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Post by alum on Jul 17, 2024 14:59:39 GMT -5
pdf.guidestar.org/PDF_Images/2023/042/103/2023-042103558-202421279349301562-9.pdfLots of interesting information. Rougeau $580,000 plus housing and other benefits. Total of $875000 Nelson $350,000 plus benefits for $418,000 Chesney $293,000 plus benefits for $367,000 Outgoing VP Barlok was paid a total of $485,000 for the year. She only worked a few weeks at most. It looks like the College lost $9 million in that fiscal year. Maybe someone who understands how to read financial statements can shed some light on the numbers.
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Post by sader1970 on Jul 17, 2024 15:22:52 GMT -5
Thanks for posting. It confirms what I’ve said for many years, that the basketball coach, even the bad or atrociously bad ones, get paid more than the good and even great football coaches. Our priorities are screwed up IMHO. Yeah, yeah, yeah, we ALWAYS think the basketball coach is going to take us to the promised land.
Sorry, 12-15 players vs 90+ players and 4 +/- assistants vs. double digit assistants. Yeah, I also get 30 games vs. 12-15 games.
OK, discuss. 😂
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Post by Pakachoag Phreek on Jul 18, 2024 12:27:57 GMT -5
pdf.guidestar.org/PDF_Images/2023/042/103/2023-042103558-202421279349301562-9.pdfLots of interesting information. Rougeau $580,000 plus housing and other benefits. Total of $875000 Nelson $350,000 plus benefits for $418,000 Chesney $293,000 plus benefits for $367,000 Outgoing VP Barlok was paid a total of $485,000 for the year. She only worked a few weeks at most. It looks like the College lost $9 million in that fiscal year. Maybe someone who understands how to read financial statements can shed some light on the numbers. investment income is not the same as endowment distribution income.. Holy Cross and every other school do not budget on the basis of investment income. They budget on the basis of the percentage of the endowment that is distributed annually for operations. Thus, one should not factor in net investment income into whether an institution has a net operating gain, or loss. Barlok resigned, effective the end of the fiscal year. The fiscal year ends on June 30th. So she was paid for a full year as Director of Advancement. |
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Post by princetoncrusader on Jul 19, 2024 19:34:37 GMT -5
Over half the endowment is in alternatives. Interesting.
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Post by Chu Chu on Jul 20, 2024 11:24:30 GMT -5
Over half the endowment is in alternatives. Interesting. I don't understand. Can you elaborate? |
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Post by CHC8485 on Jul 20, 2024 15:18:57 GMT -5
Anyone know why we paid EYP (Architect) almost $1.2 million - it could have been the campus master plan but I thought that was done by Sasaki.
Also we paid Diller-Scofidio (architect for the Performing Arts Center) $1.22 million. Did we pay for their services on lay away?? Or did we pay the final balance on opening in Sept 2022?
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Post by Pakachoag Phreek on Jul 21, 2024 8:13:05 GMT -5
Anyone know why we paid EYP (Architect) almost $1.2 million - it could have been the campus master plan but I thought that was done by Sasaki. Also we paid Diller-Scofidio (architect for the Performing Arts Center) $1.22 million. Did we pay for their services on lay away?? Or did we pay the final balance on opening in Sept 2022? I believe EYP was the architect for the townhouses. They were a firm in upstate New York that went bankrupt several years ago, and was acquired by Page (architects). EYP designed the new 500 bed Thomas More student residences at BC, built on the former site of the law school. DS+R was probably the remaining balance due on completion of the Prior. The architects fees for Prior were a lot more than $1.22 million. Also, DS+R had subcontractors, e.g., for acoustics, which would be among the last aspects of the design to be built. |
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Post by mm67 on Jul 21, 2024 9:24:10 GMT -5
How are these contracts awarded? Is there oversight to guard against nepotism? Thinking of checks on the BOT. Realize as a private not-for-profit HC is not subject to the same set of regulations as a government entity.
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Post by mm67 on Jul 21, 2024 9:33:04 GMT -5
How are these contracts awarded? Is there oversight to guard against nepotism? Thinking of checks on the BOT. Realize as a private not-for-profit HC is not subject to the same set of regulations as a government entity.
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Post by Sons of Vaval on Jul 21, 2024 9:34:40 GMT -5
How are these contracts awarded? Is there oversight to guard against nepotism? Thinking of checks on the BOT. Realize as a private not-for-profit HC is not subject to the same set of regulations as a government entity. I'm sure an RFP is issued to multiple companies. |
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Post by mm67 on Jul 21, 2024 11:00:10 GMT -5
I admit I am a simple guy not knowledgeable about these things. Please do me the favor. What is RFP? Thank you in advance.
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Post by breezy on Jul 21, 2024 11:23:27 GMT -5
Request for Proposal.
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Post by mm67 on Jul 21, 2024 12:16:04 GMT -5
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Post by KY Crusader 75 on Jul 21, 2024 12:27:53 GMT -5
Sometimes followed by a DCUWCY if the proposal is weak....
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Post by Pakachoag Phreek on Jul 21, 2024 17:54:21 GMT -5
In the case of the Prior, there was a competition, in which architectural firms were invited to submit concepts of what the building would look like. HC would have first provided information on the site and geotechnical characteristics of the site. HC would also have described the activities, programs, departments that would be housed in the building. It is not unheard of for a lead donor to suggest / recommend firms. In the case of other major projects, I suspect the College would have looked at other buildings on other campuses that an architectural firm had built, and picked one or two firms to have discussions with. That was probably the case with Sasaki and Luth. For smaller projects, e.g., the Joyce Center, the College seems to have turned to local architects with whom they've had past experience. And there are firms that 'specialize' in certain looks. Robert A. M. Stern Associates in New York. See renovation and expansion of the library at Harvard Business School www.ramsa.com/projects/project/baker-library-bloomberg-centerAdmissions Center at Elon www.ramsa.com/projects/project/inman-admissions-welcome-center |
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Post by rgs318 on Jul 21, 2024 18:14:59 GMT -5
Sometimes followed by a DCUWCY if the proposal is weak.... OK, now what is DCUWCY?  |
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Post by mm67 on Jul 21, 2024 19:05:00 GMT -5
Don't Call Us We'll Call You. Who knew? I googled it. We gotta' get more woke.  |
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Post by sader1970 on Jul 21, 2024 20:20:11 GMT -5
I spent time as a Finance Director and was thinking that has my memory or training gone that badly? 😂
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Post by princetoncrusader on Jul 22, 2024 16:55:40 GMT -5
Over half the endowment is in alternatives. Interesting. I don't understand. Can you elaborate? Go to section entitled "Investments--Other Securities" on page 34 (using page counter on top of screen). There you will see: Private Equity--$311.9mm and Hedged (sic?) Funds --$273.0mm. Not clear why the total is only $920mm and not equal to the endowment of $1.025B. |
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Post by Pakachoag Phreek on Jul 23, 2024 10:03:29 GMT -5
I don't understand. Can you elaborate? Go to section entitled "Investments--Other Securities" on page 34 (using page counter on top of screen). There you will see: Private Equity--$311.9mm and Hedged (sic?) Funds --$273.0mm. Not clear why the total is only $920mm and not equal to the endowment of $1.025B. Without looking at the 990 filing, the endowment includes real estate and cash equivalents. Private equity and hedges are $584M of $1,050M in long-term investments. |
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Post by KY Crusader 75 on Jul 23, 2024 12:27:41 GMT -5
Well, it wouldn’t be an endowment discussion if I didn’t chime in with my usual suggestion that we should put all our $$$ in index funds and save the money we are paying out in high salaries and bonuses for the fund managers
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