Future of Division III

[Ralph Turner]

I hope that the Board and Administration considered the closure with a consideration of having enough fungible assets to provide "liferafts" for students and faculty. I hope the closure is not a year too late.

[Kuiper]

At Siena Heights, 67.8% of its students were athletes.  That's a canary in the coal mine stat:

https://bsky.app/profile/stevedittmore.bsky.social/post/3lsvt2nn5ik2z

Unfortunate news concerning Siena Heights University and its impending closure. Per 2023-24 EADA, school had 1,075 undergraduates, 729 athletes (67.8%). In 2022-23, the school reported 1,095 undergraduates, 684 athletes (62.5%).
https://www.sienaheights.edu/siena-heights-university-announces-closure/

[CNU85]

I wonder how nearby Adrian is doing from a financial standpoint.

[Ron Boerger]

I wonder how nearby Adrian is doing from a financial standpoint.

Decently by comparison.  Have shown profits (net income) of $4.8M (2024), $9.6M, -$1.6M, $8.6M, $3.9M (2020) the last five years on yearly expenses ranging from $96M in FY24 to $90M in FY20.  Net assets have increased in that time from $93M to $126M.  No issues raised in most recent audit.  $11M cash on-hand, $57M in investments and $27M in beneficial interest in trusts held by others; long-term debt is a bit high at $42M, $10M in short-term borrowing also notable but a 3:1 asset:debt ratio is not bad for a small school in this era.  They also have a healthy donor pipeline with nearly $10M in gifts in 2024, $8.5M in 2023.  On top of those gifts they saw $2M additional to their endowment in '24 and nearly $7M to it in '23.