Brandeis University, the private Massachusetts institution reeling from economic woes, has brought in Rasky Baerlein Strategic Communications in Boston amid criticism and scrutiny during the crisis.
The university drew national attention when it closed its art museum and announced plans to auction off part of its $350M inventory.
The university’s president issued a statement on Feb. 5, a few days after RB was hired, apologizing for not explaining the fiscal situation better and not engaging the “Brandeis community” in the deliberations that led to the board’s decision about the museum. He quoted President Barack Obama’s “I screwed up” mea culpa.
The Boston Globe reported that many benefactors of the 61-year-old school lost fortunes in the Bernie Madoff scheme and the global economic crisis has whittled its endowment down to $549M from $712M.
The Globe noted that state law restricts non-profits from drawing on the principal of their endowments, which hurts “younger” institutions like Brandeis. |