MADISON – UW Foundation fees could explain medical school fund’s low value

A public fund at UW School of Medicine and Public Health is worth $47 million less than a similar fund at Medical College of Wisconsin, largely because UW Foundation has taken some $40 million out of the fund in extra management fees, critics say.

“It’s a pretty stark indication that somebody should be kicking and screaming about what the foundation is charging,” said Joe Leean, who sits on a board overseeing both medical school funds, created by the state in 2000 with more than $600 million from when Blue Cross and Blue Shield United of Wisconsin became a for-profit company.

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