Members of the marked the end of a successful 2024-25 academic year with an in-depth look at Dartmouth’s research enterprise, continued discussion and voted to advance President Sian Leah Beilock’s commitment to increase housing options, and approved a budget for the fiscal year that begins July 1.
The trustees met June 12-13 in Hanover before joining Commencement celebrations for the Class of 2025 and spending time with this year’s honorary degree recipients, including three distinguished alumni whose careers span the arts, athletics, and law.
“Our June meeting is in many ways the highlight of the Board’s annual calendar. It’s an opportunity to celebrate current graduates at Commencement while also focusing on the needs of future generations in our board meeting,” said Trustees Chair . “At the same time, we deeply engage in the College’s strategic priorities and the board’s fiduciary responsibilities. The board is extremely pleased with the progress we are making on the priorities President Beilock articulated in her Inauguration address less than two years ago.”
“We were also delighted to have the opportunity to celebrate our departing trustees, and . Each is deeply committed to Dartmouth and will long be appreciated for their service, particularly Ric’s impact as vice chair of the board and co-chair of the Resources Committee. Ellie has made equally important contributions through her leadership of the Call to Lead Campaign and as chair of the Advancement Committee,” said Lempres.
Looking ahead to the next academic year, the board approved a $1.6 billion operating budget for FY2026—which includes $312 million for financial aid, a $15 million increase over last year. Dartmouth’s endowment is a significant source of revenue for the budget, and will contribute $470 million in FY2026 for teaching and research, financial aid and student support, and facilities and operations.
Another $93.5 million was approved for capital projects aligning with institutional priorities, ranging from lab and office renovations for new faculty to technology improvements and general facilities renewal. The creation of new housing and, through this work, making progress on Dartmouth’s energy transition remain among Dartmouth’s top capital priorities.
A strategic vision for research
Dean of the and Vice Provost for Research led a discussion of the opportunities and obstacles facing Dartmouth’s research portfolio, the institution’s PhD programs, and an exploration of strategic paths forward.
The discussion explored ways to broaden Dartmouth’s impact in the world. Interdisciplinary programs are a unique strength, they explained. The conversation included how to ensure Dartmouth is organized and resourced to enhance current areas of excellence and identify emerging areas with “break-out potential.”
“As one of America’s leading research universities, Dartmouth has a proud history of discovery in a broad range of fields from artificial intelligence to personal computing to the literary arts,” said Kull. “In addition to discoveries that benefit society, a robust research environment allows us to attract internationally renowned teacher-scholars who help create a world-class liberal arts education.”
The importance of Dartmouth research—and the discoveries made possible through a strong, long standing partnership with the federal government—are highlighted on that keeps the campus community, alumni, and supporters up-to-date on efforts to defend higher education. Dartmouth has supported five lawsuits this year seeking relief from sudden grant terminations and cuts to indirect cost rates by multiple federal funding agencies.
Progress on housing continues
Senior Vice President for Operations reported that construction of the new 285-bed Russo Hall on West Wheelock Street and renovations of the Fayerweather residence halls remain on time and on budget. When these projects are completed and online by the fall of 2026, Keniston said, they will add approximately 320 new beds to campus.
Freeing up more housing for graduate students remains a priority, Keniston said, as does continuing to partner with the Town of Hanover to ensure Dartmouth can build additional housing units close to campus. A new “overlay” district that will aid that effort by allowing incremental development in certain areas of town to address the severe housing shortage passed at the annual Hanover Town Meeting in May. Construction has also started on new faculty and staff housing south of campus in West Lebanon, N.H.
Trustees approved the allocation of $2.5 million to plan the renewal or replacement of two of the undergraduate “River Cluster” residence halls: French and Judge.
“Each of these projects brings us closer to delivering on President Beilock’s commitment to add 1,000 units of housing for students, faculty, and staff over the next decade,” Keniston said. “We also remain focused on increasing the efficiency and resiliency of our existing buildings, including efforts to modernize undergraduate housing near the heart of campus.”
Board elects vice chairs, new secretary
Trustee was elected and was re-elected as a vice chair of the board. Huang is Executive Chairman of Global Investment Banking at Morgan Stanley, based in New York, and a member of the company’s Management Committee. Finegan is a partner at Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C, in Boston and is chair of the firm’s Pro Bono Committee.
Dartmouth’s Executive Vice President for Strategy and Special Counsel to the President was elected as Secretary to the Board of Trustees, adding to her current responsibilities a role she has played since the departure of former general counsel and board secretary Sandhya Iyer in August 2024.
“Jomshya has been a trusted partner to the Board as Interim Board Secretary. We’re delighted to formalize the role and continue to partner with her,” Lempres said.
Annual Integrity and Compliance Program update
Board members received update from Alejandro Diaz, chief compliance officer. He reminded the board of the planning and design work completed in 2023, and provided a two-year progress update on program deployment.
Diaz highlighted the work across multiple units to receive and resolve reported concerns and claims, the transformation of the Whistleblower Hotline to the, and related efforts to foster a “speak up” culture among faculty and staff. He also shared current and future efforts to improve compliance training and awareness of.
“I’m proud of the progress we’ve made to foster a culture of integrity and respect on campus,” said Diaz. “We are managing risk and protecting the values and ethics of the institution while meeting, and hopefully exceeding, the standards for an effective compliance program under federal guidelines.”
In other business, board members again discussed the new administrative unit merging the Faculty of Arts and Sciences and the Division of Student Affairs and officially named it the “School of Arts and Sciences.”
The school will take shape beginning July 1, with new structures formalizing collaborations among faculty and professional staff that will enhance the student experience—as they earn degrees from Dartmouth College—and further enable the research enterprise.
