The Auburn University Foundation, which receives charitable contributions that are given to Auburn University and Auburn University Montgomery, has appointed four new directors to its board and selected a new board chair.
The new directors are Benny LaRussa Jr., Dottie Kenady Blair, Ronald Dykes and Maj. James Hoskins.
The new board chair is Jeff Stone.
Blair, who owned a business for 25 years that she sold in 2008, graduated from Auburn University of Montgomery in 1981.
"I'm looking forward to serving on the board," Blair said. "I think that since I am a graduate of Auburn University of Montgomery, I can bring knowledge and information about that part of the Auburn system to the other board members who may not have ever even been on the Auburn Montgomery campus."
The Auburn University Foundation is a separate organization from the University that develops contributions with donors and manages the donor's money, Stone said.
They then distribute the money for the purposes that the donors intended it to be used for.
"Our endowment now that we manage is roughly $500 million," Stone said. "The earnings off that endowment get distributed for the benefit of the University students and the programs and faculty and so forth."
Stone graduated from Auburn in 1979 and is currently the chief operating officer for Brasfield and Gorrie, a construction firm.
The board members may serve a term up to four years, but can serve two terms.
"Right now, God willing and good health and all the other factors of life for people my age, that would be a good outcome if I could contribute for that period," Dykes said. "To be able to work with a group like this is a great opportunity for anyone."
Dykes graduated from Auburn in 1969 and has retired from his position as chief financial officer of BellSouth Corporation.
Dykes is currently on the administration and audit committees.
The board is divided into different committees including the finance, audit, development, directorship and investment committees as well as the Auburn University Real Estate Foundation.
"We each have our own individual responsibilities and during our term on the board we rotate through and serve on all the different committees," Blair said. "I currently serve on the development committee and I also serve on the Auburn Real Estate Foundation."
LaRussa, who is from Birmingham, graduated from Auburn in 1982. LaRussa is the founder and chief executive officer of Sterling Capital Management.
"I'm honored to be asked to serve and I look forward to providing whatever support I can and input that's of any value to Auburn University and the foundation," LaRussa said.
The Auburn University Foundation chooses their board members using an internal development committee, Dykes said.
"The foundation has an internal development committee to identify candidates who have a broad background in various things," Dykes said.
The development committee then puts forth a candidate to the board and the board decides who it wants to join.
"I've worked with great people throughout my career and this is just another step in that direction," Dykes said.
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