Estate of Denial: “UCLA occupies an esteemed position in the world of higher education and has many generous supporters. In fact, on March 16, 2012, a Chronicle of Higher Education headline trumpeted their fundraising prowess — In Education: UCLA Endowment Is Fastest-Growing Among Major U.S. Schools — and on March 15, 2012, Bloomberg reported:
‘The University of California, Los Angeles endowment has grown the fastest among U.S. colleges since 2008 as markets recovered and gifts from philanthropists such as casino mogul Kirk Kerkorian surged.'
Well, Mr. Kerkorian and other donors, beware: once you’re gone, UCLA might just overturn the terms of your bequest if they deem such a move in their financial interests, despite having legally agreed to abide by your wishes and intent. That’s happening right now in the case of the Edward Carter bequest. And, he wasn’t just any donor — he was once chairman of the Board of Regents, and a Regent for 36 years.”