The Rackham Board of Governors was established according to the terms of the Rackham bequest, which was accepted by the Board of Regents in September 1935. The bequest calls for the continued existence of this body. The President of the University serves as Chair of the Board and the Rackham Dean serves as Secretary. The three other members serve six-year terms. The Board itself approves the appointment of new members as vacancies arise.
The purpose of the Board of Governors is three-fold:
- To review the investment strategy of the endowment funds (which are co-mingled with the University's general endowment) to assure they are handled in a responsible way
- To approve an annual budget for use of the funds as proposed by the Rackham Dean
- To represent Horace and Mary Rackham by enforcing the terms of the bequest and applying them when questions arise, e.g., for special use of funds, issues related to the Rackham Building, terms of Board members, etc.
Members of the Rackham Board of Governors
- Mary Sue Coleman
- President, University of Michigan: Chair, Board of Governors
- Janet A. Weiss
- Dean and Vice Provost for Academic Affairs, Rackham Graduate School
- Robin L. Garrell
- Vice Provost and Dean of the Graduate Division, and Professor of Chemistry and Biochemistry, UCLA
- Alfredo Gutierrez
- President, North Bay Equity
- Harriet Zuckerman
- Senior Fellow, Mellon Foundation