2 Billion Bucks + the NU Foundation Awards its Own (100 or so) $22 Million in Salary, Benefits & Yet, 50,000 Students Split a Mere $18 Million

November 17, 2012

Uncategorized

WASHINGTON, D.C. by Ivy Harper

The University of Nebraska Foundation’s latest joke of an “Annual Report” is out and get this, they had a negative return in 2012.

Their rationale/excuse is pure b.s. but who dares to challenge them.

Nebraska’s Powers-that-Be are either in the tank with the NU Foundation folks or they’re afraid of them. And that, my Friends, is a lose-lose for Cornhuskers.

See, the University of Nebraska should not be a version of Versailles but a lean operation whose focus should remain, laser-like, on the students and faculty who comprise NU and for whom the original Foundation was established.

But their latest numbers speak volumes about just how thoroughly the NU Foundation has lost its way.

From what I’ve gleaned – although as usual, the Foundation persists in Vatican-like secrecy – the Foundation has between 100 and 150 employees, and many of those are not highly-paid.

Then, there’s the handful at the top. Their salaries – which should be akin to old-school Public Servant salaries – are equal to anyone on Wall Street save a select coterie of titans.

How long will fair-minded Nebraskans allow this to continue?

for the fiscal year ended June 30, 2012  2012 2011 2010

Gifts, bequests and life insurance proceeds ….$164,964,650  ….$172,115,292 ……$136,894,135

Investment income ………………………………………..31.156,724  ……. 30,041,296  ……..34,937,427

Change in value of split-interest agreements ………1,629,417  ………… 235,746  ……                   –

Realized gain (loss) on investments ………………..22,029,822  …….48,958,540  ……(17,325,665)

Unrealized gain (loss) on investments ………….. (24,540,244)  …..120,659,367  ……..82,931,731

Total …………………………………………………………. $195,240,369  ….$372,010,241  …. $237,437,628

Student assistance ……………………………………….$17,960,134  …..$23,570,447  ……$18,025,440

Faculty assistance …………………………………………..4,644,717  ………5,069,350  ……….4,906,604

Research ………………………………………………………..7,297,710  ……….7,124,968  ……….6,094,543

Academic programs ………………………………………38,410,337  ……..30,355,133  ……..30,290,536

Museum, libraries and fine arts ……………………….. 3,061,617  ……….5,100,131  ……….1,026,656

Campus and building improvements …………………51,348,147  ……..57,877,208  ……..45,848,249

Alumni associations …………………………………………..978,000  ………1,028,000  ……….1,028,000

Deferred compensation ……………………………………….16,667  …………..33,750  ……………35,000

Total benefits transferred ……………………………. $123,717,329  ….$130,158,987  …..$107,255,028

Management and fundraising …………………………..21,865,110  …..$20,853,993  ……$19,248,357

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