INDIANA, Pa. — Rich Caruso, a native of Kane and an Indiana University of Pennsylvania alumnus, has been appointed to complete an unexpired term on the Pennsylvania’s State System of Higher Education Board of Governors Board.
Caruso, a 1983 accounting graduate of IUP, was named to a seat on the board that was vacated. That term will end Dec. 31, 2026.
Additionally, Abigail Hancox of Albion, a dual master’s degree student in IUP’s Student Affairs in Higher Education and Public Affairs, was appointed to the Board of Governors during its October meeting. IUP Council of Trustees chairman Sam Smith was reappointed to a new term, extending through December 2029. Board of Governors members are appointed to serve four-year terms. Both Caruso and Smith can be reappointed to additional terms. Student members are appointed by the BOG itself and serve until they graduate.
The 20-member Board of Governors is responsible for planning and coordinating development and operation of Pennsylvania’s State System of Higher Education, which includes IUP and the nine other state universities in Pennsylvania. It meets at least four times a year.
The board establishes broad educational, fiscal and personnel policies, and oversees the efficient management of the State System. Among other tasks, the board appoints the chancellor and university presidents, approves new academic programs, sets tuition and coordinates and approves the annual State System operating budget.
Caruso, originally from Kane and now living in Meadow Lands, is a long-time supporter of IUP. A 2023 Distinguished Alumni Award recipient, he has been a member of the Foundation for IUP Board of Directors since 2007, serving as president of the board from 2015 to 2019.
During that time, he helped spearhead IUP’s $245-million Residential Revival that led to the replacement of the university’s student housing with modern suites. He also chaired the Audit, Investment, and Nominating committees of the FIUP Board. He was a member of the National Campaign Cabinet for IUP’s Imagine Unlimited comprehensive fundraising campaign, which concluded in 2021, and he is a member of the current university strategic priorities cabinet.
Before creating his own consulting firm, Caruso spent parts of four decades first as a certified public accountant, and later as an executive for several companies, including positions as the chief financial officer at Ravenswood Aluminum Corp., Ormet Corp., July Products, and RG Steel; CEO at Neenah Foundry; and COO at Winner Steel. Recently, he was named to the board of directors for VPX Pharmaceutical and also serves on the board of directors at School Specialty, JWA Aluminum, and H-D Advanced Manufacturing, as well as several nonprofit boards. In addition to his service to IUP, he has served on several nonprofit boards, including the National Aviary and Baptist Homes.
In 2023, he gifted $1 million to IUP to advance IUP’s establishment of its proposed college of osteopathic medicine.
This gift follows the establishment of the Richard F. and Margaret C. Caruso Scholarship at IUP, which provides scholarship support to freshmen students who are graduates of Kane High School, Chartiers-Houston High School, Canon-McMillan High School, or Peters Township High School.
