Ohio State University has broken its commitments to the donor community, accepting their generous funding for one purpose and then using it for something else.
With student debt at an all-time high of $1.4 trillion, it is tragic to know that millions of dollars Ohio State committed to hold in perpetuity for student scholarships and other benefits for students and faculty are instead funneled away by the university and used to entertain wealthy patrons and pay administrators salaries.
Ohio State insists that people who enter into endowment contracts cannot enforce the terms of their own contract from the moment they sign the contract.
Ohio State never fails to assess a “development fee” every year on restricted endowment funds regardless of whether scholarships are fully funded. This indicates that Ohio State places entertaining wealthy potential donors higher than funding scholarships.
Philanthropy from its donor community should be helping students get a quality Buckeye education and only through transparency and accountability can donors and students be assured that Ohio State is living up to its commitments.
Ohio State makes a solemn vow when accepting generous funding from people who provide their hard-earned money to further specific Ohio State missions they care most about. But Ohio State has channeled millions of those funds away from their committed purposes.