President Richard Corcoran and the Board of Trustees are seeking to exert more authority over the direct-support fundraising organization, aiming to control restrictive funds for new initiatives.
Critics fear that the administration's power to remove foundation members without cause could lead to the misuse of restricted funds at New College.
The adjustments approved by the Board of Trustees raise concerns among donors and alumni about potential abuses of power in redirecting funds designated for scholarships.
Since the appointment of new trustees in 2023, the board has consistently clashed with faculty and donors over governance and financial oversight issues.
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