Over the last few years, the fees paid out to Penn State's Investment Advisers have increased from approximately $11 Million per year, to nearly $75 Million per year. These fees are approved by the PSU Board of Trustees every year.... without comment, question, or opposition. That INCREASE of $64 Million per year would fund over … Continue reading The Penn State Endowment…. Who’s Getting Rich?
With the impact of COVID-19 on Intercollegiate Athletics, the Penn State Board of Trustees approved adjustments to the Penn State Intercollegiate Athletics' operating budget. These projections, known as pro-formas, are compiled for very important reasons. Any business, including Penn State Intercollegiate Athletics (PSU ICA), relies on forecasts of Revenues and Expenses in order to appropriately … Continue reading The Curious Case of Sandy Barbour: Penn State Athletics’ Response to Impending Revenue Shortfall
At their July 2020 meetings, the leadership of the PSU Board of Trustees is moving forward with plans that will lead to the elimination of the last vestige of Board accountability - eliminating the right of Penn State Alumni to openly elect 9 members to the Board. These are the only positions - on the … Continue reading What should our Trustees be doing to combat the Scoundrels – Right Now.
Funds that could have endowed 2,000 full scholarships for PSU students. 2,000 Full Scholarships for PSU students, each and every year, forever. All thrown away - for absolutely no benefit. Recent Letter to the Editor in the CENTRE DAILY TIMES: As the individuals responsible for oversight of the Penn State endowment, Penn State’s trustees have … Continue reading The Real Costs of Fiduciary Negligence
As the NCAA cancelled spring sports across the Country, due to the Corona Virus concerns, there have been many discussions regarding the potential financial impact to University Athletic Department budgets. Among the topics discussed has been whether or not it may make sense to reduce the number of sports offered - particularly those sports that … Continue reading What would be the Financial Impact of Penn State “Cutting” some Sports?
The Chronicle of Higher Education recently (June of 2019) published a listing to tabulate which Universities charged more (or less) in tuition than what they spent educating students. Essentially, the Chronicle looked at: "Do Universities use their tuition revenue to educate students, or do they use it to pay for administration and other non-educational purposes" … Continue reading Chronicle of Higher Education: “Where Does Tuition Money Go?”
Earlier - we discussed the bewildering increases to the fees paid to "Investment Managers" of the Penn State Endowment: https://barryfenchak4trustee.wordpress.com/?p=710 This BLOG will take a deeper dive into making sure we all know how the "Penn State Endowment" is constructed. And we will unravel some of the more disconcerting aspects of the Endowment and its … Continue reading A Deeper look at the Penn State Endowment
By now, I believe we are all familiar with Eric Barron's record of incompetence and self-interest - and his detrimental impact on the Pennsylvania State University: But just how did Eric Barron happen to land in the seat of Penn State President? Let's take a look back: In late 2013, when Rodney Erickson's tenure was … Continue reading Why is Eric Barron PSU’s President?
What does a Penn State Bachelor's Degree really cost? As most students (and their parents) are aware, there is a lot of obfuscation with regard to the actual cost to finance a college education. While all Universities clearly publish their "sticker price" rates for tuition, that really is just the starting point: 1) Many … Continue reading Financial Cost of a College Degree: Penn State and the Big Ten
We start this blog with a quiz: Can you identify which of these pictures shows Swine engaged in a porcine Feeding Frenzy? Sorry. It was, of course, a trick question. The correct answer is "Both". Five Penn State Board of Trustees members joined in a conference call on Wednesday, June 19, 2019 and … Continue reading More $$$$ for Penn State Administrators