Portland State’s PSU Foundation, a nonprofit organization created to manage private donations to the university, appointed new members to its board of directors last month, taking up the positions of president, first vice president, treasurer and secretary of the board.
The PSU Foundation, created in 1963, is a separate organization from the university, but it works closely with most members of the university’s administration. Although the foundation does not make its own contributions to Portland State, it is in charge of facilitating the movement of donations and volunteer support from the private investors to PSU.
The PSU foundation’s board of directors
The foundation’s board of directors is made up of up to 50 volunteer members, 11 of which make up the executive committee. Each member sits in one or more chairs of ten different subcommittees, divided into categories such as real estate and investments.
The executive committee is made up of nominated officials from the ranks of the board of directors, who are then elected to these positions in a vote by the board.
Meet the new board members:
John Petersen, president
Petersen, 58, is responsible for cultivating relationships with business leaders from the community, and assisting the university whenever he can. However, he is not a director, Petersen said.
“I wouldn’t presume to direct, but I can influence things,” he said.
Throughout his day, Petersen facilitates the transfer of funds to the university, mostly through board of directors meetings and his connections to both PSU and the city.
Though he is not an alumnus of PSU, Petersen said he has much appreciation for the school.
“The school has outstanding community connectivity, and is one of the main economic drivers in Portland,” said Petersen, who has held office since June, and has been a member of the board since 2004. “It provides a lot of good things, and helps the city to be as good as it should be.”
Although there are no term limits imposed on the office of presidency, Petersen plans to step down this June.
Marc Fovinci, first vice president
Fovinci, 49, who has also been a foundation member since 2004, is an investment advisor with Ferguson Wellman, a local investment firm. The first vice president’s main responsibility is to be ready to take over if the president is unable to assume his duties, because he no longer works for the PSU Foundation or if he is under the weather.
Fovinci’s other duties include chairing the investment committee, which is responsible for overseeing the investment objectives of the boards, as well as reporting on the performance of various investments.
“I’ve always felt that education is important to the community, and Portland State is the main educational driver for the region,” Fovinci said.
Les Fahey, treasurer
Fahey, 63, is responsible for the oversight of the financial area of the foundation, as well as reviewing budgets and financial results. Fahey has extensive experience in finance, and, having retired from his job with a National CPA (Certified Public Accountant) firm over seven years ago, he now does consulting for many firms.
As a PSU alumnus, Fahey has a lot of respect for the school and its students.
“I think that the typical Portland State student is a little more serious about their education than most college students, and because the students are motivated, the teachers can get excited about their work,” he said.
Tom Fink, secretary
Fink is also a member of the foundation’s subcommittees of the development, real estate and executive spheres. In addition to his work with the PSU foundation, Fink is also a board member and former chair of St. Mary’s Academy, Providence Child Center and Janus Youth programs, local and regional organizations.