The University of Connecticut Foundation is bringing on a new president next week, but the outgoing leader who makes close to half a million dollars annually will continue to be paid through next June.
The foundation raises money for UConn's endowment and other things including scholarships and athletic facilities. A capital campaign launched in 2009 has raised about $400 million toward a $600 million goal.
John Martin is being replaced by Joshua Newton, who served in a similar position at Emory University. The foundation will not say how much it will pay Newton.
The foundation is exempt from state Freedom of Information Laws but is required to report salaries of anyone making more than $150,000 to the Internal Revenue Service. The last available statement shows Martin received $484,367 during 2011.