The executive committees of the University of Georgia Foundation and the Arch Foundation for the University of Georgia announced April 5 that they have agreed to merge into a single cooperative entity.
Pending approval of both boards of trustees, the new organization will operate as the University of Georgia Foundation.
“I am deeply grateful to the leadership of both the UGA and Arch Foundations, who have worked effectively and with good will over the past several months to merge these two important support entities of the University of Georgia,” said UGA President Michael F. Adams. “All have worked together with a single guiding principle-that we are all stronger together than we are separately. I am grateful to the membership of both groups who have endorsed this agreement.
“Over the past six years, both foundations have acted responsibly in stewarding assets, ensuring the financial stability of the university and its programs,” Adams also said. “Despite the current economic climate, there are certainly brighter days ahead for the University of Georgia, given the strength and dedication of all those who support it.”
The executive committees will present their recommendations for a merger to the full boards of the two foundations. After the merger is approved, the president will recommend to the chancellor and the USG board of regents that the new merged organization be recognized as a cooperative organization.
