We can show by rising tuition prices the money's going "somewhere". And given administrations stratospheric rise, I'd say it's a safe claim to start looking at the university presidents, the long list of VP's of $stuff, assistant VP's of $more_stuff, the piles of directors... And the list goes on.
And I can damn near guarantee that the "433 students tuition" will instead be spent on "Philanthropy" via constructing more buildings. I'm seeing it right now in my town, with skyrocketing rents everywhere, gentrification, and school pricing run amok (wife is trying to get in grad school).