Credential, pathway to a 4-year degree

  • Eligibility – KY resident, graduate from a JCPS high school, complete FAFSA (GED option, military enrollment deferral)

  • Talk with students to help them navigate the system

  • Partner with KCTCS and Simmons College of Kentucky (HBCU in Louisville)

  • Also have a 2+2 Program with UofL

• Opportunity grants + other resources o Opportunity grants for lowest income students—materials needed beyond tuition (adjusted to family income of less than $47k/year)

  • Also provide stipends for books for all students, emergency grants for unexpected challenges/circumstances, and success coaches

  • Coordination of comprehensive services – working with other organizations already working in the community to create community learning hubs

    • This makes the Evolve502 program different from other promise scholarships in the state

• Partnership with KCTCS

  • Students at several KCTCS colleges (primarily JCTC, some at ECTC and BCTC, one each at a few other colleges), more than 2000 served

  • Investment vehicle made available through KCTCS

  • Took 40 diesel students from Fairdale to ECTC to see their programs – field trip, looking to expand opportunities and partnerships

  • Building out additional partnerships –looking at other colleges and universities

• Fundraising o John Guthrie, director of development

  • $29.2 million raised of a $50 million goal, currently framing out phase II campaign – adjusting to meet the promise as well as

  • Most gifts are 3–5-year pledges, those are invested in the Commonfund, they must be used for scholarships and opportunity grants (no operating) in a spend-down endowment, have not had to pull money out to date because of pledges coming out. In year 5 of the early pledges/commitments—bulk of the $29 million is in hand.

  • Take 15% of most gifts to support operations

  • Next step – looking at student success and workforce orientation beyond student enrollment

• Statewide Promise Idea

  • Tennessee Promise for full state of Tennessee

  • Evolve502 hopes to be proof of concept for the rest of the state

Action Items

Approval of minutes from November 26, 2024 meeting: Stephanie Bell

• Motion: Chris Perry
• Second: Linda Rumpke
• Motion to approve the minutes as presented passed unanimously without further discussion.

 

Board Membership: Stephanie Bell

• Chair Bell introduced the nomination of Adam Marley
• Motion: Dr. McCullough
• Second: Chris Perry
• Abstaining:
• Motion to approve the nomination of Adam Marley passed unanimously without further discussion.

Officer role: Stephanie Bell

• Chair Bell introduced the nomination of Nick Phelps to serve as Secretary given Linda’s change to Treasurer.
• Motion: John Gohmann
• Second: Linda Rumpke
• Motion to approve the nomination of Nick as Secretary passed unanimously without further discussion.

Finance & Audit Committee Report

Acceptance of IRS form 990

• Motion: Chris
• Second: Dr. McCullough
• Motion to approve the FY24 Form 990 as presented passed unanimously without further discussion
  
  
• Linda shared that Lew Wallace gave an overview of Commonfund portfolio at the February Finance Committee meeting.
• Megan gave an overview of the financial statements and noted the change to presentation of assets held for others, which the audit recommended separating. This presentation will look different on the balance sheet moving forward. Dr. Stith shared the need to look at options for a brokerage account to accept stock gifts, determine a local deposit option for ECTC, and make plans for a CD which will be maturing soon.
  
  
• Dr. Stith proposed budget revisions, including increasing the amount for legal counsel from $10,000 to $20,000. This amount would allow for more in-depth by-law review and the increased cost would be covered by KCTCS to ensure the entities are independent. The revised budget also included a request to use scholarship income for a KCTCS Giving May match and support scholarships that are system-wide, such as the Pathfinder Award scholarship and Academic Team scholarships.
• Chair Bell called for a motion to approve changes to the budget
• Motion: Linda Rumpke
• Second: Chris Perry
• Motion to approve changes to the budget passed unanimously without further discussion

Other Business

KCTCS Board of Regents Chair Report: Barry Martin

• Reported that things are running smoothly

KCTCS President’s Report: Dr. Ryan Quarles

• Very thankful for Dr. Megan Stith’s work
• Have had more than our fair share of floods recently, auditorium underwater in Floyd County and turned two campuses in Johnson and Breathitt counties
• Disaster relief funds set up for student relief
• Serving Up Solutions Dinner raised $65,000 that evening, next year will be expanding, funds to Feeding Kentucky and support to our food pantries
• Goal this year to spend more time with the foundation board and Dr. Stith
• First year in office – compliance, audit, getting a team in place
• Introduced Chris Crumrine, Chief External Affairs Officer
  • Chris shared legislative
    • Educating elected officials on the recs that came from SJR179
    • Unlock $90 million in project funding for, JCTC, Somerset, and Southcentral
    • Some work on fire commission as well
• Introduced Jessica Stigall, General Counsel, who came to us from Morehead
• KCTCS works with more than 3000 businesses, want to be better locked in with industry, managing partnerships
• Signing WKU transfer agreement tomorrow
• Enrollment up 7% this spring compared to last year
• 3 presidential searches underway at Southeast, SKY, Big Sandy (hoping to finalize by July 1)
• Downsizing some programs, sunsetting 400 certificate programs—look at things that are not relevant now
• Dr. McCullough spoke to the review of programs so that they align with industry needs
• Being intentional about providing opportunities within our jails, recovery centers
• Meeting with Rotary, 4 of 6 promise scholarships heavily funded by Rotary
• Use social media to highlight interesting donations, in-kind donations like the helicopter and PPE
• Shared excitement for Giving Day, Chair Martin challenging the BOR to give with the goal of 100% participation
• 811 setting up a scholarship for multiple colleges through KCTCSF
• Planning to hold a clay shoot fundraiser in September to benefit the foundation

KCTCS Foundation Chair’s Report: Stephanie Bell

• Asked Dr. Stith to present Board engagement menu, gives some ideas for how to amplify the impact of the foundation. The menu showed ways the board could select options for Investing, Influencing and being Involved.

ECTC Foundation Report: Brandon Fogle

• Submitted $200,000 grant application for allied health success
• Johnson Controls grant requested equipment for dual-credit classrooms
• Unstoppable Fund will meet with donors soon and determine priorities for grant awards to support student success. The fund received about 80 gifts last year, including many from new donors,.
• FSH partnership – expect construction to begin in May, projected completion in 2026
• Dr. Pate hosting donor appreciation tomorrow night at his home
• UnGala event netted $25k, Megan shared about the casual nature of the event and karaoke challenge
• Community breakfast scheduled for August 2025 to keep stakeholders informed of college priorities

KCTCS Foundation Executive Director’s Report: Dr. Megan Stith

• Megan has focused on compliance, audits and building a team much like Dr. Quarles.
• Building a system-wide understanding of advancement/fundraising
• Strategic conversation upcoming (likely August meeting) around the KCTCSF case for support and identify a framework for priorities
• We have a lot of ideas and needs, looking at how to invite donors in more intentionally and strategically
• Greatest need for Giving Day – challenge/match gifts, asked board members to consider making a planned annual gift to help incentivize other donors to give. Could be company or individual—need an approximate amount and how you’d like to set it up.

Next Steps

• Chair Bell asked for any other business
• Next meeting on May 19 at BCTC

Meeting adjourned at 4:23pm