- The University of Connecticut, despite being a public institution, is able to use private entities to keep some of the financial information regarding its athletic fundraising under wraps.
- Its latest major sponsor is Webster Bank, who signed on this summer and plan to help build a new basketball training center, though it remains unclear how much the bank is spending and what they get in return for the investment.
- Though many universities use private tax-exempt foundations to raise money, Connecticut is separated by the fact that the state legislature passed a measure 10 years ago exempting the University of Connecticut Foundation from the state's freedom of information laws, and the school now says it doesn't have to release marketing deal details because it isn't a party to the contracts.
From the article:
Webster Bank signed on this summer to become a major sponsor of University of Connecticut athletics and help build a new basketball training center, but UConn has refused to say how much the bank is spending or what exactly it will get in return for its millions. Though it is a public institution, UConn keeps some of the financial information about its athletic fundraising secret by using private entities. ...