Towson foundation declines to change investments after SGA resolution “urging” it to divest from Israel
By Sarah Sternhagen, Editor-in-Chief
The foundation that manages donations to Towson University has not changed its investments, despite calls from the Student Government Association last year to divest from “companies and funds supporting the occupation in Gaza.”
The SGA passed a resolution in May 2024 on a 12-1-1 vote urging the TU Foundation to stop putting money in investment portfolios with companies connected to the ongoing conflict in Gaza.
The conflict began on Oct. 7, 2023 when Hamas militants crossed into Israel and killed over 1,200 people and took another 250 hostage. The Palestinian Ministry of Health estimates the ensuing war between Israel and Hamas has killed over 50,000 Palestinians. It has also sparked protests at colleges across the country including Towson.
It’s not uncommon for college SGAs to vote on divestment resolutions. The University of Maryland College Park and Baltimore County both saw similar Gaza-related divestment legislation at their SGA’s last year.
TU Foundation President Edna Primrose said the foundation doesn’t invest in individual stocks, but rather larger portfolios that contain a mix of different investment types to make sure the funds aren’t hit too hard if one industry dips in the market. So, the companies the resolution would make the foundation divest from could be a very small percent of the total portfolios it invests in.
“We took a look at our portfolios, and determined at this time we did not need to make any changes,” Primrose said.
The TU Foundation is a separate nonprofit from Towson. It only manages money gifted to the university, which funds scholarships, grants and has even paid into the student emergency fund during COVID-19.
The TU Foundation set up a committee following the SGA passing its resolution to analyze whether the foundation would change its investments. The committee presented its findings to the rest of the board in September 2024, according to Brian DeFilippis, TU Foundation executive vice president.
Seven members of the foundation’s board of directors participated in the committee, including its president, Primrose.
All of the foundation’s annual reports are publicly available online.