Page 18 - October 2023

UNITED TRIBES TECHNICAL COLLEGE SITE VISIT
SEPTEMBER 21, 2023
UTTC Staff
Dr. Leander McDonald - President of UTTC
Brent Kleinjan - Director of College Services
Scott Skaro - Director of Financial Aid
Doreen Malling-Lee - UTTC Business Department Chair
Johnson Scholarship Recipients
Ayanna Maynard - working for the USDA Seed Repatriation Program Rollie Knight - Business Instructor, UTTC Graduate
Daniella Aki - Business Instructor, UTTC Graduate
Simone Iron Boulder - current UTTC Student
Jamie Merrick - UTTC Graduate, UTTC Transfer and Career Services Specialist
JSF participants
Bobby Krause - CEO
Richard Williams - Consultant
After introductions, Bobby provided a brief update about the Johnson Scholarship Foundation. We started a conversation about the UTTC endowment. The original endowment agreement with UTTC was established in 2007 and was to run through 2010, where UTTC would have contributed $400,000, which was to be matched 1:1 by JSF. The total in the UTTC endowment was intended to be $800,000.
The 2022-2023 endowment report shows $333,439 in the UTTC endowment account. In 2007, UTTC contributed $50,000 to the endowment, which JSF matched. For two consecutive years, there were no contributions to the endowment. In 2010, UTTC contributed $100,000, which JSF matched. This brought the total of the UTTC endowment to $300,000.
In 2020, UTTC awarded $6,000 in scholarships; in 2021, UTTC awarded $17,368 in scholarships; and in 2022- 2023, UTTC awarded $15,330 in scholarships. The required scholarship distribution per the endowment agreement was that 5% of the total endowment would be paid out for scholarships each year. UTTC has complied in the last two years.
UTTC recently submitted an LOI with a request of $250,000 to complete the endowment. We briefly discussed the LOI, and the endowment discussion continued, where Bobby offered a plan for the future. Instead of the LOI route, UTTC should petition the Grant Program Committee to consider through a request letter. UTTC should include a comprehensive report.
Bobby explained that the report should include the following:
1. Prepare a comprehensive report detailing the past financial activity, including all scholarships awarded from 2007 to present.
2. Provide information on any distributions made from the endowment during this time.
3. Provide information documenting the endowment performance during this time frame.
4. Provide the most recent audit and copies of the most recent financial statements.
5. Provide a copy of the financial investment policy at UTTC
6. Provide a cover letter from the President supporting the request.
Page 16 October Report