NOV 12, 2013 ROTARY IN REVIEW:
Richard Beeson, Chair, U of M Board of Regents

DAVID LAIRD and BOB JONES led the assembly in God Bless America, followed by CAROL BUFTON who presented the invocation on this chilly remembrance day of the eleventh hour of the eleventh day of the eleventh month that ended the Great War.

MIKE FRANKLIN facilitated the introduction of one visiting Rotarian and two guests, including U of M Regent TOM DEVINE, who joined the speaker at the head table.

Greeters were thanked (PAUL DEGEEST and YVONNE ECKDAHL), Facebook was promoted, Recruiting was reinforced, and upcoming events were pitched including TRENT WALDRON on behalf of the December blood drive-Tuesday.

MICHAEL-JON PEASE came forward to give an update on Holiday Party planning – always a wonderful evening with the Rotary Family.  Past President DOUG BRUCE took his place to speak about Foundations Giving Month, and the opportunity to use the Give to the Max website to take care of your annual giving.  DONOVAN SCHWICHTENBERG completed the end-of-year trifecta by asking everyone to sign up for a Salvation Army Bell Ringing slot on the clipboards on every table.

New Club Ten Rotarian KRISTIN MONTPETIT of the Saint Paul Athletic Club was introduced by STEPHANIE LAITALA-RUPP.  We look forward to getting to know her over coming months!

Finally, KATHLEEN RILEY passed the hat for Happy Dollars/Happy News – and enough money was contributed to break with protocol and sing Happy Birthday to Past President BOB JONES on his birthday, instead of waiting for the scheduled Tuesday of the month!

Past President JAY PFAENDER introduced our program; Chair of the U of M Board of Regents RICK
BEESON.  A well-known St. Paulite, Rick spoke mostly about the role that the Board of Regents plays.

Of course, the U and many larger universities have been influenced by three major events in their history: the Land Grant Act in 1862; the GI Bill of the 1940s; and the emergence in recent decades of university research on behalf of or in place of corporate R&D.

There are 12 regents on the board, variously elected and approved.  Their role is to clarify mission, monitor performance of the University President, and approve policies and plans and budgets, among other things.  The board operates through committees, including finance, audit, legislative relationships, etc.

The Regents have a relationship with the larger MNSCU entity – five campuses, and 30-some extension offices, research centers, and facilities.  There are three basic roles for this system:  teaching, outreach and research. 

With regard to teaching at the U itself, there are 42,000 freshman applicants each year for a class of 5500.  Most of those accepted are tops in their high school class with an ACT score of 30 or higher.  68% of the undergrads are Minnesota residents.  The 2012 graduation rate was 58%.  (It was only 26% just twelve years ago.)   With regard to research, the U received $750 million for research projects in 2012 – number eight in the USA.

With regard to outreach and public service - the extension offices, contribution to work-force productivity, health care work-force development, and more – the U calculates that for every $1 invested by the state, $13 is returned.  (The state contributes less than 20% of the U’s total income.)

With regard to “what’s next,” Rick spoke mostly about the constant battle between demand for resources, and cost containment.  Revenue streams from patents can be significant – but are not predictable.  Most future private fundraising will likely be focused on building scholarships and scholarship endowments rather than bricks and mortar – all families earning less than $75,000 are already deeply or fully subsidized – once their child is admitted.