Now there's one less reason to shell out $, and lose your copyright on all uploaded/posted files--yes, even your syllabus--to a company that practices predatory patent litigation, like BlackBoard:
DrupalEd is based on the open source social networking/content creation software platform Drupal, which is easy to install/configure (I've done it myself over the course of a few hours earlier this week).
To see what DrupalEd looks like, just head over to the site (linked to above). Sign on, and nose around a bit. Then talk to your university's IT department, and tell them you know how to save the university 10s of thousands of dollars a year...
Then maybe they can swing a raise for you.