Most people probably don’t know that Stanford’s legal name is “The Board of Trustees of the Leland Stanford Junior University” doing business as Stanford University. And most people probably don’t realize that Stanford’s revenue exceeds expenses by more than a billion dollars a year (for the last several years) which has allowed the university to grow their endowment. With $31.7 billion in net fund assets, Stanford is one of the wealthiest universities in the US along with being what some would refer to as a money-making machine. Read more
2017 was a great year for Columbia University (Columbia) and many of its employees. Total revenue reached $5.7 billion while expenses totaled $4.5 billion (not including depreciation) which contributed to the endowment increasing from $13.2 billion to $14.7 billion at year-end, of which only $3.4 billion is permanently restricted.
In terms of compensation, 34,811 employees were compensated $2.8 billion, which equates to an average compensation of $81,000. The 17 most highly compensated individuals (listed below) received $40 million which equates to an average compensation package of $2.4 million each: Read more
People often joke about the low compensation in academia but many individuals working for non-profit educational institutions (i.e. colleges and universities) receive very high compensation packages. Although the most highly compensated tend to be investment managers for the endowment, presidents, provosts, department chairs, professors, and fundraisers, the overall average compensation package is often nothing to make light of.
At Columbia University (Columbia) – a private, Ivy-League educational and research university on the Upper West Side in New York City (although there are six campuses, five in New York and one in Paris), 34,437 employees were compensated $2.6 billion (or an average of $76,000 each) in the school year beginning July 1, 2015 and ending June 30, 2016. 4,928 individuals received more than $100,000 in total compensation. Read more
The University of Pennsylvania (Penn) is a private research university in Philadelphia that is also a member of the Ivy League. With more than $12 billion in the school’s endowment, Penn also includes a hospital, five outpatient facilities, an in-patient rehabilitation center, and 10 research facilities.
The IRS Form 990 (2015) covering the year beginning July 1, 2015 and ending June 30, 2016 reports the following key information about Penn: Read more
Vanderbilt University is one of the top private universities in the South and in the USA. At nearly $70,000 a year for tuition, room, and board, Vanderbilt’s fees are right in line with other top private colleges and, yet people still wonder why a 4-year education at Vanderbilt costs nearly $300,000?
The answer: tuition dollars are supporting a huge education machine where, in the case of Vanderbilt, nearly half of the total expenses ($640 million out of $1.4 billion in expenses, not including depreciation) are compensation-related costs for the 37,165 employees in 2016 (an average of $17,000 per employee – compare this to $75,000 at Yale, $68,000 at Penn and $64,000 at Princeton) although the prior year, it is interesting to note, $2.3 billion was used to compensate 36,272 individuals, which equates to an average of $64,000 – more in line with the industry averages above. The IRS Form 990 offers no explanation explaining this discrepancy. Read more
The Wall Street Journal (WSJ) recently published an article entitled “Student-Loan Debtors Get Help From Judges” which reported that judges are now using “tools at their disposal” to reduce or cancel student loan debt after years of holding debtors responsible for the money they borrowed and promised to pay back.
One of these tools is asking lawyers who represent borrowers to provide their services for free. Yes, free. Students (legal adults) can borrow money to attend college, promise to pay it back, default on the loans, and the judiciary thinks its ok to ask a third-party (lawyers) to work for free. Is there anything more absurd? Read more
Wake Forest University (Wake Forest) is not a part of the Ivy League (8 private universities in the northeast) but if rank is ever determined by executive compensation, then Wake Forest would be right up there.
In 2016, Wake Forest reported employing 5,838 individuals for the roughly 8,000 students (5,000 undergraduate and 3,000 graduate) at a total compensation cost of $232 million, which equates to an average compensation of $56,000 (compared to $58,000 at Harvard and $75,000 at Yale). However, 431 individuals received more than $100,000 in compensation, including the 15 most highly compensated individuals listed below: Read more
Why don’t physicians offer the plant-based nutrition option to their patients?
1. They are not taught nutrition and are unfamiliar with the efficacy of a plant-based approach.
2. They don’t have time for patient nutritional counseling.
3. They often lack the skill set for behavioral modification.
4. Insurance support for counseling is sparse.
5. The status quo offers a handsome income stream.
~Dr. Caldwell Esselstyn, MD
Finding “good” nutritional information is difficult primarily because cultural, educational, economic, political, pharmaceutical, medical and food industry influences get in the way of consumers finding this valuable information. Read more
We don’t see meat eating as we do vegetarianism – as a choice, based on a set of assumptions about animals, our world, and ourselves. Rather, we see it as a given, the “natural” thing to do, the way things have always been and the way things will always be. We eat animals without thinking about what we are doing and why, because the belief system that underlies this behavior is invisible. This invisible belief system is what I call carnism. ~Melanie Joy
Doctors…..cannot be expected to properly treat patients or guide the prevention of cardiovascular disease, obesity, cancer, diabetes, and metabolic syndrome if they are not trained to identify and modify the contributing lifestyle factors. ~Kathaleen Briggs Early, Kelly M Adams, and Martin Kohlmeier
Recently, my friend (a doctor) told me her son graduated from University of Virginia’s medical school and had no more than a few hours of nutrition education throughout the four-year program. Although I heard that medical students are rarely required to take a course on nutrition, I didn’t know the specifics which led me to do some research which revealed the following information: Read more