University Foundations Operations and Integration

Final Report


  • ASU Cochair – Dr. Art Dunning, President, Albany State University
  • DSC Cochair – Dr. Richard Carvajal, Interim President, Darton State College


Albany State University

  • Dr. Chanta Haywood, Vice President for Institutional Advancement
  • Mr. Gregory T. Hylick, President, Albany State University Foundation

Darton State College

  • Ms. Cynthia George, Chief Advancement Officer
  • Mr. Christopher Cohilas, Chairman, Darton State College Foundation


  • Merge or Retain Separate Foundations
  • Address Endowment Restrictions
  • Identify Cost/Funding Sources for Changes Foundations Must Make on PPVs
  • Consider Responsibilities of 5 Year Facilities Condition Assessments
  • Analyze PPV Insurance Coverage to Insure Adequate Continuous Coverage
  • Consider Opportunities for Economy of Scale on PPV Projects
  • Consider Refinancing to Lower Cost to Students
  • Discern any Change to Foundation Impact on Existing PPVs or Financing
  • Discern any Impact on Foundation Bylaws
  • Make Changes to Existing Bonds/Warranties
  • Identify Responsibilities for GO Bonds Asset Tracking and Records Retention