When IWU’s donor participation increases:
IWU gets a boost in college rankings (and the value of every IWU degree increases)
IWU is more likely to get funding from private foundations and others. Recently, IWU lost a $250,000 grant from the A.V. Davis Foundation---and they referenced our low participation rate as a primary reason for us not being awarded the grant. This is a foundation with a history of significant giving to IWU.
IWU's bond rating improves, which strengthens the University's financial position
More than 90% of IWU students receive financial aid or scholarship.
We currently allocate over $32 million for financial aid (35 percent of our total operating budget), a number that has increased from $23 million (29.7 percent) five years ago. We can’t sustain this level of increase.
The percentage of students from low socioeconomic status families — that is, students who are eligible to receive the Pell Grant — has increased from 11 percent to 20 percent.
IWU’s endowment, at $228 million, is about $100 MILLION LESS than the AVERAGE of our peer group (Augustana, Carleton, Denison, DePauw, Franklin & Marshall, Kenyon, Knox, Lawrence, Macalester, Rhodes, St. Olaf, Wooster).
Reduction in retirement benefit for all faculty and staff
Salary freeze for all faculty and staff
May Term no longer free to students
Reduction in faculty/staff positions (IWU already has 25% fewer staff than our peers)
Standard & Poor’s upgraded our bond rating from BBB+ to A-, while most schools are going backward or at best staying constant.
Sterling Partners and Bain & Company released a report in July indicating that Illinois Wesleyan is in the top 40 percent of all public and private universities in the country in terms of financial health. A key measure used in that study is the ability to control costs relative to income. The remaining 60 percent either were judged to be “at risk of slipping into an unsustainable financial condition” or “have been on an unsustainable financial path in recent years.”