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. 

[IC798891]

Things do not look good for Utica right now

https://www.wktv.com/news/utica-university-will-cut-5-million-from-annual-faculty-budget/article_4e212e7d-2749-437c-94e2-1e1e857eafec.html

[Kuiper]

Things do not look good for Utica right now

https://www.wktv.com/news/utica-university-will-cut-5-million-from-annual-faculty-budget/article_4e212e7d-2749-437c-94e2-1e1e857eafec.html

Sounds like Athletics cuts could be next

The university said it has "already taken steps to reduce costs from non-faculty staff, and it is reviewing both athletic programs and non-campus facilities for potential cost savings."

[Caz Bombers]

Utica already made a few athletics cuts 2 years ago, ending the swim teams and women's water polo due to the cost of upkeep on the pool (they also cut men's tennis at the time).

They also took a swing at new sports, adding wrestling and gymnastics. Not sure what other cuts they could make at this point. Maybe the golf teams and women's tennis.

[Ron Boerger]

The story paints a relatively positive picture, but their 2024 Form 990 showed a loss of over $15M (on revenues of $95M), assets of $133M (primarily land/buildings/equipment, $77M) encumbered by liabilities of $87M.  The 2024 audit showed significant deficiency in internal controls.  They also lost over $15M in 2023.  In neither year did the school report any investment income.

In their audit the school claims the deficits "had been planned for prior to the beginning of the fiscal year and was covered by the release of board designated funds held by the University" which doesn't make the fact that they destroyed something like 55% of their current net value to pay the bills any better.  At the end of 2024 they had nearly $17M in accounts payable on top of $58M in long-term liabilities. 

[jknezek]

Utica already made a few athletics cuts 2 years ago, ending the swim teams and women's water polo due to the cost of upkeep on the pool (they also cut men's tennis at the time).

They also took a swing at new sports, adding wrestling and gymnastics. Not sure what other cuts they could make at this point. Maybe the golf teams and women's tennis.

If they hadn't just built a brand new facility, hockey would be the easy target. Nothing in D3 sports is more expensive than a hockey team. Rinks cost a fortune, and the maintenance is even worse. But since the facility opened in 2022, hopefully they get enough rent out of it to cover the costs.

[Caz Bombers]

Utica already made a few athletics cuts 2 years ago, ending the swim teams and women's water polo due to the cost of upkeep on the pool (they also cut men's tennis at the time).

They also took a swing at new sports, adding wrestling and gymnastics. Not sure what other cuts they could make at this point. Maybe the golf teams and women's tennis.

If they hadn't just built a brand new facility, hockey would be the easy target. Nothing in D3 sports is more expensive than a hockey team. Rinks cost a fortune, and the maintenance is even worse. But since the facility opened in 2022, hopefully they get enough rent out of it to cover the costs.

Hockey is by far their most successful and well attended sport, Utica would never touch it, they'd sooner drop football (they won't do that either).

[jknezek]

Utica already made a few athletics cuts 2 years ago, ending the swim teams and women's water polo due to the cost of upkeep on the pool (they also cut men's tennis at the time).

They also took a swing at new sports, adding wrestling and gymnastics. Not sure what other cuts they could make at this point. Maybe the golf teams and women's tennis.

If they hadn't just built a brand new facility, hockey would be the easy target. Nothing in D3 sports is more expensive than a hockey team. Rinks cost a fortune, and the maintenance is even worse. But since the facility opened in 2022, hopefully they get enough rent out of it to cover the costs.

Hockey is by far their most successful and well attended sport, Utica would never touch it, they'd sooner drop football (they won't do that either).

That doesn't mean it's not ruinously expensive, just that it would be deeply unpopular. But yes, very unlikely.

[stlawus]

Utica was supposed to move up to D2 so they could play D1 hockey.  There hasn't been any news on that for 3 years, this is probably why.