The National Center for Addiction Studies and Treatment Foundation’s Board of Trustees Adopts Operating and Investment Policies
Tulsa, Okla. (October 5, 2021) — The Board of Trustees of the National Center for Addiction Studies and Treatment Foundation (NCAST), established to support the National Center for Wellness and Recovery (NCWR) at Oklahoma State University Center for Health Sciences (OSU-CHS), adopted operating and investment policies at its recent board meeting. The policies establish guidelines to ensure mission alignment, financial stewardship, and sound governance. The adoption of the policies underscores the Foundation’s desire to support research to find a cure for opioid addiction and reverse the damage inflicted on the brain by decades of overuse of drugs as a treatment for pain.
“One of the most important responsibilities of the Board of Trustees is oversight of the endowment established from the historic settlement with Purdue Pharma. Trustees’ actions put into place a straightforward and transparent operational and investment approach for NCAST. The investment policy makes sure we remain true to our mission to end addiction and find a non-addictive approach for safely managing chronic pain,” commented Dr. Kayse Shrum, NCAST chair and president of Oklahoma State University (OSU).
The Board also created an Investment Committee to ensure direct oversight and management of the funds consistent with the investment policy and research objectives.
Established with $177.5 million from the State of Oklahoma’s settlement with Purdue Pharma, the endowment provides funds to the National Center for Wellness and Recovery (NCWR) at OSU-CHS Center to support research by scientists, physicians, and educators across the nation. The endowment is the central source of reliable funds to sustain initiatives for NCWR for years to come.
“In addition to the carefully considered operating and investment policies, the board also adopted a diversity and inclusion statement,” commented Jim Hess, Ed.D., NCWR interim chief executive officer. “The Trustees view a culture of inclusion essential to our mission. Let’s face it; opioid addiction is an equal opportunity problem that impacts all ethnicities and social-economic groups. To that end, the Trustees are committed to discarding stereotypes, embracing inclusion, and practicing empathy in every aspect of our work.”
“The adoption of the operating and investment policies underscores the extraordinary opportunities to unite scientists, physicians, researchers, and educators from across the country behind a singular purpose to eradicate the nightmarish opioid crisis, which has ravaged communities everywhere,” Dr. Shrum said. “With a sound governance framework, we can begin considering how to apply resources to fulfill our goal of creating a place where people can come together to prevent, treat and eradicate this disease.”
The National Center for Wellness & Recovery at Oklahoma State University Center for Health Sciences is a multidisciplinary team of scientists, physicians, researchers and educators working to end addiction. The NCWR team is developing answers for chronic pain and substance use disorders while safeguarding future generations from addiction through research and medical education and community advocacy. With innovative patient care methods and community advocacy, the center is improving healthcare access to all Oklahomans and delivering hope to those suffering. Learn more at www.NCWRecovery.org
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