Yale University Corporation and Prudential Committee minutes

"An Act for Liberty to Erect a Collegiate School," passed by the General Assembly of the Colony of Connecticut on October 9, 1701, established the ten founders to stand as "Trustees, Partners or Undertakers" of the school and set out the framework for the role of the Trustees. These ten fellows select their successors and are known as the Successor Fellows. Subsequent acts of the colonial legislature and the state assembly provided for additional responsibilities and duties as well as the makeup of the body. On May 9, 1745, an act passed by the General Court of the colony established that the Trustees become a corporation called The President and Fellows of Yale College. On June 26, 1792, in order to receive substantial financial assistance from the state, "the Governor, the Lieutenant Governor and six senior assistants in the Council of this State" became members of the Corporation "ex officiis." On May 12, 1819, an act substituted the six senior assistants with six senior senators. On July 6, 1871, the General Assembly provided for the election of six graduates as Fellows of Yale College "in the stead of the six senior senators of the state. . ." which was accepted by the Corporation on July 11. These fellows are known as Alumni Fellows and serve one six-year term. They are elected on a staggered basis, two per year. The governor and lieutenant governor continue to serve "ex officiis."

In 1737, Rector Elisha Williams created "a standing committee of trustees to conduct certain college business between the regular annual meetings of the entire board. This committee ultimately became the Prudential Committee, which performs the same function today.

Yale's Charter provides that its governing body, known legally as "The President and Fellows of Yale College" – or, more simply, as "The Corporation" – "shall have the government, care and management of the College... and make such reasonable laws... as they think fit and proper for the instruction and education of the students."

The Corporation comprises 19 members:

Three members ex officiis: the President of the University and the Governor and the Lieutenant Governor of the State of Connecticut.

Ten "Successors to the original Trustees", who elect their own successors. Their terms on the Corporation are limited by their own vote to two six-year terms, except that upon recommendation of the President in special circumstances a Successor Trustee may be elected to an additional term of up to three years. Successor Trustees must retire upon reaching age 70.

Six Alumni Fellows elected by the alumni as provided in the Miscellaneous Regulations.

In addition to the President, the officers of the University are: a Provost, a Vice President and Secretary, a Vice President and General Counsel, a Vice President for Finance and Administration, a Vice President for Development, and a Vice President for New Haven and State Affairs and Campus Development.