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Burk-Bergman Boathouse
Standards Pennsylvania | Summer Watersport
Painting by Ed Ryder
The Burk-Bergman Boathouse is one of the oldest and most distinguished collegiate rowing facilities in the United States. Located at 11 Kelly Drive on Philadelphia’s historic Boathouse Row, it serves as the home of the University of Pennsylvania’s men’s heavyweight, men’s lightweight, and women’s varsity rowing programs. It is also the only collegiate boathouse on Boathouse Row; the remaining boathouses belong to rowing clubs and other organizations.
A medal in the Champ Fours, and we’re bringing the MacMahon Cup Team Points trophy back to Boathouse Row! Great weekend up in Boston!
📰 https://t.co/xxJncv8jgk#FightOnPenn 🔴🔵 pic.twitter.com/zI3Lirsn4Q
— Penn Heavyweight Rowing (@pennhwtrowing) October 22, 2023
A little less dramatic than a year ago (THANK GOODNESS!!!) but it’s always exciting to see your name come up during the NCAA selection show! Still feeling the vibes this morning! Work ahead.#FightOnPenn ❤️💙 pic.twitter.com/8IjPwG3Zun
— Penn Women’s Rowing (@PennWRowing) May 17, 2023
Penn rowing traces its origins to 1854, but the present boathouse was constructed in 1875–1876 for the University’s College Boat Club, making it among the oldest surviving collegiate boathouses in America. Over the next century, successive additions responded to growing participation, but the resulting building became a patchwork of spaces with limited accessibility and aging infrastructure. In 2022, following a comprehensive restoration and expansion, the facility was renamed the Burk-Bergman Boathouse in honor of legendary Penn rowing coaches Joe Burk and Stan Bergman, whose combined coaching careers span much of the twentieth century and produced national champions, Olympians, and Ivy League titles.
How to Get Recruited for Men’s College Rowing: Times, Standards and What Coaches Look For https://t.co/iwdmGimQvh
— Standards Michigan (@StandardsMich) July 31, 2026
Relata:
NCAA USA Rowing Host Operations Manual
Uniform Swimming Pool, Spa & Hot Tub Code
“The Bathing Pool” / Hubert Robert (French, 1733–1808) / Gift of J.P. Morgan
2024 Uniform Swimming Pool, Spa and Hot Tub Code
The IAPMO code development process is one of the best in the land. Its Read-Only Access — needed for light research — is also the best in the land; unlike other ANSI accredited standards developers (who shall be un-named). The current edition is dated 2024, with the 2027 revision accepted public input until March 3, 2025 according the schedule linked below:
2027 USPSHTC Code Development Calendar
Related:
Water and Electricity
Supporting swimming pools with electricity involves various essential functions such as filtration, heating, lighting, and sanitation. Ensuring safety and energy efficiency is crucial, and pool owners can take steps to minimize electricity costs and environmental impact. Key points:
Filtration and Circulation: Swimming pools rely on electric pumps to circulate water through filters, removing debris and maintaining water quality.
Heating: Electric heaters or heat pumps are used to regulate water temperature for comfort, especially in colder seasons.
Lighting: Underwater and pool area lighting enhance safety and aesthetics, typically powered by electricity.
Chlorination and Sanitation: Electric chlorinators or ozone generators help maintain water cleanliness and hygiene.
Automation: Electric control systems enable pool owners to manage filtration, heating, and lighting remotely for convenience and energy efficiency.
Energy Efficiency: Pool owners can invest in energy-efficient equipment, like variable-speed pumps and LED lighting, to reduce electricity consumption and operating costs.
Operations and Maintenance: Regular electrical maintenance ensures safe and reliable pool operation, preventing electrical faults and hazards. The electricity cost for pool operation can be significant, so pool owners should consider energy-efficient practices and equipment to reduce expenses.
Education communities present one of the largest installed bases of artificially created bodies of water; the most abundance resource on earth. These bodies vary in size, purpose, and design but are all created by human intervention to serve specific needs, whether practical, recreational, or aesthetic. Safe and sustainable management of them in the Unite States are informed by best practice found in Article 680 of the National Electrical Code with scope statement below:
Construction and installation of electrical wiring for, and equipment in or adjacent to, all swimming, wading, therapeutic, and decorative pools; fountains; hot tubs; spas; and hydromassage bathtubs, whether permanently installed or storable, and to metallic auxiliary equipment, such as pumps, filters, and similar equipment.
Consultation on the First Draft of the 2026 revision closes August 24, 2024.
Related:
Pool, Fountain, Agriculture & Water Infrastructure Electrical Safety
https://www.si.com/extra-mustard/2016/08/15/michael-phelps-poses-bottom-university-michigan-pool-2005
Schenkingen
“The secret of great fortunes without apparent cause
is a crime forgotten, for it was properly done.”
CASE FAQ for Standards: Definition of Educational Philanthropy
Are they hedge funds with a side hustle in teaching, research and building construction? Are they tricked out memorial gardens for philanthropists? In either case leaders of educational settlements are expected to act in the best interests of both their institution and their donors, and to maintain high standards of transparency, accountability, and ethical conduct when accepting charitable gifts.
University endowments are comprised of money or other financial assets that are donated to academic institutions. Charitable donations are the primary source of funds for endowments. Endowment funds support the teaching, research, and public service missions of colleges and universities.
In the case of endowment funds for academic institutions, the income generated is intended to finance a portion of the operating or capital requirements of the institution. In addition to a general university endowment fund, institutions may also maintain a number of restricted endowments that are intended to fund specific areas within the institution, including professorships, scholarships, and fellowships.
More
2021 NACUBO-TIAA Study of Endowments
University of Michigan: Policy Guidelines for Naming of Facilities, Spaces and Streets
Dartmouth University Endowment Report 2023
https://www.dartmouth.edu/investments/docs/dartmouthendowmentreport2023.pdf
The largest philanthropic gift ever given to a United States college or university is the donation of $9.6 billion made by MacKenzie Scott to various organizations, including several universities, in 2020. Scott, the ex-wife of Amazon founder Jeff Bezos, made the donation as part of her commitment to give away the majority of her wealth to charitable causes. The universities that received donations from Scott include historically black colleges and universities, community colleges, and research universities such as the University of California, San Diego, and Johns Hopkins University. The donation was considered significant not only for its size but also for its focus on supporting organizations that serve underrepresented and marginalized communities.
There are several standards and best practices that are generally followed by universities and colleges when accepting charitable gifts. These standards are designed to ensure that the gift is used effectively and that the interests of both the donor and the institution are protected. Some of the key standards include:
- Transparency and accountability: Universities and colleges are expected to be transparent about how gifts are used and to provide regular reports to donors on the impact of their gifts.
- Due diligence: Universities and colleges are expected to conduct due diligence on potential donors to ensure that their gifts do not create conflicts of interest or ethical concerns.
- Gift acceptance policies: Many universities and colleges have established gift acceptance policies that outline the types of gifts that will be accepted and the procedures for accepting them.
- Donor recognition: Universities and colleges are expected to recognize donors in an appropriate and meaningful way, while avoiding actions that could be seen as an endorsement of the donor’s business or political interests.
- Ethical fundraising: Universities and colleges are expected to follow ethical fundraising practices, including avoiding pressure tactics or misleading information, and ensuring that donors are aware of any tax implications of their gifts.
Overall, universities and colleges are expected to act in the best interests of both their institution and their donors, and to maintain high standards of transparency, accountability, and ethical conduct when accepting charitable gifts.
Crain Memorial Research Grant
The GASB awards research grants of up to $10,000 each for projects undertaken by graduate students that inform its standard-setting activities. The award honors Gilbert W. Crain whose work helped establish governmental accounting as a rigorous academic discipline. The typical application cycle has proposals due at the end of May, with awards announced about a month later before a new cycle resumes.
Gilbert W. Crain Memorial Research Grant
Topics of current interest include:
- Digital assets
- Digital financial reporting
- Environmental credits
- GAAP utilization
- Fund balance
- Essentiality of note disclosures
- Other projects on the GASB technical agenda.
Related:
The joint FASB/GASB Postgraduate Technical Assistant Program places outstanding graduate accounting students with the Boards for a year, where they participate directly in standards development and research—a remarkable pathway into the accounting standards profession.
Endowment Standards
Relata:
Uniform Prudent Management of Institutional Funds Act
Financial Accounting Standards Board (FASB) Guidelines: Topic 958
Ryan Fieldhouse
Northwestern University Facilities
— Standards Michigan (@StandardsMich) April 10, 2026
There was a time when college buildings were most often named for scholars, presidents, and teachers whose lives were devoted to advancing knowledge. Their names reminded students that universities exist first to discover, preserve, and transmit learning.
Today, many new buildings bear the names of benefactors whose generosity made their construction possible. Modern research laboratories, residence halls, performing arts centers, and athletic facilities often require gifts measured in the tens or hundreds of millions of dollars. The name recognizes not only financial support but also a lasting commitment to the institution’s future.
Neither tradition is without merit. One honors intellectual achievement. The other honors stewardship. Together they tell the story of how universities endure: ideas require both those who create them and those who provide the means for them to flourish.
Perhaps the question is not whether a building should bear the name of a scholar or a donor, but whether its name reminds future generations why the institution was built in the first place.
Tax-Free Bonds
Current Referenda | Ballotpedia
As the adage goes: “The cure for high prices, is high prices”. Today–ahead of the August primary elections in the United States (when bond referenda appear on ballots — we explore fiscal runaway with particular interest in the instruments that finance construction of the real assets. We recap what we have been doing for 30-odd years placing downward pressure on life-cycle cost.
Perspective:
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- The largest school bond referendum on ballots in November 2025 is the $1.4 billion package for Richardson Independent School District (ISD) in Texas.
- University of Michigan’s 2025 $2 billion general revenue bonds
- New York University’s 2025 $2.18 billion bonds through the Dormitory Authority of the State of New York
- The largest school bond referendum on ballots in November 2024 was Measure US for the Los Angeles Unified School District (LAUSD) in California, totaling $9 billion.
- 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.
Regulation or Money-Laundering?
Every school building begins twice: first in the bond market, and later on the construction site. 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.
Bond issuances affect local property values.
Current Projects
We track action in the catalog of this consortia standards developer because we continually seek ways to avoid spending a dollar to save a dime; characteristic of an industry that is a culture more than it is a business.
Compensation—Retirement Benefits—Defined Benefit Plans | Comments due: August 10, 2026
While not an ANSI accredited the FASB/GASB standards setting enterprise’s due process requirements (balance, open-ness, appeal, etc.)* are “ANSI-like” and widely referenced in education enterprise management best practice. Recent action in its best practice bibliography is listed below
ACCOUNTING STANDARDS UPDATES ISSUED
For obvious reasons, we have an interest in its titles relevant to Not-For-Profit Entities
WHAT IS THE FASB NOT-FOR-PROFIT ENTITY TEAM
Inside the latest PCC meeting: a closer look at what’s shaping the Council’s current priorities. 🎥 Watch the update: https://t.co/VZ02TZwcVu
— FASB, GASB, and FAF (@FAFNorwalk) October 28, 2025
At present the non-profit titles are stable with the 2020 revision. That does not mean there is not work than can be done. Faculty and students may be interested in the FASG program linked below:
Also, the “Accounting for Environmental Credit Programs”, last updated in January, may interest colleges and universities with energy and sustainability curricula. You may track progress at the link below:
EXPOSURE DOCUMENTS OPEN FOR COMMENT
The Battle about Money
We encourage our colleagues to communicate directly with the FASB on any issue (Click here). Other titles in the FASB/GASB best practice bibliography are a standing item on our Finance colloquia; open to everyone. Use the login credentials at the upper right of our home page.
Issue: [15-190]
Category: Finance, Administration & Management, Facility Asset Management
Colleagues: Mike Anthony, Jack Janveja, Richard Robben
What do you think: Do investors need a clearer picture of non-financial donations made to not-for-profits?#FASB needs your feedback to help help the Board determine how to move forward. Share your thoughts by April 10.#giftsinkind #charitablegivinghttps://t.co/MBMhEOFUlE pic.twitter.com/o4pdMC0yXq
— FASB, GASB, and FAF (@FAFNorwalk) March 31, 2020
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/njrDAbSpwB pic.twitter.com/GkAXrHoQ9T
— USPTO (@uspto) July 13, 2023
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