Monday, December 15, 2008

 

Theft by Princeton

Princeton seems to have been stealing from the Robertson Foundation on a large scale. The Robertson heirs sued, and in a settlement they have been given 40 million dollars in legal fees and 50 million has been put into a new foundation. The complaint is worth recording. Of interest too is this statement about other abuses by Princeton, from page 16:

In 2002 and 2003, a Princeton employee named Jessie Washington conducted an investigation of donations to the University's Office of Religious Life and concluded:...

During my review of endowment accounts for the office of religious life, I discovered many problems with the management of the university's endowed funds. ... (T)hese problems affect every unit in the University that relies on endowment income.

2/20/03 Washington memo to Kalmbach and McDonough. Her Summary of Findings states:

I believe: 1) funding allocations are not in alignment with their intended purpose, i.e. the donors wishes have been ignored; 2) money intended for religious life -17- 925226.1 11/11/04 has been knowingly withheld;...

As one example, a $5,000 gift to maintain a chapel organ was used instead, according to a handwritten note, "to relieve general funds." Id. at Example 2. Another handwritten note states: "Dept. is not to know."

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