UA-R-GC-1914-01-01-1976-05-19_Page-028

· , I , THE AMERICAN UNIVERSITY IN CAIRO 866 UNITED NATIONS PLAZA, NEW YORK, N. Y. 10017 TELEPHONE (212) 421-6320 July 19, 1976 To: The Board of Trustees, The A~ic~niversity in Cairo From: Landon K. Thorne, Chairman Attached to this is a newsletter from President Byrd ·that summarizes many of the accomplishments of the University in recent months. As I read it, I was impressed with the strength of AUC, and with the progress it has made this year. This strength and progress are the direct result of the leadership of Cecil Byrd, the contributions of the administration and faculty and, of course, the concerned involvement of the Trustees. All deserve accolades. One of the characteristics of AUC that most stands out in this report is the essential humanity of the institution. The University is still small enough and still sufficiently personalized to care about a disabled student, or to recognize twenty years' faithful service by a boab, or to spend hours helping individual faculty members assess strengths and weaknesses, or to pause for a few moments to grieve the untimely death of a colleague. In a QUsy and complex world, such concern for the individual is all too rare. Other accomplishments of the year also merit comment. The unique endowment­investment program of the University Educational Endowment Fund is now onstream, and has completed its first transaction under Egyptian Law 43, a $10 million aluminum extrusion plant. Any new venture of this kind takes a long time to become operative, and more time is required in Egypt becaus~ of the complexities of the laws, the economy, and the bureaucracy. To have accomplished so much in such a relatively short period of time is noteworthy. During the year, the Fund has also become financially detached from the University, has added two new members to the staff, and is now undergoing a structural reorganization to achieve additional efficiencies and to provide greater legal securities for its management, its leadership, and the University. AUC finances continue to be a matter of concern as we seek to reduce our dependency on United States counterpart funds. However, this year we achieved internal economies that reduced expenses, and we generated additional income. In this latter effort, Management Extension Services continued to generate income from its programs, and its potential is still great. We strengthened our fund-raising by expanding the number of donors and by increasing the size of gifts from previous contributors. The generosity of Trustees continues to be an example for others, with nearly $200,000 contributed through this group. Naturally, I hope that this generosity will continue to improve, and that we will have 100% participation, both in personal giving and in causing others to give