“Penn State raises goal and sights for “Greater Penn State” campaign”

[BobPSU92]

See the link below. From the article:

“University Park, Pa. — In recognition of the fundraising campaign’s record-breaking appeal among Penn State supporters, the University’s Board of Trustees has endorsed a one-year extension of “A Greater Penn State for 21st Century Excellence.” The effort, which began on July 1, 2016, is now slated to conclude on June 30, 2022, and its overall goal has been raised from $1.6 billion to $2.1 billion.

“We are deeply grateful to the more than 435,000 alumni and friends who have given their generous and enthusiastic support to the campaign’s vision of Penn State as a leader in public higher education,” said President Eric J. Barron. “By extending the campaign and raising our goal, we are also extending our impact and raising our sights for the role that the University can play in the lives of our students and in the prosperity and security of the Commonwealth and the world.””

https://news.psu.edu/story/598473/2...ate-raises-goal-and-sights-“greater-penn-state”

Give early, often, and in large sums.

 

[interrobang]

Raise all that money and still bitch to Harrisburg that they need a few more dollars in appropriations to keep tuition from rising

 

[anon_xdc8rmuek44eq]

What’s sad is Harvard raised $1.4bn last year alone.

 

[mn78psu83]

See the link below. From the article:

“University Park, Pa. — In recognition of the fundraising campaign’s record-breaking appeal among Penn State supporters, the University’s Board of Trustees has endorsed a one-year extension of “A Greater Penn State for 21st Century Excellence.” The effort, which began on July 1, 2016, is now slated to conclude on June 30, 2022, and its overall goal has been raised from $1.6 billion to $2.1 billion.

“We are deeply grateful to the more than 435,000 alumni and friends who have given their generous and enthusiastic support to the campaign’s vision of Penn State as a leader in public higher education,” said President Eric J. Barron. “By extending the campaign and raising our goal, we are also extending our impact and raising our sights for the role that the University can play in the lives of our students and in the prosperity and security of the Commonwealth and the world.””

https://news.psu.edu/story/598473/2...ate-raises-goal-and-sights-“greater-penn-state”

Give early, often, and in large sums.

Bob, why don't you start a BWI McAndrew Board Matching Gift Program?

 

[BobPSU92]

What’s sad is Harvard raised $1.4bn last year alone.

Imagine the major-league corruption they must have. We can only dream of such corruption at Penn State.

 

[BobPSU92]

Bob, why don't you start a BWI McAndrew Board Matching Gift Program?

Tom will match all of our gifts? I’ll let BARRY. start.

 

[mn78psu83]

Tom will match all of our gifts? I’ll let BARRY. start.

Too bad Cruising isn't here any more. He'd go all rooster on us while crowing about his substantial contribution.

 

[Ian]

See the link below. From the article:

“University Park, Pa. — In recognition of the fundraising campaign’s record-breaking appeal among Penn State supporters, the University’s Board of Trustees has endorsed a one-year extension of “A Greater Penn State for 21st Century Excellence.” The effort, which began on July 1, 2016, is now slated to conclude on June 30, 2022, and its overall goal has been raised from $1.6 billion to $2.1 billion.

“We are deeply grateful to the more than 435,000 alumni and friends who have given their generous and enthusiastic support to the campaign’s vision of Penn State as a leader in public higher education,” said President Eric J. Barron. “By extending the campaign and raising our goal, we are also extending our impact and raising our sights for the role that the University can play in the lives of our students and in the prosperity and security of the Commonwealth and the world.””

https://news.psu.edu/story/598473/2...ate-raises-goal-and-sights-“greater-penn-state”

Give early, often, and in large sums.

Barron and the BOT are crooks.... give me, give me, give me. Worse than the Fed. So easy to fleece PSU and these clowns are doing it!

 

[Alphalion75]

What’s sad is Harvard raised $1.4bn last year alone.

Harvard grads make more $$$$$.

 

[91Joe95]

Bob, why don't you start a BWI McAndrew Board Matching Gift Program?

Actually anyone can make any size donation, not give them the money, and they will still count it.

 

[BobPSU92]

Actually anyone can make any size donation, not give them the money, and they will still count it.

The donations were unanimous.

 

[PeetzPoolBoy]

Too bad Cruising isn't here any more. He'd go all rooster on us while crowing about his substantial contribution.

Perhaps window air conditioners aren't selling for as much on eBay as they once did, copper piping included?

 

[dwiz]

What’s sad is Harvard raised $1.4bn last year alone.

The Kushner family alone gave 2.5 Million to get their dolt into the school. I imagine there is a lot of that going on.

 

[Evan Ceg]

Actually anyone can make any size donation, not give them the money, and they will still count it.

It's called a pledge. FASB rules require that the entire pledge be counted in the year in which the pledge is made. Typically, about 2% of pledge value ends up being written off.

 

[91Joe95]

It's called a pledge. FASB rules require that the entire pledge be counted in the year in which the pledge is made. Typically, about 2% of pledge value ends up being written off.

This post brought to you on behalf of the same university that counted loans as revenue.

 

[Art]

It's called a pledge. FASB rules require that the entire pledge be counted in the year in which the pledge is made. Typically, about 2% of pledge value ends up being written off.

Ah, yes, the FASB, which has proven itself to be infallible over time. FASB rules govern what is presented in financial statements, not in press releases. And PSU does follow FASB guidelines. So it discloses write-offs in its financials that it does not disclose in press releases. As you suggest, they are about 2% or less, so not particularly meaningful. PSU, in its financials, also discounts to NPV that value of future pledges to be received. This comes to about 20%. But I guess in the world of strategic communications, a dollar received in five years is the same as a dollar received today.

 

[anon_xdc8rmuek44eq]

The Kushner family alone gave 2.5 Million to get their dolt into the school. I imagine there is a lot of that going on.

That's it? Wow.

 

[Art]

That's it? Wow.

They got younger son, Josh, in as a bonus, though indications are that he might have been admitted on his own merits. But with an admittance rate of below 5%, every little bit helps,

 

[ralphster]

Actually anyone can make any size donation, not give them the money, and they will still count it.

I pledge ONE MILLION DOLLARS!

No, no, I mean, ONE BILLION DOLLARS!

 

[BobPSU92]

 

[Art]

Actually anyone can make any size donation, not give them the money, and they will still count it.

In the good old days, institutions were required by the FASB to receive pledges in writing before they could count them. Institutions, of course, didn't like that, so the accounting firms, not wishing to anger their clients and jeopardize their audit fees, changed the requirement to allow oral pledges to count.

 

[BobPSU92]

In the good old days, institutions were required by the FASB to receive pledges in writing before they could count them. Institutions, of course, didn't like that, so the accounting firms, not wishing to anger their clients and jeopardize their audit fees, changed the requirement to allow oral pledges to count.

Oral pledges?

 

[Art]

Oral pledges?

That's the term used. "Verbal" may have been more judicious. But you know accountants, anything for a little excitement.

 

[BobPSU92]

That's the term used. "Verbal" may have been more judicious. But you know accountants, anything for a little excitement.

I’ve heard about “back room negotiations”, but I had never thought much of it.