I’ve worked for people exactly like Jane Sanders. Petty autocrats who think they can get away with anything. It’s pretty hard for a single person to fuck up a college that badly (and I understand there were serious problems before she came on board), but she really torpedoed that place quick. It’s not her fault the college was tiny and had no endowment — it IS her fault that she thought a tiny college with no endowment would be able to carry a $10 million dollar loan. I’ve seen at least one other college do the exact thing she did — count future bequests as money already in the bank — but that gets more and more dangerous with any student enrollment under 650.
Those financial records have since been destroyed, btw, after reassurances that they would be returned.