UA-R-GC-1914-01-01-1976-10-20_Page-041

I I I -2- of a middle administrative level should be sought for the position. This would allow the program undertaken by Mr. Wallace to continue while the Trustees reassess their fund raising goals. If it is then felt that the services of a highly-paid professional fund raiser are needed, one could be recruited. Mr. Crary felt that the Trustees should move immediately to replace Mr. Wallace with a person of equivalent experience and position. 4. Report on AID - The report on the AID situation was expressed in Mr. O'Connor's letter to the Trustees (attached). 5. Circulation of audit report - It was decided that additional copies of the AID audit report on the Fund should not be circulated at this time. Copies have already been sent to those Trustees directly involved. Moreover, the audit is available for any Trustee to read in the Chairman's office. It was felt that distributing more copies would increase the risk of its falling into unauthorized hands. This could jeopardize AID's desire to discharge the audit and inhibit fund raising efforts. Once the audit is formally discharged by AID the matter will be reviewed. 6. Staffing of the Fund - It was agreed that the LE Endowment Fund should cover any staffing needs in the near future by hiring short-term consultants rather than by retaining permanent high-priced staff. It was noted that Messrs. Dater and Snaith have an extremely heavy workload and may require additional help in clearing up past difficulties and getting the Fund into a position to move ahead more professionally