By now, most Americans are aware of the widespread waste and decadence at many private and public universities. From lazy rivers to exorbitant chancellors’ salaries, examples abound. But those well-publicized cases, problematic as they are, can be easily addressed by parents and students who pay tuition and by legislators who control the purse strings. However, … Continue reading “University Foundations Enable Waste, Fraud, and Abuse”
University foundations are at the forefront of schools’ fundraising, event planning, and publicity efforts. But the details of how these foundations operate—such as where they get their money and what it pays for—often are hidden from public view. Many foundations are allowed to take advantage of their private non-profit status despite being considerably entangled with … Continue reading “How to Make University Foundations More Transparent”
The UNC System is flush with foundations that raise money for their associated universities, and researchers who have looked at these types of organizations on a national level have called them “slush funds” and “shadow corporations” that too often operate in secrecy, despite spending taxpayers’ money. The unusual practice in North Carolina in which foundations buy property, then lease space back to their universities, has raised eyebrows among some of those experts.