Businesses are all over the United States. Without them, we likely wouldn’t have the wonder of supermarkets, cheap clothing available all over, or many other things we take for granted on a daily basis.
Nonprofit businesses are not quite as common, but still considerably popular. Schools are typically one of them, including the University of Nevada at Las Vegas.
Universities like the University of Nevada at Las Vegas rely on donations from alumni, community members, and anonymous sources that are often too proud to reveal their faces. Such a mystery has reared its head again, this time at UNLV itself.
The most recent President of UNLV is named Len Jessup, who was ousted from his seat after he was given bad reviews from the school’s chancellor. Further worsening his standing at the university, Mr. Jessup failed to get along with several unnamed regents, an academic term for any school’s directors.
So What’s The Big Deal?
An anonymous donor provided UNLV with a $14 million donation intended to fund the construction of the school’s new medical education facility. Just nine days – slightly more than one week – after Jessup received a negative review from the school’s chancellor, Mr. Jessup signed an agreement with a clause that stated if UNLV’s President or Medical Dean left before 2022 – either one – the $14 million gift effectively went “bye-bye.”
As of today, the University of Nevada at Las Vegas still doesn’t have that gift back, and doesn’t have a means of funding the medical school.