MINUTES OF THE JUNE 8, 2020, VIDEOCONFERENCE MEETING

OF THE BOARD OF REGENTS

ATTENDANCE

This scheduled meeting of the Board of Regents (“Board”) of the Smithsonian Institution (“Smithsonian”) was held on 

Monday, June 8, 2020. Due to the evolving threat of COVID-19 (Coronavirus), the Board conducted the scheduled 

meeting, business, and executive sessions via videoconference. Chancellor John G. Roberts, Jr. welcomed Regents 

and staff and called the meeting to order at 9:30 a.m. Participating were Regents:

Senator John Boozman

Senator Patrick J. Leahy

Representative Doris Matsui

Representative Lucille Roybal-Allard

Representative John Shimkus

Mr. Steve Case, Chair

Mr. John Fahey

Mr. Roger W. Ferguson, Jr.

Mr. Michael Govan

Dr. Risa J. Lavizzo-Mourey, Vice Chair

Mr. Michael Lynton

Ms. Denise O’Leary

Mr. David M. Rubenstein

Mr. Franklin D. Raines, Nominated Regent

Ms. Kathryn Hall, Investment Committee Chair

Mr. Dennis Keller, Smithsonian National Board Chair

Mrs. Christine Udvar-Hazy, Advancement Committee Chair

Vice President Michael R. Pence and Senator David Perdue were unable to participate in the meeting.

Smithsonian and Regent staff present by invitation of the Board were: 

Lonnie G. Bunch III, Secretary

Greg Bettwy, Chief of Staff to the Secretary

Roger Brissenden, Acting Under Secretary for Science 

and Research

Victor Castillo, Office of Representative Roybal-Allard

Michael M. Crow, President of Arizona State University1

Kate Forester, Deputy Chief of Staff to the Regents

Mallory Gianola, Special Assistant to the Regents

(recorder)

Kevin Gover, Acting Under Secretary for 

Museums and Research

Cathy Helm, Inspector General

Toni-Marie Higgins, Office of Senator Boozman

Judith Leonard, General Counsel 

Stephanie Lightfoot, Office of Senator Perdue

Julissa Marenco, Assistant Secretary for 

Communications and External Affairs and Chief 

Marketing Officer

Era Marshall, Director for the Office of Equal 

Employment and Minority Affairs

Mike McCarthy, Under Secretary for Administration

Kevin McDonald, Senior Adviser to Senator Leahy

Jeffrey P. Minear, Counselor to the Chief 

Justice

Ruki Neuhold-Ravikumar, Acting Under 

Secretary for Education

Meroë Park, Deputy Secretary and Chief Operating 

Officer

Craig Roberts, Office of Representative Shimkus

Vernon L. Simms, Director of the Office of 

Government Relations

Robert J. Spiller, Assistant Secretary for 

Advancement 

Porter N. Wilkinson, Chief of Staff to the Regents

1 Participated in strategic discussion only
2

BUSINESS MEETING

Welcome

Proposed

Announcement of a Gift

Recognition of Retired 

Regent

Executive Committee 

Action

REPORT OF THE CHAIR OF THE BOARD AND EXECUTIVE COMMITTEE

Board and Executive Committee Chair Steve Case began his report by welcoming 

the Board to its first meeting held via videoconference. He also welcomed Denise 

O’Leary to her first meeting of the Board of Regents following the confirmation of 

her appointment.

Mr. Case introduced the first business item for the Board’s consideration: the 

proposed announcement of a $25 million gift from Bank of America. The Board of 

Regents is responsible for approving gifts of $10 million or more. Mr. Case noted 

that the Smithsonian is requesting the Board approve a policy exception to allow 

the Institution to recognize Bank of America as the founding donor to the “Race, 

Community and Our Shared Future” initiative. Upon motion duly made and 

seconded, the Board unanimously voted to approve the recognition of Bank of 

America’s $25 million commitment to support the “Race, Community and Our 

Shared Future” initiative.

See attached Actions 2020.06.01 (Minutes of the Board of Regents, Appendix A).

Mr. Case then presented the second action item on the agenda: the formal 

recognition of retired Regent John W. McCarter, Jr. as a Regent Emeritus. 

Pursuant to Board bylaw 2.11, the Regents may confer the title of Regent 

Emeritus on former Regents “who accept responsibilities for continuing activities 

in the interests of the Smithsonian Institution.” Mr. McCarter served with 

distinction as a Regent and remains involved with the Smithsonian in a 

meaningful capacity. Upon motion duly made and seconded, the Board 

unanimously voted to confer the title of Regent Emeritus on Mr. McCarter.

See attached Actions 2020.06.02 (Minutes of the Board of Regents, Appendix A).

In conclusion, Mr. Case briefed the Board on one action taken by the Executive 

Committee on behalf of the Board, pursuant to Board Bylaw 3.01, between the 

April and June meetings. The Executive Committee approved the 2020 Regent 

committee member assignments for Denise O’Leary, as proposed by the 

Governance and Nominating Committee. He noted that the Executive

Committee’s approval was requested on behalf of the Board to enable Denise to

begin service on the assigned committees prior to the June Board meeting.

APPROVAL OF THE CONSENT AGENDA

Mr. Case turned the meeting over to Dr. Risa J. Lavizzo-Mourey, Vice Chair of the

Board of Regents, to present the Consent Agenda (“Agenda”) for the Board’s 

consideration. Mr. Case recused himself from the Board’s discussion and vote 
3

Consent Agenda

Questions on Written 

Committee Reports

Written Report of the 

Advancement

Committee

Written Report of the 

Audit and Review

Committee

because of his relationship to a donor of one of the gifts included on the Consent 

Agenda. Action items listed on the June 8, 2020, Agenda included: recognition of 

former Regent and Congressman Sam Johnson; the approval of minutes from the 

April 6, 2020, Regents’ meeting; the appointment and reappointment of 

candidates to six (6) Smithsonian Advisory Boards; bylaw amendments to the 

Smithsonian Science Education Center Advisory Board; and gifts and naming 

recognitions. Upon motion duly made and seconded, the Board voted to adopt 

the Agenda, constituting the approval of all action items listed therein.

See attached Actions 2020.06.03 (Minutes of the Board of Regents, Appendix A).

QUESTIONS ON WRITTEN COMMITTEE REPORTS

Next, Mr. Case provided an opportunity for Regent committee chairs and 

Smithsonian staff to answer questions on the written reports distributed in 

advance of the meeting by the Advancement Committee, Audit and Review 

Committee, Compensation and Human Resources Committee, Facilities 

Committee, Governance and Nominating Committee, Smithsonian National 

Board, and Office of Government Relations.

Written Report of the Advancement Committee

The Advancement Committee conducted a videoconference meeting on April 28, 

2020. During the meeting, the Committee reviewed notable gifts and grants 

received since the February 2020 meeting, and voted to recommend one gift 

action and two administrative actions to the Board of Regents. The Committee 

also received an update on planning for the next Smithsonian fundraising 

campaign and discussed the impacts of COVID-19 (Coronavirus) on Smithsonian 

fundraising strategies. The Assistant Secretary for Advancement briefed the 

Committee on the progress of fiscal year 2020 fundraising. As of March 31, 2020, 

the Smithsonian had raised $125.52 million towards its $230 million goal.

Written Report of the Audit and Review Committee

The Audit and Review Committee reported on an action taken between its 

January and July meetings. The Committee voted via electronic ballot to approve 

a one-year extension for lead audit engagement partner, Rosemary Meyer, with 

the Smithsonian’s external auditor KPMG.
4

Written Report of the 

Compensation and 

Human Resources 

Committee

Written Report of the 

Facilities Committee

Written Report of the 

Governance and 

Nominating Committee

Written Report of the 

Smithsonian National 

Board

Written Report of the Compensation and Human Resources

Committee

The Compensation and Human Resources Committee conducted a

videoconference meeting on May 7, 2020. During the meeting, the Committee 

received an update on ongoing personnel searches, the approved Smithsonian 

organizational change, and the settlement between the Smithsonian and 

American Federation of Government Employees regarding the re-classify certain 

employees from exempt to non-exempt under the Fair Labor Standards Act. The 

Committee also discussed pursuing Direct-Hire Authority for the Smithsonian and 

the continuing development of an alternative executive compensation pay band 

approach for Trust market-based positions. 

Written Report of the Facilities Committee

The Facilities Committee held a teleconference meeting on April 22, 2020. During 

the meeting, the Committee was consulted on and approved the final negotiated 

terms for the purchase of the Capital Gallery Building for the Smithsonian’s 

consolidated administrative headquarters. The Committee also received updates

on the impact of COVID-19 and the facilities capital and maintenance programs.

The Committee reviewed the Smithsonian’s real estate portfolio and the progress 

of major capital projects, including the funding strategy for the National Air and 

Space Museum rebuilding, which is expected to exceed the original contingency 

by approximately $64 million.

Written Report of the Governance and Nominating Committee

The Governance and Nominating Committee met on March 4, 2020. During the 

meeting, the Committee voted to approve appointments and reappointments to

six (6) Smithsonian advisory boards and proposed amendments to the bylaws of 

the Smithsonian Science Education Center Advisory Board. Additionally, the 

Committee approved its recommendation to the Board for the 2020 committee 

assignments for new Regent Denise O’Leary and reviewed the current Board of 

Regents Bylaws and discussed potential amendments related to the new 

organizational structure.

Written Report of the Smithsonian National Board

The Smithsonian National Board (“SNB”) held its virtual spring meeting April 23-

24, 2020. The meeting centered on the Smithsonian’s Earth Optimism Summit

(“Summit”). SNB members participated in the Summit’s panel discussing Climate

Change and Coastal Cities, and then broke out for a conversation with

environmental scientists moderated by Anson “Tuck” Hines, Director of the 

Smithsonian Environmental Research Center. The SNB meeting also included

working group and committee meetings, segments of the Earth Optimism

Summit, and the SNB business meeting. 
5

Written Report of the 

Office of Government 

Relations

Smithsonian Introduced 

Legislation

Smithsonian Related 

Legislation

Congressional Briefings 

and Engagement

Report of the Finance 

Committee

Fiscal Year 2022 Federal 

Budget Priorities

Written Report of the Office of Government Relations

The Office of Government Relations (“OGR”) reported that appropriations staff 

continue to work on spending bills for fiscal year 2021. The Smithsonian’s fiscal 

year 2021 request includes $820 million for Salaries and Expenses, and $290 

million for Facilities Capital. The Smithsonian was also provided an additional $7.5 

million for enhanced museum cleaning protocols, security, and information 

technology as part of the emergency funding resulting from the Coronavirus 

global health crisis.

In addition, OGR reported on legislation introduced by the Smithsonian. On

May 5, 2020, H.J.Res.87 and H.J.Res.88 were introduced by Representative

Regents Doris Matsui, Lucille Roybal-Allard, and John Shimkus. H.J.Res.87 

provides for the reappointment of Michael M. Lynton as a citizen Regent for a 

second term, while H.J.Res.88 provides for the appointment of Franklin D. Raines

to a first term on the Board of Regents. Both bills have been referred to the 

Committee on House Administration. On May 11, 2020, Senator Regents John

Boozman, Patrick Leahy, and David Perdue similarly introduced identical 

legislation as S.J.Res.72 and S.J.Res.73. The bills were both referred to the 

Committee on Rules and Administration.

OGR was informed that the Department of Treasury delayed the printing of 

Women’s Suffrage Centennial Coins until August 2020. The coins were meant to 

celebrate the passing of the 19th Amendment to the U.S. Constitution and be 

issued January 1, 2020, through December 31, 2020, with proceeds supporting 

the Smithsonian’s American Women's History Initiative.

Despite telework for most Congressional staff, OGR has maintained its regular 

oversight meetings with the Senate Rules and Administration Committee and the 

House Administration Committee. Congressional briefings and hearings focused 

on the Pod 6 collections storage facility; Smithsonian Education Newsletter; 

Congressional Suffrage Testimonial Project; Clotilda and Africatown and the 

National Museum of African American History and Culture Slave Wrecks Project; 

and the Smithsonian’s pandemic prevention and response related to COVID-19. 

REPORT OF THE FINANCE COMMITTEE

Chair of the Finance Committee Roger Ferguson gave the Committee’s report and 

presented two action items for the Board’s consideration: (i) the fiscal year 2022

federal budget priorities, and (ii) the fiscal year 2021 Endowment Payout.

Mr. Ferguson noted that the fiscal year 2022 budget request is due to the Office 

of Management and Budget (“OMB”) on September 9, 2020. He highlighted the 

Institution’s priorities for the fiscal year 2022 federal budget, which include: nondiscretionary cost increases such as salaries and expenses, facilities maintenance 

and security, major capital projects, and strategic priorities such as post COVID-19 

requirements, education initiatives consistent with a Virtual Smithsonian, 
6

Fiscal Year 2021 

Endowment Payout

Report of the 

Investment Committee

Consolidated 

Administrative 

Headquarters

collection digitization, collection scholarship, and research initiatives. Upon 

motion duly made and seconded, the Board approved the fiscal year 2022 federal 

budget priorities proposed by the Secretary

See attached Actions 2020.06.04 (Minutes of the Board of Regents, Appendix A).

Next, Mr. Ferguson presented the fiscal year 2021 Endowment Payout 

recommendations. The Smithsonian has historically paid out five percent of the 

trailing average market value per share over the previous five years in order to 

support programs and activities. Since 2012, the Regents have also approved an 

additional annual payout of up to one percent to support advancement activity. 

Mr. Ferguson noted a lesser payout has been recommended and approved since 

the conclusion of the Institution’s Capital Campaign. The projected payout to 

support programmatic activity for fiscal year 2021 is $78.1 million and the payout 

to support advancement activities is estimated at $3.3 million. Upon motion duly 

made and seconded, the Board approved the fiscal year 2021 endowment payout 

recommendations.

See attached Actions 2020.06.05 (Minutes of the Board of Regents, Appendix A).

REPORT OF THE INVESTMENT COMMITTEE

Chair of the Investment Committee Katie Hall gave the Committee’s report and 

previewed the June 9, 2020, Investment Committee meeting. The Committee will 

review the portfolio actions taken due to the significant volatility in the equity, 

credit, and energy markets over the past quarter. Ms. Hall shared a preliminary 

performance report and noted that the Smithsonian Endowment’s one-year 

return as of March 31, 2020, over the trailing one-year, three-year, five-year, and 

ten-year periods, generated returns against the policy benchmark of 3.9% versus

-5.1%, 8.1% versus 1.8%, 6.7% versus 2.2%, and 7.8% versus 4.2%, respectively.

UPDATE ON MAJOR FACILITIES PROJECTS

Under Secretary for Administration Mike McCarthy updated the Board on the 

status of the purchase of the Smithsonian’s Consolidated Administrative 

Headquarters. At the June 2019 meeting, the Board approved moving forward 

with the purchase of the Capital Gallery Building, provided that the Facilities 

Committee and Finance Committee were briefed on and approved the final 

negotiated terms. Final consultation was held with the Facilities Committee on 

April 22 and the Finance Committee on May 11. Mr. McCarthy reviewed the final 

terms of the purchase including language provided by Congress in the fiscal year 

2020 federal appropriation for purchase of the building, environmental and due 

diligence procedures, terms of financing and bonds, and final negotiations with 

the seller. A June 2020 date is targeted for the close of purchase.
7

Pod 6 Collections 

Storage

Strategic Report of the 

Secretary

Convening Critical 

Contemporary 

Conversation

Education Initiatives

Virtual Smithsonian

Mr. McCarthy also reported on the “Pod 6” collections storage facility at the 

Museum Support Center (“MSC”) in Suitland, Maryland. In June 2015, the Board 

approved the acting Secretary’s request to seek Congressional authorization to 

construct a new collections storage facility at the MSC. Mr. McCarthy shared that 

the Smithsonian is planning to seek an update to the previously approved 

Congressional authorization to design, build, and construct an additional 

collections storage facility, which would incorporate necessary changes to 

authorizing legislation to reflect the proposed partnership with the National 

Gallery of Art (“NGA”), as encouraged by the Office of Management and Budget.

The Smithsonian and NGA signed an initial Memorandum of Understanding in 

April 2019 to jointly seek approval to request authority and federal 

appropriations from Congress. The request will be brought to the Facilities 

Committee for further review and recommendation.

STRATEGIC REPORT OF THE SECRETARY

Secretary Bunch updated the Board on the state of the Smithsonian and shared 

his strategic vision for the Institution. His report focused on the strategic 

initiatives of convening critical contemporary conversations; amplifying

education; creating a Virtual Smithsonian, highlighting the early success of Open 

Access and the American Women’s History Initiative; and providing a nimble,

cost-effective, and responsive core infrastructure.

The Secretary briefed the Regents on his efforts to navigate the dual pandemics 

caused by the Coronavirus and issues surrounding race, racism, and racial 

identity. In an effort to support the country during this time, the Smithsonian 

launched Smithsonian Cares, a broad digital resource featuring learning resources 

to promote online educational engagement and provide tools and guidance to 

empower and inspire conversations about diversity, equity, access, and inclusion.

The Smithsonian will continue to create new forums to proffer solutions to 

problems of national and global importance.

Next, the Secretary reported on the progress of education initiatives. The 

Smithsonian has increased its commitment to serve as a trusted resource of 

knowledge and leading collaborator to Pre-K - 12 educational systems

nationwide. The Secretary shared plans to develop a national education outreach

strategy and scale the Smithsonian’s Learning Lab to become a coordinated

education portal.

The Regents also received updates on the progress of developing a cohesive

Institution-wide experience using innovation and technology, by creating a Virtual 

Smithsonian. The Secretary highlighted the American Women’s History Initiative, 

Open Access, and the new “Talking About Race” web portal released by the 

National Museum of African American History and Culture. These are leading 

examples of digital programs that increase awareness of the Institution’s diverse

collections, broaden its reach to new audiences, enhance the relevancy of the 
8

Nimble Core

Impact of COVID-19 

(Coronavirus) on the 

Smithsonian

COVID-19 Financial 

Impact

Reopening Strategy

New Normal

Smithsonian, and create the potential for partnerships for mission-critical and 

digital-first goals.

To conclude, the Secretary briefed the Board on plans to build a nimble and 

effective core. Efforts taken to advance this strategic priority will include 

developing and implementing an approach that drives innovation throughout the 

Institution, strengthening delivery of human resources services, building strategic 

partnerships with units, implementing streamlined decision-making, increasing

budget planning transparency, and fostering an integrated collections strategy.

STRATEGIC DISCUSSION ON COVID-19 (CORONAVIRUS)

Secretary Bunch then updated the Board on response and prevention efforts 

related to COVID-19 (Coronavirus), including the financial impact, Reopening Task 

Force, and New Normal Committee. 

The Secretary briefed the Board on the current and projected budgetary effects 

of COVID-19 on the Smithsonian and the mitigation strategies underway to offset 

this impact. The Board reviewed the immediate actions taken by the Institution, 

which included a mandatory 10 percent one-year reduction in Senior Level Trust 

pay, elimination of Senior Level Trust pay increases and cash awards, central 

discretionary cost reductions, and implementation of a hiring freeze for Trust 

positions. The Regents discussed other potential actions under review to offset 

the financial impact, based on the duration of museum closures and projected 

cumulative negative effect.

Next, Secretary Bunch reviewed the Smithsonian’s reopening strategy. The Board 

received details on the goals and implementation strategies of the four-phase 

reopening approach, which is guided by criteria set forth by local and federal 

governments and health organizations, as well as the Centers for Disease Control. 

The Secretary shared early scenarios for reopening two locations to the public: 

the National Air and Space Museum’s Steven F. Udvar-Hazy Center in Chantilly, 

Virginia, and the National Zoological Park. The Secretary noted that reopening 

phases will be operationalized and refined, and stressed the possibility that 

reopening may be halted, or regress, by an increase in COVID-19 cases.

To close the discussion on COVID-19, the Secretary outlined the work of the New 

Normal Committee, which is being chaired by the John and Adrienne Mars 

Director of the National Air and Space Museum Ellen Stofan. Secretary Bunch has 

directed the 15-member committee to address the future of the Institution and 

what it means to be the Smithsonian upon reopening. Four subcommittees will

address different aspects of the overarching goal: Big Ideas, The Evolution of 

Onsite and Digital, How We Work, and How We Operate Profitably and Flexibly. 

The committee plans to deliver recommendations to Secretary Bunch and the

Smithsonian leadership team in August.
9

Strategic Discussion 

with Michael M. Crow

Executive Session: 

“Gatekeeper” Reports

Adjournment

STRATEGIC DISCUSSION WITH MICHAEL M. CROW

The open session ended with an opportunity to engage in a strategic discussion 

with Michael M. Crow, President of Arizona State University (“ASU”). Dr. Crow 

shared his experiences at ASU and the ways its leadership has utilized technology 

innovation, agility, and collaboration to revolutionize and enhance education at 

the university. He highlighted the following key elements to help drive 

organizational transformation: inclusion, focusing on the audience, developing a 

fast culture, responsibility for outcomes, creating a design-based management 

culture, and embracing technology. The Board discussed the importance of 

fostering a Virtual Smithsonian and setting a new trajectory for the Smithsonian 

while the museums, research centers, and National Zoo are shuttered, and 

empowering units to commit to a mission-critical strategic transformation.

EXECUTIVE SESSION: “GATEKEEPER” REPORTS 

The Board then closed the open session at 11:56 a.m. to conduct executive 

sessions with the Smithsonian’s Gatekeepers, including the Secretary, Deputy 

Secretary and Chief Operating Officer, Under Secretary for Administration, 

General Counsel, and Inspector General.

ADJOURNMENT

There being no further business to discuss, the meeting adjourned at

approximately 12:01 p.m.

Respectfully submitted,

Lonnie G. Bunch, III

Secretary
APPENDIX A: ACTIONS OF THE

JUNE 8, 2020, MEETING OF THE BOARD OF REGENTS

VOTED that the Board of Regents approves the recognition of Bank of America’s $25 million 

commitment to support the “Race, Community and Our Shared Future” initiative. [2020.06.01]

VOTED that the Board of Regents confers the title of Regent Emeritus on John W. McCarter, Jr.,

with deep gratitude for the outstanding service he has provided, and will continue to provide, 

to the Board of Regents and the Smithsonian Institution. [2020.06.02] 

VOTED that the Board of Regents adopts the Consent Agenda, which constitutes the approval 

of all action items listed therein. [2020.06.03]

VOTED that the Board of Regents expresses its profound appreciation to the memory of 

the Honorable Sam Johnson, esteemed statesman, American hero, former Regent, and 

true friend of the Smithsonian Institution, and extends its heartfelt sympathies to the 

Johnson family.

VOTED that the Board of Regents approves the minutes of the April 6, 2020, 

teleconference meeting of the Board of Regents.

VOTED that the Board of Regents approves the proposed slate of candidates for 

appointment or reappointment to six (6) Smithsonian Institution advisory boards.

VOTED Board of Regents approves the proposed amendments to the bylaws of the 

Smithsonian Science Education Center Advisory Board.

VOTED that the Board of Regents recognizes the generosity of SB Group US, Inc. and 

accepts the terms of the sponsorship agreement.

VOTED that the Board of Regents creates a quasi-endowment for the benefit of the 

Smithsonian American Art Museum to support its fellowship program. Further, the 

Board of Regents authorizes the transfer of the funds identified for this purpose.

VOTED that the Board of Regents creates a quasi-endowment for the benefit of the 

National Museum of the American Indian to support the museum’s conservation 

department. Further, the Board of Regents authorizes the transfer of the funds 

identified for this purpose.
2

VOTED that the Board of Regents approves the fiscal year 2022 federal budget priorities 

proposed by the Secretary. [2020.06.04]

VOTED that the Board of Regents approves a five percent payout from the Smithsonian 

Endowment in fiscal year 2021 to support programmatic activity. The Board further approves a 

0.5 percent payout from the Smithsonian Endowment in fiscal year 2021 to support 

advancement activity. The payout shall be calculated against the trailing five-year average 

market value of the Smithsonian Endowment. [2020.06.05]