Oral Roberts University’s Board of Regents unanimously accepted on Monday a $62-million gift that came with big strings attached, the Tulsa World reported.
Under the terms of the gift, from the businessman Mart Green and his family, the university will replace its existing Board of Regents with a new board, on which the family will have a significant voice. The donors will name the first 13 out of 22 possible trustees, and will also approve three other trustees, whom the regents will nominate. Mr. Green, the founder of a chain of Christian office- and education-supply stores, will serve as chairman of the new board.
The gift represents the bulk of a $70-pledge made in November, of which the first $8-million was given immediately and unconditionally. The offer came days after Richard L. Roberts resigned as the university’s president. Last week the university partly settled a lawsuit that had led to Mr. Roberts’s resignation. —Charles Huckabee
