East Tennessee State University’s Foundation CEO is stepping down from his post effective July 1 to become a full-time professor, he confirmed Thursday.
Richard A. Manahan, vice president for university advancement and president and CEO of the ETSU Foundation, said he would teach courses in the College of Business and Technology beginning this fall.
“Basically, I just felt that this was a good time for me to go to teaching,” he said in an interview Thursday. “It’s something that been I’ve wanted to do for quite some time and I’m very excited about it.”
Manahan has full professorships in accountancy and leadership and policy analysis. His tenured position is in accountancy.
Manahan came to ETSU in 1981 as vice president for finance and administration, but he also was responsible for the Foundation’s finances. At that time the Foundation had a negative fund balance of $250,000. Currently, the fund balance is at more than $108 million.
“That’s a lot of hard work by a lot of people within the Foundation and donors and significant givers that have a commitment to East Tennessee State University, particularly as it relates to scholarships and student needs,” he said.
The first few years he was at ETSU, Manahan spent a lot of time in Nashville creating a five-year plan to put the Foundation in solid financial shape.
“And we did that, and we’ve had tremendous success ever since,” he said.
In 1984, the Foundation and fundraising operations began reporting directly to Manahan. Ten years later he became head of the Foundation and university advancement. During his tenure, around $350 million has been raised for ETSU, Manahan said.
“That’s not a result of me just raising,” he said. “That’s a result of a good system being put in place and a lot of hardworking Foundation members supporting our institution.”
Manahan said ETSU has been good to him and his family.
And I think it’s an outstanding university,” he said. “I’m looking forward to continuing to be a full-time professor in the university itself.”
Among Manahan’s accomplishments are a bachelor’s degree, a master’s degree in business administration and a doctoral degree awarded from Illinois State University. Manahan has been inducted into his alma mater’s halls of fame in its colleges of business and education and received that school’s Distinguished Alumni Award. He was honorably discharged from the Army in 1963.
Manahan is currently serving his fourth term on the Johnson City Board of Education.
He was among the candidates who interviewed for the ETSU presidency in 2011.
Manahan’s salary, according to the Tennessee Board of Regents online database, was $182,450.
Manahan said he would be available during the interim period to assist with the transition of leadership.
According to a university spokesman, an interim replacement for Manahan could be announced soon.
Directly under Manahan in university advancement is Jeff Anderson, associate vice president for university advancement.