Posted on Sep 28, 2023
Avila University wants a court to lift restrictions on donations because it can't fund...
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The Catholic liberal arts school in Kansas City is asking a court to remove limitations that donors imposed on money they gave for scholarships. Avila University says that if it can't tap into its endowment, "the University will be challenged to meet its financial obligations."
Last month, Avila University touted its largest-ever incoming class.
Administrators talked about adding housing on the Kansas City campus and predicted they would have the money to expand programs and activities for students.
But just weeks earlier, university leaders had shared a less rosy view of Avila in a petition to a Missouri court to lift restrictions that donors imposed on money they gave for scholarships.
Avila wants to tap into its endowment — money that’s supposed to sit in bank accounts earning income.
Donors’ instructions on using their gifts are generally binding. And some donors instructed the university to only spend the earnings from their gifts. The principal was designed to stay untouched forever.
Avila wants access to part of that principal. It’s arguing that would best honor donors’ intentions that the money go toward scholarships during the next two years.
Last month, Avila University touted its largest-ever incoming class.
Administrators talked about adding housing on the Kansas City campus and predicted they would have the money to expand programs and activities for students.
But just weeks earlier, university leaders had shared a less rosy view of Avila in a petition to a Missouri court to lift restrictions that donors imposed on money they gave for scholarships.
Avila wants to tap into its endowment — money that’s supposed to sit in bank accounts earning income.
Donors’ instructions on using their gifts are generally binding. And some donors instructed the university to only spend the earnings from their gifts. The principal was designed to stay untouched forever.
Avila wants access to part of that principal. It’s arguing that would best honor donors’ intentions that the money go toward scholarships during the next two years.
Avila University wants a court to lift restrictions on donations because it can't fund...
Posted from kcur.org
Religion
Christianity
College
Kansas City
Posted 1 y ago
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PO1 William "Chip" Nagel one of my local universities is going through a similar difficulty. My opinion is that the original intention of the donations MUST be honored.
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Sgt Sheri Lynn
PO1 William "Chip" Nagel I get it, I really do. The univ I mentioned just let 34 terrific professors go. The deans had to struggled in making those choices. The univ admin is who was responsible, and knew this was coming for several years. so the univ dept heads have started a process to uncover the indefensible lack of action taken to prevent this. The admin didn’t even reach out to previous donors to the univ or alum or local organizations to try and fix or reduce the shortfall. They thought it would harm the university’s reputation if facts were known. The official vote of no confidence will publicize this.
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