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PSU Foundation president and chief executive officer Francoise Aylmer, left, and Portland State University's chief development officer Kristin Coppola are resigning after pursuing a $100 million gift. The donation, which never materialized, turned out to have been offered by a self-described billionaire with a history of insolvency who was widely cited as a promoter of grandiose schemes.
(Portland State University)
The president of Portland State University's fundraising arm and the school's chief development officer are resigning after pursuing a $100 million gift from a self-described billionaire who turned out to be a recently bankrupt bitcoin dealer known for peddling grandiose schemes.
Francoise Aylmer will resign as president and chief executive officer of the PSU Foundation, effective Sept. 1, "to pursue other interests," according to a statement issued Friday. She will also relinquish her position as Portland State vice president of advancement.
Kristin Coppola, an 18-year career fundraiser and former businesswoman, also resigned. She made $170,000 a year.
Mark Rosenbaum, PSU Foundation board chairman, said neither executive was fired and both submitted their resignations voluntarily. He declined to comment on whether they received settlements.
The resignations come as Portland State leaders are trying to raise $300 million in the school's largest-ever fundraising campaign. The public university, a former commuter school, badly needs a financial boost after years of reduced state funding, minimal private giving compared to peers, service cuts and tuition hikes bitterly opposed by students.
The joint statement issued Friday by Aylmer and foundation board chair Mark Rosenbaum noted news reports about would-be donor John Michael Fitzpatrick and his promises ranging beyond $1.1 billion that were never fulfilled. Portland State officials invited Gov. Kate Brown and Portland Mayor Charlie Hales to a news conference to announce a $100 million donation from a then-anonymous donor. They cancelled plans for an announcement after the donation never arrived.
Portland State officials have repeatedly noted that they caught the problem before going public with news of the gift. Portland State informed the Oregonian/OregonLive beforehand of the gift with the understanding the news was embargoed until a half hour into the planned press conference. When the press conference never happened, and another full day elapsed, reporters set out to independently determine what happened, over Portland State's objections.
"Even though this gift was never announced by PSU, the media coverage about the promised gift has overshadowed the many achievements of the foundation and the university," the statement said. "In offering her resignation, Ms. Aylmer stated that she hopes her departure will help the foundation continue its good work without the distractions caused by the gift controversy."
Aylmer makes $278,000 heading the foundation. She also serves as honorary consul for France in Oregon.
Coppola was the No. 2 administrator of the foundation and was Fitzpatrick's primary contact.
Foundation board members are trying to determine why word of a staff report exposing Fitzpatrick's checkered past took more than two weeks to reach Portland State President Wim Wiewel. He and Rosenbaum pulled the plug on the Fitzpatrick deal after growing suspicious during a conference call with the would-be donor.
-- Richard Read
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