institutionalfinance

Couple Sued for Failing to Keep Pledge to Donate $5M

The Kansas City Art Institute is suing Larry and Kristina Dodge, for whom the art college named a building, because they haven't made good on a $5 million pledge to pay for the project, The Kansas City Star reported. The institute says that it has a valid legal agreement with the Dodges, and that it made the decision to go ahead with the building based on that pact. The Dodges say that they are struggling financially in the wake of the economic downturn and can't afford to give the money. Kristina Dodge told the Star that the art institute is "completely ruthless and heartless."


Read more here: http://www.kansascity.com/2012/11/25/3933325/art-institute-sues-over-donations.html#storylink=cpy

Saint Augustine's May Take Over Saint Paul's

Saint Augustine's University, in North Carolina, is in talks with Saint Paul's College, in Virginia, to acquire the institution, The News & Observer reported. Both institutions are historically black and were founded by the Episcopal Church. Saint Paul's lost its accreditation in June, setting off concerns about the viability of the institution without its students being eligible for federal aid. (Accreditation has been restored by a court injunction.) If Saint Paul's became a part of Saint Augustine's, the former could operate under the accreditation of the latter.

 

Cal State Wants New Fees to Encourage Graduation

The California State University System is proposing a series of new fees designed to encourage students to graduate on time so that more space is available for other students, The Los Angeles Times reported. The proposal would add fees for "super seniors, those who have already earned 160 semester unit credits; for students who want to repeat a course; and for students who enroll in 18 credits or more in a semester.

 

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Mount Holyoke holds tuition level for second consecutive year

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Mount Holyoke sticks with tuition freeze for a second consecutive year, reflecting growing concern about the price of college.

Voters Back Tax to Support New Medical School for UT-Austin

Voters in the Austin, Texas, metropolitan area supported a tax increase proposal on ballots Tuesday that will provide revenue to support a new medical school at the University of Texas at Austin, a longtime ambition for the flagship university that it has struggled to support financially.

The new tax is the final piece of the funding puzzle administrators said they needed secured before they moved ahead on the school. University administrators said Tuesday that they would appoint a committee to choose a dean, select a location for the school, and finalize partnerships. They said they hope to have a medical school and teaching hospital in place for a first class of 50 students by 2015.

Berkeley Completes Campaign to Endow 100 Chairs

The University of California at Berkeley announced Tuesday that it has created 100 endowed chairs by matching a $113 million grant from the William and Flora Hewlett Foundation. The grant was made amid concern that Berkeley risked losing star faculty members to private institutions in an era when the state could not be counted on to support faculty salaries. By endowing the chairs, the university hopes to hold on to and attract top faculty talent, which in turn is expected to attract top graduate students.

 

Layoffs at Judson U.

Judson University, facing a deficit of $165,000, has laid off 21 staff members and announced that it will not renew the contracts of 11 faculty members, The Daily Herald reported. Officials of the Elgin, Ill., university said that there were not causes for serious concern, but that the employee total had perhaps grown too rapidly in recent years.

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City College of San Francisco Begins Downsizing

City College of San Francisco's governing board early Friday approved changes to its leadership structure, the San Francisco Chronicle reported. The college, which is facing dire accreditation and budget woes, will require that dozens of academic department chairs go back to the classroom and relinquish their administrative duties. The move, which will save an estimated $2 million, was part of the first stage of a broad downsizing. Trustees also approved cuts to college-operated child-care centers.

Early endowment results show college investments lost value

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Preliminary data from annual survey of college endowments show that institutions averaged a small loss in investment wealth, with institutions of all size seeing minimal returns.

U. of California Ordered to Disclose Venture Fund Returns

A state judge on Tuesday issued a tentative ruling ordering the University of California System to obtain and release data on the performance of specific venture funds in which it has investments, Reuters reported. The university has maintained that the information isn't covered by open records laws because it receives investment performance in aggregate, not fund by fund. But the judge ruled that the university must make a "good faith" effort to obtain the information, and then to release it.

 

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