Charitable Giving Down Among MnSCU Foundations

ST. PAUL, Minn. (AP) — The Minnesota State Colleges and Universities board meets Tuesday to hear a report on the finances of the 43 charitable foundations related to the system.

The report says expenses among the foundations during the last fiscal year were up from the year before while the money sent to the system was down.

In 2010, the foundations spent $10.06 million on salaries, benefits and indirect costs, up from $9.75 million the year before. The increase was attributed to rising costs and filling vacant jobs.

The foundations returned $24.14 million to the system or its colleges and universities last year, less than the $28.37 million returned the year before. That was due to a drop in charitable contributions.

The report on the foundations will be part of the trustee’s regular monthly meeting.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • Greg

    24 million returned to the Universities and 11 million in overhead cost. Overhead costs up more than 1 million while income is down. This is terrible management and a very bad investment for any donar. No wonder donations are down

  • Helper

    When will republicans get it through their pea brained little skulls that ‘Tax Breaks’ are ‘Spending’ !! ?? !!

    • I H8 helper

      You are over here crying also your life partner didnt give you a hug yet!

  • obama

    when will democrats get it through there heads that paying people for nothing only gets more nothing

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