IU Foundation elects new board members, vice chair

The IU Foundation has elected two IU trustees to its board of directors. Harry Gonso, an Indianapolis lawyer, was elected the vice chair.

IU trustee President William Cast and trustee Tom Reilly are now on the board, according to an IU press release.

According to the bylaws of the IU Foundation, there must always be three trustees on the board to create communication between the University and the foundation, said
Barbara Coffman, the foundation’s spokeswoman.  

The president of the board of trustees is usually one of the three that is on the foundation’s board.

Cast was appointed to the board in 2005 and was elected president of it in 2009, according to the board of trustees’ Web site.

Coffman said a committee of directors looks at potential board members and reviews recommendations.

There are 13 committees within the IU Foundation, Coffman said. Board members are expected to be part of them.

Gonso’s position as vice chair means that he communicates between the board and IU President Michael McRobbie.  

In 1990, Gonso was elected to the IU Foundation’s board, according to the press release. He is currently a partner at the Indianapolis-based law firm Ice Miller. He is also a former IU trustee.

All were elected for a three-year term, but there is no limit to the number of terms a person can have within the board.

The foundation has been around since 1936 and has previously had trustees on its board, according to the press release. It raises money for University priorities and manages the endowment.

“(Gonso) has a long history with the board,” Coffman said. “He is very well respected.”