Board of Trustees) dmk93@psu.edu Daniel A. Onorato (2025) Executive Vice President and Chief Corporate Affairs Officer, Highmark Health dao5287@psu.edu Terrence M. Pegula (2024) CEO, Buffalo Bills, Buffalo Sabres, and JKLM Energy, LLC tmp348@psu.edu Stanley I. Rapp (2023) Senior Partner, Greenlee Partners, LLC sir43@psu.edu Elected by Alumni Many on the Board seem to think it does not indicate any change at all to the existing investment policy. Penn State's Board of Trustees elects, appoints incumbent trustees, new members, Sarah Pellis & Lindsey Sauerhaft | The Daily Collegian, Penn States Board of Trustees approves new engineering building, demolition of Hammond Building, Penn State releases May, summer semester coronavirus mitigation plan, New Interim Vice President of Student Affairs Andrea Dowhower leads evidence-based, student-centered approach, Our reflection on spring semester 2023 so far | Been There, Done That. A board of trustees is a group appointed to preside over a nonprofit, charitable foundation or business. Spotlight PA is funded by foundations and readers like you who are committed to accountability and public-service journalism that gets results. It's hard to argue with taking payment for your time and effort. Will you do your part today by making a contribution? For fans of Harry Potter, in the prequel movie Fantastic Beasts: The Crimes of Grindelwald, Albus Dumbledore tells Newt Scamander the following: Do you know why I admire you, Newt? That said, a large and rapidly increasing portion of that budget is the cost of debt servicelargely from the construction projects for new and renovated dormitories. Furthermore, in Penn State University there were people in high place that know about Sandusky behavior and did nothing. Coming off a $127 million deficit last year, Penn State is under a blanket strategic hiring freeze until at least the summer of 2023 to help balance its budget. Sign up for our regional newsletter, Talk of the Town. Two members selected by the faculty and staff. Learn more about addressing the board and how to sign up. In fact, it is critical to the long-term health of our program that we do so. His dad, brother, and sister all graduated from the university, along with at least 20 of his cousins. six ((). He rose through successive management positions before being named president in 1974 and CEO in 1983. Penn State agreed to tighten some of its Greek life rules as part of its settlement with the Piazza family. Sign up for It is well past time that we at least equal the efforts of our Big10 peers and commit to raising funds first, and THEN stick shovels into the dirt.. In an internal memo obtained by Spotlight PA, the university declares it is time to recalibrate the relationships involved so the pendulum moves toward chapter self-governance, and away from University monitoring and intervention., According to the document, Penn State plans to end the regular monitoring of chapter houses, allow first-semester recruitment, and help Greek organizations that want to reestablish themselves at the university. Trustees are not paid and the university reimburses their travel expenses, though some board members forgo that reimbursement, DuBois said. Because alumni and current students are the largest stakeholders, with the most to gain or lose from the universitys good or bad fortunes, lets have alumni and student-elected members comprise 80% of the board. Receive all the latest news and events right to your inbox. How often are Penn States private planes flying during a budget crunch? Please, The Penn State Board of Trustees met Friday, February 17th 2023 at the Penn Stater to vote on eight agenda action items. You simply ask, is a thing right, in itself? And I will admit, although Im not proud of it, there was a certain amount of name-recognition ultimately involved in many of my votes. While its common for boards to cover the cost of doing business, details of the spending come as the university raises tuition and slashes spending to overcome a $127 million budget deficit. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Before you move on, I was hoping you would consider taking the step of supporting Spotlight PAs journalism either one time, or with a monthly gift. our region. Check the list of upcoming meetings and recent news for more information on livestream dates and times. Sent every Friday and Monday. Going through the highlights of the Penn State and State College news so you don't have to. The memo says that university officials who enforce the 2017 rules will focus on coaching Greek leaders. Brown, III (2022) President & CEO, KETCHConsulting, Inc. Alvin F. de Levie (2024) Attorney and Founder, Law Offices of Alvin F. de Levie, Barbara L. Doran (2022) CEO/CIO, BD8 Capital Partners, LLC. Alvin de Levie and Steven Wagman were elected by university alumni as alumni trustees, and incumbent Brandon Short was reelected. Insurance Rates Raised. What happened to the arrest, use of force data Penn State police promised to release? Indiana University of Pennsylvania President Michael Driscoll was the top earner among the State System schools at $438,000. Board of Trustees | Penn State University. Second, who are the people most likely to do the right thing? YouTubes privacy policy is available here and YouTubes terms of service is available here. Email: bot@psu.edu, Hours: 8:00 a.m. to 5:00 p.m. EST Spotlight PAs free weekly newsletter and get our Many trustees do, and it's certainly appropriate to be paid for the real work that comes with serving as a trustee. There was a problem saving your notification. Typically, either the trust document or state law says that trustees can be paid a "reasonable" amount for their work. If you purchase a product or register for an account through one of the links on our site, we may receive compensation. Fax: (814) 863-4631 Penn State trustees ratify request for major boost in state aid, Penn State trustees approve beer sales to general fan base during home football games. In partnership with the president, the board seeks to advance the institution while acting in the best interests of the University community. And because as trustee, you're in control of those assets, that means you're in charge of paying yourself. The fine increases to $500 to $2,000 for subsequent offenses. At least mine. Sign up for Several of these action items have further details; you can read the. Proposed Changes in Room and Board Charges for 2023-24 Academic Year. We dont believe vital investigative and public-service journalism should be hidden behind a paywall or only for those who can afford a subscription fee. (Tim Shaffer/Reuters) Penn State's Board of Trustees was blasted today in a newly released report on how the school handled the Gerald Sandusky child abuse debacle, accused of failing in. That is what the William Penn University Board of Trustees does. But the point was that I felt I was engaged and making reasonably good choices. The graduate student assembly passed a resolution earlier this month, asking that one graduate student and one undergraduate be added to the board. When the video of the meeting is released I will post a link to it on my website, https://barryfenchak4trustee.com. Learn more about who members represent on the Elections page. our exclusive reporting, plus the most important news and events from Community Rules apply to all content you upload or otherwise submit to this site. That said, we have many highly-qualified and experienced elected, voting members of the Board capable of taking on such a role. Penn State distances itself from past diversity proposals while launching similar efforts, Penn State trustees heard universitys diversity plan in secret 2021 gathering. The group made local news last week after allowing its fraternities to register State Pattys weekend social events for the first time since 2011. University Park Airport Reopens After Evacuation for Suspicious Item Found in Luggage, State Pattys Day: Reflection of Indiscretions. ], Proposed Naming of the Building Located at 2137 Research Drive, State College in CATO Park to the Lidia Manson Building CATO Park (Action Item 2), Proposed Authorization to Expend Funds, ICA Facility Investments, University Park (Action Item 3), [Approval of $7.5 Million Intercollegiate Athletics (ICA) spending, financed via debt, to add a video board, sound system, and other ancillary items to the football practice fields.]. In the World According to Hook, the easiest definition is those things that further the purpose of the university. She also served as Chair of the Penn State Board of Trustees from 2004-2007. Army Veteran, 20+ year Law Enforcement Investigator, Private Investigator, and Digital Forensics Examiner driven to uncover the truth and find answers for challenges of all shapes and sizes . To balance the budget by 2025, the university is attempting to save an estimated $250 million and, in the last few weeks, it has both raised tuition and . Valerie L. Detwiler (2022) Senior Vice President, Senior Commercial Banker, Lynn A. Dietrich (2023) Retired Professional Engineer (PE). Lubrano and Company, Inc. In three of the past four completed fiscal years, the boards annual spending was more than $300,000, the exception being the pandemic-affected 2020-21 fiscal year when the trustees spent $89,168, according to the finance reports. STATE COLLEGE Penn State is quietly planning to roll back its oversight of fraternities and sororities, policies the university championed in 2017 following the hazing death of a student. Other factors stem from emotions, not money. The financial disclosures for the six meetings from September 2021 to July 2022 were among materials made available for the trustees Committee on Governance and Long-Range Planning meeting Sept. 22. who are committed to accountability journalism that gets results. The university has raised $8 million for the project so far. Specifically HBCU, so I can tell you that going to an HBCU is truly important especially if you . For the past six meetings, the trustees spent more than $75,000 total, or an average of roughly $12,500 per meeting. We dont believe vital investigative and public-service journalism should be hidden behind a paywall or only for those who can afford a subscription fee. Now lets translate that into action and create a new Board of Trustees! That purpose, as defined by the bylaws of the University, is a multi-campus public research university that educates students from Pennsylvania, the nation and the world and improves the wellbeing and health of individuals and communities through integrated programs of teaching, research and service.. Its members include the university's president, the Governor of the Commonwealth, and the state Secretaries of Agriculture, Conservation and Natural Resources, and Education, as well as a representative for the Governor. Megan Swift is the editor-in-chief of The Daily Collegian. spotlightpa.org/donate. For certain, those who advocate for ESG interpret that language as something very, very different. The average Board Member salary in Texas is $72,974 as of January 26, 2023, but the range typically falls between $56,258 and $90,123. The University of Pennsylvania's board of trustees is led by a New York City investment banker, one of many . Don't charge a professional ratethe hundreds of dollars an hour that a lawyer or financial advisor might chargeunless you have and are using special skills that justify it. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. But I am not an advocate for the prices we have paid for many of those projects. That said, a large and rapidly increasing portion of that budget is the cost of debt servicelargely from the construction projects for new and renovated dormitories. Proposed Authorization to Engage External Auditors (Action Item 1). Our readers keep us independent, beholden to no outside influence, and accessible to everyone whether they can afford to pay for news, or not. STATE COLLEGE, Pa. - Penn State's Board of Trustees elected banking executive Karen Peetz to lead the embattled board and help the school negotiate the aftermath of a nightmarish child. Before you move on, I was hoping you would consider taking the step of supporting Spotlight PAs journalism either one time, or with a monthly gift. One searches in vain for public praise of Penn's payment of the TCJA tax. Monday - Friday Well, the above functions are the result of management. I am a strong advocate for inclusion of Trustees on the PSIC. Rudy Glocker, a Nittany Lion letterman on the ballot in the race, said With gratitude, During the Sept. 22 governance committee meeting, David Kleppinger, a governor-appointed trustee, said the board supports university-operated services. Thanks for reading Barry Fenchak For Penn State Trustee! But Penn State's Board of Trustees didn't help the process, and even might have invited this latest round of speculation, by debating $48.3 million in football upgrades before approving the. So if you're inheriting everything or almost everything in the trust, there's usually no reason to call some of the money a "fee"you'll only end up paying more tax than you have to. 2023Spotlight PA228 Walnut St., #11728Harrisburg, PA 17108-1728. . Penn States Board of Trustees supported the 2017 changes, which included restrictions on socials, deferred recruitment from fall to spring semester, increased monitoring of Greek-letter organizations, and university oversight of misconduct adjudication. Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement, Privacy Policy and Cookie Statement, and Your Privacy Choices and Rights (each updated 1/26/2023). For example, 10 years ago a manager considering an investment in TESLA would certainly, if looking solely at their financial statements, not make such an investment (TESLAs financial positions at that time were awful, compared to its peers). The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site. The alumni trustees' report, co-signed by former trustees Anthony Lubrano and Ryan McCombie, and current board members Ted Brown, Barbara Doran, Robert Jubelirer, William Oldsey and Alice. The bulk of those expenses are for lodging, meals and break services, and other services, and that most of those are provided by university entities, Kleppinger said. The Daily is reporting that former Penn State head football coach Joe Paterno had close business ties with board members of The Second Mile, the charity founded by alleged child molester and former Nittany Lions assistant coach Jerry Sandusky. From giant corporations to predatory hedge funds, a small number of billionaire owners have a powerful hold on so much of the information that reaches the public about whats happening here. If we assign three board seats to the state, two to the faculty and one to the board for their use in filling a voice, we have a total of 30 trustees, and we hit our percentage goals above almost exactly. DuBois said trustees use university-owned fleet vehicles and WPSU produced the video celebrating former university President Eric Barron, who retired in May. These changes, which the university has not publicly acknowledged, were discussed on Nov. 16, 2022, during a private gathering of university leadership, Greek life leaders, and members of the Committee on Academic Affairs, Research and Student Life, which is part of the Board of Trustees. There is always one very straightforward financial consideration: a trustee's compensation is taxable income. Trustees are not paid and the university reimburses their travel expenses, though some board members forgo that reimbursement, DuBois said. Trustee spending peaked over the past decade during fiscal year 2015-16, when the board spent more than $415,000 on meetings, according to older financial reports. February 28, 2023. Six years later, Penn States new administration appears to be easing those restrictions. The COVID-19 Operations Control Center at Penn State released its plans for coronavirus mitigation, which will be in effect during May and the. 4/30/21 4:05 am. region. To someone like myself, who works in the investment management field, considering other factors aside from pure financials is common and prudent. Robert M. Frey, Attorney-at-Law, Frey & Tiley, P.C. But I am not an advocate for the prices we have paid for many of those projects. (Action Item 8), [Authorizes the Vice President of Finance to execute the LCB applications for various locations on campus. Handling other people's money is a serious responsibility. As a special bonus, all new monthly gifts made today will be matched as 12X their value thanks to the generosity of the Lenfest Institute for Journalism. Eric Hagarty, Acting Secretary, Department of Education, Abraham Amors (2024) Director of Operations, PA Municipal League, Daniel J. Delligatti (2023) President and Owner/Operator, M&J Management Corporation, J. Alex Hartzler (2022) Managing Partner & Founder, WCI Partners, LP, David M. Kleppinger (2022) Chairman Emeritus, McNees Wallace and Nurick, LLC (, Stanley I. Rapp (2023) Partner, Greenlee Partners, LLC, Governor's Non-Voting Representative: William S. Shipley, III, Chairman, Shipley Group. Dan Greenstein, the new State System chancellor, who began working. As Penn States governing body, the Board of Trustees takes a holistic approach to guiding goals, policies, and procedures as well as reviewing and approving University budgets. Do Not Sell or Share My Personal Information, real work that comes with serving as a trustee, Do Not Sell or Share My Personal Information. Everyone deserves access to the facts. foundations and readers like you University Park, PA 16802, Phone: (814) 865-2521 Donate to the Collegian by clicking the button below. the success and advancement of the University. Copyright 2023 MH Sub I, LLC dba Nolo Self-help services may not be permitted in all states. I dont believe that is accurate. And it also enables us to share that work with more than 90 newsroom partners in your community and communities across the state at no charge. Several of these action items have further details; you can read the published agenda and supporting materials that include details of the history of increases to Room and Board. In July, the board voted to raise tuition by 5%-6% to help increase revenue. and participate in a number of other committees and initiatives in addition to attending board meetings and executing trustee duties. This leads us to the question of how many total Trustees should Penn State have? Junker joined Marine Bank in 1964. The non-trustee members of all other bodies, boards of advisors and other boards and formed by the Trustees, with the exception of the Investment Board and the Penn Medicine Board and Penn Medicine Executive Committee, shall be nominated by the Chair of the Trustees and the President and elected by the Trustees for terms of three years unless .