Founded in 1999, the European Bartender School (EBS) is the world’s leading bartending school, operating over 25 schools across five continents. Its mission is to provide top-quality, globally recognized bartending and barista courses designed by industry experts.
EBS aims to train aspiring bartenders with practical and theoretical skills, offering a comprehensive International Bartender Course that equips students for global career opportunities. With over 80,000 graduates, EBS fosters a vibrant community, connecting students to jobs via EBS MatchStaff. The school emphasizes a fun, social learning experience, blending professional education with personal growth and travel
KANM Student Radio, founded in 1973 at Texas A&M University, began as Student Government Radio, broadcasting via cable on 107.5 FM in partnership with Mid-West Video Corporation. Initially airing from 4 p.m. to 2 a.m. weekdays, it offered diverse genres like hard rock and country. Despite early financial struggles, accumulating $5,783.64 in debt by 1977, KANM grew its influence through the 1970s and 1980s, facing technical issues like outages in 1978 and 1979.
It became independent in the 1980s, moving to the Pavilion complex in 1983 with equipment donations. KANM pioneered online streaming in 1998, transitioning to online-only by the mid-2010s. In 2024, it secured a low-power FM permit (KAGZ-LP 95.5 FM), marking a return to airwaves. Now located in the Memorial Student Center, KANM remains student-run, promoting non-commercial music and hosting events like the bi-annual “Save the Music” concert.
Howdy! I am so stoked to announce that we recently got to work with The Highway 6 Band, a sick group based out of College Station, to produce a KANM Library Session!!
Here’s a quick clip of the band performing their original song “Me or the Road” 🔊 pic.twitter.com/0lWpzZhFDU
In the November 2022 elections, a significant number of school bond referenda were presented to voters across the United States. For example, in Wisconsin alone, there were 57 successful capital referenda amounting to nearly $2.1 billion in authorized debt (Wisconsin Policy Forum)
In Texas, Central Texas schools had a total of $4.24 billion in bonds on the ballot, covering various propositions for school facilities, technology improvements, and athletic facilities (Fox 7 Austin)
In California and Arkansas, bond measures totaling $74 million — including school choice — were aimed at addressing school facility improvements (The74Million)
Voters in 16 North Carolina counties approved bond issues totaling $4.27 billion, with $3.08 billion dedicated to K-12 public school construction and improvements (EducationNC)
“The cure for high prices, is high prices” — They say.
Today we explore fiscal runaway in the US education “industry” with particular interest in the financing instruments for building the real assets that are the beating heart of culture in neighborhoods, cities, counties and states. We steer clear of social and political issues. The marketing of these projects — and how the loans are paid off — provides insight into the costs and benefits of this $100+ billion industry; the largest non-residential building construction market in the United States.
We cannot do much to stop the hyperbolically rising cost of administrative functionaries but we can force the incumbents we describe in our ABOUT to work a little harder to reduce un-used (or un-useable) space and reduce maintenance cost. Sometimes simple questions result in obvious answers that result in significant savings.
More recently hybrid teaching and learning space, owing the the circumstances of the pandemic, opens new possibilities for placing downward pressure on cost.
After Architect-Engineers and Building Construction Contractors (many of whom finance election advocacy enterprises) the following organizations are involved in placing a bond on the open market:
School Districts: Individual school districts issue bonds to fund construction or renovation of school facilities, purchase equipment, or cover other educational expenses. Each school district is responsible for managing its own bond issuances.
Colleges and Universities: Higher education institutions, such as universities and colleges, issue bonds to finance campus expansions, construction of new academic buildings, dormitories, research facilities, and other capital projects.
State-Level Agencies: Many states have agencies responsible for overseeing and coordinating bond issuances for schools and universities. These agencies may facilitate bond sales, help ensure compliance with state regulations, and provide financial assistance to educational institutions.
Municipal Finance Authorities: Municipal finance authorities at the state or local level often play a role in facilitating bond transactions for educational entities. They may act as intermediaries in the bond issuance process.
Investment Banks and Underwriters: Investment banks and underwriters assist educational institutions in structuring and selling their bonds to investors. They help determine bond terms, market the bonds, and manage the offering.
Bond Counsel: Bond counsel, typically law firms, provide legal advice to educational institutions on bond issuances. They help ensure that the bond issuance complies with all legal requirements and regulations.
Rating Agencies: Rating agencies, such as Moody’s, Standard & Poor’s, and Fitch Ratings, assess the creditworthiness of the bonds and assign credit ratings. These ratings influence the interest rates at which the bonds can be issued.
Investors: Various institutional and individual investors, including mutual funds, pension funds, and individual bond buyers, purchase school and university bonds as part of their investment portfolios.
Financial Advisors: Financial advisory firms provide guidance to educational institutions on bond issuances, helping them make informed financial decisions related to borrowing and debt management.
Regulatory Authorities: Federal and state regulatory authorities, such as the U.S. Securities and Exchange Commission (SEC) and state-specific agencies, oversee and regulate the issuance of bonds to ensure compliance with securities laws and financial regulations.
These organizations collectively contribute to the process of issuing, selling, and managing school and university bonds in the United States, allowing educational institutions to raise the necessary funds for their capital projects and operations. The specific entities involved may vary depending on the size and location of the educational institution and the nature of the bond issuance.
In the fiscal year ending June 30, 2023, charitable donations to U.S. colleges and universities amounted to $58 billion. This figure represents a slight decline of 2.5% from the previous year’s record of $59.5 billion, but it remains the second-highest level of donations in history (CASE) (Inside Higher Ed). This figure includes money donated for new building projects and other capital expenses.
Some benefactors contribute to the lifecycle upkeep of buildings they help fund. These contributions often come in the form of endowed funds specifically designated for the maintenance, repair, and renovation of facilities. Such endowments are crucial as they provide a continuous source of funding to ensure that buildings remain functional and in good condition over time.
Charitable giving to colleges and universities in the U.S. is governed by a range of standards and best practices designed to ensure transparency, accountability, and effectiveness. These standards help donors, institutions, and the public understand and manage the complexities of philanthropic contributions. Key standards include:
Donor Intent and Restrictions:
Documentation: Donor intent should be clearly documented in gift agreements or endowment contracts to ensure funds are used as intended.
Restrictions: Restrictions on the use of funds must be explicitly stated and agreed upon by both the donor and the institution. These can include specific programs, scholarships, research, or infrastructure projects.
Transparency and Reporting:
Annual Reports: Institutions should provide detailed annual reports on how donated funds are being utilized, including breakdowns of expenditures and outcomes.
Stewardship Reports: For major gifts or endowments, institutions often provide personalized stewardship reports to donors, detailing the impact of their contributions.
Governance and Oversight:
Board Oversight: Boards of trustees or equivalent governing bodies should oversee fundraising practices and the management of donated funds.
Audit and Compliance: Regular audits and compliance checks should be conducted to ensure adherence to donor restrictions and institutional policies.
Ethical Fundraising Practices:
Professional Standards: Fundraisers and development officers should adhere to ethical standards set by professional organizations such as the Association of Fundraising Professionals (AFP) and the Council for Advancement and Support of Education (CASE).
Confidentiality and Respect: Institutions must respect donor confidentiality and handle all interactions with integrity and respect.
Tax and Legal Considerations:
IRS Regulations: Donations must comply with Internal Revenue Service (IRS) regulations to qualify for tax deductions. This includes proper documentation of gifts and adherence to rules regarding charitable contributions.
501(c)(3) Status: Colleges and universities must maintain their 501(c)(3) tax-exempt status, which requires adherence to various federal and state laws governing charitable organizations.
Gift Acceptance Policies:
Policy Framework: Institutions should have clear gift acceptance policies outlining the types of gifts they can accept, including cash, securities, real estate, and in-kind contributions.
Review and Approval: Complex or potentially problematic gifts should be reviewed by a gift acceptance committee or similar body to assess risks and alignment with institutional priorities.
Endowment Management:
Spending Policies: Endowments should have spending policies that balance the need for current income with the preservation of principal to ensure long-term sustainability.
Investment Strategies: Institutions should adopt prudent investment strategies for their endowments, often guided by the principles of the Uniform Prudent Management of Institutional Funds Act (UPMIFA).
Recognition and Acknowledgment:
Donor Recognition: Institutions should have systems in place to appropriately recognize and thank donors, which can include naming opportunities, public acknowledgments, and donor recognition societies.
Acknowledgment Letters: Prompt and accurate acknowledgment letters should be sent to donors, including the necessary information for tax purposes.
By adhering to these standards, colleges and universities can effectively manage charitable contributions, ensuring that donor intent is honored, funds are used appropriately, and the institution maintains trust and credibility with its supporters and the broader public.
“Ten Books on Architecture” 30-20 B.C | Vitruvius
No single charitable organization claims hegemony over all others in the realm of charitable giving to U.S. universities but there are a others in the domain.
Association of Fundraising Professionals (AFP):
Role: AFP is a professional association that supports fundraisers through education, training, and advocacy. It serves a wide range of nonprofit sectors, including higher education.
Ethical Standards: AFP’s Code of Ethical Standards and Donor Bill of Rights are widely recognized and adopted by fundraising professionals in higher education.
National Association of College and University Business Officers (NACUBO):
Role: NACUBO represents chief business and financial officers through advocacy, professional development, and research.
Financial Management: It provides guidance on the financial management of gifts, endowments, and other resources critical to higher education institutions.
Council on Foundations:
Role: This membership organization supports grantmaking foundations in the U.S., including those that fund higher education.
Philanthropic Guidance: It offers legal resources, best practices, and networking opportunities for foundations that support colleges and universities.
Charity Navigator and Guidestar (Candid):
Role: These organizations evaluate and rate nonprofits, including higher education institutions, based on their financial health, accountability, and transparency.
Public Accountability: By providing ratings and financial data, they help donors make informed decisions about their contributions to colleges and universities.
Internal Revenue Service (IRS):
Role: As the federal tax authority, the IRS oversees the tax-exempt status of educational institutions and enforces compliance with laws governing charitable contributions.
Regulations: The IRS provides guidelines and requirements for tax-deductible donations, ensuring legal compliance in charitable giving.
Giovanni Paolo Panini, An architectural capriccio with figures among Roman ruins
The post-pandemic #WiseCampus transformation requires significant capital to meet the sustainability goals of its leadership. Campuses are cities-within-cities and are, to a fair degree, financed in a similar fashion. Tax-free bonds are an effective instrument for school districts, colleges and universities — and the host community in which they are nested — for raising capital for infrastructure projects while also providing investors with, say $10,000 to $100,000, to allocate toward a tax-free dividend income stream that produces a return in the range of 2 to 8 percent annually.
An aging population may be receptive to investment opportunities that protect their retirement savings from taxation.
Once a month, we walk through the prospectuses of one or two bond offerings of school districts, colleges and universities and examine offering specifics regarding infrastructure construction, operations and maintenance. We pay particular attention to details regarding “continuing operations”. Somehow the education industry has to pay for its green agenda. See our CALENDAR for the next Finance colloquium; open to everyone.
The interactive map provided by Electronic Municipal Market Access identifies state-by-state listings of tax-free bonds that contribute to the construction and operation of education facilities; some of which involved university-affiliated medical research and healthcare delivery enterprises.
CLICK ON IMAGE FOR INTERACTIVE MAP
If you need help cutting through this list please feel free to click in any day at 11 AM Eastern time. Use the login credentials at the upper right of our hope page. We collaborate with subject matter experts at Municipal Analytics and UBS.
*We see the pandemic as a driver for a step-reduction in cost in all dimensions of education communities. We coined the term with a hashtag about two years ago.
*College and university infrastructure projects are classified with public school districts under the rubric “municipal bonds” at the moment. CLICK HERE for more information.
As of January 2022, there were a few municipalities in the United States that allowed non-citizens to vote in local elections, but no entire states. These municipalities included:
San Francisco, California: Non-citizens are allowed to vote in school board elections.
Chicago, Illinois: Non-citizens are allowed to vote in school board elections.
Takoma Park, Maryland: Non-citizens are allowed to vote in local elections.
It’s worth noting that these policies may change over time as local governments make decisions regarding voting rights. For the most up-to-date information, it’s best to consult the specific laws and regulations of each municipality or state.
“Election Day, 1944” | Norman Rockwell for the Saturday Evening Post
School bond elections — either at county or district level — are processes through which communities vote to authorize the issuance of bonds to fund various projects and improvements in their local school districts. The elections determine the quality of educational settlements –new school buildings, renovating existing facilities, upgrading technology, and improving safety measures. The outcomes of these elections directly affect the quality of education and learning environments for students within the county. Successful bond measures can stimulate economic growth by creating jobs and attracting families to the area.
Community involvement and voter turnout are essential in determining the allocation of resources and shaping the quality of life for its citizens. In recent years, however, voter ambivalence about the education “industry” in general, the rise of home schooling and other cultural factors, complicate choices presented to voters.
In terms of total spend, the US elementary and secondary school industry is about twice the size of the higher education industry according to IBISWorld. About $100 billion is in play every year for both (which we cover during our Ædificare colloquia); with higher education spending only half of what elementary and secondary school systems spend on facilities.
Note that some districts are including construction for faculty housing.
Our focus remains on applying global standard to create educational settlements that are safer, simpler, lower-cost and longer-lasting — not on the hurly-burly of local school bond elections. We recommend consulting the coverage in American School & University for more detailed and more timely information.
Professor Karl Siebert, who teaches FDSC 4300, The Science and Technology of Beer, demonstrates how to properly pour a beer and discusses the sensory experience of beer appreciation. In a recent study, Siebert identified the key component in a ‘perfect’ head of beer: a barley protein known as Lipid Transport Protein 1 or LPT1.
New update alert! The 2022 update to the Trademark Assignment Dataset is now available online. Find 1.29 million trademark assignments, involving 2.28 million unique trademark properties issued by the USPTO between March 1952 and January 2023: https://t.co/njrDAbSpwBpic.twitter.com/GkAXrHoQ9T
