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Board allows Lyndon Upwardbound quasi‑endowment to be liquidated to preserve TRIO services
Summary
Trustees approved a request to convert a Lyndon Upwardbound quasi‑endowment (about $50,000) into an operating account so the local TRIO/Upwardbound program can continue student transition supports while seeking sustainable donations and responding to flat federal funding.
The board approved a request from Vermont State University to liquidate a longstanding Lyndon Upwardbound quasi‑endowment to provide short‑term, flexible support for TRIO/Upwardbound student transition activities.
Administrators explained the quasi‑endowment held about $50,000 and had historically been capped in annual distributions. Lyndon program leaders and Kelly Beck, BTSU’s vice president for student success, told trustees the change would move funds to an unrestricted account to allow the program to use the money flexibly—primarily to help high school participants with preliminary college expenses and transitional scholarships—while seeking private donations to sustain those supports.
Trustee questions focused on whether the program itself would continue (administration said yes) and on the magnitude of the funding gap; presenters said the program will remain in place and the quasi‑endowment liquidation provides bridge support as federal TRIO funding remains level. Upwardbound director Rick Williams and VPS Kelly Beck walked trustees through the rationale and potential future fundraising.
Quote: "We don't need the $50,000 right away, but we're planning for the future so that we can continue to serve the needs of the students," Kelly Beck said.
Board action and follow up: The board approved the liquidation and authorized the university to move the funds into an operating account for Lyndon Upwardbound. Trustees encouraged development staff to seek targeted donations to replenish endowment support and to report back on program sustainability plans.
