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SCAD
forms
for-profit group By Bruce Chong The Savannah College of Art and Design announced today the formation of SCAD Group Inc., a for-profit subsidiary owned by SCAD that will provide nonacademic services to the college and a structure that will enable the college to consider new opportunities for expansion of programs in Savannah and elsewhere. SCAD Group Inc. is expected eventually to have a significant role in helping build an endowment for the college. The SCAD board continues to oversee SCAD, and SCAD oversees SCAD Group Inc. The creation of the subsidiary does not affect the college’s accreditation or its nonprofit status and SCAD retains ownership of all buildings, physical property and equipment. SCAD continues to provide all academic programs, public service programs, athletic programs, cultural events, gallery exhibitions and performances. Academic administration and faculty, as well as external affairs and institutional advancement departments, remain with SCAD. Through a contractual relationship, SCAD Group Inc. will perform nonacademic functions for the college, including recruitment of staff, faculty and students; communications; business and financial services; information management and technology; facilities support services and other student services. All jobs, salaries and benefits for positions with both SCAD and SCAD Group Inc. remain in place. The organizational change creates a structure to help finance and fund projected growth of the college. As a for-profit company, SCAD Group Inc. eventually would be able to sell services to raise funds for new programs and initiatives, including possibly producing marketing materials for other schools, and expanding into new areas such as the SCAD campus in Lacoste, France, which the college has successfully owned and operated for two years. SCAD Group Inc. is owned by the Savannah College of Art and Design. The board has appointed SCAD founder and President Paula S. Wallace to serve as president for both SCAD and SCAD Group Inc. “ We are in a strong financial position and have experienced 25 years of phenomenal growth and success,” said Wallace. “As we celebrate our 25th anniversary, we are looking to the next 25 years and beyond. The creation of SCAD Group Inc. enables the college to maintain high academic standards and remain focused on our mission of preparing students for careers and continue to grow by funding strategic initiatives.” Wallace stated SCAD Group Inc. will contribute toward the college’s endowment and will fund a number of long-term strategic initiatives SCAD plans to implement over the next five years, including: • New undergraduate and graduate degree programs in advertising design • Additional resources for the Jen Library • Additional scholarships for enrolled students • Increase in faculty to keep average class size small (less than 20 students per class) • Continued enhancement of benefits to attract and retain qualified faculty and staff • Renovations for completion of a student center • Renovations for additional academic facilities • Continual technology upgrades, including expansion of the college’s network and purchase of 3,000 computers and accompanying software • Enhancement of community programming to provide lectures, gallery exhibitions and other cultural events open to the public. Embracing sound and successful business practices, several other top colleges and universities across the country have created for-profit entities to supplement their traditional sources of revenue. For example, Duke University created an affiliate that purchased and operates a hotel for visitors and family members coming to its medical center for treatment. Cornell and Columbia also have for-profit affiliates whose operations help support the universities. “ This is an innovative, yet economically prudent, model for the college,” said Paul Bradley, Ph.D., second vice chairman of the SCAD Board of Trustees and a member of the strategic planning committee appointed to research and advise the board on forming the subsidiary. “The college has studied this initiative carefully over the past 14 months and has worked with several consultants to ensure that we will achieve our goal of securing the future of the college.” Chong is dean of communications. |
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