Two former top finance officers at the New College Foundation say they were ousted in 2023 after pushing back against college administrators who sought to use donor-restricted funds to cover President Richard Corcoran’s salary and benefits — a move they said would violate the terms of the donations.

Ron McDonough, the foundation’s former director of finance, and Declan Sheehy, former director of philanthropy, said they warned administrators not to misuse a major gift — the largest donation in the school’s history — which they said was not intended to fund administrative salaries.

Both said their contracts were terminated after they raised concerns internally.

“The college was trying to find the money to pay the president,” McDonough said. “And I kept on going back, saying, ‘We don’t hav

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