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Post by aggierattler on May 21, 2018 17:23:56 GMT -5
Most recent tax documents show B-CU losing millionsThe details in B-CU’s most recent tax returns provide a window of the private school’s finances in the year leading up to President Edison O. Jackson’s abrupt retirement in August 2017.
By T. S. Jarmusz / tony.jarmusz@news-jrnl.com Posted May 20, 2018 at 6:22 PM Updated May 20, 2018 at 6:34 PM
Between July 2016 and June 2017, under the leadership of former president Edison O. Jackson, Bethune-Cookman University outspent its revenues by nearly $10 million, tax records show. Though the university’s losses averaged more than $810,000.
For his efforts, B-CU’s board of trustees gave Jackson a raise.
Within the year, the university would sue Jackson over allegations of fraud, bribery and corruption.
The details in B-CU’s most recent tax returns provide a window of the private school’s finances in the year leading up to Jackson’s abrupt retirement in August 2017. While B-CU was recovering from a more than $18 million loss the prior year, it continued hiring people, depleting its endowment and paying millions in interest on what will amount to a $306 million dorm project, the new records show...
LINK: www.news-journalonline.com/news/20180520/most-recent-tax-documents-show-b-cu-losing-millions
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Post by AggiePride on May 22, 2018 7:48:15 GMT -5
SMH.
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aggielaw
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Post by aggielaw on May 22, 2018 9:55:54 GMT -5
The next Morris Brown??
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Post by aggierattler on May 22, 2018 10:06:10 GMT -5
I pray that they are not headed for that fate. But at least Morris Brown is still open. They had their 8th consecutive graduation last weekend.
The saddest case is Knoxville College. We actually lived on their campus for two years when my father worked there back in the '60s when it was thriving and well-kept. Just saw a story on the present state of their campus on yesterday...
Abandoned Knoxville College: www.michaelcwellsphotography.com/2018/02/abandoned-knoxville-college.html?m=1
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Maxell
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Post by Maxell on May 22, 2018 14:33:25 GMT -5
I pray that they are not headed for that fate. But at least Morris Brown is still open. They had their 8th consecutive graduation last weekend.
The saddest case is Knoxville College. We actually lived on their campus for two years when my father worked there back in the '60s when it was thriving and well-kept. Just saw a story on the present state of their campus on yesterday...
Abandoned Knoxville College: www.michaelcwellsphotography.com/2018/02/abandoned-knoxville-college.html?m=1
Wow!
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