The Florida A&M University Foundation Board of Directors elected alumna Lisa LaBoo for a two-year-term as the new Board chair.
LaBoo, who had served as vice chair, succeeds outgoing chairman Jemal Gibson, who led the board for two terms, beginning in January 2019.
“During her tenure as vice chair of the Foundation Board, Lisa LaBoo has led several initiatives that increased giving from Board members and donors. I am excited to work with her and support her agenda and initiatives when she takes the reins as chair of the FAMU Foundation Board of Directors on January 1, 2023,” said Shawnta Friday-Stroud, Ph.D., FAMU Foundation executive director and vice president for University Advancement.
LaBoo attended FAMU from 1983 to 1988, when she completed a Master’s in Business Administration (MBA). A financial advisor, LaBoo is CEO of Prosperity Investment Services Inc., and president of Prosperity Real Estate LLC, both of Eustis, Florida.
Addressing fellow directors before she was elected chair at the November 19 Board of Directors meeting, LaBoo spoke of the need for more fundraising to increase the Foundation’s endowment, which is $106 million.
“My vision is to strengthen the FAMU Endowment to provide financial support for our students and to sustain our University while enhancing our Board,” said LaBoo.
FAMU reported a record $24.6 million in donations for 2021-2022. The Foundation’s investment value is about $142 million.
During the Board voting, Director Ken Neighbors was elected vice chair; Director Freddie Raines was elected treasurer, and Director Erica D. Hill was elected secretary.
Former NAA President Gregory L. Clark was nominated to the Board of Directors. The FAMU Board of Trustees Direct Support Organization Committee is scheduled to vote on Clark’s nomination on December 7.
In other business, board members voted to allocate $350,000 for summer school scholarships for student athletes, $100,000 for the athletic director to use for issues within the department, and $100,000 for the Marching “100” Band.
Outgoing Chairman Gibson recognized board members for their hard work and contributions over the past year.
Among them, Director Marcelia Freeman was recognized for being the highest board donor for the 2021-2022 fiscal year, while Director Hosetta Coleman was recognized for the highest lifetime giving on the Board.
