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The governing board for Rutgers University’s Foundation announced Thursday it would drop “overseers” from its name due to the word’s historical association with racial inequities and slavery.

The board has been known as the Board of Overseers since the establishment in 1973 of the foundation, which functions as the fundraising arm of Rutgers, the State University of New Jersey. The board will change its name to the Rutgers University Foundation Board of Directors.

The governing board at Harvard University is also known as the Board of Overseers.