By Jordan Corona
The Baylor Bear Foundation will no longer operates as a non-profit, independent from the university.
The foundation collects monetary gifts for Baylor athletics scholarships.
Members of the Baylor Bear Foundation held a vote to dissolve the group’s non-profit status and formally incorporate with the university, around 1P.M., Saturay March 22.
The member’s opted to pass the measure, 59-2, which would make the Bear Foundation an operating entity under Baylor University. But incorporation already had unanimous support from the foundation’s board of directors and executive committee, said Bear Foundation President Mark Peterson.
“Ultimately it just makes sense for us to consolidate,” he said. “Incorporating helps us work more closely with the university.”
Foundation members took the elevator to the Galloway Suite at the now empty Floyd Casey Stadium for the vote around noon Saturday. At a sign-in table, each member received a ballot slip with the motion described at the top and a place to indicate support or non-support.
“No one will notice a change,” he said. “The foundation was organized to raise charitable donations for Baylor. What helps our ability to raise money is the university giving us the rights to assign seating.”
The Bear Foundation achieves its monetary goals by rewarding supporters with reserved seating at university athletic events.
After the audience heard an update on McLane Stadium development, seating options and support, Peterson took the podium, announced how the member’s ballots should be submitted and said the move for incorporation would have no effect on the foundation’s current leadership.
“By the Bear Foundation becoming in-house, it allows for more streamline operations, better coordination with university development and better record keeping for the university,” said Ian McCaw, Baylor Director of Athletics.
Foundation members will be officially notified of the ballot decision, Monday morning via email, Chris Manning of the foundation’s executive committee said.