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| Larry Robinson addresses trustees during yesterday's emergency board meeting. |
The FAMU Board of Trustees meet, yesterday, during a nearly two-hour-long special meeting which was dominated by numerous recommendations that led to a unanimous vote of the hiring an external firm to perform a complete investigation surrounding a purported $273 million transformative donation to the university, made over a week ago. the major gift since its inception.
The investigation is expected to determine what happened, when it happened, who was involved, and the process university officials followed in accepting the donation and determine compliance with policies, processes and financial controls.
Hours before the meeting, Shawnta Friday-Stroud, the VP President of Advancement and Dean of the School of Business (SBI) at FAMU stepped down from her role as Vice President to focus solely on leading SBI following mounting questions, and the media fallout, about the legitimacy and value of the donation.
President Larry Robinson, who initially championed the gift as a game-changer for FAMU, accepted full responsibility for the debacle, acknowledging that he overlooked warning signs in his eagerness to secure much-needed resources for the university. During the meeting, Robinson conceded that errors were made in vetting the gift, and apologized.
Trustees, however, expressed frustration and dismay over the handling of the donation, lambasting school leaders for failing to involve the board in the decision-making process and raising concerns about the lack of transparency surrounding the deal. Some trustees openly criticized Robinson and board chair Kristin Harper, highlighting the need for greater oversight and accountability in future fundraising endeavors.
The calamity over the bogus donation has propelled FAMU into a crisis of confidence and credibility among the university’s top leadership.