Section A Posted April 23, 2009 Share Posted April 23, 2009 Sports fans need to read the front page of the paper too. Today's article lists some interesting facts about Athletic compensation. See end of article. ORU's financial picture grows brighter, tax form says It reports a gain of $56 million. By SHANNON MUCHMORE World Staff Writer Published: 4/23/2009 2:27 AM Last Modified: 4/23/2009 4:10 AM Oral Roberts University gained about $56 million in net assets from May 2007 to May 2008, its federal tax form shows. The form, which nonprofit organizations must file with the Internal Revenue Service each year, says ORU had $152 million in revenue and $96 million in expenditures. The Oral Roberts Evangelical Association paid former ORU President Richard Roberts and his wife, Lindsay Roberts, $119,000 and $68,000, respectively, in salary and expenses. Traco Advertising, a for-profit subsidiary of the evangelical association, paid them more than $100,000 each, the form shows. ORU's financial dealings came under scrutiny last year as it launched a campaign to pay more than $55 million in debt. The deficit came to light as ORU suffered scandal and lawsuits alleging that the Robertses misspent university money on lavish living. Richard Roberts resigned in November 2007, and the evangelical association became a separate institution the next month. Richard Roberts is its CEO. ORU spokesman Jeremy Burton said, "This process, which addressed governance, operational and financial issues, was concluded with the physical relocation of OREA at the end of May 2008." The evangelical association was founded in 1949. The Robertses host a daily, syndicated television show. ORU has agreed to pay Richard Roberts about $440,000 to honor the rest of his three-year contract with the university. ORU laid off 53 employees and eliminated 40 vacant positions at the start of this year. Mark Rutland, who will become ORU's next president in July, said last week that ORU would be out of debt "very soon." The IRS form shows total liabilities and net assets to be $190 million as of May 2008, a gain of about $30 million from May 2007. ORU spent nearly $17 million on scholarships and student fellowships during that period, and it lost more than $3 million in rental agreements, the form shows. Program costs totaled nearly $61 million, with most of the money spent on student services, followed by auxiliary enterprises and instruction costs. About $200,000 was spent on research. Salaries of directors and key employees totaled more than $2 million. The highest-paid employee was the men's basketball coach, Scott Sutton, who received about $380,000. Athletic Director Mike Carter, who received about $300,000, led the directors in salary totals. The only compensation listed for Oral Roberts, the university's founder, was $147 for expenses. Quote Link to comment Share on other sites More sharing options...
Old Titan Posted April 23, 2009 Share Posted April 23, 2009 Worth every penny, if you ask me. BTW, Section A, what makes you think you're the only one who reads the front page? Quote Link to comment Share on other sites More sharing options...
ORUTerry Posted April 23, 2009 Share Posted April 23, 2009 When is the Tulsa World going to stop this treatment of ORU? I get the feeling that they are miffed that ORU has surived/thrived. Quote Link to comment Share on other sites More sharing options...
ORUIsbig Posted April 23, 2009 Share Posted April 23, 2009 OT to answer your question, i am always suprised that anybody reads the TW. Is this right? 2,000,000 in primary salaries? That means administration, right? Not Faculty? I hope that's what they mean Because i would wonder about nearly 1/3 of all salaries at a university went to the head coach and AD. Even though they are both worth every penny. Quote Link to comment Share on other sites More sharing options...
Dr. Cornelius Posted April 23, 2009 Share Posted April 23, 2009 Sports fans need to read the front page of the paper too. Today's article lists some interesting facts about Athletic compensation. See end of article. When the Tulsa World prints something worth reading I may glance at it. Their "newspaper" mostly consists of staff and wire reports. I can find real news online and in most cases (sadly) better local news on blogs. Quote Link to comment Share on other sites More sharing options...
SOLO_Gold Posted April 23, 2009 Share Posted April 23, 2009 I read the Tulsa World every morning, along with my dose of CNN, and the NY Times. (and sometimes the Drudge Report, if I need a good laugh) I've found that the TW has recently been giving us more than a fair shake. Also, they've done a good job cleaning up the nasty comments people were writing underneath news stories. (at least I think they've done that, as most of the comments I've seen recently have been positive.) Being relatively new to Tulsa (5 years) and coming from an area dominated by the Houston Chronicle, I have a lot of respect with how they do business. Bravo TW. Quote Link to comment Share on other sites More sharing options...
ORUJason Posted April 23, 2009 Share Posted April 23, 2009 I've seen several articles written by Shannon Muchmore which cast even positive news in a negative light. This story is no different. She has picked out a handful of pieces of information which will cause a certain segment of TW readers to see ORU in a negative light. This same article could be written from the vantage point that it is amazing that ORU is nearly out of debt and what a transformation has occurred over the last year. Instead, she picks and chooses information which could ruffle some feathers. The reality is that when you have good employees and you don't want to lose them you have to pay them well. The sports writers however have been very favorable toward ORU. Quote Link to comment Share on other sites More sharing options...
Old Titan Posted April 23, 2009 Share Posted April 23, 2009 I honestly didn't find that much wrong with this article. Reading between the lines, I think it's intended as validation of ORU's new "transparent" accounting principles. It also confirms the school's recent claims of massive debt reduction. And, it shows that Richard and Lindsay are getting nothing more than promised in their severance deals, and that nothing is being funneled through Chancellor Oral Roberts, either. Would have to agree that having their incomes publicized may make things awkward internally for Coach Sutton and Mike Carter in dealing with budget issues, but that "is what it is". What would have been really bad was for their incomes to be printed alongside a dangerously lopsided balance sheet... Quote Link to comment Share on other sites More sharing options...
darrenj Posted April 23, 2009 Share Posted April 23, 2009 I find it amazing that Scott has stayed when offered around twice as much to go to either Wichita St. or TCU and has remained loyal to ORU. You don't see that much in college athletics anymore. Quote Link to comment Share on other sites More sharing options...
Old Titan Posted April 24, 2009 Share Posted April 24, 2009 I find it amazing that Scott has stayed when offered around twice as much to go to either Wichita St. or TCU and has remained loyal to ORU. You don't see that much in college athletics anymore. I'm not so sure Scott was offered "twice as much" for the TCU job - wasn't it more like $500,000? Quote Link to comment Share on other sites More sharing options...
theeagleman5 Posted April 24, 2009 Share Posted April 24, 2009 Geez....turning down about a $125,000+ raise.....Coach Sutton must really feel comfortable at ORU....frankly, TheEagleman cannot blame him....Scott probably has a job here as long as he wants it.....he's a good man and perfect for us.... Quote Link to comment Share on other sites More sharing options...
Old Titan Posted April 24, 2009 Share Posted April 24, 2009 Geez....turning down about a $125,000+ raise.....Coach Sutton must really feel comfortable at ORU....frankly, TheEagleman cannot blame him....Scott probably has a job here as long as he wants it.....he's a good man and perfect for us.... TCU's a graveyard for basketball coaches, same as SMU. Ask Billy Tubbs - he was a success at TCU and the job still sucked. Quote Link to comment Share on other sites More sharing options...
Bogus Smith Posted April 24, 2009 Share Posted April 24, 2009 TCU's a graveyard for basketball coaches, same as SMU. Ask Billy Tubbs - he was a success at TCU and the job still sucked. Just ask Conley Phipps!! He was Billy Tubbs' assistant at TCU and came to ORU. I'm sure Conley was in Scott's ear every step of the way when TCU was courting him. Quote Link to comment Share on other sites More sharing options...
Cletus Posted April 24, 2009 Share Posted April 24, 2009 This article just shows how proud we need to be as ORU grads! No shame here! Quote Link to comment Share on other sites More sharing options...
OKC Eagle Posted April 24, 2009 Share Posted April 24, 2009 I read the Tulsa World every morning, along with my dose of CNN, and the NY Times. (and sometimes the Drudge Report, if I need a good laugh) I've found that the TW has recently been giving us more than a fair shake. Why am I not surprised that someone who partakes of CNN and NY Times in heavy doses would describe the TW as "fair?" Quote Link to comment Share on other sites More sharing options...
SOLO_Gold Posted April 24, 2009 Share Posted April 24, 2009 Why am I not surprised that someone who partakes of CNN and NY Times in heavy doses would describe the TW as "fair?" Probably for the same reason you feel the need to make such a callow remark. No? Which newspapers do you read OKC Eagle? "Um, all of them"? Quote Link to comment Share on other sites More sharing options...
tmh8286 Posted April 24, 2009 Share Posted April 24, 2009 Few things elicit stronger emotions than politics, and at the present time our country is as politically polarized as it's probably been since the Civil War. Since both sides of that debate are well represented on the board, but we're all after the same thing in terms of the original purpose of the board, and that's the continued success of ORU athletics, I would request that we all refrain from political debate here, and keep things focused on ORU related topics. Thanks, guys! Quote Link to comment Share on other sites More sharing options...
wakeflip1 Posted April 24, 2009 Share Posted April 24, 2009 This could be old news but has anyone heard about the new 4 for 1 contribution the trustee's are doing. It was announced today in chapel. Basically if you give $25, ORU's Trustee's will then give $75, which means ORU would receive $100. Wow, does that make you want to give or what. Quote Link to comment Share on other sites More sharing options...
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