Dueling foundations. Hear the banjos playing?
Medical College of Georgia officially had a new foundation Thursday even as the old one continues to express its disapproval over the split.
Under the eye of a half-dozen members of Medical College of Georgia Foundation -- the old foundation -- the school's real estate corporation met in an MCG conference room and voted to become the new foundation, called the Georgia Health Sciences University Foundation.
New chairman Clayton P. Boardman III was among the members who were appointed to the new foundation by MCG President Daniel W. Rahn. Mr. Boardman said the new foundation will look statewide to fill out its 19-member board as a way of broadening its appeal. Only three members will be from MCG itself, he said.
William E. Mayher III, a member of the real estate corporation, recused himself before the vote because he felt it was a conflict of interest because he is the chairman of MCG Foundation. But he also expressed his disapproval of the move.
"It will harm the school in the long run because I think it is a duplication of efforts," Dr. Mayher said.
Dr. Rahn had asked the old foundation's board to resign so he could appoint a new one. When they wouldn't, the school moved to create a new foundation.
After the meeting, Dr. Mayher said the rift would end up hurting the school because the "divorce" has angered many older alumni who are more likely to be considering big gifts.
Both sides said they were still willing to listen to talk of reconciliation, but Dr. Rahn said the school is focused on moving forward with its new foundation. Ironically, because the new institution still needs to get some certifications from the Internal Revenue Service before it can accept gifts, he urged donors to continue to give to the MCG Foundation in the meantime. Reasons for giving to the school won't change, he said.
"It's the same institution today as it was yesterday, and it's going to be a better institution tomorrow," Dr. Rahn said. "So we hope that the reasons that lead alumni to give will be apparent and will be strengthened."
Reach Tom Corwin at (706) 823-3213 or tom.corwin@augustachronicle.com.
Comments
Dueling foundations. Hear the banjos playing?
Right out of the Michael Adams play book. When do they change the name to the University of Georgia School of Medicine-Augusta Satellite Division?
Sounds like Rahn is a big fan of the Putin style of governing.
I say way to go Dr. Rahn, I'm all for it.
uhhhhh what huh what happened. We cant spend any money! so we will make a foundation and spen money the way we want to. You mean grease the palms no I mean give it to our own companys. Oh you mean a tax shelter where you donate money for a tax write off and end up spending the money where you want it to go. Well Donate the money and then have the foundation go and buy the property the donator has at a well lets say equitable deal!!! Oh you mean rip off! YEAP
The sound you hear is a clock ticking on the expiration of Dr. Rahn's tenure...it can't come soon enough. Imagine what could be accomplished at MCG with a leader who united all fronts for the benefit of the school.
The Medical College of Georgia Foundation, Inc. was founded October 19, 1954, as a non-profit corporation separate from the Medical College of Georgia. The Foundation is an independent tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code (IRC). It is not a “private foundation” as defined under IRC Section 509(a), and gifts are deductible under IRC Section 170(b). Contributions from generous alumni and friends are used entirely for the purpose specified by the donor in support of the Medical College of Georgia and MCG Health, Inc., its students, faculty, and staff and patients. The foundation has been rated 14th or higher in the nation as such foundations go. All the Board serve as honorary people with no salary and just giving their time, and the foundation was independent of MCG. Now it will be a hand picked dependent group serving Rahn and his agenda. I see no need to end a 54 year foundation for no better reasoning than presented by Rahn. Why all the alumni, the Govenor, the Regents, and public aren't raising hell over this coup is beyond me. This is not legitimate ethical behavior.
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