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The report highlights concerns about risk and decision-making, while listing practical ventures such as in-kind contributions, land development, and commercial enterprises to fund educational 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did colleges seek innovative financing methods in the 1980s?","Question",{"text":63,"@type":64},"Income and tuition increases had reached about their limit, and federal and state revenue sources had leveled off amid growing pressures and uncertainty.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"What role does an “entrepreneurial team” play in new financing?",{"text":68,"@type":64},"It coordinates goals, strategies, and steps for each idea, typically involving the board of trustees, the chief financial officer, and the president.",{"name":70,"@type":61,"acceptedAnswer":71},"What examples of new financing methods were listed for college campuses?",{"text":72,"@type":64},"Examples include in-kind contributions, land development, and commercial enterprises such as tourist attractions, travel agencies, power plants, and television 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Tuesday,March 26,1985  \n# COLLEGE FINANCING IN THE 1980s:MINING,MEDICINE AND MOTELS\n\nPark College of Parkville,Mo.,mines limestone on campus property,the Univer-sity of Utah has interest in 12 biomedical companies and Milsaps College ofJackson,Miss.,runs a motel.  \nMining,medical companies and motels are not the sort of business enterprisestraditionally associated with financing higher education.But,according topanelists at a National Association of College and University Business Officers  \nConference-  \nReport  \nincome,and tuition increases have reached about as far as they can go,saidArkansas College President Dan West.  \nHigher education crys out for bold innovation,West said.\"We are at a junc-ture where we must think seriously about supplementing our traditional sourcesof income with additional sources,\"he added.  \nWest and attorney Michael Goldstein kicked off NACUBO's two-day innovativefinancing conference.Goldstein,whose firm acts as special counsel to manyhigher education institutions,admitted that many barriers exist to the devel-opment of new financing methods.  \nColleges must assess their assets and their needs,and work out a strategy of\"how to get from here to there,\"Goldstein said.Such a strategy might causethe institution to \"rethink the concept of the college and university as a not-for-profit entity.\"  \n\"We are not suggesting that we all become shopping mall developers that providehigher education as a sideline,\"Goldstein said,adding that institutions mustcarefully study their needs and options.  \nCreation of an \"entrepreneurial team\"is key to the development of new financ-ing methods,according to Goldstein.The team,made up of the institution'sboard of trustees,chief financial officer and president,must understand thegoals,strategies and steps of each new idea.  \nInstitutions,Goldstein said,must also work closely with their business part-ners in the private sector making them understand the slow,deliberative dec1-  \nsion-making process that takes place on a college campus.  \n(NACUBO)conference yesterday,these are hardlytraditional times.  \nFederal and state revenue sources have leveledoff,there is heightened competition for gift  \nOften those options will be risky,Goldstein said.An entrepreneurial teammust assess that risk and determine how much is reasonable。\"This is where oneseparates the adults from the adolescents,\"he added.\"There is no free lunch.\"  \n(more)  \nMarch 26,1985  \n# COLLEGE FINANCING IN THE 1980s:MINING,MEDICINE AND MOTELS(Cont.)\n\nNew funding ventures do not“soil”the academic community,Goldstein empha-sized.They will simply be used to fund the“educational needs of the insti-tution,\"he said.  \nWest said the need for innovative financing methods is growing rapidly.  Forexample,economic trends have become almost impossible to predict.Moreover,the Reagan administration has proposed cuts in federal support for higher edu-cation.Finally,there has been a reduction in the number of students gradu-ating from high school.  \n\"My mission …has been to scare the hell out of you,\"West said.\"We can'tdepend continually on the traditional sources of income.\"  \nWest listed several examples of new financing methods currently in use on somecollege campuses:  \n■ In-kind contributions,where colleges accept non-monetary contributions suchas equipment or services.  \n■Land development,where colleges sell or lease land.In addition,collegeshave become involved in speculative housing,shopping centers and office build-ing development.  \n■ Commercial enterprises,where colleges generate revenue through institution-owned tourist attractions,travel agencies,power plants and televisionstations.  \nMany of these ideas are not new,both speakers emphasized.For example,Columbia University has been leasing and selling its New York City land hold-ings for decades.Few institutions,however,have taken complete advantage ofsuch methods.And,\"There is no reason why we cannot exploit this type ofrevenue,\"West ","cbCaitAJiAelO3vS","https://ap.wps.com/l/cbCaitAJiAelO3vS","pdf",1795226,"English","# COLLEGE FINANCING IN THE 1980s: MINING, MEDICINE AND MOTELS\n## Innovative financing needs and barriers\n## Entrepreneurial team and private-sector partnerships\n## New financing methods in use","[{\"question\":\"Why did colleges seek innovative financing methods in the 1980s?\",\"answer\":\"Income and tuition increases had reached about their limit, and federal and state revenue sources had leveled off amid growing pressures and uncertainty.\"},{\"question\":\"What role does an “entrepreneurial team” play in new financing?\",\"answer\":\"It coordinates goals, strategies, and steps for each idea, typically involving the board of trustees, the chief financial officer, and the president.\"},{\"question\":\"What examples of new financing methods were listed for college campuses?\",\"answer\":\"Examples include in-kind contributions, land development, and commercial enterprises such as tourist attractions, travel agencies, power plants, and television stations.\"}]","College Financing in the 1980s - Mining, Medicine and Motels | PDF",1790607813,18]