Only 3.4 million dollars spent on books was well spent. 96.4 million dollars were wasted.
Posted on 12/06/2020 2:55:51 PM PST by Kid Shelleen
Two weeks after the University of Pennsylvania made a $100 million contribution to the School District of Philadelphia, it’s unlikely the cash infusion will inspire copycat donations from major higher education peers in the city.
When the Ivy League school made its announcement, City Councilmember Helen Gym and others voiced hope that other universities with large landholdings, like Temple or Drexel, might also pony up.
“I certainly hope that some of our strongest civic institutions can see beyond their individual acts of charity and generosity,” she wrote in a statement. “When universities and our major nonprofits, who have long been invested in education and public health, unite on a mission to invest in our schools, we send a clear message to Harrisburg and to Washington, D.C. that we are invested in our future.”
(Excerpt) Read more at whyy.org ...
100 million dollars laying around but they won’t lower tuition.
Which brings up an all important (and so far unanswered) question: Which benefits society more - donating tons of money to publik skoolz or flushing that same money down the toilet?
Mark Zuckerberg gave $100 million to Newark, New Jersey schools. Has that donation made any difference to that troubled school system?
R U Kidding?
It's GONE.
Verschwinden!
ML/NJ
“$100 million contribution to the School District of Philadelphia”
Pay raises for administrators?
Charging kids what they do these days, this university thought
it a great idea to reveal that $100 million is just pocket
change for them.
The other universities evidently have more common sense.
$100,000,000 pissed away.
Idiots.
I doubt if Temple or Drexel or Villanova (to name three examples) have anywhere near the endowment that Penn does. I heard a number of $40 billion quoted for Harvard's this week. Now Penn is not Harvard but it is still an Ivy, so.... Further, money put into the Philly school district without some reforms made is simply money thrown away.
R U Kidding?
It's GONE.
Verschwinden!
Oh I'm sure some administrators benefited greatly from it.
Zuckerberg wasn't personally involved with the foundation's efforts, and according to Baraka, the group did not spend the Facebook founder's donation wisely. He wishes the foundation would have engaged more with local community members to find solutions specific to Newark.The money "didn't go to the city, and it didn't go to the school system either. It went to a foundation that made decisions about what the money should be spent on," he said at a Wall Street Journal conference on Wednesday. "You can't just cobble up a bunch of money and drop it in the middle of the street and say, 'This is going to fix everything.' You have to engage with communities that already exist ... To parachute folks in, it becomes problematic."
In a follow-up interview with Business Insider, Baraka explained that he wished the foundation had worked with local groups like the SPAN Parent Advocacy Network, the Newark Teachers Union, and the Newark chapter of the NAACP — which have all focused on local education issues for many years.
The foundation may have acted without fully understanding local issues, so it was hard for them to devise good solutions, he said.
That’s why any student loan “forgiveness” should come out of the endowments of the universities that made the loans.
If they go bankrupt, it’s a win-win.
These other institutions don’t have nearly as large of an endowment. Also, why the hell are they giving to the school system. Money totally wasted. I am guessing the Penn board is just raiding the endowment to help their sisters in the teachers union. Kids won’t notice a difference.
Only 3.4 million dollars spent on books was well spent. 96.4 million dollars were wasted.
lol
The paid Joe Biden just under one million dollars from 2016-2018 and do this day no one knows what he did.
What a waste of money! 100 million to government schools?
3.4%.
Probably a percentage quite close to that expended by the Bill, Hillary, and Chelsea Clinton foundation on legitimate charitable causes.
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