Few universities have had good news to report about their foundations this fiscal year. Harvard’s took a 22 percent hit and Spelman’s dropped by 20 percent.
By comparison, the FAMU Foundation’s total loss was small. According to data published in March, it slid by about $5M, or 4.2 percent.
By comparison, the FAMU Foundation’s total loss was small. According to data published in March, it slid by about $5M, or 4.2 percent.
The decline comes after a period of rapid growth. In 2006, the endowment's principal expanded by $10M. The following year, it went up $15M.
The FAMU Foundation's ability to weather today's recession is a credit to the strong leadership it has received from chairs such as Col. Brodes Hartley, attorney Daryl Parks, Judge Joseph Hatchett and physician Joseph Webster over recent years.
FAMU Foundation Net Assets
2005: $94M
2006: $104M
2007: $119M
2008: $114M
Source: FAMU IPEDS Reports.
In addition to my monthly Rattler Check donation, I’m going to mail a separate check to the Foundation this week. Come on Rattlers, please support the FAMU Foundation.
ReplyDeleteNot if it goes to things such as a 100K bonus to Ammons during an economic meltdown.
ReplyDeleteIt's ok. Ammons image is now officially destroyed.
ReplyDelete@11:07
ReplyDeletePlus 35 teachers loss their jobs at FAMU DRS but we still can give out bonuses just amazing.....
4:08,
ReplyDeleteFAMU DRS doesn't have 35 teachers to lose !!!
That was FSU DRS!
11:07,
The economy is turning around!
No its FAMU DRS check the Democrat.
ReplyDeleteSorry no money from me until the FAMU BOT gets their priorties in order. The President's 35% salary increase is not acceptable at all. I work too hard for the few dollars I make.
ReplyDeleteSoooo...is Ammons turning down that bonus or what...?? I think he is letting this "Messiah: The Rattlers Savior" stuff get to his head. Thank you for what you've done, but you nor your "A-list" staff could have done it without the employees, many of whom have never received raises (unless the STATE gave it to them) since they've been employed!! What the...??? I'm not understanding...you can lay-off university staff (coming soon...I hear); assist or enlist university aid to many other area schools except your very own DRS (FAMU DRS that is); let AD Billy Boy Hayes screw up the athletic budget and not to mention the recent firings of the track coaches...the list goes on!!! It's hard to love and give back to a school that doesn't seem to love you or give back! I pity the students and the low-paid staff who actually makes the university function! WELL NOT FINANCIAL AID...they need interpersonal skills training!!! They act like the students owe them something...THE STUDENTS PAY YOU!!!! NO STUDENTS, NO PAY! I'm just damn flabbergasted! BOT ought to be ashamed. I'm saying that he doesn't deserve something but now is not the time...it's a slap in the face! I feel an Alumni chapter invention coming on!
ReplyDeletePlease keep in mind during Ammons' leadership ...
ReplyDeleteAmmons also took the $1,000 bonus (joke) along with other employees earlier this year - So he is now taking 2 bonuses
FAMU still can't produce a requested transcript
You still can't get a person to answer the phone in the financial aid office, the registrar, nor admission
VENDORS have yet to be paid - so employees can't order needed supplies
Preparation of Employee contracts still takes 2 or more months
THIS IS NOT IMPROVEMENT ...
I've had no problem whatsoever in getting a transcript, meeting with a financial aid rep, access to the Registrar's Office or Admissions. I think some of you people like to complain because you don't have anything else to do.
ReplyDeleteAnd by the way, my dad is a FAMU vendor and his terms are Net 30. FAMU pays its bills on time EVERY month.
Thank God for Dr. Ammons & his team. I will continue to support the FAMU Foundation.
WAIT A MINUTE.....the foundation lost a ridiculous amount of money!!!!!!! RN request the minutes from their last Foundation meeting, it was like two or three weeks ago. They took a HUGE hit, but after all the Foundation is led by Carla Willis.....another Ammons hook-up. She had NO experience with foundations and fiscal affairs before coming to FAMU, but since Ammons wanted to pay her $175,000 a year, she became not only VP for University Relations, but Executive OVER the foundation. So she not only brought in hardly any money (that someone making her salary should be doing) into university relations, her ineptness is crippling the foundation. The only somewhat success was the Tom Joyner, but we still didn't make our mark. In fact, the Tom Joyner campaign was already under way BEFORE she got there. She can't even claim that.
ReplyDeleteBut we saw this coming.....Ammons hired her with absolutely NO vice presidential experience (over more qualified individuals)....and we hired her husband to boot......LOL. We hired her husband OVER a former FAMU EMPLOYEE OF THE YEAR! Together they are pulling a QUARTER OF A MILLION dollars in salary from the school.
They're getting rich, now exactly what does FAMU get again?????
But I guess we have to keep giving money to the school so it can keep giving it away to friendship network. If our BOT was worth anything....they would have done a financial audit and held someone accountable for the fact that we've exploded the salaries for a few and their family members, but those here during the tough times are still at the same salaries. But our board was appointed by Republicans.....need I say more.
Can we PLEASE get an ENTIRELY NEW BOARD!!!!! Someone is supposed to provide oversight!
7:01PM--everything you said is B.S.
ReplyDeleteAmmons and his crew of grifters are pulling money out of FAMU at an astounding rate. We may wake up one morning and they will all be gone--we should only be so lucky.
ReplyDeleteFAMU DRS Superintendent Ronald Holmes (by the way he is the brother of FAMU’s Board of Trustee R.B. Holmes) makes $116,000 for a K-12 school with less than 400 students while Leon County Superintendent Jackie Pons makes $128,000 for 30,000 students. He fired 35 teachers and he makes that much money for a school with only 400 students. That makes no sense. Did he fire those 2 administrators he hired last year?? They are not even certified….
ReplyDeleteI heard from a real official in the know that Ammons is definitely going to keep that bonus. While the man has certainly done a wonderful job in the two years he's been here, surely he reconizes how it "looks" for him to accept it when $$ are tight, tuition is rising, programs are being cut, folks are leaving -- and many not of their own accord -- and the faculty has not gotten a raise in years. Also, I agree with 6/2/09 @ 11:07 AM. Not if my dollars go to fluffy stuff.
ReplyDeleteNo, No, No!, 4: 16 PM. You read that wrong. It IS FAMU-DRS, not FSU's developmental school! Read the Tallahassee Democrat's 6/3/09 edition.
ReplyDelete7:01, no one cares dip about your daddy. You use ONE example to justify your support of a program that is in ruins. I hope that you aren't somewhere working in statistics. You'd have everbody reveling in ten-star status.
ReplyDeleteI think 7:01 further substantiate issues outlined by 5:54, the point being if you are friend, family, bed-fellow, etc.. you don't have any issues with the operational processes because you get preferential treatment as opposed to what should be a simply business transaction that works seamlessly for EVERYONE!!!
ReplyDelete1. Transcript – I’ve had absolutely no problem in getting a copy of my transcript. It helps when you make a clear, courteous reply & be prepared to pay your fee.
ReplyDelete2. Financial Aid – APPLY ON TIME & stop blaming FAMU for your incompetence.
3. Vendor Payments – Those vendors that submit invoices, WITHOUT DISCREPANCIES on them are paid in full ON TIME.
Some of you chronic complainers need a life.
SUPPORT FAMU!!!
@9:43
ReplyDeleteHow can you support FAMU when those at the top that make the money decisions are taking that money and putting in their pocket. 35 FAMU DRS teachers have been fired, they getting ready to cut programs, students tuition being increased (most ours students are on financial aid and that being cut here and there), and they may still be cutting staff and other things, BUT they giving out bonuses and hiring/keeping administrators that are basically doing nothing but collect a check. I mean taking that bonus will do nothing but hurt your asking for money cause nobody can understand that and don't want to give money if that what they believe its going to be used for. You can't ask folks support and love FAMU when the administrators seems to not care about FAMU. That money could be used to actually HELP FAMU.
I told y'all last week that this was just SMOKE SCREEN. There are other REAL issues out there. Honestly, we may not get this one to go our way, but mark my words that this is NOT what we need to be focused on. Trust me.
ReplyDelete11:28, so YOU have all the answers? Tell us what we should be "focused on."
ReplyDelete12:42 aka Misery Loves Company, I DO NOT have ALL the answers! Obviously you DON"T either. We have to move on what we can and this is definitely NOT on the top of the list of REAL PRIORITIES. Not for the BOT or for FAMUans at large. NOT AT ALL. You like drama and surely you'll find it where you will. I'm commenting on this issue merely to put things in perspective. Right or wrong, its DEFINITELY NOT deserving of more attention than the things that matter to FAMU and FAMUans at large. FAMU FOREVER. And I SUPPORT the FAMU Foundation. Also if I thought that the likes of you would have the best interest of FAMU and FAMUans in mind, I'd show my face. I know its not something people like you do, so I don't bother. Always negative. You can play naysayer and still be FAMily, but you choose antagonism.
ReplyDeleteHubba Dat!
ReplyDeleteActually, 7:16, I "show my face" everyday. I teach at the university.
ReplyDeleteWhat are the figures for 2009???? RN you gotta report the truth. FAMU lost over 30 million in net assets. Its like you don't want to report that because it would make it even worse that Ammons is taking a bonus from the foundation that's leaking money right now. I think this whole bonus situation is ridiculous. The BOT continues to show horrible judgement and no oversight for the university. Its a yes board, the same in fact that was a yes board to Bryant and got our school on probation.
ReplyDeleteIf FAMU doesn't care about itself then why should we. I give five figures to FAMU every year. I'm going to stop now until I see real change at the university. To think that my money is going to a bonus when we are asking underpaid staffers and faculty to take pay cuts and furloughs. Unfortunately most don't do the right thing until they are forced to. And even more people don't learn their lesson until a financial punishment has been assessed. If Ammons can't address this situation then I hope I don't get any solicitation from him trying to address me giving back to the university.
You can't just talk to the rattler community when its only convenient for you.
Uh, RN reported the "year end" figures. FAMU has not finished the 2009 year yet.
ReplyDelete