UA-R-GC-1914-01-01-1978-05-11_Page-002

-2- 4. Report of the Development Committee - Mr. Devine The meeting held previously that morning was summarized. Mr. Devine announced that he is stepping down as Chairman of the Development Committee and will be replaced by Mr. Jungers. There was a vote of thanks by the Board of Trustees to Mr. Devine for his outstanding efforts and he was urged to remain active as a member of the Committee, to which he agreed. The quarterly report of the Development Office (attached) was summarized: total gifts for the quarter are $175,000 as compared to $139,000 for the same period last year; major gifts received since the last report are: $35,000 from Esso Middle East, $25,000 from Amoco Foundation and a testamentary gift of $20,000 from former Trustee Helen Sanders plus a $10,000 gift from her foundation; all but six Trustees have contributed so far this fiscal year. Trustees were urged to assist in efforts to obtain a special showing for AUC of the Treasures of Tutantkhamen at the Metropolitan Museum of New York. The objective is to invite five to six hundred guests for an evening showing and reception under an arrangement whereby AUC would pay for the extra costs involved (e.g. guards, refreshments, etc.) but would not be charged the $25,000 fee which the Museum is levying for such showings. Mr. Devine read a letter from Mrs. Lila Acheson Wallace to the Chairman of the Board, Mr. Thorne, (copy attached) conveying to the University an unrestricted gift of $100,000. Mr. Devine added the stipulation that 10% of the gift should be transferred to the permanent endowment. He presented the letter and check to Mr. Thorne and the Trustees expressed their gratitude to Mr. Devine for his role in making the gift possible. . .. /