A lot of engineering professors have side consulting businesses and spin off companies. A know a few who became quite wealthy.
$200,000 seems high to me too, but salaries for business professors are usually in the high 5-low 6-figure range. I know several people who got PhDs in marketing and accounting, and most of the tenure track offers they entertained were in this range.
Okay, I can see where those figures come from. Unfortunately, math professors only see numbers like these at major research schools. Writing a best selling textbook works as well.
Ahh, see there are many entities waltzing around that are “non profit” that are very hinged on making tons of cash and not paying taxes. Non profit implies they’re not taxed, not they’re not raking in bucks. I’ll give you an example in my own back yard
UPMC, the University of Pittsburgh Medical Center, had a meager 93 million in profit last year. I don’t even need to provide cites for the Catholic church or think tanks et al. If UPMC were in the business of “non profit” work, they’d have kept a hospital open in a poverty stricken neighborhood.
“Non profit” does not mean charity, it also does not mean “whatever comes in goes out”. Non profit means not paying taxes. Plain and simple.
“Non profit” means profits are not distributed to shareholders, and are instead plowed back into the mission of the institution. As an effect of this, there are certain tax advantages. Now, sometimes, rather than supporting the mission, you see salaries at the upper levels of the organization start to balloon, but if that gets too out-of-control, the IRS does start asking uncomfortable questions.
You can find details of every school’s athletic budget at this website: http://ope.ed.gov/athletics/
As someone said upthread, very few schools make significant money from athletics.
@ OP - Your head coach just an extension on his contract and a raise to $2 million per year.
I was not aware of this site. Thanks for the link!
Me either, ditto the thanks!
::Twitch::
“Et” means “and”. Just sayin’.