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April 11, 2007

Fla. College Gives Outgoing Fund Raiser Hefty Severance

The top fund raiser at Florida Atlantic University is leaving after one year into his six-year contract, and is heading out with a nearly $580,000 severance package, reports The Sun-Sentinel, in South Florida.

University officials say Lawrence Davenport is leaving of his own accord to pursue a job as a university president elsewhere, the paper reports. But while his contract stipulates the severance pay be awarded in the case that he is fired, Frank Brogan, the university’s president, said the institution thought it best to honor the package anyway. Mr. Brogan said Mr. Davenport raised nearly $30-million for the college.

The decision has rankled some donors and others, who say the state school is too strapped to part with this sum of money. Herbert Gimelstob, who gave more than $1-million to the school, called the severance payment “deplorable.”

Wednesday April 11, 2007 | Permalink

Comments

1. As a recent college grad struggling to pay back loans, as a young person who has entered the not-for-profit field in the interest of giving to this world and not taking from it, I find this deplorable. It is one of the many reasons why so many young people are turning away from the not-for profit field. Maybe we should call it Florida Atlantic University Inc.

   — Charlie    Apr 11, 03:31 PM    #

2. His severance package equals less than 2% of what FAU says he raised. That’s a lot less than some other fundraisers get for bonuses. And why would a $580K severance package deter others from entering the nonprofit field? If anything, the possibility to make such a sum would encourage people to enter this field.

   — Dan    Apr 11, 04:30 PM    #

3. Future donors beware: the ole boy network of college presidents is alive and well despite efforts to govern via contracts. The ex-fundraiser/future president already agreed to the terms of his severance. Shame on FAU and the fundraiser for not honoring the terms of the contract.

   — Gloria    Apr 11, 04:33 PM    #

4. A $580K severance package would not deter others from entering the non profit world. Stress, doing the work of five and barely making financial ends meet will and let’s face it because of deplorable acts such as this; this is the reality that most of us in the non profit world face. How about remembering why he raised the funds to begin with and give a kid a chance to go to college without going into debt.

   — Charlie    Apr 11, 05:36 PM    #

Commenting is closed for this article.

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