The United Negro College Fund (UNCF) is a non-profit, tax-exempt 501 (c) (3) based in Washington, DC. Established in 1944, UNCF funds scholarships for students and also scholarship funds at 37 private historically black colleges and universities (member institutions).
In 2018-2019 UNCF reported having 255 employees who received $21 million in compensation, which equates to an average compensation of $79,000. 48 employees received more than $100,000 in compensation with the most highly compensated employee being the President and CEO, Michael L Lomax who received $838,291 in compensation. Read more
Oberlin College (Oberlin) is a liberal arts college (College of Arts and Sciences) and music conservatory (Conservatory of Music) with approximately 3,000 students in Oberlin, Ohio (about 40 miles southwest of Cleveland). Established in 1833, Oberlin has graduated Rhodes Scholars (16), Pulitzer Prize Winners (7), MacArthur Fellows (12), Truman Scholars (20), and Nobel Laureates (3).
Tuition, room, and board is nearly $80,000 (with health insurance) annually making a 4-year degree a total cost of $320,000. Oberlin awards about $60 million annually in the form of financial aid. According to the most recent available Form 990 (2016 for the year ending June 30, 2017), 2,710 students received $62 million, which equates to an average financial aid of $23,000. Read more
Recently, a group called “Educators for Justice” (@educatorsforjustice) posted a chart (shown below) entitled “NYPD VS DEPARTMENT OF EDUCATION” on Instagram that calls for supporters to defund the NYPD. Whether or not the public believes it is in the best interest of New York to defund the NYPD, it is in the best interest of the public to know the facts and understand that the message below does not support their argument: Read more
Liberty University was originally established as Lynchburg Baptist College in 1971 but changed its name to Liberty University (Liberty) in 1985, the same year the school was accredited. Described as an evangelical institution of higher education, Liberty has about 15,000 students on campus but more than 90,000 enrolled in on-line classes, making the school one of the largest Christian universities in the country.
Liberty has 17 colleges including a school of medicine (osteopath) and law, along with 20 Division 1 sports. The annual cost of tuition, room, and board for undergraduates is about $35,000, or about $140,000 for a 4-year degree – a relative bargain compared to many private universities whose cost is often $75,000 annually or $300,000 for a 4-year degree. Read more
It’s been said that we don’t change when we see the light, but when we feel the heat.
Those are the words of Dr. Garth Davis, MD – a board-certified surgeon – who specializes in bariatric surgery in Asheville, NC. Prior to moving to Asheville in 2018, Dr. Davis was the medical director of the Davis Clinic at the Methodist Hospital in Houston, Texas. A graduate of University of Texas in Austin, and the Baylor School of Medicine, Dr. Davis completed his surgical residency at the University of Michigan. Read more
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