Keeping it All in the Family

College President’s Family Members Make Bank

Oct 1, 2010

by Suada Kolovic

For those of you who aren’t familiar with what exactly is going on here, I’ll tell you: It’s called nepotism - defined as favoritism shown to relatives or close friends by those with power or influence. And what I wouldn’t give to be a member of Paula S. Wallace’s family right now. Ms. Wallace co-founded the Savannah College of Art and Design (SCAD) in 1978 with her parents and her then-husband. Since then, it has grown into one of the nation’s largest art schools and with that increase in success came an increase in compensation. According to her 2008 tax returns, Ms. Wallace made $1,946,730.

That amount tops the compensation of all but a handful of college chiefs. But SCAD, a relatively pricey and prosperous art school, is smaller than universities that pay in that range. Ms. Wallace, who is in her early 60s, became SCAD’s president in 2000. Her total compensation package grew by about $1.5-million between 2008 and the previous reporting period. But Ms. Wallace isn’t the only one raking in insane amounts of cash; she turned it into family affair.

Employee Current Title 2008 Compensation
Paula S. Wallace President and co-founder $1,946,730
Mother, May L. Poetter Trustee and co-founder $61,767
Husband, Glen E. Wallace Senior Vice President for College Resources $289,235
Son, John Paul Rowan Vice President, Hong Kong Campus $233,843
Daughter, Marisa Rowan Director of Equestrian Programs $101,493
Daughter-in-law, Elizabeth Rowan Director of External Relations, Hong Kong Campus $85,494

But where exactly does this money come from, you ask? Well, a large portion of the pay earned by Ms. Wallace and her husband comes from a for-profit entity called the SCAD Group Inc. This for-profit arm provides nonacademic services to SCAD—which has three branch campuses and a distance-education operation—including human resources, financial management, communication and student support. In 2008, its share of total income amounted to $111 million, or an amount equal to about 43 percent of the college's total expenses of $261 million. Did I mention this for-profit subsidiary also owns an airplane that administrators and trustees use for business, AND the pays for a personal assistant for Ms. Wallace? Guess I just did!

If you’re a SCAD student, were you aware this collegial family tree was in place? And for students everywhere, how would you feel knowing that your school was structured this way instead of with much more qualified individuals?

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

Discuss

Share your thoughts and perhaps thousands of students will benefit from your unique insight on the subject!



If you can read this, don't touch the following fields


 
Comments (0)

Most Shared Articles

Perhaps your 2017 New Year's Resolution is to earn more free college money - that's our goal for you! 2016 is now coming to an end, and so are these scholarship deadlines, so hurry and apply to these end-of-the-year awards while you still can! Girls Who Illustrate Awesomeness Scholarship [...]

0 months ago 6 comments Read More

The incoming Trump administration could reverse President Obama's actions on college sexual assault, giving hope to those who claim their lives were destroyed by false rape claims. However, this raises concerns for some that perhaps those who have been victims of sexual assault and made legitimate reports may not get the protection they deserve. Since 2011, colleges and universities have been [...]

1 months ago 5 comments Read More

Students are being called to "expose and document" professors "who discriminate against conservative students, promote anti-American values, and advance leftist propaganda" on a new website called Professor Watchlist. Turning Point USA, a 501(c)3 non-profit organization founded in 2012 promotes ideas of free-market capitalism and "educates students about the importance of fiscal [...]

1 months ago 7 comments Read More

Finding trustworthy and accurate scholarship and other financial aid information can be tricky these days, especially when it comes to sources that offer unreliable, often misleading content. "Scholarships" offered by scammers who charge fees and operate outside the laws, rules and ethics of modern-day netiquette abound. Here at Scholarships.com, we carefully and thoroughly vet [...]

1 months ago 0 comments Read More

American Flags designated for a Veterans Day ceremony at Brown University were torn and trashed by university students. While a group tried to protect remaining flags, others continued what they believe was a "justified" protest against the recent presidential election. The American flags arranged on Brown University's Main Green flew in honor of the annual Veteran's Day ceremony, which made [...]

1 months ago 16 comments Read More

Black Friday deals will be unleashed in just two weeks with some of the largest retailers getting an early start on Thanksgiving Day. When it comes to end-of-the-year scholarship hunting, no worries - we've got you covered. Score big this holiday season (and semester) with free college money: RMA Foundation [...]

1 months ago 0 comments Read More

The Associate Dean featured as the "chief villain" in a discredited Rolling Stone article on an alleged gang rape at the University of Virginia has been awarded $3 million by a federal court jury. This decision followed an earlier ruling that the discredited article ruined her reputation and "undermined her work to help students who had been sexually assaulted." In November 2014, Rolling Stone [...]

1 months ago 6 comments Read More

November is National Scholarship Month and in its honor, we're doing what we do best - offering the best scholarships out there to help students like you fund the cost of college. Whether you're in high school trying to land some free money before heading off to school or a college student looking to pay next semester's tuition, here are some of the few generous scholarships available to [...]

1 months ago 0 comments Read More

Two fans at UW Madison's weekend football game wore costumes depicting Donald Trump lynching President Obama. The school, though stating the costume was "repugnant" and "insensitive," backed the demonstration as free speech, protected under the First Amendment. Critics are now "deeply concerned" with the lack of action. A photo of the costume went viral on social media and police asked the [...]

1 months ago 13 comments Read More