PRESIDENT LARRY ROBINSON, Ph.D.
KRISTIN HARPER
…Chairman, FAMU Board of Trustees
Just days after the announcement of FAMU receiving the largest donation in school history, FAMU President Larry Robinson announced Thursday (May 9) that the university would “pause” a historic $237 million donation.
“With regards to the gift and the processing of it … We’ve already decided that it is in our best interest to put that on pause,” Robinson said, the Tallahassee Democrat reports.
We reported earlier that Florida A&M University (FAMU) received a staggering $237.75 million contribution from the Issac Batterson 7th Family Trust. Gregory Gerami, CEO of Batterson Farms Corp, presented the generous donation to FAMU during Saturday’s (May 4th) commencement ceremony at the Al Lawson Center.
This record-breaking donation is earmarked to bolster student success programs and enhance athletics at the esteemed institution.
However, following an emergency FAMU Foundation Board meeting on Thursday, Robinson stated that the university would pause any further action until it could assess the value of the stock options contributed by Gerami, a trustee of the Isaac Batterson Family 7th Trust.
FAMU Board of Trustees Chair, Kristin Harper, issued a statement on Friday.
“…Serious concerns have been raised regarding the validity of the gift, the adequacy of the due diligence process and whether the Foundatio0n Board and Board of Trustees have been provided ample oversight opportunity.
“As a result, the following actions have been taken:
*The administration was directed to conduct briefings with each Trustee
*A special Board of Trustees meeting will be convened on Wednesday, May 15, 2024 at 3 p. m. …to seek truth and recommend any corrective actions necessary…”
Chairman Harper asks for “patience and grace” while they work to “gather information, take action, and build a stronger Florida A&M University.”
The donation to the university has elicited praise and skepticism from FAMU staffers and alumni. Some expressed concern about Gerami’s background and financial history, which cast doubt on his portrayal as a wealthy hemp farmer and entrepreneur.
