So the university doesn't contribute anything to paying for his yacht? Is he also working for free as a member of the Board of Trustees? If not, then the university and taxpayers are paying for his yacht.
The compensation for these boards is relatively modest. You are part of the 1 per cent before you get appointed. He would have a yacht regardless of this position.
How have you determined that the school and taxpayers are paying for the yacht? Could you please explain it in detail?