Anderson gets $117,555 payout; will donate for scholarships
By Denise Dick
Former Youngstown State University President Cynthia E. Anderson’s severance package from the university is $117,555, and she says that will go toward student scholarships.
Anderson, who retired June 30 after three years as president and 34 years with the university, received $76,924 in unused sick time and $40,631 in unused vaca- tion time, according to Ron Cole, university spokesman.
“For the most part, that will go into my mom and dad’s scholarship fund,” Anderson said.
She said she has to speak to an accountant and likely won’t be able to put all of the money into the scholarship fund at the same time because of the tax implications.
Before assuming the presidency in 2010, Anderson donated $100,000 to fund scholarships for YSU students in memory of her parents. Anderson established the Lawrence R. and Garnet P. Anderson Scholarship Fund after her father’s death in September 2000. Her mother died in 1991.
“I’ve always given my mother and father credit for where I am today — for the success I’ve been able to have — and they were very big on education,” Anderson said. “It wasn’t a matter of if I was going to college, but where I was going to college and what I would study. ... I just thought this would be a good way to honor my mother and father’s memory.”
Dr. Sudershan Garg, chairman of the YSU trustees, didn’t know details of Anderson’s payout but said, “If that’s what she’s entitled to, she deserves it.”
He said Anderson has given a lot of money to YSU.
“I don’t think she will forget the university,” Garg said.
David Sweet, who preceded Anderson in the president’s seat, received a $98,235 severance package — $60,276 in unused sick time and $37,959 in unused vacation — upon his 2010 retirement, Cole said. Sweet served as president for 10 years.