On Mon, May 18, 2009 at 2:24 PM, Carl Dassbach <[email protected]> wrote:
> I haven't set about to collect data so much is anecdotal. In my university,
> the administration has gown over 300% in the last 10 years while the faculty
> has grown maybe 20%. The number of vice-prezs has increased from 3 to 7,
> all extremely well paid and our president's salary is among the highest 10%
> of salaries for university presidents in the country. Most of our building
> are 60/70s institutional red brick but the 2 newest building are roofed or
> sheathed in copper with granite, marble or slate facades. The new buildings
> have wood and tile, the old ones have linoleum floors (but the University is
> gradually upgrading them.)
Some interesting things from my (former) school's 2006 "990" form:
*Prez making $1.7M, VP finance making 650K, 7 other VPs making 200K to 350K
*paid $850K+ to Nixon Peabody to break up a union drive
*several other contractors in the mid-six-figure range
*$500K on lobbying
*5 highest-paid non-administrators making $200K+ (3 profs, 2 deans)
But that's what's obvious from reading the form. What I wonder is
what else is going on! For example, a large piece of real estate was
recently sold to a company affiliated with several trustees, which
they then developed into overpriced student housing and shops. How
much money was made on that deal? Who benefited? What similar deals
are going on?
I have a feeling that this school's money is managed like a senate
campaign's: everyone's spouses, uncles, children, etc. are all
probably taking 6-figure salaries for doing nothing, the endowment is
probably used to buy stock in the trustees' businesses, contractors
paid inflated rates if they're run by the right people, real estate
and other things of value bought up to give away, etc, etc. This last
paragraph is of course just my suspicions, but it really looks like
money is being skimmed off the top at every opportunity!
And to finance it all: hire only adjuncts and raise tuition 7% per
year. Where IS it all going?
Mike
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