FPU foundation board attempting to map the economy

Looking beyond September 11 was the theme of Fresno Pacific University Foundation Board meetings October 26.

An already slipping economy took a slide after the terrorist attacks on the World Trade Center in New York and the Pentagon in Washington, D.C. While it is uncertain how far stock markets will fall and by what road they may rebound, board members must try to chart a path to long-term security. “The board is doing its best to be aware and make decisions that take us to the next step,” said Mark Deffenbacher, executive director of the foundation as well as vice president of advancement and university relations.

Even market advisers disagree. A Merrill Lynch representative spoke to the board, bringing a report that included predictions ranging from a Dow Jones composite average of 3,000 to 30,000, Deffenbacher said.

Board members also heard from attorneys Judith and Robert Wright about changes in tax, planned giving and fiduciary issues. In other action, the board signed a marketing agreement with Forbes Asset Group, an art asset management firm, and formalized a project with the university to build an office complex at the southwest corner of Willow and Heaton near campus for Mennonite Brethren denominational offices.