iCal erases my entry and puts New Event

I am attempting to enter school calendar information into my iCal one event at a time. When I complete the event entry, I move on to the next entry. When I look back at the event that I previously entered, it says "New Event" and seems to have erased all of the information I entered (time, place, repeats, etc.). I can get the entries to stay if I enter them a second time, but the first time I try an entry, it always (within seconds of exiting) reverts back to the generic "New Event."

I really don't want to enter calendar items twice! Solutions??