Lawrence Vernaglia: Legislature signals instability with hasty school mergers, compromising private investments systemwide

New College of Florida
We support an independent New College of Florida.

There are many good reasons not to disrupt successful colleges in Florida, as has been discussed in connection with the recent legislative proposal to merge New College of Florida, and Florida Polytechnic University, into other state universities (HB 7087).

One important aspect of this proposal hasn’t been sufficiently addressed — the role of the many private foundations, donors, and direct-support organizations that support these schools and their students.

In the case of New College, $50 million has been donated and is at work supporting college activities. These include, among other things, endowed professorships, dedicated scholarships, student grants, and faculty and student research — but only if they are done at New College.

My family is one such donor, having established an endowed scholarship years ago that continues to fund education at New College. We do not support transferring those funds to the control of another university. We support an independent New College of Florida.

But this issue is broader than just frustrating the charitable intent of patrons to New College and Florida Poly. Donors read the Legislature’s hasty consideration of this proposal as a cautionary message: It’s not safe to donate to Florida schools. Any of them.

If the Legislature can pull the rug out from under any university without notice, deliberation or planning, why should any donor trust the state with future resources? Wouldn’t it be wiser to put those private dollars to work in other, more stable, jurisdictions, where legacies can be relied on to build?

A smoke-and-mirrors merger will shake the confidence of donors and foundations seeking to support charitable investment activities at ALL of Florida’s state universities.

In exchange for marginal savings, if any, this signal of instability will compromise billions of private dollars that would otherwise support Florida schools, now and well into the future.

 ___

Lawrence W. Vernaglia is a 1991 graduate of New College and Boston University Schools of Law and Public Health. He is a health care lawyer, partner and Department Chair at Foley & Lardner, and past president of the New College Alumni Association. He resides in Sanibel and Boston, Massachusetts. He can be contacted at lvernaglia@foley.com.

Guest Author


2 comments

  • Michelle Jones

    February 24, 2020 at 3:39 pm

    Excellent point. I would never consider donating to New College if there was any chance the money would be controlled by another institution.

  • C. Soehl

    February 25, 2020 at 9:07 am

    The merger proposals show a lack of understanding of higher education in general and a lack of appreciation for variety in educational opportunities. New College appeals to a particularly well qualified and intellectually curious student who would not likely want to attend a smaller clone of USF or UF. Its reputation for success in obtaining national fellowships and scholarships would not extend to a satellite campus and national rankings for quality would disappear. The donors who support New College are not interested in having their contributions subsumed by large anonymous institutions. The Florida Legislature should stand back and take the time to become truly informed about this issue before acting rashly.

Comments are closed.


#FlaPol

Florida Politics is a statewide, new media platform covering campaigns, elections, government, policy, and lobbying in Florida. This platform and all of its content are owned by Extensive Enterprises Media.

Publisher: Peter Schorsch

Contributors & reporters: Phil Ammann, Jason Delgado, Drew Dixon, Renzo Downey, Rick Flagg, A.G. Gancarski, Joe Henderson, Janelle Irwin, Ryan Nicol, Jacob Ogles, Scott Powers, Andrew Wilson, and Kelly Hayes.

Email: Peter@FloridaPolitics.com
Phone: (727) 642-3162
Address: 204 37th Avenue North #182
St. Petersburg, Florida 33704