Wine Cellars, Shooting Clubs, a corrupted $20 Million State Grant, a College President’s $500,000 Compensation Bundle, $600 Million in Construction Projects, amp; a lot more …
Almost every day, the information headlines are howling about the progressively unattainable costs of tuition and the insurmountable costprice of achieving a college degree. Student financial obligations are at crushing levels which influences social movement and drives a much deeper divide between the haves and have not’s.
Do you desire to understandneed to know why college expenses and financial obligations are so overbearing? Colleges have actually ended up being fiefdoms unto themselves- even at the regional neighborhood college level. An exceptional case-in-point is within my own location at the College of DuPage (COD).
Right here’s what we have actually exposed at COD during the last 45 days:
Stopped a political strategy to procure a $20 million state grant
Asking for COD President Robert Breuder’s e-mails during the two week duration prior to the governor’s visit to school for beginning, we exposed a political approach to “shake loose” a $20 million state building grant by bringing support to incumbent Guv Pat Quinn. Mentioning our exposure, the major Chicago dailies editorialized and the scandal operated on the front page. The guv stated the president’s method was “incredibly alarming” and utilized “misrepresentation.” Quinn then suspended “all future capital dollars.”
COD is cash rich with $180 million in the bank. They didn’t require the extra $20 million, however they wanted it- so severely- they risked their stability. Read Dr. Breuder’s e-mail strategy here.
Wine, Upscale French Restaurants, and the Shooting Club
Searching COD’s checkbook, we discovered that the school paid or reimbursed the president for annual subscription dues and costs of a minimum of $27,931 at limit McGraw private shooting club in Dundee, IL (2009-2-2013). COD has actually purchased over $192,000 of wine and wine devices in simply the past three years- and this doesn’t consist of the expense of constructing their wine rack. The wine rack belongs of the school’s high end French dining establishment- which lost $560,000 in its very first year of operation (2012). Losses for 2013 are still unclear.
While the working class students are burdened by limited monetary methods, COD won a 2013 Wine Spectator award after investing hundreds of countless dollars.
Comp of COD President Ranked in TOP 100 College/University Presidents
The complete settlement of Robert Breuder is $469,345. Here’s a fast breakdown: base wagebase pay of $292,000 plus 56 paid personal, vacation, “rest and respite,” and holidays. Breuder receives paid cellular phone, and mostly paid health and life insurance coverage, plus lucrative additional advantages: $72,000 indeferred comp ($360,000 / since 2009); $24,900 into a retirement annuity ($124,500 / considering that 2009); $8,400 of car allowance ($42,000 / considering that 2009); $8,400 of “individual development” allowance ($42,000 / given that 2009). Breuder personally pays nothing into the state university retirement pension. COD pays his contribution totaling up to approximately $24,000 annually.
What part of a community college includes a $500,000 / Top 100 comp bundle for its president?
$600 Million in construction considering that 2009, but registration up simply 5 % in 5 years
COD has driven a $600 million building spending bus with a little recent enrollment spike. 2 weeks earlier, COD Executive Vice President Joseph Collins ($227,064 salary, source openthebooks.com) defended the requirement for an additional $50 million structure by mentioning 5 % enrollment growth over 5 years, “Registration development validates expansion, Daily Herald.” OpenTheBooks.com employee Laura Reigle fact inspected Collins by utilizingby utilizing documents published on the college’s own web site and discovered that official enrollment has actually minimized by almost 6,000 students because 2000. In truth, present registration is still 1,200 students less than in 1995.
Statisticsare typically utilized to bolster weak arguments. We unmasked them.
PropertyReal estate tax Hikes and Student Tuition Spikes
The College is funded by regional propertyreal estate tax and student tuition. In the June board meeting, COD Chief Financial Officer Thomas Glaser ($220,019 salary, source openthebooks.com) admitted that the school hiked the home tax rate by 59 % to ensure that taxes remained to increase although property values declined sharply. Out of 39 institution of higher learnings in Illinois, COD tuition surges exceeded all of them. COD students suffered real pain as 20 % of loans defaulted within the first three years after college graduation.
What’s the Matter with College of DuPage? Plenty. Illinois is a national leader in house repossessions, so taxpayers are “invested.” The students are “spent” with a nationwide average $29,000 student financial obligation at graduation. However real to the old Wall Street maxim, “excess begets excess” and the college executives continue spending.
It’s time that students, taxpayers and the COD trustees stopped them.
Disclosure: Adam Andrzejewski is the creator of OpenTheBooks.com and IL guard dog company, For The Good of Illinois