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The Fourth Meeting of the First Session of the NYU Shanghai Education Development Foundation Board
On the afternoon of April 12, 2016, the fourth meeting of the first session of NYU Shanghai Education Development Foundation Board was held in room 1429 at NYU Shanghai. The meeting was convened and presided over by the Executive Director of the Foundation, Mr. Teng Yilong. NYU Shanghai Vice Chancellor, board member of the Foundation Jeffrey Lehman briefed the Board on Foundation's recent work. The Foundation has successfully completed audit work for FY 2015 and undergone the annual inspection for Foundations in Shanghai by the Civil Affairs Bureau. The summary of the annual work report will be released on both China Social News and Foundation website before the end of the year. In addition, the Foundation completed the "Three into One" license replacement work at the beginning of the year.
Border member Lehman also shared the Foundation's past-year work in fundraising and donation management with other board members. To further expand payment methods, the Foundation added Alipay on its online donation platform, where Wechat Pay will soon be available as well. The Foundation has also expanded its giving options into research and student activities in addition to scholarships and financial aid. While talking about some of the funds being used to support students' participation in community service, board member Joanna Waley-Cohen introduced to the Board the Deans’ Service Scholar Program, which was unique of NYU Shanghai. Deans’ Service Scholar Program began with a donation of $5000 from two deans and then developed into a program with over 120 participants. This program encourages students to connect academic research with social activities and to engage deeply in community service in Shanghai, other parts of China and the world while learning social development and the knowledge of social science at school.
Given that the Charity Law of the People's Republic of China was examined and passed in this March by the National People's Congress and will take effect on September 1 of this year, all members carefully read and studied the Charity Law and its reference article --- 10 expectations and 8 progresses.
At the meeting, board members voted and approved, by a show of hands, on the budget for FY 2017, Procedure for Records and Archives Management, Procedure for Accounting Archives Management, significant charitable spending on scholarships and scientific research, and signed the resolutions. Later, they engaged in the discussion upon the Foundation's fundraising strategy, the impact of the promulgation of the Charity Law on the Foundation as well as other issues.