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2 - Egyptian, Mr. Hyde asked Dr. Pelowski what he consider.ed to be the breakeven point in terms of the new staff and the monies to be raised. Mr. Crary mentioned $100,000 asa figure and Dr. Pelowski agreed. Dr. Pelowski stated that the target this year in'annual giving is $1.03 million, Dtit that next year's target will be lowered to $750,000. Dr. Pedersen said that this slip had been antici~ ?ated, since it is a normal post-campaign phenomenon but that it must be overcome, Dr. Pelowski said that in Cairo they have high hopes that the Parents Association " '''ill come forthwith consistent, substantial annual support • Mrs. Desforges was asked about the audience here in the ,United States, and she commented that it would include alumni, former faculty~ interns; fellows, YABs~ and members of the Arab American Community. 4. Dr. Pelowski then turned the committee's attention to the dormitory project, stating that an approximate total of $2~5 million needs to be raised to reach the total project cost of $8.5 million. He said that he had had an -excellent meeting that morning with Bil~ Lipsc~mb, an AUC Associate and fo"rmer program officer of the Kresge Foundation, to discuss submission of -a proposal on the dormitory project to the Foundation. Mr. Lipscomb has offered to review our proposal and to alert Mr. Marshall, the hew President of the Foundation, about the University's role in the Middle East. Mr. Lipscomb has also suggested that we seek $600,0'00 from Kresge~ but cautioned that we should not make an approach until we are confident that the remaining amount needed could be raised within 12 to 15 months. Trustee friends on the Kresge Foundation Board will also be a he;lpful element. Dr. Pelowski mentioned that the Cairo office is researching parents of former dormitory residents for future solicitation attempts, and said that Dr. Pedersen will be taking a trip with Dr. Pelowski to Saudi Arabia next fall to solicit others there. Mr. Lipscomb had said that if AUC were to submit in July the University would have a response by October. The committee agreed with Dr. Pelowski that this would be too early and that it was more likely the University would submit next fall or winter, particularly since there are still some details to be worked out with AID. 5. The library endowment was the next item presented by Dr. Pelowski. He told the committee about the submission of a proposal to ~he McCune Foundation and asked Dr. Lamont or Dr. Pedersen to comment. Dr'. Lamont stated that AUC had submitted a request for $150,000 to $200,000 to help fund the library endowment and that there was some reason for hope of success since the Foundation has proved itself ~ stable supporter of projects in the past. Dr. Pedersen mentioned that the Foundation had been unusually i.nsis"tent about the amount of detail required for the submission which had made working on this proposal with them quite difficult. He said that AUC hopes to raise $1 million-to supplement the $300,000 already in the endowment. 6. Dr. Pelowski's next item for discussion was th~ President's Club, which had been previously discussed. Mr. Crary asked how many members AUC was seeking to have join, and Dr. Pelowski said a minimum of 500 on an annual, on-going basis. Mr. Reed said that he would donate $1,000 to encourage other Trustees to contribute to this as well, since he felt that each member of the Board should be a participant. 7. Mr. Crary covered the agenda item concerned with planned g1v1ng, and stated that there are 10 Trustees and 2 Honorary Trustees participating and that the Fund is yielding approximately 9% a year. Mr . Reed suggested that the Board be reminded once again about this and othe