@BB I will defer to you as the Earlham expert. Below is a board of directors letter which on page 6 deatails the schools “unsustainable” financial position. It’s titled “Concerns About the School’s Financial Situation”.
They detail substantial debt, drawing on the endowment, and a failed strategic plan.
Pleae direct me to a detailed plan to curtail this situation? Assuming the situation remains unaddressed, isnt it likely that any such plan would eliminate staff, require the elimination of departments and or the reduction of financial aid? Can an incoming student possibly be assured that the schools offering won’t be altered to respond to the spending deficits in spite of the board calling for changes?
Please read the following as they express these concerns more articulately then I do being expressed by a noted Quaker intimately involved with the school.
https://afriendlyletter.com/earlham-the-grinch-sections-m-n/#comments
Lastly directly from board note: “the college has been increasingly relying on its endowment as a tool to get it through tough times, both to fund deficits and in the form of ‘supplementary draws’ to fund special initiatives designed to increase revenue. In addition, we have discovered that the admissions yield for the incoming class is considerably lower than anticipated, falling from 325 to 275, which, with an increased discount rate (from 74% to 78%) accounting for perhaps $2M of the shortfall, but we cannot discover what emerged between March and June of this year…”
Worth considering or should these concerns as expressed by insiders and board members be ignored?