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June 19, 2015

Tom Brady Payment Shines Spotlight on College-Foundation Spending

Salem State University's $170,000 payment to Tom Brady for an hourlong appearance has drawn attention to other college foundations in Massachusetts, The Boston Globe reports.

Critics say some college foundations spend too much on luxuries, taking away funds that could be supporting needy students. Last year, Salem State’s $31 million foundation paid $300,000 in scholarships, less than twice what it paid Mr. Brady. 

Others say the foundations aren't as transparent as they should be and should make their finances public. A communications officer for Salem State said that most of the money managed by the foundation is designated for specific purposes, like academic programs or research.