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January 14, 2008

Oral Roberts U. Accepts $62-Million Gift, Agrees to Change Its Board

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

Posted on Monday January 14, 2008 | Permalink |

Comments

  1. Spam—albeit referenced—is still spam.

    — Curtis J Taylor    Jan 15, 09:23 AM    #

  2. Wow! Talk about buying a university. Is this a hostile take-over?

    — Sharon Miller    Jan 15, 10:03 AM    #

  3. Is ORU merely replacing one bad governing body with another? That is what it looks like.

    New ad tagline for ORU: “We give you the best Christianized education Mart Green’s money can buy!”

    — JPS    Jan 15, 11:27 AM    #

  4. I wonder when the name changes to Green University? With this set of strings, the university has sold its soul. I don’t say it’s not a tough decision, but like the old saying, the issue of what they are is no longer in dabate – and now we know what their price is.

    — Al    Jan 15, 12:23 PM    #