Foundation and College Fight Over Assets

January 25, 2010

The foundation of the City College of San Francisco is trying to gain control of its $19 million in assets, which have been managed directly by the college, The San Francisco Chronicle reported. Foundation officials say that they still want to support the college's students and programs, but they say they need clear independence to maintain credibility in the wake of charges against the former chancellor of the college and two other senior officials that they diverted college funds illegally to political campaigns that benefited the college.

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