Osu! Cuts Funding To Innovation Foundation

New OSU president says university is cutting off funding for the OSU Innovation Foundation
Oklahoma State University's new president says the school is cutting off funds for its Innovation Foundation, which is central to a scathing audit.
OSU interim president addresses audit, discontinues funding for The Innovation Foundation
The Oklahoma State University Interim President addressed the recent audit that found issues in the management and allocation of state funds at OSU.
OSU discontinues funding of foundation whose audit led to Shrum resignation
In an email to faculty and staff, Interim President Jim Hess said funding has been "discontinued" for "The Innovation Foundation at OSU and the shared services and facilities positions within it. This decision was necessary as the financial structure of The Innovation Foundation is simply not sustainable."
What is The Innovation Foundation, and why are they at the center of an OSU audit?
The Innovation Foundation, Inc., formerly known as the Oklahoma State University Research Foundation, is at the center of a recently released audit detailing financial mismanagement at Oklahoma State University (OSU).
Oklahoma State University cuts funding to The Innovation Foundation after audit showed mismanagement
Oklahoma State University officials have decided to discontinue funding for The Innovation Foundation after an audit showed that the university mismanaged $41 million.
Shrum's departure coincided with OSU audit of Innovation Foundation
An internal audit of the OSU Innovation Foundation says the handling of $41 million in state appropriations did not conform with state law and university and state regents' policy.
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Jennifer Callahan, an Oklahoma City attorney with a background in nonprofit and corporate governance, said she did not like the way the Innovation Foundation operated.