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Tuesday, May 10, 2011 - 11:05am

Regents OK New UGA Foundation

Updated: 3 years ago.
The state Board of Regents has approved the merger of two private foundations benefiting the University of Georgia. (photo courtesy visit athens ga via flickr)

The state Board of Regents has approved the merger of two private foundations benefiting the University of Georgia.

The UGA Foundation and the Arch Foundation are joining forces after an ongoing feud led the university to split from its longtime fund-raising arm. UGA cut ties with the UGA Foundation in 2005.

Foundation leaders say they hope to cut costs by eliminating redundancies. They also hope to entice more alumni to donate by ending the ill will between the two camps.

It also comes as UGA prepares for a $1 billion fund-raising campaign.

The new group will be known as the University of Georgia Foundation.