BJU Board of Trustees announces changes

Who “owns” Bob Jones University? Typically a board is elected to represent the owners and to provide direction and oversight to the operational leaders of the organization as well as to protect the interests of the owners. In the corporate world, boards typically represent the shareholders, even private companies typically have shareholders (most are typically focused in a single owner or family of owners, or a private equity firm(s)). I have always wondered what the ownership structure was of Bob Jones and who the board of directors represent.