Penn State Hits Financial High Despite Child Sex Abuse Scandal

Jerry Sandusky is behind bars and awaiting, what will likely be a life sentence, for being guilty of not only molesting his own adopted son (which was not a part of the case), but 45 charges of fiendish sex abuse against 10 boys since 2001.  But even after his diabolical acts came to light and coaching legend Joe Paterno was disgracefully fired for allegedly covering up for him, alumni came forward with huge numbers to support the embattled university.

Penn State alumni came forward to show the world that they will protect their institution by any means necessary.  The university boasts the second-highest total in the university’s fiscal history.  The record $208 million in donations concluded the fiscal year for the university which included an $102 million donation from Terry Pegula, “founder and former president of an energy company involved in Pennsylvania’s burgeoning natural gas industry”, who initially pledged $88 million according to the Huffington Post.

Rod Kirsch, senior vice president for development and alumni relations, said:

“We’re very grateful – humbled really – to have this kind of response from Penn Staters, who I think have rallied to the cause … by the side of the institution through a very difficult time.”

The gift given by Pegula was earmarked for the construction of a new arena for the hockey team and to upgrade the school’s club hockey team to Division I.  Is that all it takes to make your sports team a Division I competitor?  Wow.  And here we thought it was about athleticism.

The school claims it will not use the donations for any legal fees or anything resulting from the school’s sex abuse scandal.  So far those expenses have totaled $11.9 million since April 2012.  The school has just about reached its seven-year fundraising campaign goals of $2 billion with the latest donations bringing them to $1.6 billion.

Listen up, HBCU’s!  This is how you attain, keep, and protect your most valued institutions.  These folks are serious about protecting their culture via their institutions…by any means necessary.  Read more here.

-J.C. Brooks

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