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Knapp's Salary Disclosed THE NEXT FOUR YEARS PAGE A4 JON STEWART PAGE A6 Advice for incoming freshmen Comedian will return for Colonials Weekend SUMMER The GW 2009 ALWAYS ONLINE: WWW.GWHATCHET.COM Vol. 106 • Iss. 3 AN INDEPENDENTHatchet STUDENT NEWSPAPER - SERVING THE GW COMMUNITY SINCE 1904 Knapp's CIGUIDE09 More submit salary Welcome Home! freshman disclosed deposits by Emily Cahn by Matt Rist Campus News Editor Hatchet Staff Writer University President Steven Knapp Despite being one of the most ex- earned $298,178 during the first five pensive schools in the country during months of his tenure at GW, according an economic downturn, the Univer- to a University financial disclosure re- sity’s yield rate increased by 2 percent port released in May. this year. At an average of just under $60,000 Initial admissions figures for the per month, Knapp’s five-month pay- incoming class show the yield rate – ment would equate to an annual salary which is the percentage of accepted of around $715,000, not including bene- students who choose to enroll and de- fits. The financial disclosure form, called posit at the University – at about 36 a form 990, also showed that President percent, up about 2 percent from last Emeritus Stephen Joel Trachtenberg re- year. GW admitted about 7,290 stu- ceived nearly $3.6 million plus benefits dents, about 100 more than last year, in 2007. said Kathryn Napper, executive dean Though the University’s most recent for undergraduate admissions. form 990 is for the While the high yield rate could 2008 fiscal year – complicate housing arrangements which runs from and increase class sizes, Senior Vice July 1, 2007 to June President for Student and Academic 30, 2008 – salaries Support Services for University of- Robert Chernak ficers are reported said having a NumberCrunch on a calendar year higher yield rate The University admit- basis. The form re- was good news. ted about 7,290 new leased in May has Though there students this year. Of figures for the 2007 was an increase in those... calendar year. Steven Knapp the overall num- Russell Ramsey, ber of applica- chairman of the Board of Trustees, said tions this year to 36% recruiting and retaining talented leader- 19,500, up about made their ship like Knapp, who previously served 200 from last year, as the provost for John Hopkins Univer- Chernak said ad- deposits sity, is expensive. ministrators had “Our goal is to hire and retain the planned for the highest caliber of executive leadership percentage of ac- 62% for the growth and success of the Uni- cepted students will receive versity, while ensuring that our compen- who send in a financial aid sation levels are appropriate and com- deposit to fall by petitive,” Ramsey said in an e-mail. “We about 1 or 2 per- obtain and rely on appropriate compa- centage points this year. rability data from peer institutions, to “You could say we erred in judg- assess the president’s compensation. ment by about 2 to 3 percent, but you President Knapp’s leadership, commit- never want to come in under budget,” ment to GW and three decades of higher Chernak said. “We estimated a bit too education experience are critical to the conservatively, but it says that GW is success of the University.” still popular.” While the $715,000 figure is only an Amidst this year’s economic uncer- estimate based on his five-month pay- tainty, the Board of Trustees approved ment, Paul Sain, a senior reporter who a $13 million increase in the financial specializes in university presidential aid budget in February, bringing the compensation for the Chronicle of High- total budget to $133 million, up more er Education, said he is not surprised by than 10 percent from last year. Knapp’s salary. Daniel Small, executive director of “If you want to hire someone, like financial aid, said his office has seen a the provost at a place like Johns Hop- 10 percent increase in the number of kins, you’ve got to pay to get him,” Sain freshman financial aid applications said. and has worked with staff to handle While serving at Johns Hopkins, an increase in inquiries from parents Knapp earned a reported $460,172 be- and students with financial concerns. fore benefits, according to the universi- “We started to realize that people’s Anne Wernikoff/assistant photo editor ty’s form 990 from the 2007 fiscal year. investments weren’t going to be as Knapp, however, said comparing the strong as in the past and people’s abil- final salary reported from his last year as ity to access home equity loans would provost at Johns Hopkins to his salary From parties to politics, everything you need to know be less than in the past,” Small said. as president of GW is not completely “Though people had invested over feasible, as part of his salary at Hopkins the years and done the right things, includes deferred compensation. De- to start your new life in the District the funds weren’t there when they ferred compensation is the part of his needed it.” salary that was paid after it was actually WHERE WILL YOU LIVE? WHAT WILL YOU DO? Small also said that since more of earned, Sain explained. the class of 2013 demonstrated finan- Knapp said he did not choose to take Take a peak at each of GW's Twenty-six things to keep you cial need, as much as 62 percent of the the job at GW for the salary. class will receive assistance, almost 4 “The answer is that I was excited about freshman residence halls. entertained on and off campus. percent more than previous years. the terrific opportunities for education, Page B1 Page B3 Although the percentage of students See SALARY p. A7 See ADMISSIONS, p. A9 Local grocery store will undergo makeover Kris Hart, a former Student As- out areas as “FoBoGro,” “FoBo on hopes to partner with the commu- "FoBoGro" will sociation president who graduated the Go,” and “FoBo Grub,” respec- nity, Greek-letter organizations and in 2005, signed a lease with the Uni- tively. Hart said the store will have a other student organizations to pro- versity, which owns the building, on Web site where customers can order vide discounts and hold barbecues, have pizza, beer Wednesday. Devlin Keating, a 2006 groceries or takeout food for pick-up parties and tailgates. The team also School of Business graduate, and and delivery. wants the store to be staffed and and sandwiches current junior Daniel Blake will help Though the new owners have not run by GW students, something manage the business. Hart would yet decided on a final menu, Keat- Hart said will provide jobs and by Gabrielle Bluestone not specify what the team is paying ing said the first floor will provide give students in the School of Busi- Metro News Editor for the lease, but said the three plan sandwiches and pizza. The team is ness real-world management expe- to invest several hundred thousand working with food consultants to rience. Drastic change is coming to a dollars into renovating the purple maximize the small kitchen space, Hart, who also owns Relaxed Day neighborhood grocery store located building. and the menu will depend on the Spa, a tanning salon and spa near the on the southwest edge of campus. “We’re doing an enormous equipment they can fit in the space, corner of 21st and F streets, said he A pair of GW graduates and one amount of renovations. We’re really Keating said. first considered taking over the gro- current junior plan to drastically re- gutting it and putting in a whole new The men said pricing will be cery store in November 2007 when vamp the Foggy Bottom Grocery store, façade,” Hart said. The F Street mu- competitive with other food options Meseret Bekele, the former owner of located near the corner of 22nd and F ral, located on the side of the grocery in the area. the store, approached him. streets. The trio said they will reno- store and painted by a GW graduate, “We’d really like to try to keep it “She’d been there almost 20 years vate the three-story townhouse to cre- will not be affected by the construc- down, because I understand students and she was ready to move on to an- Anne Wernikoff/assistant photo editor ate a takeout and delivery sandwich Junior Daniel Blake, class of 2005 graduate tion. don’t want to be spending $10 on a other project, and so we started talk- and pizza shop on the first floor, and The new Foggy Bottom Grocery sandwich,” Hart said. “But the most ing,” Hart said. “We approached GW Kris Hart, and class of 2006 graduate Devlin install a grocery store with a diverse will also have a different moniker. important thing right now is qual- with a 60-page business plan and we Keating are about to begin renovations on the beer and wine selection on the second New branding will refer to the gro- ity.” Foggy Bottom Grocery. and third floors of the building. cery store, delivery service, and take- In addition to the store, Hart See GROCERY, p. A9 The GW Hatchet | Summer 2009 H WWW.GWHATCHET.COM Page 2 n Newsroom: President of South Korea to visit campus Gabrielle Bluestone – Metro News Editor ([email protected]) n Newsroom: Alum to be Michelle Obama’s chief of staff Emily Cahn – Campus News Editor ([email protected]) Amanda Dick – Campus News Editor ([email protected]) n Web Extra: Ad Club places 5th in nation >> Lauren Hoenemeyer – Assistant News Editor ([email protected]) CAMPUS D.C.
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