Just saw this article about Michael Joseph, who had been Vice President for Enrollment Management at Valpo, now taking a similar spot at a school called Columbia College Chicago.
Is would seem a lateral move at best. Why the change? I always wondered about his selection to begin with as he is a Catholic, having come from Detroit Mercy, trying to attract among others, Lutheran kids. Wonder whose next? Are there disappointing numbers? ???
http://www.columbiachronicle.com/campus/article_c4d0c2e4-9511-11e8-915f-972daa018cdf.html
While I have no idea why someone's religion would be an issue in them taking that position at Valpo, Columbia College is a major step down from Valpo (though that does not mean that Columbia might offer a lot of money for someone). Columbia is best known for film, media studies, etc. and has some credibility in those fields, otherwise it would be among the weakest schools that you could find.
Quote from: vu84v2 on August 01, 2018, 01:09:15 PM
While I have no idea why someone's religion would be an issue in them taking that position at Valpo, Columbia College is a major step down from Valpo (though that does not mean that Columbia might offer a lot of money for someone). Columbia is best known for film, media studies, etc. and has some credibility in those fields, otherwise it would be among the weakest schools that you could find.
[/quote)
Let me clarify statement. If, and it still is, one of our objectives is to keep Valpo a Lutheran institution, then attracting Lutheran students should remain a top objective. I simply believe that a person with a history in Lutheranism as in knowing something about Lutheran High Schools and Lutheran college competition, might be a useful tool in properly allocating recruiting dollars etc. He was at one time Acting President of Detroit Mercy and is a practicing Roman Catholic who spent much of his professional career working for Catholic institutions.
Your point on Columbia being a step down, supports my question. Was his performance in question so a parting of the ways was in order or did he suddenly decide that a film school with an enrollment decline of 10% last year would be next next best move in his career.
I don't know if his performance was in question but he came in when we were looking to increase our enrollments and standards and I believe has effectively done that. I think we've seen records in undergrad enrollment multiple times over the last few years and even our lower years have been better than before. Maybe he was recruited because they had that decline in enrollment and was offered more money or an opportunity to prove that he could do that at a struggling school which would improve his reputation. Sometimes lateral moves are about specific opportunities vs prestige of the university or pay
There are some more administrative restructuring changes on the way with this new semester apparently meant to help streamline decision-making.
Quote from: valpopal on August 01, 2018, 04:24:40 PM
There are some more administrative restructuring changes on the way with this new semester apparently meant to help streamline decision-making.
Do you believe that these will be positive or negative moves for the university?
Quote from: VUGrad1314 on August 01, 2018, 09:33:51 PM
Quote from: valpopal on August 01, 2018, 04:24:40 PM
There are some more administrative restructuring changes on the way with this new semester apparently meant to help streamline decision-making.
Do you believe that these will be positive or negative moves for the university?
If everything works as planned, the additional staffing changes could be very positive since there will be more focused and limited responsibilities for those in administration. I believe the hope is that will result in more rapid and more ambitious moves toward achieving future goals, including greater outreach and the quicker completion of the current campaign for endowment funding. There will be significantly increased business and finance management. I think the recent announcement by the Athletics Department about hiring of representation services for corporate sponsorships and multimedia rights might be seen as a precursor.
Is it still our long-term goal to get to 6,000 students?
I believe so but I think the demographic challenges may make it more difficult than when first proposed. As far as the restructuring I believe it will be good to allow more decision making to occur at a lower level and leave the bigger picture things for the upper administration. I know the President really wants to focus his energy on big picture plans and endowment focused activities.
Valpo's tendency to be too slow and cautious has led to them not adopting pretty standard practices as quickly as they should. We have seen it in athletics but it also means we are not using pretty standard tools in things like admissions and retention areas. Hopefully we will see a change as while our adherence to tradition is good from a culture of valpo perspective it seems silly to extend that to basic administration functioning
Quote from: crusader05 on August 02, 2018, 07:15:16 AM
I believe so but I think the demographic challenges may make it more difficult than when first proposed. As far as the restructuring I believe it will be good to allow more decision making to occur at a lower level and leave the bigger picture things for the upper administration. I know the President really wants to focus his energy on big picture plans and endowment focused activities.
Valpo's tendency to be too slow and cautious has led to them not adopting pretty standard practices as quickly as they should. We have seen it in athletics but it also means we are not using pretty standard tools in things like admissions and retention areas. Hopefully we will see a change as while our adherence to tradition is good from a culture of valpo perspective it seems silly to extend that to basic administration functioning
Can you elaborate on the demographic challenges you reference? I live in the Chicago market and that interests me.
The demographic challenges relate to the fact that the midwest is losing population so there are not nearly as many high school graduates as there were before. This is also a problem due to the fact that the midwest, like the North East has a TON of colleges. So the pool is shrinking for more regional universities. So this means that we need to both work harder to pull students to us AND will have to work to broaden our reach.
We also are seeing a demographic change in race and ethnicity with the midwest becoming more Latino as the white high school graduate rate is dropping. So basically things are becoming more competitive and the pool is changing. The university is not in a precariously situation like some smaller colleges (like St. Joe's was, where a small hit in enrollment can really put them in difficult financial straits). But is needing to look at more scholarships to compete which means less money coming in for yearly budgets. This is why the endowment campaign is so important. The more we can work to get faculty positions and scholarship money funded through that the less we have to worry about whether our discount rate will effect our yearly budget.
So to sum it up:
1) We are struggling to make progress toward 6,000 students, our stated goal in 2013.
2) We are on pace to take 10 years to raise $250 million, begun with chapel gift was 2011. (Harre raised well over $300 million in his last 10 years.)
3) We have built huge new facilities quickly, but financed large portions of that with debt.
Proof could be found in the historic enrollment numbers that were posted at some point on this board recently by someone (not myself). ML2 pulled up the unvarnished financial statements of the university.
As Luther might ask, "What does this mean?" 10 years of performance since 2008 seems like a nice round number.
As indicated in an article published by the University in 2011 entitled New Strategic Plan primes Valparaiso University for growth, innovation the University's current strategic plan (approved by the BOD Oct. 2010) includes the following key statement about proposed student growth:
Among the detailed proposals advanced in the plan:
• Every student will benefit from a significant cross-cultural learning experience while at Valparaiso University.
• The University's enrollment will increase from 4,100 to 6,000 students, with a significant portion from other nations.
https://www.valpo.edu/news/2011/04/13/new-strategic-plan-primes-valparaiso-university-for-growth-innovation/
That same year (2011) Michael Joseph was brought in as Vice President of Enrollment Management and specifically charged with the responsibility of meeting the university's strategic growth goal. He came from Detroit Mercy, where he had significant experience working with recruiting companies that worked with foreign countries to attract students to attend American colleges and universities.
https://www.valpo.edu/president/leadership/presidents-council/michael-joseph/
The university did experience student growth in Joseph's first 4 years, but enrollment has declined in the past 2.
Highest enrollment in the past 10 years (based on student headcount) was 4099 (3183UG and 916G) in 2015-16. That fell to 3820 (3255 and 565) this past year.
To make matters worse, the foreign cash cow that is the foundation of the university's strategic plan has dried up and according to a NY Times article from January 2018 is not expected to return to its former glory anytime in the foreseeable future.
As Flow of Foreign Students Wanes, U.S. Universities Feel the Sting
https://www-nytimes-com.cdn.ampproject.org/v/s/www.nytimes.com/2018/01/02/us/international-enrollment-drop.amp.html?amp_js_v=0.1&usqp=mq331AQGCAEoATgA
Heckler would know by now what the student enrollment is expected to be this fall. In all likelihood the downward trend of the past 2 school years will continue based on the end of the cash cow and to a lesser extent the impact of demographic changes described by '05. That was probably the final straw for Joseph.
Now, for a short editorial that I'm sure you alums will not like. Your strategic plan is a joke and abject failure, and your President needs to be kicked to the curb. To project a 45% increase in student enrollment at a time when student enrollment is in decline nationwide and build your entire strategic plan around it ranges from irresponsible to incompetent, depending on your point of view. In the meantime, your president and BOD have been spending money like drunken sailors in anticipation of a "magical gold rush boom town" that's never going to happen. This is a textbook case of over promising and under delivering. In fact, someone should develop a Harvard case study and forward it to every MBA program in the country as a glaring example of what never to do, or to explain why you never have an educator sit in a business leader's chair and play boss (any more than 99% of medical doctors are qualified to run a healthcare system).
Quote from: wh on August 02, 2018, 01:12:25 PMHighest enrollment in the past 10 years (based on student headcount) was 4099 (3183UG and 916G) in 2015-16. That fell to 3820 (3255 and 565) this past year.
I see a slight math error. You started from the total not including grad school folks and then deducted the law school. Total enrollment from last fall was 4057 with 802 being in grad schools and law. That left 3255 undergrads which is 338 more undergrads then when Heckler took office. At the same time the law school problems developed. that dropped enrollment by 237 more during the same period and I'm guessing total enrollment will drop again this fall with primary reductions coming from the law school again.
Clearly the enrollment plan isn't/won't work if it remains to grow to 6000. I'm also wondering about the "drunken sailor" spending. We borrowed funds for Beacon Hall and the new science buildings and perhaps other buildings, I'm not sure. With taking Scheel off line we needed a new dorm which was also needed to attract today's students. As for the Science building, again, if we are to not only attract students, but very bright students, it was a requirement. Anybody who studied in Neils during a snowy day can attest to the need for a new structure.
Are we facing challenges? Certainly. Has the leadership team made mistakes and mis-calculations? To be sure. Are we on the right track? I think so.
https://www.valpo.edu/institutional-effectiveness/institutional-research/enrollment-data/
I second many, if not most, of the sentiments expressed by wh.
In my view, several errors have been made by the present administration. They include setting an unrealistic goal of 6,000 students, increasing the emphasis on foreign students, decreasing the emphasis on Lutheran students and the Christian character of the university, and -- apparently -- neglecting a growing crisis at the law school, which as we all know, resulted in its closing. The law school was never highly rated, but up until its final years produced a good product. Shuttering the school is a big deal and has hurt the university's reputation.
Paul
I think there have definitely been challenges, some recent and some that are just paying dues now (specifically our buildings had been allowed to stagnant or were not built with growth in mind at all).
I would push back on 1 thing: A strategic plan is also part aspiration and will constantly be revised. It was also made at a time where people were seeing large increases in college enrollment, in part fueled by the Great Recession. Probably a little bit to pie in the sky. So fully looking at the pace with the strategic plan is not always the best way to evaluate actual health. I think noone would argue that we have had disappointments in enrollment but we are also definitely not suffering in ways other peer schools aren't.
Other issues is the fact that things have changed in the last 2-3 years. Education is one of America's most successful exports via international students and losing those numbers do hurt the bottom line because they usually would pay full price allowing schools to prioritize domestic students with scholarship money. The college tuition race to the top was out of control and, even though it has stopped climbing, the narrative is that college is too expensive for what it's worth (even through data does not show that if you go to a reputable school).
Some times I think the university could have done better by honestly pulling the plug on the law school earlier. But building new buildings, even financed by bonds is definitely the right decision. First because if we wait just for the donor money you will see the growth like with Harre where you get a few new big buildings but those don't outstrip the rate at which your other buildings are deteriorating, and they took advantage of extremely low interest rates that can't be found now which makes it more financially manageable. I would also think that Heckler was too cautious in regards to getting an administration that was all on board. The existential crisis of Valpo is often seen on this board. Our Lutheran Heritage vs our desire to perhaps grow our reputation and identity. The world is changing and the pool of applicants is as well and, importantly, the amount of college aged Lutherans(or even religiously focused students) who care about a school being Lutheran is shrinking.
I'd say that the University is trying to ride out a short term rocky landscape across higher ed with the eye on long-term viability. That's going to make for some difficult current years but it's the better strategy than other schools have taken on. Some Debt, still moving forward with moves like with the MVC and investment in new programs(work on the street is they're working on an Occupational Therapy one). But maybe some unfortunate belly tightening now to keep yearly budgets under check with strategic investments.
It sure is easy to sit back and then after the fact, criticize. We all do it at one time or another. Let's be careful what we say...Monday morning quarterbacking is easy and fun for some. We still have a University of which we can be proud as we realize that these times are bringing problems for many colleges and universities, Valpo included.
AGREE with our recent approach to new buildings. They are great and each one of them was needed. VU sat around for 20 years without doing much of anything (1974-1993) and we are still paying for that inaction.
DISAGREE with the emphasis on enrolling more foreign students and those from urban areas, and what I see as a continuing withdrawal from our Christian heritage. I think the unspoken philosophy of this administration is to try to please everyone. Of course, in doing so you wind up pleasing no one. If you don't think the character of VU has changed, check out morning chapel attendance sometime. We should embrace our Christian heritage and purpose (try finding any reference to "Christian" on our web site other than maybe after scrolling through dozens of pages).
Paul
When gov't gets involved in a market it muddies the waters and the normally straight forward rules of supply and demand pricing are thrown out the window.
Correct me if I am wrong, but a major concern with financing for college is that loans are primarily gov't supplied or backed with very little though to "can they pay it back". There is no way most of these young adults would get approved for these large loans in the private lending market. Or if they were approved, it would be at unaffordable interest rates 2-3x as high as the current rates. What results is a university system ripe for an enrollment bubble (happening).
Although the gov't loans programs have buoyed up the student head count and fattened the wallets of universities across the country, it has now also been a direct contributor to the bubble that is bursting. (overpriced degrees and predatory lending to young adults who will be unable to afford their 20-year notes). Let me be clear, do not bail out these students. Even more so, do not bail out the universities that were too stupid to hedge against this inevitability either.
All this being said, schools that did not build their expectation that record years don't grow on trees deserve this hurt. If that is Valpo at present, then we deserve this. Lets learn and move on (and not waste money on ARC remodeling before real income generating investments like academic buildings or livable dorms). It's amazing to me how many households and businesses don't hedge their bets knowing that down markets exist. I could be simplifying a process here that is just not that simple, but if I ran my budget this way then I deserve bankruptcy.
For those in the know, what have been the cycles in the college degree market (post WWII)? At the very least, when did the up market of the 1990s begin/end? I was at VU from 2001-2005 which must've felt the impact of 9/11, however, not so much that we as students knew what to look for. Was there a downturn in college enrollment post Cold War that was sizable? Or was it a bull market from say 1990 until 2008'ish?
P.S. For those at VU pre-2001, was the international student portion of the campus well developed? We had a lot of middle eastern students driving Porsche and muscle cars in my time at VU.
Quote from: 78crusader on August 02, 2018, 03:28:40 PM
AGREE with our recent approach to new buildings. They are great and each one of them was needed. VU sat around for 20 years without doing much of anything (1974-1993) and we are still paying for that inaction.
DISAGREE with the emphasis on enrolling more foreign students and those from urban areas, and what I see as a continuing withdrawal from our Christian heritage. I think the unspoken philosophy of this administration is to try to please everyone. Of course, in doing so you wind up pleasing no one. If you don't think the character of VU has changed, check out morning chapel attendance sometime. We should embrace our Christian heritage and purpose (try finding any reference to "Christian" on our web site other than maybe after scrolling through dozens of pages).
Paul
Very much disagree with this. Every video produced (and in today's world this is how you reach students--in short bursts) prominently features the Chapel. President Heckler always talks about "A University under the cross". As for chapel attendance, you are stuck in the 80's when 75% of Valpo students were Lutheran and mostly from the LCMS. Heck, we had an entire dorm just for the Deaconesses. Take a look at Concordia River Forest. It used to be a Lutheran Teachers College--period. Take a look at her now! Lot's of night classes for Graduate programs certainly not focused on all things Lutheran. It is called survival.
Kids today worship in different ways. The candle light service, Sunday evenings is well attended as are other venues. No, it isn't the Sunday mornings of when we went to school but it is a place where the national reputations is leaps and bounds ahead of where it was then as well. The emphasis is on giving back through volunteerism. A noble cause and well within the Christian mode of operation, don't you think? If you want Valpo to be Wheaton, it never was and never will be.
Lastly, on the 6000 student thing--it was a goal based on over capacity and under use of facilities, not something where we built it and then hoped they would come.
Good points made by VU72.
However the 2013 MasterPlan document did say that 6,000 students was a reason to develop the full masterplan. But I may misremember. I fult's somewhere in the bowels of this message board in General Discussion. And therefore I did read it as "If we build it, they will come."
I do concur with FieldGoodie05 who says the ARC renovations are a tiny issue compared to the financial health of the university. First priorities are to find more students for VU. Second, find students who want to come to basketball games and fill seats before we worry about more ARC capacity.
It is not capacity. It is just basic 2018 creature comforts, services, and an ambiance that echos NCAA DIV I basketball vs. a gym that is smaller, less comfortable and older than some Indiana HS gyms.
You can't compare the speed with which Harre raised money with Heckler's campaign. The climates in which the money was raised by each man were completely different. Harre raised his money during the riproaring dot-com era and the subsequent real estate boom wherein seemingly everyone was making money. Heckler's endowment campaign began in a slow slogging recovery that is only just now beginning to bear significant fruit. Of course it's taking longer. It is an undeniable fact that conservative leadership before Heckler proved detrimental to the university's ability to deal with facility needs as they arose. It is also a fact that that same leadership allowed for a more aggressive campaign without doing significant harm to the overall financial health of the university. It is a fact that virtually every building that has been built under this campaign was highly necessary and beneficial to the university. It is also a fact that projecting such massive growth especially if that growth was not domestically driven was too ambitious. There are too many factors at play to rely too much on the international market. It is also a fact that the dorms the rec center and basic improvements to the ARC should be prioritized over a full-scale renovation. It is also true that each of these things--even the ARC renovation--are essential to the short and long-term health and growth of the university. In short, we're all on the same team we all have the best interests of the university at heart it's just a question of priorities and how best to navigate them in a world where resources aren't endless. So far I think President Heckler is navigating this issue quite well on the whole. As for the religious issue, Valpo is often called a place where Athens meets Jerusalem. Both are essential to who we are and create the foundation of the Valpo culture and experience. We mustn't lose sight of either. That doesn't mean, however that we can't or shouldn't adapt or that that relationship and interaction can't manifest itself in new, different and innovative ways.
Quote from: VUGrad1314 on August 03, 2018, 12:16:12 AM
You can't compare the speed with which Harre raised money with Heckler's campaign. The climates in which the money was raised by each man were completely different. Harre raised his money during the riproaring dot-com era and the subsequent real estate boom wherein seemingly everyone was making money. Heckler's endowment campaign began in a slow slogging recovery that is only just now beginning to bear significant fruit. Of course it's taking longer. It is an undeniable fact that conservative leadership before Heckler proved detrimental to the university's ability to deal with facility needs as they arose. It is also a fact that that same leadership allowed for a more aggressive campaign without doing significant harm to the overall financial health of the university. It is a fact that virtually every building that has been built under this campaign was highly necessary and beneficial to the university. It is also a fact that projecting such massive growth especially if that growth was not domestically driven was too ambitious. There are too many factors at play to rely too much on the international market. It is also a fact that the dorms the rec center and basic improvements to the ARC should be prioritized over a full-scale renovation. It is also true that each of these things--even the ARC renovation--are essential to the short and long-term health and growth of the university. In short, we're all on the same team we all have the best interests of the university at heart it's just a question of priorities and how best to navigate them in a world where resources aren't endless. So far I think President Heckler is navigating this issue quite well on the whole. As for the religious issue, Valpo is often called a place where Athens meets Jerusalem. Both are essential to who we are and create the foundation of the Valpo culture and experience. We mustn't lose sight of either. That doesn't mean, however that we can't or shouldn't adapt or that that relationship and interaction can't manifest itself in new, different and innovative ways.
What he said!
There are many thoughtful points in this discussion, many of which I agree with and some that I don't agree with. I won't rehash the well-articulated points that have previously been made.
Two points:
First, one issue that comes to mind from this discussion is the overall business plan and its relationship to servicing the debt associated with the new buildings (which were certainly needed). What was the assumed revenue model when taking out the new debt for these buildings? One person made the point that Valparaiso is spending like 'drunken sailors', but the validity of statements like that are dependent on the ability to service that debt. If the debt was taken out with an assumption of growth to 6000 students - that creates a pending disaster (the 'build it and they will come' model is often problematic). But if the debt was taken out with the assumption that the student population remains relatively constant, then taking out the debt to build buildings that can improve retention and potentially attract new students is the right move. In my view, it is not possible to praise or be critical of the administration without knowing the answers related to the overall business model.
Second, one person mentioned the importance of raising the endowment - of which I agree. One reason is the importance of funding scholarships. However, I would argue that Valpo (like many universities) needs to revise the process for getting endowment money in the hands of deserving students. The process is too conservative as it relies on generating significant returns on the principal prior to making money available to students. It can take years before money donated for endowed scholarships ever generates any actual scholarship awards.
Quote from: vu84v2 on August 03, 2018, 12:08:41 PMBut if the debt was taken out with the assumption that the student population remains relatively constant, then taking out the debt to build buildings that can improve retention and potentially attract new students is the right move. In my view, it is not possible to praise or be critical of the administration without knowing the answers related to the overall business model.
Fair points to be sure and also difficult to prove, one way or another. Let's think back for a moment on what structures have been added under President Heckler. They include the new Arts and Sciences building, the Welcome Center, Beacon Hall, the new Bio/Chem building, the addition to the Chapel and the Sorority Complex. Did I miss any? We know the Dussenberg's paid the majority of The Welcome Center and the Helges paid for the Chapel renovation/addition.
Beacon Hall and the Sorority complex are being funded by student fees. Beacon is the most expensive dorm on campus. If Scheele was paid for then those fees were not going for debt service. Nonetheless, if the Sorority women's room charges weren't going for debt service then their fees were being used for other needs which aren't available now. Then again new building require far less maintenance then ones built in the 60's or before so another conundrum.
As for the Bio/Chem and Arts and Science buildings, it also becomes a complex question. Are we attracting more students with new facilities and/or are we keeping others who might have left? Are faculty staying because of new facilities or is it easier to attract quality faculty because of these additions? I guess this is why we have a Board and Administration who have much more background and evaluations from the constituents and thus are much better prepared to defend these expenditures and borrowings.
We have faculty members on this Board, some of whom may have been directly affected by these additions. Would love to hear their thoughts.
Indeed it is a complex chicken or the egg issue and the causal effects of the facilities are very hard to prove or disprove.
We will get some data soon. The 2018-2019 enrollment would probably finalize by Sept 10?
https://www.myajc.com/blog/get-schooled/colleges-must-throw-open-the-gates-and-welcome-innovation/tgJsDoKk1kwUNl4VkbmxBI/
Putting this here because I thought it was interesting but maybe didn't warrant a whole other thread. I thought this was interesting in light of some of the new changes Valpo has been doing like their Innovation Hub which is designed for community partnerships and their new engineering program which is designed to meet upcoming needs of this area and in the future.
There's a lot of annoying jargon in this article. Ecosystems? :o and "space" where we can interact. :snore:
But the point is a solid one. Universities must connect their students' work externally whenever possible. There isn't as much slack in the world economy as we had in the 60s and 70s when college faculty and students could afford to navel gaze for four years and then get a real job through reasonable effort.
Well I think the other piece you are seeing is that many students are coming to college academically sound which is shifting college towards these more innovative/soft skills focus. You can never really turn college into a "work training" facility because you can't predict job market trends like that, but you can create more hands on networking and also go even further toward turning the college into an economic driver for the area you are in outside of just the bodies you bring to the space.
U.S. News Rankings come out on MONDAY, SEPT. 10.
The Wall Street Journal put out a ranking today. It's a bit strange because they co-mingle the small colleges with large universities. They use "outcomes" and "satisfaction" ratings.
Valpo was #262 I believe. The top 50 was a predictable group of Ivys and the very elite public univs and private colleges. Drake was ahead of us. I didn't really focus on other names.
US News is still the standard. We will probably be Top 5 again in the Midwest universities. But who knows?
oK, good, we got our Top Five rank from US News.
When will enrollment numbers finalize? Someone said there is a new COO. How does that pertain? Or does it?
This new guy will be more looking forward. He has a pretty good pedigree in regards to working at smaller religious institutions. it also looks like he's done a good job and increased their competitiveness while increasing their selectivity as well. Seems like the type of guy you'd want if you are competing with Butler, Creighton, et al.
Haven't heard final enrollment numbers yet. Have heard that the new class is slightly down from last year which was a record high but still within where we have been the last few years. Definitely feels like the growth has plateaued and hopefully this new guy can help work to push it up another level.
Quote from: crusader05 on September 10, 2018, 07:09:56 PM
This new guy will be more looking forward. He has a pretty good pedigree in regards to working at smaller religious institutions. it also looks like he's done a good job and increased their competitiveness while increasing their selectivity as well. Seems like the type of guy you'd want if you are competing with Butler, Creighton, et al.
Haven't heard final enrollment numbers yet. Have heard that the new class is slightly down from last year which was a record high but still within where we have been the last few years. Definitely feels like the growth has plateaued and hopefully this new guy can help work to push it up another level.
What you have heard is fairly accurate.
I don't know if this will apply at Valpo because the overall environment and area demographics are not the same, but living in Wisconsin, I see a lot of aggressive Concordia University Wisconsin (Mequon) marketing presence in the eastern part of the state - Electronic billboards, TV commercials, official "something" of the Green Bay Packers, university physical logo on the south endzone scoreboard at Lambeau Field, and so on.
Google profile.
Private
Ranking: #51 Regional University Midwest (2018)
Acceptance rate: 63.00% (2016-17)
Tuition: $29,180 USD (2018)[R&B&F = ~$11,000]
Undergraduates: 3,830 (2017)
Enrollment: 7,721 (2017)
Athletic Affiliation: NCAA Division III - 29 sports
They have been aggressive since the mid 90s. From Wikipedia: CUW has doubled in total enrollment from 3719 in 1995–96 to 7485 students in 2010-11. Adult education programs were also expanded, thereby topping the list of the largest such programs in higher education for the Lutheran Church. CUW's enrollment makes it the largest Lutheran university in the United States
Since 2011, the enrollment has flattened out, but it may be that they achieved their goals and are content to stay where they are now are. Certainly, their physical campus would need to undergo significant construction if they were to aspire to increase enrollment any further.
Quote from: VULB#62 on September 11, 2018, 10:59:00 AM
I don't know if this will apply at Valpo because the overall environment and area demographics are not the same, but living in Wisconsin, I see a lot of aggressive Concordia University Wisconsin (Mequon) marketing presence in the eastern part of the state - Electronic billboards, TV commercials, official "something" of the Green Bay Packers, university phjysical logo on the south endzone scoreboard at Lambeau field, and so on.
Google profile.
Private
Ranking: #51 Regional University Midwest (2018)
Acceptance rate: 63.00% (2016-17)
Tuition: $29,180 USD (2018)[R&B&F = ~$11,000]
Undergraduates: 3,830 (2017)
Enrollment: 7,721 (2017)
Athletic Affiliation: NCAA Division III - 29 sports
They have been aggressive since the mid 90s. From Wikipedia: CUW has doubled in total enrollment from 3719 in 1995–96 to 7485 students in 2010-11. Adult education programs were also expanded, thereby topping the list of the largest such programs in higher education for the Lutheran Church. CUW's enrollment makes it the largest Lutheran university in the United States
Since 2011, the enrollment has flattened out, but it may be taht they achieved their goals and are content to stay where they are now are. Certainly, trheir physical campus would need to undergo significant construction if they were to aspire to increase enrollment any further.
I'm not sure Valpo would be well served by doubling the enrollment through part time/evening/online graduate students. This is basicly the same story playing out at Concordia Chicago where there are 1400 undergrads and 5700 total. This, on a 40 acre campus. In the case of Concordia Chicago it is called survival. I really think you lose your academic reputation when you shift to graduate studies as a main focus. These are not research institutions. There US News rankings bares this out. C Wisconsin 51st, C Chicago 72nd, both in the same category as Valpo.
I do like the idea of promoting via the stuff done by C Wisconsin. Name recognition can go a long way toward increased applications.
Adult ed programs and on-line schooling is what saved both of these Concordia institutions from closing a number of years ago. They are not even close to when comparing themselves to Valpo.
Looking at the 2019 US News rankings I was shocked to see C-Wisc drop all the way to #70 in the Midwest region. That's a long drop from #51. Pretty odd.
C-Chicago was #72. And there was a Concordia in Nebraska that is ranked #35 in the Midwest. How many are there?
Quote from: crusadermoe on September 11, 2018, 12:26:01 PM
Looking at the 2019 US News rankings I was shocked to see C-Wisc drop all the way to #70 in the Midwest region. That's a long drop from #51. Pretty odd.
C-Chicago was #72. And there was a Concordia in Nebraska that is ranked #35 in the Midwest. How many are there?
Eleven.
Concordia College, Moorhead (ELCA)
Concordia College, Alabama
Concordia College, New York
Concordia University, Ann Arbor
Concordia University, Chicago
Concordia University, Irvine
Concordia University, Nebraska
Concordia University, Portland
Concordia University, St. Paul
Concordia University, Texas
Concordia University, Wisconsin
Didn't Concordia Alabama close?
Quote from: vu72 on September 11, 2018, 11:10:42 AM
Quote from: VULB#62 on September 11, 2018, 10:59:00 AM
I do like the idea of promoting via the stuff done by C Wisconsin. Name recognition can go a long way toward increased applications.
So do I and that's why I mentioned it. That aggressiveness had a big role in their growth and is part of their overall approach and business model. But, as I alluded to, their situation is much different from Valpo's and the over 3000 adult ed, online grads are just pure revenue generation that supports the undergrad program which is the real calling of that campus. But there is no reason why a similar marketing approach couldn't focus on what Valpo values most and still get some bang for the buck out of it.
Ok, so how did enrollment turn out? The numbers have to be final by now.
Quote from: VULB#62 on September 11, 2018, 01:35:40 PMDidn't Concordia Alabama close?
Yes, at the end of this past school year in 2018.
https://www.usnews.com/news/best-states/alabama/articles/2018-02-24/concordia-college-alabama-to-close
In 1919, African-American Lutheran congregations in Alabama petitioned the Evangelical Lutheran Synodical Conference of North America for funds to open a high school and college to train church workers. The school opened in 1922 in a rented cottage, and the Synodical Conference soon purchased 13 acres in northeast Selma, Alabama as the site of the Alabama Luther College. A recitation hall (now named Bakke Hall) and a dormitory were erected at a cost of $36,000 and opened in 1925.
The college was forced to close during the Great Depression and the remaining high school was renamed the Alabama Lutheran Academy. Eventually the college was reopened, resulting in the name Alabama Lutheran Academy and College. In 1981 the name was changed to Concordia College Alabama, and in 1994 it gained accreditation from the Southern Association of Colleges and Schools as a bachelor's degree-granting institution.
In February 2018, the college announced that it would close at the conclusion of its academic year due to enduring financial problems. The 147 members of the final graduating class received their diplomas on April 28, 2018.https://en.wikipedia.org/wiki/Concordia_College_Alabama
Which folks on the board always find the enrollment numbers? Hoping the undergrad ones are not too bad.
I haven't gotten official numbers but I've heard this: Down from the last few years but not significantly. that goal is about 800 first year and 200 transfers for 1000 new undergrad a year and that they missed this mark but a little over a 100. Seems like the area of growth is college of business and arts and sciences as Nursing and engineering have grown over the years and show little signs of slowing. Also heard our transfer numbers are better than average for peer universities but we need to increase first time and increase retention with financial causes being one of the main reasons students leave (hence the endowment).
These are undergraduate numbers, we are at much lower enrollment overall as the law school winds down and we are working on restructuring our graduate program. Obviously the law school is going to be phased out over the next year so if we are to grow up to our target (probably lower than the initial 6,000 now without the law school) the first focus is undergraduate and then graduate.
Quote from: crusader05 on October 01, 2018, 08:46:12 AM
I haven't gotten official numbers but I've heard this: Down from the last few years but not significantly. that goal is about 800 first year and 200 transfers for 1000 new undergrad a year and that they missed this mark by a little over a 100. Seems like the area of growth is college of business and arts and sciences as Nursing and engineering have grown over the years and show little signs of slowing. Also heard our transfer numbers are better than average for peer universities but we need to increase first time and increase retention with financial causes being one of the main reasons students leave (hence the endowment).
Since the official numbers are not public yet, I am not permitted to give the specifics; however, I would not debate the summary above, except for "a little over 100," which probably should be "less than 100."
Are the statistics STILL not public? Perhaps it is classified. And/or maybe they slow walk that information like our national inteliigence offices.
Quote from: crusadermoe on October 17, 2018, 01:40:33 PM
Are the statistics STILL not public? Perhaps it is classified. And/or maybe they slow walk that information like our national inteliigence offices.
I believe the number shown on valpo.edu in the "about" section, are this fall's numbers. I had found records here:
https://www.valpo.edu/institutional-effectiveness/institutional-research/enrollment-data/
And this shows fall enrollment for 2017 for law and grad programs at 802 and undergrad total at 3255. The numbers showing on the "about" page show grad and law at 588 and undergrad total at 3220, for a total of 3808, down from 4057.
If 3808 is correct, then that is the lowest total enrollment in over 10 years. The undergrad number is up from 2012 and inline with the total undergrad numbers since then.
That sounds about right considering how much law has dropped in the last 3 years. I think they are down to 20 students or so?
This is concerning... We're building to suit 6000 students when we're struggling to exceed\stay above 4000 and just lost one of our greatest grad school draws. I hope it works out but it seems like our best and only way to achieve this goal would be for Valpo to go on some major tournament runs (sweet 16 or better).
I think most folks on the board believe that a basketball success makes a big impact. But thanks to ML2 we discovered how leveraged the university is in terms of loans to build its buildings. You can only borrow money for so long against a "future income stream."
We are "house poor" in the way that a young couple making a combined $150,000 buys a $500,000 house on the belief that they will earn more and more in the next decade and squeeze out a house payment. We did the same thing betting on tuition payment from 6,000 students.
Then they take a pay cut for unforeseen reasons and can't restore that income for the next five years. They eat baked beans and tuna, and can't buy furniture or landscaping. ....Or they just keep spending on landscape anyway.
Quote from: VUGrad1314 on October 18, 2018, 05:40:28 AM
This is concerning... We're building to suit 6000 students when we're struggling to exceed\stay above 4000 and just lost one of our greatest grad school draws. I hope it works out but it seems like our best and only way to achieve this goal would be for Valpo to go on some major tournament runs (sweet 16 or better).
I guess I'm wondering what would indicate we are building for 6000? The new buildings, since the 6000 goal was expressed, include a new science building (desperately needed) a new dorm (probably not needed for capacity reasons but needed for modern reasons). The sorority complex, which has nothing to do with expected growth and?? I guess I don't see the "building" part of it. Part of the reason for expanded growth was to better utilize existing spaces. Places like the Union and Library were not expressly built with the expectation of significant growth. The law school loss really doesn't effect the rest of the campus. Those students live off campus.
Quote from: crusadermoe on October 19, 2018, 03:11:57 PM
I think most folks on the board believe that a basketball success makes a big impact. But thanks to ML2 we discovered how leveraged the university is in terms of loans to build its buildings. You can only borrow money for so long against a "future income stream."
We are "house poor" in the way that a young couple making a combined $150,000 buys a $500,000 house on the belief that they will earn more and more in the next decade and squeeze out a house payment. We did the same thing betting on tuition payment from 6,000 students.
Then they take a pay cut for unforeseen reasons and can't restore that income for the next five years. They eat baked beans and tuna, and can't buy furniture or landscaping. ....Or they just keep spending on landscape anyway.
I also believe in the logic you have presented. Good example btw.
The published masterplan says that the buildings "are needed to support the 6,000 students goal." That document has been posted on this board a few times. Perhaps not "expressly built for growth", the library and union are far larger than was needed for a 4,000-4,500 student target. Our appetite for "space" just outgrow our income. "We came to a fork in the road and we took it." (Yogi Berra)
VU72 (in prior post):
I guess I'm wondering what would indicate we are building for 6000? The new buildings, since the 6000 goal was expressed, include a new science building (desperately needed) a new dorm (probably not needed for capacity reasons but needed for modern reasons). The sorority complex, which has nothing to do with expected growth and?? I guess I don't see the "building" part of it. Part of the reason for expanded growth was to better utilize existing spaces. Places like the Union and Library were not expressly built with the expectation of significant growth. The law school loss really doesn't effect the rest of the campus. Those students live off campus
There are definitely parts of the master plan that are contingent on growth in numbers, such as at least one new dorm and potentially my guess is funding for upgrading some academic buildings. But there was also stuff that was considered high priority to stay competitive to even maintain numbers. Specifically things like the new Science building and Beacon/Sorority Housing (you cannot renovate the current dorms in the future if they are always filled). The Endowment is also a part of the Strategic plan to help decrease yearly costs to aide in bond payments and other small costs or unforeseen financial issues, as well as the continued increase in programs offered like 2 new engineering programs in 2 years and the beginning stages of bringing an Occupational Therapy program to campus.
My guess is that is there are probably some projects that will not see fruition until graduate numbers rebound(such as improvements to the business school) but there will still be certain areas of donor focus and building, like prioritizing ARC upgrades over the new rec facility.
Quote from: crusadermoe on October 20, 2018, 12:48:01 PMThe published masterplan says that the buildings "are needed to support the 6,000 students goal." That document has been posted on this board a few times. Perhaps not "expressly built for growth", the library and union are far larger than was needed for a 4,000-4,500 student target. Our appetite for "space" just outgrow our income. "We came to a fork in the road and we took it." (Yogi Berra)
"The Valparaiso University administration is not as smart as the average bear. Even I don't steal more food from pic-a-nic baskets than I can eat, right BooBoo?" (Yogi Bear)
(https://media.giphy.com/media/5DKHdBeHcbDqg/giphy.gif) (http://www.hastingschivetta.com/assets/Valparaiso-U-Center-for-the-Sciences-Ext-2_square-460x460.jpg)
Quote from: bbtds on October 22, 2018, 10:50:38 AM
Quote from: crusadermoe on October 20, 2018, 12:48:01 PMThe published masterplan says that the buildings "are needed to support the 6,000 students goal." That document has been posted on this board a few times. Perhaps not "expressly built for growth", the library and union are far larger than was needed for a 4,000-4,500 student target. Our appetite for "space" just outgrow our income. "We came to a fork in the road and we took it." (Yogi Berra)
"The Valparaiso University administration is not as smart as the average bear. Even I don't steal more food from pic-a-nic baskets than I can eat, right BooBoo?" (Yogi Bear)
Was the new Student Union mostly financed by debt? I must admit to ignorance on that subject, thought I saw a wall of donors for the Union and unsure as to what % of the overall cost came from debt and what % came from donations?
(https://media.giphy.com/media/5DKHdBeHcbDqg/giphy.gif) (http://www.hastingschivetta.com/assets/Valparaiso-U-Center-for-the-Sciences-Ext-2_square-460x460.jpg)
The Union was donor based.
As far as debt based that would be the two residence halls (although the sorority complex and even Beacon I believe pay their way) and the two latest Academic buildings although I believe there was still some donor participation in that.
The reality is that our buildings were way behind the times and we had already outgrown the campus space with past enrollment so something needed to be done and Valpo just does not have the large donor base needed to do the updates and renovations we need to do. Thankfully the bonds were taken out during the time of record low interest rates. We either were going to need to build with bonds or fall further and further behind.
The question that really needs to be asked is, what is the level of enrollment needed in the next 10 years (or more) to service the debt and the operating costs on the new buildings? I don't know the answer and no one else here seems to know that answer. If they built new buildings with the idea of needing to support 6000 (i.e. plan capacity for the future), but they only require an enrollment of 3000 in the business model - then it looks like a good move. If they built with an assumption in their business model that they will have 5000+ students, that is a huge problem. My guess is that they have been fairly cautious and that they are OK, but other schools have taken out huge debt that they cannot service - so I hope, in relationship to Valpo, that I am right.
The biggest problem is their unfunded grants to students (aka the "discount" rate). Even if you bring in an extra 500 students, you only generate cash from them at a "sale" price. But obviously 500 additional per class would add much more cash to operations than adding zero students or decreasing your class sizes.
Endowment is of course the long-term answer, but that is a very slow build if you only spend out 4-5% on the student grants. What is the 3-10 year answer to the bond-holders?
I can't attest to the truth of it but I've heard that are equity in land is quite large so I wonder if that offsets any immediate concerns about bond payments.
Everything I've heard about financial concerns for the university center around the law school and making sure that enrollment numbers and retention numbers continue to improve. Those are usually talked about though in relation to yearly budgets vs endowment or long-term financial concerns. I remember hearing that our long-term investment structure is solid, it is just getting through the immediate financial tightness of closing down the law school and adjusting to changing demographics and increased competition.
Quote from: crusader05 on October 23, 2018, 11:43:12 AM
I can't attest to the truth of it but I've heard that are equity in land is quite large so I wonder if that offsets any immediate concerns about bond payments.
Everything I've heard about financial concerns for the university center around the law school and making sure that enrollment numbers and retention numbers continue to improve. Those are usually talked about though in relation to yearly budgets vs endowment or long-term financial concerns. I remember hearing that our long-term investment structure is solid, it is just getting through the immediate financial tightness of closing down the law school and adjusting to changing demographics and increased competition.
When you think about it, it has to be substantial. 350 acres? Think of all of old campus plus all of Mound Street plus almost all of Linwood plus all of new campus? That is a lot of dirt.
That doesn't even count the Eastgate fields and the land of that old grocery store. Plus I believe they have been picking up land off of Laporte
Wasn't the property where the new Phi Psi House will be located acquired in a trade for their Mound Street property?
So here is some info from the attached 990 from year end 2014. This is after building Beacon Hall. Here are some highlights:
Total Assets $567,503,000
Total Liabilities 145,429,000
Net Worth 422,064,000
Total Revenue 182,986,000 (includes Gov't Grants of $5.3 mil, Gifts of $24.3 mil and Tuition/housing/misc of $160.2 mil)
Total Expenses 191,893,000 (includes the scholarships of $63.5 mil)
Net Loss 8,907,000 (of this amount 6,834,000 was from cost of goods sold--no cash)
Scholarships provided to 3,444 students: $63,523,780
Total Tax Exempt Bonds Outstanding: 96,935,000 (of which 37,600,000 is attributed to Beacon Hall)
The highest paid University employee was a guy named Bryce Drew who earned $423,201. For those of you who think President Heckler isn't backing the athletic programs, that is roughly $10,000 more than he earned.
Interestingly enough, the law faculty is very expensive. Four law faculty members listed earned a combined $1,035,085.
That's all folks! Happy digging!
http://990.erieri.com/EINS/350868125/350868125_2014_0cbfca22.PDF
Yes, I believe the way it works for Phi Psi and eventually Sig Ep is that there is a land swap where the university will take over the old Phi Psi building and cleared the land to provide for the new house. I believe there was also some sort of understanding that as part of building the House they would include some sort of green/all campus space that students can utilize on the land as well. I believe they have also made that request of Sig Ep but am unsure of Sigma Chi. I think that is because the university would take on the costs of tearing down the old buildings and, in the case of the phi psi and eventually sigma chi land, they removed the buildings that were currently there.
Word on the street is also that Theta Chi might be returning but they will have to tear down and rebuild as the old house is pretty much uninhabitable.
I'm not a CPA. I don't play one on TV or even stay at a Holiday Inn Express the night before a financial meeting.
The $8.9 million net loss shown in the financial statements from VU72 is notable. VU72 says over $6 million of that $8.9M net loss is "cost of goods sold," )(not cash.)
Maybe that is better than a "cash" loss. But I have a sincere question. Can someone explain how a "cost of goods sold" shows as an expense that is not offset by the cash obtained from the sale?
Quote from: crusadermoe on November 07, 2018, 03:20:51 PM
I'm not a CPA. I don't play one on TV or even stay at a Holiday Inn Express the night before a financial meeting.
The $8.9 million net loss shown in the financial statements from VU72 is notable. VU72 says over $6 million of that $8.9M net loss is "cost of goods sold," )(not cash.)
Maybe that is better than a "cash" loss. But I have a sincere question. Can someone explain how a "cost of goods sold" shows as an expense that is not offset by the cash obtained from the sale?
Good question. When I said "Not cash" , I should have said, "not cash this year" At some previous point the funds were spent. They related to "inventory", whatever that means. The sale produced over $8,000,000 in proceeds which is included in the total revenue. Think of it as if you bought a stock several years ago and then sold it this year. The proceeds will effect your cash flow this year and the cost basis (cost of goods sold) impacted you cash flow at a different time.
My attempt was to show the operating results on a cash basis when the actual financials were done on an accrual basis, which shows a loss of $9,000,000.
I wasn't a business major, so all of that talk was like a plane flying over my head...all nice and loud, but I just didn't understand.
http://nwindianabusiness.com/community/business-news-bits/valparaiso-university-will-offer-online-post-professional-occupational-therapy-doctoral-degree-beginning-in-summer-2019/
Looks like the University will be offering a new doctoral degree online. I've been hearing about this and the hope is to eventually fully grow it out to a complete OT degree but this is a good way to be in service of the community without demanding too much more work. I hope we see a few more of these programs popping up.
Also, the Sigma Chi fraternity is in the midst of their fundraising push for their house. Looks like they need to raise 1 million to be able to finance the rest. I hope they get it as Phi Psi will be building soon and it would be nice to have two new houses popping up on campus again.
I could see Sigma Chi doing well raising funds. Impressive group.
Let's hope the enrollment big picture improves and many other opportunities should be open to Valpo.
Did I mention that my granddaughter was just accepted to Valpo and, offered a Presidential Scholarship! Other than bragging, I found it interesting that her acceptance letter was signed by a guy named Ray Brown, as Vice President of Enrollment Management. I presume he is replacing Joseph. I don't recall any announcement about Mr. Brown. Anybody know him? Given our enrollment challenges you have to expect this was a VERY important hire.
I did find his bio on the Office of the President website. Sounds like a very experienced and successful enrollment officer:
Ray Brown, M.A., joined Valparaiso University as interim vice president for enrollment management on Aug. 6, 2018. As the chief enrollment officer, Vice President Brown leads the development and oversees the execution of the University's comprehensive enrollment management plan, under the leadership of Senior Vice President Susan Scroggins, CPA, '04 MBA, and the executive management team.
Vice President Brown has extensive experience in higher education, most recently serving for 16 years as the dean of admission at Texas Christian University (TCU) in Fort Worth, Texas, where he led the team that yielded 1,900 first-year students and 400 transfer students. Under Vice President Brown's tenure at TCU, the university increased selectivity and increased applications significantly. At the end of Vice President Brown's tenure he became the first non-faculty member to become designated emeritus.
Previously, Vice President Brown served as the dean of undergraduate admissions at Marquette University in Milwaukee, and as the associate dean of students and director of admission and financial aid at the University of Chicago Booth School of Business, among other universities.
Education
A.M. — University of Michigan
B.A. — Concordia University
I don't know much more than what you posted other than a few other things. I believe he specializes in boosting enrollment and selectivity at smaller schools so seems a good fit for valpo. I have heard he's hand-signing all acceptance letters and has even hand delivered some to local students so he definitely seems invested.
Quote from: crusader05 on January 09, 2019, 03:53:40 PM
I don't know much more than what you posted other than a few other things. I believe he specializes in boosting enrollment and selectivity at smaller schools so seems a good fit for valpo. I have heard he's hand-signing all acceptance letters and has even hand delivered some to local students so he definitely seems invested.
[/b]
That was the case with my granddaughter and he added a personal handwritten note concerning the legacy. Nice touch.
This article was recently posted and talked a bi about the struggle for small liberal arts colleges
https://www.insidehighered.com/news/2019/01/24/green-mountain-latest-small-college-close#.XEuCLT0lgRc.twitter
it's also important to realize that many of these colleges have enrollment goals that are only slightly larger than the number of transfers Valpo sees enter on an academic year to give an idea about what people mean when they talk about "small" liberal arts colleges.
Valpo is in budget constraints for sure but the reality is that we are large enough, and soon to be well-endowed enough, to not have to deal with the consequences that happen to these smaller schools when you miss enrollment targets by even a small amount.
A report recently indicated that approximately 60% of universities have not hit their enrollment targets in the last year or two which indicates that we are a time of constriction for higher ed and immediate financial decisions must focus on running a tight ship and focusing on retention and what your enrollment needs to look like.
I also wanted to respond to the concern about the bonds. I cannot speak to all but I know that when looking at the cost of building Beacon and the sorority complex that the income brought in from filling those beds is designed to pay for the cost.
That's encouraging to know that income from Beacon etc. should offset payments. And yes VU does have a lot of assets. Yes, the environment is highly competitive. I've offered numerous comments about the potentially strong need to know yourself thoroughly and to know how you are distinguished from the hundreds of others.
But yes, the industry is a tough one. Let's hope that Mr. Ray Brown and his executive peers bring some insights and execution to the battle against the forces you outlined. You seem to have the answers to our tough questions, so thank you, Crusader05!