Some of you have written in about the development incentive compensation program. In 2006, the Board of Trustees approved a team-based incentive program for fundraising achievements, and we have an agreement to pay Development and Alumni staff bonuses based on their meeting specific criteria.
The awards are funded through savings specifically for the program, and the men and women who worked to secure much-needed contributions exceeded their fundraising goal for 2008 by $9 million when they raised $184 million last year.
We think it is the right thing to honor our commitment for 2008, but going forward the incentive program is suspended and under review pending economic improvement.
