Empowered: The Blog for Christian Business Officers in Higher Education

Ask a School Insurance Underwriting Expert: With Spring Around the Corner, What Do We Need to Do During the Transition from Winter?

Thu, 12 Mar 2026 11:00:25 GMT

Question: As winter transitions to spring, what do we need to do to minimize slip, trip and fall hazards?

With spring weather fast approaching, our winter woes soon will be in the rearview mirror! As the seasons turn, it is a good time to examine the effects winter has had on your campuses.

Slip, Trip and Fall Hazards

Slips, trips and falls are the leading cause of general liability claims. Trips can occur for a variety of reasons − clutter in corridors or offices, extension cords running across floors, drawers left open, uneven surfaces and wrinkled carpeting, mats, or rugs.

The following tips can help prevent slips and trips:

Clean up spills immediately. If a spill can’t be cleaned up right away, place “wet floor” warning signs in the area.
Keep corridors and walkways free of debris, clutter and obstacles.
Keep filing cabinets and desk drawers shut when not in use.
Do not run extension cords across walkways.
Replace burnt-out lightbulbs promptly.

Wet and Slippery Floors

April showers bring wet sidewalks, which lead to wet floors at building entrances. Using walk-off mats, keeping those areas dry, and posting warning signs can assist in preventing falls.

Parking Lots, Sidewalks and Steps

Now is a great time to inspect winter’s effect on walking surfaces. Are there potholes in parking lots? Are handrails secure? Are sidewalk pads level? Are there toe or heel catches in parking lots, curbs or sidewalks? Are steps even? Do surface cracks need repair? With the clocks moving forward, check lighting timers to ensure they are synced to the time change for adequate lighting at dawn and in the evening. Also check for burned-out parking lot and perimeter lights. If repairs are going to take a few days or weeks, mark potential hazards with cones or other devices to alert individuals of their presence.

Question: What are some other items to look at as the snow melts?

Snow accumulations and snowbanks hide a lot of damage and debris. As the snow melts, check to see the treasures which have been left behind that may need repair or replacement.

Damaged trash and recycle receptacles
Fallen trees or tree branches
Damaged signposts or signs
Debris in parking lots and along sidewalks
Damage to fencing and light poles
Damage to security cameras

Question: Why should we check our roofs?

Spring showers bring…roof leaks. Winter takes its toll on a roof. Freeze-thaw cycles, heavy snow loads and ice can cause damage. Spring is a good time to have your roof inspected so you are ready for the stormy season ahead.

Here are some things to know and what to look for:

Clear Debris

Clear the rooftop of any debris. For best results on single ply roofing membranes, use a stiff bristle broom and apply positive downward pressure when clearing accumulated dirt and leaf deposits around drains and scuppers.

Shingles

Look for broken, curled, damaged, missing granules, or missing asphalt/composition shingles. Also look at wood shakes/shingles that may be curling, showing signs of decay or mold, or splitting.

Tears, Splits & Punctures

Look for tears, splits, and punctures in the roofing membrane. Contact your roof contractor as soon as possible to have these repaired. Always be sure to report roof leaks observed inside the building directly to your roof contractor to have warranty work done (if applicable).

Secure Equipment

Verify rooftop equipment is secure and won’t become dislodged in high winds. Although high winds can occur during any month of the year, March through June are a time where higher winds occur more frequently.

Clear Blockages

Clear any blockages from drains, downspouts, or gutters and ensure water flows freely. Check for damaged gutters or downspouts which may be bent, clogged, leaking, loose, or missing.

Check Flashings

Check metal counter flashings at roof-to-wall transitions, and around rooftop units, vents and skylights. Check fascia and soffit that may be bent, curled, loose or missing. Re-secure areas that are loose or have pulled away and re-seal as needed.

Chimneys

Check chimneys that may be damaged, have bricks with crumbling or missing mortar, damaged or missing flashing, or leaning and having the potential of collapsing.

Ponding Water

Look for standing water, also known as “ponding water.” The National Roofing Contractors Association defines ponding water as water that remains 48 hours after a rainfall in conditions conducive to drying.

If you find damage, or if you want a more comprehensive inspection of your roof, contact your roof contractor or consultant. Quickly addressing any issues can extend the life of your roof and prevent leaks, internal damage and interruptions/disruptions.

Question: What do we need to do before commencing spring sports?

Field Maintenance

As spring inches closer, most of us want to get outside and enjoy outdoor activities, including sports. However, temperatures this time of year resemble a roller-coaster, climbing for a few days and then dropping back, often below freezing overnight. Colleges need to carefully evaluate risks when determining if it is appropriate to allow practice on athletic fields during cold temperatures and when the ground is frozen.

Natural Turf Fields

Frozen and hard surfacing increases the risk of significant injury to student athletes. Additionally, simply running on a frozen field increases the potential for slips and falls, leading to lower-body soft-tissue injuries and injuries to the back, shoulder, head, and neck. The warming rays of the sun at this time of year help to melt snow cover and soften the ground, but the resulting wet conditions can freeze overnight, creating icy, hazardous conditions again.

Synthetic Turf Fields

Removing snow improperly from synthetic turf will negatively affect the product’s warranty. Plowing snow can wear fibers on the surface, and essentially all synthetic turf manufacturers forbid their fields from being plowed. The field manufacturer and installer must be contacted for specific procedures on snow removal, but in most instances their recommendation will be to let Mother Nature do her work. Following manufacturers’ procedures are critical for maintaining the field’s warranty and not voiding terms. Also follow their procedures for scheduling GMAX field testing (shock attenuation of turf).

Snow Piles

Snow that’s been plowed into piles around the field will melt more slowly, typically leaving hard, icy, heavy mounds that last beyond April’s showers. Such mounds can cause injury should a player run or fall into them. Removing the mounds will need to be done either by hand or by bringing equipment to the area. Shoveling heavy snow by hand poses an injury risk to staff, and removal equipment may damage the area around the field, particularly as the ground begins to soften and becomes wet from thawing.

Bleachers

There also is an increased risk of falls from bleachers. If bleachers are opened for spectators, they need to be cleared of all snow, ice and any slip/fall hazards prior to use. Perform bleacher inspections and make any necessary repairs. Even if bleachers are not officially open for use, with clear access to the field they become an attractive nuisance.

Concession Areas

Inspect concession areas and equipment. Perform seasonal preventive maintenance. Where applicable, have fire suppression systems inspected and serviced prior to use. If Health Department permits are needed, contact the local authorities and schedule permit inspections.

Field maintenance and preparation are essential parts of protecting student athletes and the public so they can enjoy a safe start to the outdoor sports season.

About the Author: Kevin Beer is president of Wright Specialty Insurance, an underwriting manager of specialty insurance and risk management solutions for public and private universities, colleges and K-12 schools. Visit their website or call (877) 976-2111.

Hidden in Procurement: The Stewardship Advantage Small-College CFOs Often Overlook

Tue, 10 Feb 2026 20:01:18 GMT

Faith‑based colleges are experiencing one of the most challenging periods in their history. Financial pressures, demographic shifts, and political uncertainty are converging at the same time, creating unprecedented strain—especially for small, tuition‑dependent institutions. Since 2020, more than 80 private nonprofit colleges, many of them Christian, have closed or merged. And with the number of high‑school graduates projected to drop by 13% over the next 15 years, many leaders worry that their business model won’t be sustainable without major change.

Colleges and universities spend as much as 55% of their total operating budget on goods and services. That’s a massive chunk of addressable spend.

But that’s exactly why this moment also presents extraordinary opportunity —particularly for school business leaders who are being asked to do more with less. Our missions remain unchanged and unwavering; it is how we choose to navigate the hurdles that will help us adapt and thrive.

The Pressures Are Real—and Rising

Faith‑based institutions feel today’s higher‑ed disruptions more sharply than most. Many rely heavily on tuition and donor support, lack large endowments, and operate with small, overextended staff. The result: every dollar and every hour matters.

Here are four major forces reshaping the landscape:

1. Financial Strain

Inflation, rising operating costs, and years of tuition discounting are catching up with institutions. Nearly one‑third of U.S. colleges are running deficits, and more than 70% have cut budgets across most departments. For small institutions with lean teams, the margin for error is shrinking fast.

2. Demographic Declines

The long‑forecast “enrollment cliff” has arrived. With fewer high‑school graduates entering college in the years ahead, tuition‑driven institutions face unavoidable revenue pressures.

3. Political & Funding Volatility

State and federal support is increasingly uncertain, and even small policy changes—from financial aid changes to tax provisions—can disproportionately impact private colleges. Faith-based institutions can be especially susceptible.

4. Resource Constraints

Finance and business teams are smaller than ever, even as expectations from campus leadership continue to rise. Burnout is becoming common, and “doing more with less” is an everyday reality.

Faith‑based colleges have a unique strength: mission‑driven communities that persevere, adapt, and collaborate.

Yet even amid these challenges, faith‑based colleges have a unique strength: mission‑driven communities that persevere, adapt, and collaborate .

That’s a powerful mindset and a powerful ally. With the right strategies, institutions can not only stabilize but gain new momentum.

Four Strategies That Can Change the Game

1. Cooperative Purchasing: The Road of Least Resistance

If your institution hasn’t fully embraced cooperative purchasing, this alone may be your most accessible opportunity to meaningful cost reduction—without cutting programs or personnel. The best cooperative contracts are plug-and-play—the work’s already been done by a trusted partner and they are already comprehensively vetted with the best pricing, terms, and conditions.

By leveraging pre‑solicited contracts through best-in-class purchasing cooperatives, even the smallest colleges can access volume pricing normally achievable only by the largest universities. The savings are real and can be significant.

Recent pricing pilots have shown:

19–35% savings on identical products and services
Average reductions of 25–30% across key purchasing categories (e.g., office supplies, technology, facilities and MRO)
Avoiding significant time and resource drain by eliminating unnecessary RFPs

If you’re anything like the many small-school business leaders we know, it’s you and your trusted assistant. On any given day, you get to wear a half-dozen different hats—and your trusted assistant probably wears just as many.

There is a better way—and it can make a massive difference. A trusted cooperative can extend your team’s reach exponentially, reduce administrative burden, and help ensure every dollar is truly maximized.

2. Cost Containment: Making Every Dollar Count

Many campuses have already cut travel and entertainment, deferred renovations, and paused hiring indefinitely. What’s left to trim? A lot—if you know where to look.

Cost containment today is about buying smarter , not simply tightening belts. Through meaningful spend analysis, institutions often uncover:

Off‑contract spending
Duplicate vendors
Missed opportunities for category consolidation
Uncontrolled price variations for the same products across different departments

In a recent comprehensive spend review with the NCAA, participating colleges identified average savings of 28% simply by aligning purchases with cooperative contracts and rationalizing product choices.

Cost containment also includes:

Locking in pricing to hedge against inflation
Rationalizing supplier agreements
Coordinating purchasing across departments
Encouraging a campus‑wide culture of value stewardship

The best part?

These efforts protect your mission. They reduce expenses without impacting the student experience —clearly a top priority for faith‑based institutions.

3. Alternative Revenue: Rebates, Incentives, and Other

Balancing budgets isn’t just about reducing costs. It’s about building resilience through diversified revenue streams —especially critical for small Christian colleges.

Many institutions are generating new income successfully through:

Rebates & Incentives

Many cooperative contracts will offer rebates as part of your school’s utilization. This rebate may grow with increased participation—such as by an multi-member association like ABACC—and based on meeting certain thresholds. There’s always strength in numbers.

In other cases, a cooperative group may offer patronage and other refunds to members.

Prompt-Payments

Many payment methods (like virtual cards) return rebates to the college or university when transactions process quickly and electronically. You’ll also avoid potential late fees.

Automation

Manual purchase orders are time-consuming, inefficient, and prone to error. Many suppliers will extend savings for going electronic and automating your business processes with them. These savings can really add up over time and across your supply base.

No single idea is a silver bullet, but every new revenue opportunity can bridge gaps—especially when combined with direct and deliberate procurement cost savings.

4. Procurement Transformation: From Transactional to Strategic

One of the most important shifts happening in higher ed business is the elevated role of procurement.

That matters even if you don’t have a procurement office or a procurement officer (remember the earlier analogy—you wear “a half-dozen hats” at any one time).

Industry experts assert that most modern colleges and universities spend as much as 55% of their total operating budget on goods and services. That’s a massive chunk of what we define as “addressable spend.”

Small, faith‑based institutions can gain enormous value by modernizing how they procure—starting with even simple steps.

Digital Tools Make a Big Difference

Colleges adopting e‑procurement, automation, and data analytics report:

Increased spend visibility
25–30% reductions in processing costs
50–80% faster purchasing cycle times
20% or more increased spend-on-contract
Better compliance
Fewer manual errors and breakpoints

For lean teams, automation can act like an extra staff member (or two!) that you don’t have to hire .

Strategy Over Transactions

Procurement is no longer about just issuing Purchase Orders. It is about:

Shaping financial strategy
Ensuring alignment with mission
Providing actionable data to leadership
Helping prioritize campus spending
Holding suppliers accountable
Identifying new revenue opportunities

Conclusion

Business leaders at Christian colleges can adapt and thrive by looking at procurement and the supply chain more strategically, by recognizing that it is addressable spend, and by embracing emerging practices—like cooperative purchasing, spend analytics, and holistic cost‑of‑ownership approaches.

Most important to recognize is that procurement transformation (even at a small school) doesn’t require a massive budget. Even the small initial steps—improving workflows, consolidating vendors, or using cooperative tools—can reap significant, lasting benefits.

About the Authors

Jon Kokos and Mike Price are Sourcing Consultants with E&I Cooperative Services , the only nationwide, member-owned, non-profit procurement cooperative focused exclusively on education.

Jon has more than 21 years of experience in higher education finance, where most recently he was CFO and Vice President for Business & Finance at Newberry College. Prior to this he was Vice President of Finance & Business Affairs, Chief Financial Officer, and Treasurer at Lees-McRae College. Early in his career, Jon held financial positions at Catawba Valley Community College, Gaston College, and Point Park University.

Mike has more than 30 years of experience in higher education, including several years as Chief Financial Officer at both Crown College and Bethel University. Prior to this, he spent 25 years leading successful higher-education enrollment teams that consistently exceeded institutional enrollment goals.

Meet the E&I Team at ABACC 2026 in Lake Buena Vista, Florida!

How to Set Up an Endowment Fund for a Nonprofit

Thu, 15 Jan 2026 05:00:16 GMT

Endowment funds for nonprofits are a vital tool for long-term stability and mission growth.

By creating an endowment for a nonprofit, organizations can ensure that resources are available not only today but also for generations to come. Establishing an endowment requires thoughtful planning, sound investment strategy, and a commitment to faithful stewardship. In this article, we’ll explain what an endowment fund is, why it matters, how to set one up, and key considerations for managing it well.

What Is an Endowment Fund?

An endowment fund is a pool of donated assets invested to generate income for a nonprofit organization. Unlike annual giving or short-term campaigns, an endowment is designed to provide a permanent source of financial support. To assist with the endowment lasting in perpetuity, only a portion of the endowment’s value is distributed each year to support the nonprofit’s mission. The endowment’s distribution amount is set at a level such that the long-term average investment returns can cover distributions plus inflation.

For ministries, schools, or other charitable organizations, endowment funds for nonprofits represent more than financial security—they represent a long-term commitment to steward resources wisely for Kingdom impact.

Why Endowment Funds for Nonprofits Matter

Building an endowment fund offers several benefits:

Stability in Changing Times: Endowments create a stream of cash flow that helps organizations weather fluctuations in donations or economic downturns.
Support for Mission Expansion: By providing ongoing funding, endowments empower nonprofits to plan strategically and expand programs with confidence.
Donor Confidence: Donors often view nonprofits with endowments as well-managed and sustainable, encouraging larger and longer-term gifts.
Alignment with Stewardship Principles: For faith-driven organizations, endowments are a way to demonstrate faithful stewardship of God’s resources—making sure today’s gifts continue to serve tomorrow’s needs.

Steps to Creating an Endowment for a Nonprofit

Establishing an endowment is a thoughtful process. Here are the key steps:

1. Clarify the Purpose and Vision

Before launching an endowment, your board should define the fund’s purpose. Is it to support general operations, a scholarship program, or a specific ministry initiative? Having clarity ensures alignment between the endowment and your mission.

2. Develop an Endowment Policy

Policies provide the framework for how the endowment will be managed. This should include:

Spending Policy: How much will be distributed annually.
Investment Policy: Guidelines for risk tolerance, asset allocation, and faith-based investment screens if applicable.
Gift Acceptance Policy: Defining what types of gifts (cash, securities, real estate) will be accepted.

3. Secure Initial Funding

Many nonprofits begin with a seed gift or campaign to raise initial capital. Some boards set a minimum threshold before officially launching the fund. Early support from major donors can provide momentum.

4. Partner with Experienced Investment Managers

Working with a trusted financial partner is essential. Professional investment management ensures the fund is stewarded with both prudence and growth in mind. For many nonprofits, this means partnering with an outsourced chief investment officer (OCIO) who can provide specialized expertise and align investments with biblical values.

5. Educate and Inspire Donors

Communicate the vision of the endowment to your supporters. Emphasize the eternal impact of gifts that keep giving year after year. Provide examples of how the endowment will sustain ministry or programs for generations.

6. Monitor, Report, and Adjust

Once established, the endowment requires ongoing oversight. Regular reporting to the board and donors builds trust and transparency. Periodic reviews of the investment policy and spending rules keep the fund aligned with organizational needs.

Key Considerations for Endowment Success

While the steps above provide a roadmap, several considerations are essential for long-term success:

Governance and Oversight: The board plays a critical role in ensuring policies are followed and the fund is aligned with the mission. Some nonprofits create a dedicated endowment committee.
Balancing Growth and Preservation: An endowment is a long-term vehicle. Balancing risk and return is vital to preserve the principal while generating sustainable income.
Faith-Aligned Investing: For Christian organizations, ensuring investments reflect biblical values adds integrity and consistency to the mission.
Communication with Stakeholders: Endowments can sometimes be misunderstood. Proactive communication helps donors and staff see the fund as a tool for mission stability, not as “money that sits unused.”

The Long-Term Impact of Endowment Funds for Nonprofits

When managed wisely, endowment funds can transform an organization’s future. They provide confidence to dream bigger, assurance to plan long-term, and stability to serve through seasons of uncertainty. For nonprofits guided by faith, an endowment is more than financial security—it is a way of ensuring God’s resources are used faithfully today and tomorrow.

Conclusion

Setting up an endowment requires careful planning, sound policies, and experienced partners, but the rewards are lasting. Endowment funds for nonprofits create a legacy of impact, ensuring that an organization’s mission can flourish for generations.

This article was adapted from our partner, Cornerstone Management . They have decades of experience helping ministries and nonprofits establish and steward endowments that align with their mission and values.

Ask a School Insurance Underwriting Expert: What Are Some of the Main Liability Concerns Now That Winter Is Upon Us?

Thu, 11 Dec 2025 05:00:38 GMT

Question: Weather extremes have become a more frequent topic of discussion at conferences and among top administration at our school. What are some of the main liability concerns now that winter is upon us?

For many U.S. colleges, key winter risk management liability issues primarily revolve around premises safety and the associated duty of care , including potential liability for personal injuries (e.g., slip and fall accidents) and property damage.

Question: Can you provide some examples of key liability issues to which we need to pay special attention?

Premises Liability (Slip and Fall Accidents)

This is arguably the most significant winter risk. Colleges have a duty to maintain safe premises for students, staff, and visitors.

Snow and Ice Removal: Failure to adequately and promptly remove snow and ice from walkways, parking lots, stairs, and building entrances can lead to slip and fall injuries.
Inadequate Maintenance: Liability can arise if walking surfaces are uneven, poorly lit, or if melting snow refreezes into black ice due to poor drainage or lack of proper salting/sanding procedures.
Insufficient Procedures: Lack of documented, consistent snow and ice management protocols (e.g., who is responsible for which area, response times, monitoring) can be a major liability in a lawsuit.

Negligence in Operations (Duty of Care)

Forcing Travel in Dangerous Conditions: Colleges that do not cancel classes despite severe weather may face negligence claims if students or staff are involved in accidents while commuting to or from campus. This includes individuals in college-owned or personal vehicles used for university business.
Ensuring Essential Services: Colleges must ensure that essential services and infrastructure (e.g., heat, running water) remain operational to prevent health and safety issues for on-campus residents.
Emergency Communications: Failure to have a clear and effective communication plan for weather-related closures, emergencies, and resource availability can create additional liability.

Property Damage

Infrastructure Failure: Severe winter weather can cause frozen/burst pipes, roof collapses from heavy snow loads, and other facility damage. Liability can stem from deferred maintenance or failure to take reasonable preventative measures (e.g., proper building winterization).
Natural Disasters: The increasing frequency of severe weather events (including intense winter storms) due to climate change presents significant risks and challenges for institutions in ensuring adequate insurance coverage and proactive risk mitigation strategies.

Question: How should we organize our efforts to limit these risks?

Risk Management Considerations

Clear Policies and Procedures: Having well-defined, regularly reviewed, and consistently enforced policies for winter operations is crucial.
Documentation: Meticulous documentation of snow and ice removal efforts, maintenance records, and communication logs can serve as key evidence in the event of a lawsuit.
Training Programs: Ensuring that facilities management, safety personnel, and all relevant staff receive proper training on winter safety and response protocols.
Insurance Coverage: Collaborating with risk management and insurance providers to ensure adequate general liability and property insurance coverage is in place for winter-related incidents.
Balancing Safety and Operations: Institutions must balance the need for campus operations with the primary concern for the safety of the entire campus community, which may involve making the difficult call to close campus or move classes online.

Reducing the Deficit, Creating Savings, Amid Enrollment Challenges

Thu, 13 Nov 2025 05:00:45 GMT

In October, Ithaca College partnered with the Huron Consulting Group to conduct a comprehensive budget and resource planning study aimed at addressing declining enrollment and a growing budget deficit. The study is expected to inform the Fiscal Year 2026 budget, due in May 2025. While some faculty and staff are concerned that the study may lead to job cuts, President La Jerne Cornish emphasized that the initiative is not solely focused on cost reduction, stating, “the college cannot cut its way to success.”

Deficit and Enrollment Challenges

Ithaca College has faced a budget deficit for three consecutive years due to a mismatch between its expense base and enrollment-driven revenue. Historically, the college enrolled 1,600–1,700 new students each fall, but numbers dropped significantly after the COVID-19 pandemic. Despite expectations of a rebound, only 1,128 new students enrolled in Fall 2024, missing the target by about 200 students and contributing to a projected $12 million deficit for FY 2025.

National trends compound the issue. While overall undergraduate enrollment rose by 3% in Fall 2024, first-year enrollment declined by 5%, and private institutions like Ithaca saw a ~6.5% average drop. The U.S. is also approaching an “enrollment cliff” in 2025/2026, as fewer graduates are pursuing college, and older students are less likely to return after entering the workforce.

Of course, private liberal arts colleges are particularly vulnerable due to perceptions of higher cost and a shift in student interest toward pre-professional fields. Ithaca College had a $373.7 million endowment and $99.2 million in cash reserves last school year, but it does not want to rely on these funds annually.

The Huron Consulting Group Study

The Huron study began in early October and involved regular meetings with college leadership, including weekly sessions with campus leadership, and monthly steering committee discussions. The study’s base cost is $700,000, with potential increases due to travel and other reimbursables.

Huron is tasked with helping the college reduce its $10 million deficit by identifying non-essential services and recommending potential staff reductions. Eliminating services would also eliminate associated workloads, preventing redistribution of tasks to remaining staff. But Ithaca may have little staff to cut, because past cuts have already increased workloads and stress among staff.

In addition to cost-cutting, the college is exploring revenue-generating opportunities. Ithaca's Provost and senior vice president for Academic Affairs is leading an academic program review with Hanover Research to identify growth areas, particularly in graduate education. Recent additions include a physician assistant program launched in 2021 and a part-time online speech-language pathology program introduced in Fall 2024.

Huron is also helping the college reallocate existing budget funds to cover rising costs, such as salaries, food, and energy. Ithaca acknowledges uncertainty about the extent of reallocation needed but emphasized the importance of thoughtful planning to ensure long-term sustainability.

Community Impact and Future Outlook

Ithaca College has stressed that the college’s leadership is committed to making informed decisions, even if they are unpopular, to secure the institution’s future. The school acknowledges the emotional toll of budget cuts and the importance of transparency and community engagement throughout the process.

The college aims to stabilize enrollment at 1,200 new students per year, with 1,100 considered a lower guardrail. Huron’s analysis will help refine enrollment assumptions, including retention rates and discount rates, to improve budget accuracy.

Ultimately, the study seeks to align Ithaca College’s operations with its financial realities, potentially resulting in a smaller institution with fewer offerings but greater sustainability. In a statement, Ithaca College emphasized that the goal is not to do more with less, but to focus on what is essential to the college’s mission.

E&I Can Help Facilitate Savings

With growing budget constraints and an urgency to increase savings and demonstrate fiscal responsibility, having access to partners who can dive deep into your finances and help identify solutions is a key step in improving efficiency and helping you focus on what really matters.

E&I Cooperative Services helps educational institutions access competitively solicited, cooperative contracts and procurement solutions. E&I’s solutions vary across categories, ranging from professional services, to technology, athletics, and even research and healthcare.

E&I can also help with cost studies and pricing analyses that enable institutions to identify added opportunities to create dollars needed to support initiatives on campus. Just recently, during a pilot program and pricing analysis with the NCAA, E&I was able to help institutions realize an average of 28% across categories. ABACC members can partner with E&I in our price study designed to help members find unique opportunities across their campus.

Connect with Bruce Hoeker to join the study.

Connect with E&I by calling 1.877.MYEANDI if you have any questions or want to partner on a project.

3 Ways Colleges Can Make Campus Tours More Appetizing

Fri, 10 Oct 2025 15:23:26 GMT

In the competitive landscape of higher education, attracting prospective students is paramount.

While academic programs, campus culture, and faculty reputation often take center stage, dining is an often-underestimated factor that can significantly influence a student’s decision. For many students, the campus tour is their first tangible experience of college life, and what they see (and taste!) in the dining hall can leave a lasting impression.

Here’s how exceptional dining services can be a powerful tool for attracting students during campus tours.

The “Taste of College Life” Experience

During a campus tour, students are trying to envision themselves living there for the next several years. While dorm rooms, lecture halls, and libraries are important, the dining hall is where they’ll likely spend a significant amount of their social and personal time. A positive dining experience during a tour offers a tangible “taste” of what daily life could be like.

Tour the Social Hot Spots on Campus

A key factor for students is feeling connected to their potential new community. By showcasing the areas where they’ll share meals and socialize, you help them imagine their daily life, solidifying their sense of belonging and making the school feel like their own.

Visit the Dining Hall & Retail Locations

Many prospective students (and their parents) have preconceived notions about “college food” – often involving bland, uninspired options. Showcasing diverse, high-quality, and innovative menus can shatter these stereotypes and get them excited about staying on campus.

Addressing Key Student (and Parent!) Concerns

Make sure your tour guides are able to articulate and answer questions about key concerns prospective students and parents have about eating while on campus.

Health & Wellness

Today’s students are more health-conscious than ever. Highlighting fresh, locally sourced ingredients and healthy meal options can be a major selling point. Demonstrate a commitment to accommodating dietary restrictions and food allergies , as this is a growing concern for many families.

Variety & Choice

No one wants to eat the same thing every day. Showcase the breadth of options available – from international cuisine stations and made-to-order concepts to grab-and-go selections and late-night dining. This demonstrates flexibility and caters to diverse tastes.

Value for Money

Parents covering their student’s expenses know the cost of tuition, room, and board is a significant investment. Highlighting the quality, value, and convenience offered by the dining plan can reinforce that their child will be well-nourished and supported.

Making Dining Services a Tour Highlight

Strategically Schedule Dining Hall Visits

Whenever possible, incorporate a visit to the main dining hall during meal times. This allows prospective students to see the vibrant atmosphere and the full range of options in action. If meal times are too busy or the dining hall is closed, organize time with the head chef or food service manager to walk through the food options and display the menus for your tour group.

Offer a Sample Meal

Offering prospective students (and their families) a complimentary meal in the dining hall gives them a hands-on experience that is incredibly impactful and allows them to assess the food quality and atmosphere.

Empower Tour Guides

Ensure tour guides are knowledgeable and enthusiastic about dining services. They should be able to describe special events, the variety of options, and how dining contributes to the overall student experience.

Showcase Sustainability Efforts

Many students are passionate about sustainability, and dining plays an important role. Highlight initiatives like composting, waste reduction programs , and partnerships with local farms.

Learn How Your Dining Program Can Attract Prospective Students

While academics will always be the primary draw, the quality of campus dining services plays a surprisingly significant role in a student’s overall perception of a university. At Creative Dining Services, we believe that when dining is an intentional component of the campus tour experience, you can tip the scales in favor of your college or university for prospective students.

Contact us to learn ways to help turn prospective students into enrolled ones.

Ask a School Insurance Underwriting Expert: Today’s Basics in Campus Security

Mon, 15 Sep 2025 20:01:46 GMT

Question: We are currently reviewing our campus security protocols to enhance both the actual and perceived safety of our students. What is a good first step?

Your school should review its current security plan to ensure its components cover common threats and those unique to your own campus. Trained security personnel, the placement of cameras at strategic locations, good lighting, and buildings with secure access controls are all within the immediate control of your institution. When these measures are combined to include the regular, visible patrol of security personnel, the sense of security felt by students, parents, visitors, and staff can all be positively impacted. But these elements must be placed into a comprehensive security plan that contemplates these particulars and much more.

Question: What are the essential components of a comprehensive security plan?

Overall security requires a multi-faceted strategy that addresses prevention, preparedness, response, and recovery for a variety of potential risks. Collaboration between multiple stakeholders, including campus police/security, administrators, staff, students, and local emergency services, is required to best understand available resources for identifying and responding to a variety of hazards. The plan should include:

Assessment and mitigation of risks
Emergency operations and incident response
Training and drills
Physical security measures
Behavioral and mental health support
Personal safety programs
Regulatory compliance

The identification and assessment of risk is an ongoing process. The treatments used in prevention and mitigation must be monitored and reassessed at regular intervals to ensure an optimized approach in an environment that changes and evolves over time.

Question: In addition to physical security measures and coordination of campus and community resources, what are some tools that enhance safety, response time, and after-incident support?

Communication is key. Your security plan should provide simple, clear, and actionable instructions for the entire campus community on what to do during an emergency. This includes procedures for evacuation, shelter-in-place, and lockdown scenarios.

Personal Safety Programs on Campus Can Include:

Mobile safety apps: Many universities provide mobile apps, such as Arizona State University’s LiveSafe app, that offer interactive maps, emergency contacts, and GPS tracking features.
Escort services: Safe-ride or safety-escort services are offered for students traveling on campus, especially at night.
Safety devices: Some universities offer free personal safety alarms and window/door alarms to students.
Education: The plan includes educational initiatives on topics like bystander intervention, situational awareness, and alcohol and drug abuse.
Emergency call stations (often “blue light” phones) are placed strategically around campus to provide immediate, visible access to campus police.

Training and Drills:

Regular training: Faculty and staff should receive regular training on emergency procedures. This includes how to respond to active threats, provide basic first aid, and effectively use safety-focused technology.
Emergency drills: Your plan should mandate regular, scheduled drills for fire, lockdown, and severe weather to ensure the campus community knows how to react instinctively in an emergency.
Online resources: Training modules and informational materials are often made available online and through social media to reinforce safety protocols for all students and employees. Enlist the assistance of student-run publications and forums to raise awareness of these resources and why they are important.

Emergency Operations and Incident Response:

Take an all-hazards approach: Plans are created to address a wide range of incidents, including active threats, severe weather, fires, and medical emergencies.
Coordination framework: It establishes a clear chain of command and assigns roles and responsibilities to campus emergency response teams.
Crisis communication: The plan details methods for quickly notifying the campus community during a crisis, such as text alerts, sirens, and email. Many colleges and universities automatically enroll students to receive security text alerts, but allow them to opt out. Other schools prefer email as the primary communication method with their students and may choose an opt-in for texts. Under the Clery Act, all colleges and universities must have some kind of emergency notification system in place.

Heightened attention to security is an imperative at today’s colleges and universities. Parents and students can be counted upon to weigh this in similar measure to academic prowess, given today’s societal considerations. This expectation also raises the stakes for an institution with respect to liability and reputation. An ongoing reassessment of your security risk profile can be aided by exploring how other campuses of similar size and location (such as urban versus rural) address these exposures to help keep your plan sharp and current.

Mastering Technology Procurement: Best Practices for Buyers at Educational Institutions

Mon, 11 Aug 2025 18:21:21 GMT

The rate at which technology is embedded in academic institutions is incredible, and the change has happened quickly.

While colleges and universities have typically led the way, local school districts are also investing heavily. Since 2020, EdTech use in K–12 schools has increased by 99%.

Staying on top of evolving tech, however, is not easy. 45% of procurement leaders surveyed said it’s one of their institution’s biggest challenges. The high rate of change, especially in AI-embedded products, makes it difficult to source the best tech. So, defining exactly what is tech procurement and how to source the best products at the lowest cost is a big job.

Done well, technology investments will align with institutional goals, support compliance requirements, and provide long-term value. Done poorly, it can lead to inefficiencies, budget overruns, and expensive mistakes.

Why Technology Procurement Is Different in Education

Unlike the private sector, where speed and agility often take precedence, education buyers must navigate complex stakeholder ecosystems. Technology purchases typically require collaboration among IT, academic departments, administration, finance, and procurement, and each has its priorities.

At the same time, institutions must comply with public accountability standards, competitive bidding requirements, and data privacy laws. All of this occurs within a limited budget cycle that may not always align with evolving technology trends.

And these trends are changing fast .

“Fully half (50%) of institutions are increasing access to AI tools, 38% are adapting generative AI models for internal use, and 37% are funding faculty, staff, or student licenses for AI-powered tools.” — Educause research on AI in higher ed

This explosion in AI-related solutions is reshaping the technology procurement landscape. What was once a relatively stable marketplace of learning platforms and administrative systems has become a fast-moving environment filled with evolving features, embedded AI, and suppliers who are pivoting to provide cutting-edge solutions.

All of this makes the education procurement process more challenging.

Technology Procurement Best Practices for Academic Institutions

To successfully manage buying cycles, procurement teams can employ a series of technology procurement best practices .

Engage Stakeholders Early

Procurement teams must work closely with IT leaders, faculty, administrators, and student services to understand the real needs before considering any specific suppliers. You need the right solution that works across stakeholders to get buy-in and drive long-term value.

Build a Long-Term Vision

A smart tech investment goes beyond fulfilling today’s needs and focuses on where your institution is going. Asking the right questions can help:

Will this tool scale to support more users?
Can it integrate with future systems or analytics platforms?
Is the supplier stable and forward-thinking?
What does their future product development roadmap look like?

Evaluating technology for long-term value ensures you avoid short-term fixes that become tomorrow’s headaches. This is especially important in areas like AI, where capabilities and use cases continue to evolve rapidly.

Consider Total Cost of Ownership (TCO)

The sticker price of a tool rarely tells the full story. TCO includes implementation, customization, training, support, renewal, and eventual replacement or migration costs.

Ask suppliers for full pricing transparency and create financial models that account for multi-year costs. A slightly more expensive solution with better support and lower maintenance could yield stronger ROI over time.

Use a Formal Evaluation Framework

Before comparing vendors, develop a consistent rubric to assess:

Alignment with academic and operational goals
Integration with your existing tech stack
Accessibility and compliance
Cybersecurity protocols
Training and support options
Vendor reputation and stability
Scalability and mobility

When possible, allow for sandbox testing or pilot programs to evaluate usability and performance in a real environment.

Manage Risk Through Compliance and Contract Strategy

Education buyers must always make sure that technology solutions meet institutional risk and compliance requirements. This includes data governance, privacy laws, accessibility standards, and uptime/service level guarantees.

Contract terms should define ownership of student data, exit provisions, uptime expectations, and vendor obligations during upgrades or outages. Don’t overlook the importance of service level agreements (SLAs) and clear escalation paths for support.

Streamline Where Possible

Many institutions face tool sprawl . It’s a common scenario where resources have been deployed for short-term projects or one-time uses and become part of the tech stack. Legacy systems often linger, even if they don’t integrate well with new resources.

A more centralized approach, with integrated platforms and consolidated purchasing, can reduce redundancies and costs while improving user experience. Creating a tech roadmap and procurement calendar helps avoid reactive purchasing and supports a more coordinated strategy across departments.

Cooperative Purchasing: A Smarter Path to Tech Procurement

With thousands of vendors and fast-evolving technologies to consider, cooperative purchasing offers strategic advantages.

E&I Cooperative Services empowers education institutions to access pre-vetted contracts with high-performing suppliers, saving time and reducing procurement risk. These contracts meet public procurement standards and streamline the purchasing process by eliminating the need for institutions to conduct their own RFPs, while still ensuring full compliance.

Cooperative agreements also provide access to pricing that reflects aggregated demand, delivering volume discounts that individual academic institutions can rarely (if ever) achieve. Because E&I focuses exclusively on the education sector, we can negotiate terms that address the unique needs of academic institutions.

Perhaps most importantly, E&I’s category specialists and experienced procurement experts can help you stay ahead of the curve by providing insight into emerging technology and helping you make smarter investments faster.

Ready to secure the contracts you need for every technology challenge? Explore E&I’s education-focused technology cooperative contracts , or apply for membership to support smarter technology adoption.

Enrollment Strategies for CFOs

Thu, 10 Jul 2025 18:50:01 GMT

Chief Financial Officers (CFOs) play an increasingly vital role in driving enrollment revenue and ensuring long-term financial sustainability—particularly in Christian higher education.

By engaging deeply with the financial levers behind student recruitment, retention, and program performance, CFOs can help their institutions make smarter budget decisions and more strategically position themselves in a competitive market.

At the 2025 ABACC Conference, my colleague Stuart Spires and I had the privilege of sharing our session, The Top 10 Ways CFOs Can Impact Enrollment Revenue. Below are key highlights from our presentation, including strategic actions CFOs can take to lead enrollment-driven financial growth on their own campuses.

1. Optimize Net Tuition Revenue

Understanding and regularly assessing net tuition revenue per student is foundational. It should inform budget development, aid packaging strategies, and institutional pricing models. Your financial aid policies must be reviewed regularly to ensure aid is dialed to deliver the greatest enrollment and financial return, meaning you are not giving away too much or too little.

2. Steady Leadership and Vision

In times of uncertainty, consistent leadership matters. Understand that high turnover in enrollment leadership can lead to loss of institutional knowledge and continuity. Determine the key positions within senior and middle management, fund those positions sufficiently, and encourage professional development.

3. Partner Closely with Your Chief Academic Officer (CAO)

Academic offerings drive enrollment. Strategic collaboration with your CAO can lead to program investments that align with student demand and financial viability. While expanding programs or adding modalities can grow revenue, CFOs must weigh these decisions against long-term sustainability and cost.

4. Find the Right Fit—Athletically

Athletics can support enrollment growth, but not always in the ways institutions expect. A recent Urban Institute study revealed that over 50% of small colleges experienced enrollment growth without additional investment in athletics. Athletics can diversify your student body, but starting or expanding programs requires major investment—facilities, staff, scholarships—which must be weighed carefully against expected return.

5. Ensure Accurate and Timely Data Management

Can you trust your data? Without reliable reporting on enrollment trends, financial aid performance, and student retention, your ability to make timely budgetary decisions is compromised. CFOs should advocate for integrated data systems and invest in analytics to support proactive planning.

6. Prioritize Recruitment in Budget Allocation

Admissions and recruitment are revenue-generating functions, not cost centers. A 2023 NACCAP survey showed its Christian member institutions spent an average of $4,937 per recruited student. Understanding cost-to-recruit metrics can help institutions set realistic enrollment targets and appropriately allocate resources to the most effective recruitment channels.

7. Know the Difference Between Realistic vs. Reach Goals

It’s critical to ground enrollment projections in historical performance, market realities, and data—not just aspirations. Overly optimistic goals can lead to budget shortfalls, while too-conservative projections may limit investment in high-potential areas. CFOs can guide leadership toward the right balance.

8. Understand How Capital Expenses and Deferred Maintenance Affect Enrollment

The condition of your campus influences prospective students’ decisions. Aging infrastructure, deferred maintenance, or under-resourced facilities can negatively impact the student experience and enrollment yield. CFOs should consider how facility investments—or lack thereof—factor into recruitment and retention. Consult closely with your VPE in how to best showcase your institution.

9. Fund the Student Experience

Beyond academics and athletics, today’s students expect a holistic campus experience. That includes mental health resources, co-curricular programming, career development, and campus ministry—especially in Christian colleges. Investing in student well-being and engagement not only improves retention but reflects the mission-centered values students and families seek.

10. Embrace Third-Party Partnerships When They Make Sense

Outsourcing doesn’t mean losing control—it can mean broadening capacity. Whether it's enrollment marketing, financial aid optimization, or IT infrastructure, third-party providers can offer scale, expertise, and innovation that smaller institutions may struggle to build internally. CFOs can lead the charge in evaluating vendor partnerships that enhance both efficiency and outcomes.

Final Thoughts

Enrollment growth is no longer just an admissions issue—it’s a campus-wide imperative. For CFOs, this means taking a more strategic, integrated role in decisions that shape the student lifecycle. By aligning budget priorities with institutional mission and enrollment strategy, CFOs can help Christian colleges navigate a complex landscape while staying true to their faith-based calling.

If you want to discuss how you might implement these strategies on your campus, reach out and we will be happy to discuss your goals and challenges.

What Would Happen to Student Loans if the Department of Education Closes?

Mon, 09 Jun 2025 20:08:24 GMT

Recent reports have surfaced regarding efforts to dismantle the U.S. Department of Education.

While such a move would require congressional approval, discussions have already begun about shifting its responsibilities—including the management of federal student loans—to other agencies. For financial aid professionals, understanding the potential implications of such a transition is crucial.

Federal Student Loans Would Likely Continue but with Disruptions

The closure of the Department of Education does not mean that federal student loan programs would disappear. According to Karen McCarthy, Vice President of Public Policy and Federal Relations at the National Association of Student Financial Aid Administrators, borrowers would still be responsible for repaying their loans. The federal student loan portfolio, currently valued at approximately $1.7 trillion, would likely be transferred to another federal agency, such as the Department of the Treasury, the Small Business Administration or a combination of agencies considering the technology and expertise required to maintain these programs.

However, transitioning such a vast loan portfolio would be complex and could cause significant disruptions for borrowers. Loan servicing platforms, repayment plans, and borrower assistance programs could all experience delays and inefficiencies. Financial aid professionals should prepare for potential challenges in helping students and alumni navigate these uncertainties.

Challenges in Loan Servicing and Repayment Programs

If the Department of Education’s functions are reassigned, borrowers could face complications in managing their student loans. Recent workforce reductions, court filings, and executive orders targeting the Department of Education and its programs have already impacted key loan servicing programs. For instance:

Income-Driven Repayment (IDR) Plans: Some of these plans have been temporarily closed to new applicants due to a court order, leaving many borrowers without access to repayment schedules tailored to their financial circumstances.
Total and Permanent Disability Discharge Program: This initiative, which forgives loans for eligible borrowers with disabilities, has been paused due to a servicing transition. While it is expected to resume, ongoing federal staffing cuts could delay its reinstatement and the processing time related to each application.

Transferring student loan responsibilities to another agency could further complicate these issues, especially given existing concerns about loan servicer errors, inaccurate billing, and delays in processing relief applications.

What Financial Aid Professionals Can Do

In light of these developments, financial aid offices should take proactive steps to support borrowers:

Encourage Borrowers to Update Their Information: Students and alumni should ensure their loan servicers have their current contact details to avoid missing important updates.
Promote Enrollment in Repayment Plans: Borrowers should get into repayment plans that fit their long-term financial needs before any potential transition occurs. Inaction may only cause further issues, especially as the application windows are impacted by ongoing changes and litigation surrounding these programs
Monitor Legislative Developments: While the proposed closure of the Department of Education is uncertain, financial aid professionals should stay informed about policy changes that may impact loan management.

While discussions around the closure of the Department of Education continue, federal student loans remain a critical concern for borrowers and financial aid professionals alike. Accurate exit counseling and adequate support during the key transition periods that borrowers experience from graduation to repayment are key to the success of students and the ongoing maintenance of Cohort Default Rates by schools. By staying informed and advising students on best practices, financial aid offices can help mitigate potential disruptions and ensure borrowers remain on track with their repayment obligations.

This article was adapted from our partner, The Higher Education Assistance Group (HEAG) . HEAG is a trusted source for unbiased information, and we continue to leverage the wealth of experience from our staff and advisors to assist and support financial aid professionals navigating this information as it is being published. Anyone seeking guidance or support should reach out with confidence at info@heag.us for assistance in processing this information and keeping up-to-date regarding best-practices.

Maximizing Education Cost Savings with a Cooperative Buying Strategy

Wed, 14 May 2025 13:13:04 GMT

In April, ABACC and E&I announced a new partnership with Staples.

For many years, Staples has been a trusted business partner of E&I. Through this relationship, ABACC was able to create a value-add partnership with Staples, providing ABACC with an unprecedented opportunity to create cost savings while driving revenues. This is just one example of the role a purchasing cooperative can play for your business office.

The Role of the Purchasing Cooperative

Holding the line on costs when prices continue to rise can be challenging, to say the least. With increasing pressure on budgets, maintaining quality and compliance without overspending is a tough balancing act for procurement teams.

Cooperative buying offers a solution by enabling your institution to leverage collective purchasing power to achieve volume discounts you likely cannot achieve on your own. A national cooperative purchasing alliance can help you streamline your procurement, meet compliance goals, and significantly reduce your costs.

Bobby Bounds, Executive Director of Procurement Services at Texas A&M University , knows the value firsthand. “By strategically leveraging purchasing cooperatives and GPOs, we’re able to enhance our procurement processes,” Bounds said. “Not only that, but we’re able to achieve some significant cost savings and improve the overall quality of our procurement services as well as the efficiency.”

Understanding the Full Savings Potential

The value proposition of cooperative buying extends far beyond basic discounts. Direct cost savings through pre-negotiated pricing represent the most visible benefit, with discounts up to 25%. However, this is just part of the potential value.

By eliminating the need to develop specifications, conduct solicitations, and evaluate proposals for every category, you can redirect procurement staff toward more strategic initiatives. Cooperative contracts can often reduce procurement cycles from months to days. You can also mitigate risk through pre-vetted suppliers and legally reviewed terms to streamline compliance.

These combined factors frequently exceed the direct pricing advantages.

Developing a Category-Specific Approach

Strategic procurement professionals analyze spending categories to identify optimal cooperative buying opportunities.

For example, technology and IT infrastructure typically yield substantial cooperative purchasing advantages due to standardized specifications and significant volume leverage. A national cooperative purchasing alliance like E&I Cooperative Services offers a robust technology contract portfolio that aggregates demands across institutions and is supported by category specialists who understand your needs. Prioritizing cooperative solutions for infrastructure upgrades or device replacements can yield significant cost savings.

Another high-impact category is classroom furnishings. An education-focused cooperative like E&I will competitively solicit contracts for education-specific configurations, warranty terms, and delivery coordination around academic calendars. Facility maintenance supplies and services also benefit from the cooperatives’ ability to establish consistent quality standards and performance metrics across diverse maintenance needs.

The most effective cooperative buying strategy analyzes each category based on standardization potential, volume advantage, and internal expertise to determine the optimal sourcing approach.

Implementation Strategies for Maximum Savings

Academic institutions should conduct a comprehensive analysis of available cooperative portfolios, mapping contracts to spending categories and identifying coverage gaps or overlaps.

Consolidating and Bringing More Spend Under Contract

Looking for areas where you can consolidate spending to achieve greater volume discounts (and reduce supplier management) can lower costs. Finding areas where you can tame rogue spending or bring more purchasing under contract almost always produces better results.

Planning for Emergencies

For emergency purchases or urgent requirements, having pre-established cooperative contracts that are ready to go provides both savings and crucial time advantages compared to expedited independent procurement.

Active Member Participation

The most successful educational institutions actively participate in cooperatives to get the biggest bang for their buck. You can leverage the collective wisdom of your peers and take part in online communities, webinars, and other resources to find innovative strategies.

Active participation makes sure your needs are known, which can help shape future sourcing strategies by the cooperative and ensure your needs are met.

Building Supplier Relationships

Even with cooperative buying, it’s important to build relationships with your suppliers. Strong relationships can produce innovative solutions, influence product development roadmaps, and create faster resolutions to any concerns that arise.

In recent months, ABACC was able to utilize an E&I relationship and existing contract to help expand benefits to ABACC members. This agreement provides added rebates and opportunities for ABACC members to generate revenue as a united entity.

An Education-Focused National Cooperative Purchasing Alliance

E&I represents more than 6,000 colleges, universities, and school districts, leveraging their collective buying power to negotiate significant volume discounts and terms favorable to academic institutions. Cooperative contracts often include exclusive incentives and rebates that can stretch your procurement dollars further. E&I also offers patronage refunds , sharing proceeds with members based on annual participation.

While there are many national cooperative purchasing alliances, there is only one member-owned nonprofit sourcing cooperative that focuses solely on the education sector and that’s E&I Cooperative Services. In 2024, E&I members made over $3 billion in purchases through the cooperative. Because of its structure as a cooperative, E&I is able to provide members with rebates, incentives, and patronage. As a result of 2024 performance, E&I will provide a total of $7 million to members in either cash or certificates of equity in 2025.

Learn More

When working with a purchasing cooperative like E&I, you often have a dedicated representative to help you with current and future projects. The representatives can serve as a branch of your purchasing/procurement teams.

To partner on your next project with E&I, connect with your rep ! Join E&I and Staples at the June 4, 2025, webinar to learn more about the new ABACC specific agreement.

Automation & AI Are Fast Becoming Critical in Higher Education

Wed, 09 Apr 2025 20:54:06 GMT

Higher education is quickly becoming an increasingly complex landscape, one marked by uncertainty and rapid transformation.

For institutions, the pressures of change seem relentless. The number of high school graduates is expected to decline by 13% between 2025 and 2041; employers are increasingly turning to skills over degrees, which signals a shift in workforce demand; changes in government are leading to shifts in educational funding; and more. As trends like these converge, many universities find themselves competing for students, for staff, for funds, and for relevance.

But as the higher education landscape evolves, so too do the opportunities. Amid these opportunities lies the transformative potential of automation and, separately, artificial intelligence (AI). While many institutions are still working to integrate these technologies into day-to-day operations, those that successfully embrace automation and AI may be positioned to innovate across a wider range of areas.

Automation Tools Power Institutional Adaptability

While many institutions strive to automate processes as a means to reduce costs and streamline operations, the true value of automation technologies lies beyond their ability to boost efficiency; they enhance adaptability. In a landscape marked by shifting student needs, market demands, and educational trends, universities must be able to pivot quickly—and automation powers that flexibility.

Automating key workflows, such as enrollment and retention outreach, doesn’t just free up time for staff—it enables institutions to respond to changing conditions without missing a beat. Workflow automation tools enable universities to continuously optimize and improve processes. These systems support real-time adjustments, giving institutions the agility to tweak processes, engage students, and respond to new opportunities as they emerge. The result isn’t just cost savings, but a more responsive, flexible institution.

AI Can Drive Agility

AI and automation further enhance institutional adaptability by enabling teams to make smarter, data-driven decisions. For example, predictive analytics solutions that use AI can analyze a wide range of student data—academic performance, attendance, engagement, etc.—to identify students at risk of falling behind or dropping out. Once at-risk students are identified, institutions can intervene proactively with tailored support services, personalized communication, or even alternative learning pathways.

Some AI tools also support more efficient course scheduling and advising by using historical data to forecast demand for specific classes, ensuring that institutions can offer the right courses at the right time. AI-powered chatbots, on the other hand, are emerging as a huge driver of agility. Unlike static, rules-based chatbots, AI chatbots that use natural language processing and machine learning can evolve as they “learn” from student interactions. They analyze the questions students ask, recognize patterns, and adjust responses accordingly, ensuring that the support offered is relevant and timely.

Aligning Automation and AI for Long-Term Success

While many universities have embraced automation technologies, there remains hesitation when it comes to AI. For universities to remain agile and competitive in a tumultuous higher education landscape, these technologies must work in tandem.

Automation tools are already helping institutions become more efficient by handling routine tasks and improving workflows. But when combined with AI, these tools can elevate that efficiency and adaptability. Several institutions are already taking significant steps in this direction. Some are adopting AI chatbots to offer 24/7 support for students, others are experimenting with Copilot to streamline administrative processes, while others still are exploring AI-based academic advising tools that analyze student performance, recommend course selections, suggest tutorial sessions, and provide intervention when needed.

To truly capitalize on these advancements, universities must shift their mindset. It’s not about choosing between automation and AI—it’s about integrating both to create a cohesive, agile system that supports the institution’s long-term goals. Academic leaders, administrators, and IT staff must work together to foster a culture that embraces these technologies, ensuring students and faculty are equipped with the tools to succeed. By taking this integrated approach, universities can not only adapt to today’s challenges but also set themselves up for long-term success.

This article was adapted from our partner, Jenzabar . They translate advances in technology into advances in educational opportunities. Exclusively serving higher education, Jenzabar software and services are designed to drive higher performance in every department at your institution.

Ask a School Insurance Underwriting Expert: How Can We Prevent Sexual Misconduct on Campus?

Mon, 10 Mar 2025 18:27:15 GMT

Question: What are some common examples of sexual misconduct on college campuses?

Sexual misconduct falls into one of two categories, either quid pro quo, or hostile environment. Quid pro quo always involves a power imbalance, with the individual in a position of authority taking advantage of his or her higher status by requiring or implying that sexual favors will grant preferential treatment or the avoidance of punitive measures. In the case of a manager seeking favors from a subordinate, this may take the form of promises of advancement. Conversely, the subordinate may perceive the likelihood of punitive measures, such as being left off important committees, or the curtailing of flexibility needed to care for dependents with special needs, if they rebuff sexual or romantic overtures. In the case of a professor seeking favors from a student, the student may fear a diminished grade or the denial of an important recommendation letter resulting from their rejection of unwanted attention.

Hostile environments can result from peer-to-peer abuse in either the work or learning environment, or outsiders such as vendors engaging in unwanted behavior of a sexual nature towards a student or employee which the school fails to address once it is made aware. Examples of behavior that can create a hostile environment include sexual comments, jokes, gestures or repeated and unwanted overtures intended to gain attention or a date.

Question: What is the risk involved in failing to effectively prevent these occurrences or act on them when they come to light?

Claims related to sexual misconduct carry a high cost on many fronts. Aside from the toll it takes on the victim, schools often face significant consequences for their failure to maintain and enforce sanctions designed to prevent abusive behavior. Sexual misconduct, abuse and molestation claims are the current loss leader in the education space. One reason is the potentially qualitative assertions concerning the impact on the victim or, on the defense side, the assertion of contextual distinctions placing the engagement in arguably less serious terms. Unlike property claims which arrive at a fixed dollar amount for repair or replacement, these liability claims are driven by attorneys doing their best to either prove or disprove the claim. The claims can be drawn out over time and accrue significant expense for both settlement and defense costs. If the case is brought in front of a jury, recent trends indicate to potential for far larger awards than historical averages. In today’s parlance, these can assume the scale of a “nuclear verdict,” which can reach astronomical sums. Another concern is the damaged reputation that may accrue to the school for allowing the perceived existence of an environment conducive to exploitive behavior, exposing employees or students to elevated risk.

Question: What steps should be taken to assure an environment free from sexually abusive behavior?

The first step is to have policies in place that convey the school’s commitment to maintaining an environment free from harassment. One such policy should pertain to employees and be included in the employee handbook. A separate policy must apply to students and be included in the school’s student handbook, with review of its provisions included as a component of new student orientations. Employees then must be trained on the contents of the policy, with clear examples of prohibited behaviors. Many colleges and universities now prohibit any romantic or sexual relationship between an employee and any student. Others choose to prohibit such relationships only where a professor or teaching assistant is in a supervisory role over a student. Students and employees alike need a clearly defined reporting mechanism. Once the report or complaint is received, schools must conduct a thorough and documented investigation and reach a determination in a timely manner. Conclusions may range from no prohibited behavior was found, to a clear violation of policy by the perpetrator. Consequences must comport with policy provisions in an appropriate fashion, up to and including termination, suspension or, in some circumstances, involving law enforcement.

In conclusion, sexual misconduct is among the most serious issues on a college or university campus. Concrete and defensible steps from policy development and training to investigation and enforcement are the keys to mitigating this ever-present risk.

Predicting the Future: Strategic Finance Requires the Stewardship of Resources

Tue, 11 Feb 2025 16:17:44 GMT

As we begin what’s expected to be a very challenging year for higher education, leading media outlets are publishing lists of predictions and expectations for colleges and universities almost daily.

These lists can be juxtaposed against what rating agencies, higher ed scholars, and other commentators are suggesting will be a difficult financial period in which institutions’ ability to generate additional net revenue will diminish as their need to contain rising expenditures accelerates.

As one example, the United Educators list below includes responses from 194 colleges and universities between November and December 2024, outlining the top ten risks for higher education. They include:

Enrollment
Data security
Operational pressures
Recruitment and hiring
Regulatory and legal compliance
Facilities and deferred maintenance
Student mental health
Funding
Public safety
General premises safety, Title IX, and political/social pressures

One can distill this list into elements that define institutional health and performance: fiscal integrity ; enrollment productivity ; student success outcomes (which includes regulatory compliance); and people/key processes . Managing these critical processes with data-informed decisions requires internal competencies and capacity—keys to a sustainable future....

The fundamentals for a preventive health check include an assessment of an institution’s current financial state, a comparative analysis of how it performs against its peers, and finally, a look at historical trends to identify the factors that matter the most.

The economics of higher education have become increasingly more complex, with many arguing that it is now a broken model. Strategic finance can be defined simply as the stewardship of resources to accomplish the mission that schools promise students.

The business of higher education ultimately depends on the success of students. And that success can be understood in terms of the three jobs students hire schools to do: (1) open the door of access and opportunity to college; (2) help them across the finish line to a degree; and (3) provide degrees that make graduates competitive in both life and work.

It requires asking questions such as: “How many students do we have?,” “How much are they willing or able to pay for college?,” and “Do we provide the economic and social mobility that makes college worth it?”

As a former college president at both a faith based and public university, I found that institutional performance, and more specifically financial integrity, is best defined in terms of stewardship. This term is especially useful as our margins are widening and cash becomes a more central issue to our viability, sustainability, and in some cases, survival.

Just like in our own homes, campuses benefit from knowing these simple questions: (1) how much money do we have coming in every month; (2) how much is going out every month to cover our costs; and, (3) how much of our savings are we using to pay our monthly expenses? Answering these questions will help make the decisions that are essential to improving an institution’s overall financial health.

Four truths can help institutions move through the coming year:

When you pay attention to cash it improves.
Balance sheets do not equal operating performance.
Budgets are not the same as cash.
Allocating resources to outcomes will change the way we do our work.

Along with the predictions for 2025 comes a set of realities for the coming year:

(1) College still matters in terms of the social, educational, and economic mobilities students seek; (2) mission drives the partnerships and innovation that are required to broaden the scope of the students who can be served; and (3) stewardship is a shared responsibility that requires the engagement of an entire campus to ensure both health and sustainability.

This article is adapted from our partner, Husch Blackwell Consulting . They provide higher education leaders with the data required to consider what questions are most important to answer and what tools are required to respond.

Strategic Academic Planning: Wrap People & Process Around Your Data

Thu, 09 Jan 2025 16:29:32 GMT

Explore how to engage people and develop processes for your Strategic Academic Plan.

In the first two articles in this series, we introduced Strategic Academic Planning and provided suggestions for sources and uses of data that would speak to the past, present, and future of each of your academic programs. Here, we will turn to another critical piece of the puzzle—leveraging your faculty, staff, and other stakeholders in developing your Strategic Academic Plan.

We suggest that the Strategic Academic Planning process be cyclical, regular, championed by leadership, and include members of your faculty, staff, and alumni constituencies. There are multiple ways to conceptualize such a process, and we include one example below. In addition to regular data capture and transparent reporting, a successful planning cycle must provide space and time to internalize and discuss results. Here, we envision a summer retreat, but it could also be weekly meetings led by a strong facilitator.

Sample Strategic Academic Planning Cycle

In addition, make sure the planning cycle leverages a cross-functional team. We have worked extensively with colleges and universities to understand their programs’ performances better, and we routinely find that those institutions that leave this work to one unit wind up with a lot of good data that sit on the shelf. Because constituent groups often have different motivations for completing a program review, they may collect and attend to different data. To get a more complete data set, the process should involve representatives from academic leadership and the faculty, finance, enrollment management, and student affairs at a minimum.

Finally, it is imperative to establish a process that is sustainable and indefinite (and likely on an annual basis). In other words, avoid the ad-hoc approach. To do that successfully, you’ll need clear policies to hold you and your team accountable. Will there be a standing committee responsible for the annual planning cycle? Will its members be elected, and from what constituencies? How long will the terms be? What policies will the committee follow? Who will write and approve those policies? How will the president and other cabinet members contribute to the plan? The answers to these questions will differ for every institution, just as the goals and data driving the process will differ.

We have spent significant time with institutions conducting program reviews in one form or another. Therefore, we want to conclude this series, as we do in many of our speaking engagements, with some “tips from the field”:

Tips From the Field

Know your goals and communicate them. It is essential that your teams understand how the academic planning process and its outcomes serve the long-term vision for the institution.
Before asking your teams to dive headfirst into a ton of new data, make sure they understand why! We recommend starting with some financial literacy training. Help your people internalize the higher education business model, know the big drivers of revenue and expense, the impact of regulations, and how your endowment works. Incomplete or missing information can compromise the whole process.
Find reliable tools to help with transparent reporting.
Consider hiring an outside facilitator for this process. This person is not there to make decisions about your academic operation. A good facilitator is there to keep everyone rowing in the same direction, to keep the conversation on target, and to provide insights from across the industry.
Don’t be afraid to revisit earlier decisions. A program that sounded good two years ago may no longer be feasible because of some disruptive event or technology impacting the industry. That’s okay. If you have a strong academic planning process in place, lean into it, and these issues should resolve themselves.

This article is adapted from our partner, Forvis Mazars , an integrated public accounting firm with diverse teams and locations worldwide. Rooted in unrivaled relationships based on integrity and forward thinking, their unmatched client experience can help you achieve your next level of excellence.

Ask a School Insurance Underwriting Expert: As Winter Approaches, How Can We Protect Our Facilities?

Tue, 10 Dec 2024 20:08:23 GMT

Question: As Winter Approaches, How Can We Protect Our Facilities?

Weather patterns have been changing in recent years, leading to unexpected and sometimes costly damage to facilities across the country. The approach of winter reminds us that these changing trends require some unaccustomed preparation in many regions of the nation. Sustained freezing temperatures led to frozen and burst pipes and the resulting water damage as far south as Georgia between Christmas and New Year in 2022. The simple, inexpensive step of sleeving pipes that run through unconditioned areas or along exterior walls is one such measure that should be among the first to be employed.

Here are some other considerations to keep foremost in mind as the season approaches.

General Preparation for Interior Spaces

Keep thermostats above 60 degrees for those areas that are poorly insulated—every degree counts.
Drain all pipes not in use or not used for fire protection.
Check that insulation in basements, crawl spaces and other areas with pipe is still providing protection.
Inspect all dry pipe sprinkler valves and fire pump rooms. To prevent freezing, keep a heater in all main sprinkler valve control rooms.
Identify all main water valves and ensure clear access to them in case they need to be closed quickly.
Open doors from heated areas into unheated areas to help maintain adequate warmth for the pipes in those areas.
Take thermometer readings during especially cold days to help determine those areas most vulnerable.
Wrap pipes with insulating sleeves where they run through unconditioned areas or along exterior walls or install electrical heating tape on pipes to prevent freezing.
Check to see if pipe sleeves and heat tapes are working.

Exterior Protection for Your Buildings

To avoid ice dams along the edges of pitched shingle roofs, add insulation to attic spaces. This insulation helps retain the building’s heat, preventing it from melting snow on the roof, which can then refreeze and seep under the shingles.
Inspect your building envelope for cracks, holes and air leaks around windows and doors to prevent cold air from penetrating wall cavities.
Seal around vents, plumbing stacks, incoming electrical components and skylights.
Address roof leaks before freezing temperatures set in.
Clear area around roof drains and the perimeter of flat roofs to enhance solar melting and the draining of melt water after storms.

Other Steps to Consider

Adding or upgrading your backup power supply. Identify critical systems and size the generator accordingly.
Don’t forget to regularly check any vacant buildings you may own. The longer a building goes with an undetected condition, the greater the accumulated damage.
Understand the legacy issues for each of your buildings related to both age and function. Use a checklist tailored to each building to monitor and stay on top of emerging problems.
Develop an extreme weather plan which may include options such as remote work during inclement weather or establishing solid contractor relationships. Cultivating strong partnerships with your vendors can ensure prompt responses, which can minimize the scope and cost of any incident. Maintain an emergency contact list with phone numbers for both internal staff and vendors, covering various roles like custodial and maintenance personnel, electrical and plumbing services, and even restoration services. Crucially, designate individuals with authority to put aspects of the plan into action quickly to alleviate delays often caused by committee consensus.

New Related Party Disclosure Requirements for Higher Education Institutions

Wed, 09 Oct 2024 19:25:20 GMT

Key takeaways:

The U.S. Department of Education (ED) has amended regulation 34 CFR § 668 , which affects all private colleges and universities that receive Title IV funds. The amended regulations went into effect on July 1, 2024, and are effective for all audits submitted on or after that date.
The updated regulations include expanded related party disclosure requirements that extend beyond what is required under U.S. generally accepted accounting principles (GAAP).
The updated regulation may affect auditors’ determination of materiality.
This article focuses on the disclosure of related party transactions as required by 34 CFR § 668.23(d)(1) . Additional information about the amended financial responsibility requirements is available here .

Amended Regulations Expand ED’s Ability to Determine Financial Responsibility

The amended regulations that went into effect on July 1, 2024, are intended to strengthen ED’s ability to determine financial responsibility and identify high-risk events promptly.

The changes relate to administrative capability, certification procedures, ability to benefit programs, and financial responsibility, which we summarize in this article . They also include updated and expanded related party disclosure requirements, which we discuss below.

Overview of the New Related Party Disclosure Requirements

As outlined in 34 CFR § 668.23(d)(1) :

Financial statements submitted to ED on or after July 1, 2024 , must include a detailed description of all related parties with a level of detail that would enable ED to readily identify the related party.
These disclosure requirements extend beyond those in Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 850, Related Party Disclosures, to include all related parties. 1
The information in the disclosure must include, but is not limited to, the name, location, and a description of the related entity, plus the nature and amount of any transactions between the related party and the institution, financial or otherwise, regardless of when they occurred.
If there are no related party transactions during the audit fiscal year or related party outstanding balances reported in the financial statements, management must add a note to the financial statements to disclose this fact.

Note that the regulations use the terms “related parties” and “related entities” interchangeably.

Here is a summary of the key differences between the GAAP requirements for related party disclosures in ASC 850 and the amended ED requirements in 34 CFR § 668.23(d)(1). Please refer to each source for the complete text and additional details.

Helpful Resources

The National Association of College & University Business Officers (NACUBO) Advisory 24-01 (AR24-01) contains important links and discussion related to the amended regulations in 34 CFR § 668.23. The introduction supplies context on the amended regulations and pages 5 through 11 provide analysis specific to related party disclosures, including a sample disclosure and implementation considerations.

ED has provided these Financial Responsibility Questions and Answers , which NACUBO provides further insight on in this useful article . As the NACUBO article details:

ED’s questions 13 through 20 reinforce foundational guidance in NACUBO’s AR 24-01 .
Question 13 expands NACUBO’s understanding in AR 24-01 regarding operating transactions with financial institutions that are related parties. “The answer to question 13 amplifies ED’s desire for transaction information,” NACUBO notes.

In addition, the American Institute of Certified Public Accountants (AICPA) issued Technical Question and Answer (TQA) 6960.13 with information for auditors on how to handle the related party disclosure requirements. 2 While AICPA membership is required to access the TQA, this NACUBO article provides a helpful overview.

In TQA 6960.13, the AICPA notes that legal and regulatory requirements can lower materiality thresholds used by auditors and offers two considerations for auditors:

Provide the disclosures in an unaudited note to the audited financial statements, referencing its inclusion as a requirement of 34 CFR § 668.23 .
Provide the disclosures in a note to the audited financial statements. This would require the auditor to obtain sufficient evidence to provide reasonable assurance that all related party transactions have been disclosed.

ED has not stated whether either option would be acceptable.

Additional Considerations

The expanded related party disclosure requirements in 34 CFR § 668.23(d)(1) create many challenges for the higher education community, including the following:

ED may determine that institutions that do not comply are not financially responsible. This would result in the institution being required to annually obtain a letter of credit in favor of ED for a percentage of Federal Student Aid administered. Noncompliance may also prohibit the institution from participating in the National Council for State Authorization Reciprocity Agreements (NC-SARA). 3
Institutions that comply with the expanded regulations may violate Office of Management and Budget (OMB) guidelines on personally identifiable information. Disclosure of related party transactions would certainly put related contractors, donors, financial institutions, and service providers at a competitive disadvantage.
Institutions will likely find it difficult and costly to implement financial reporting internal controls to capture and report every related party transaction.
Auditors may be hard-pressed to develop procedures to provide reasonable assurance that related party transaction disclosures are complete and accurate.

If your institution receives Title IV funds, you should accumulate the related party data for compliance and documentation to support completeness. We recommend that you consult with your professional service providers and include your governing board in developing an institutional response.

1 FASB is a private standard-setting body whose primary purpose is to establish and improve generally accepted accounting principles (GAAP) within the United States. These principles are published in the FASB Accounting Standards Codification (ASC). ASC 850, Related Party Transactions, provides the public with GAAP related to the disclosure of transactions with related parties. A searchable version of the codification is available online at asc.fasb.org .

2 The AICPA is the national professional organization of CPAs in the United States.

3 NC-SARA is a private 501(c)(3) nonprofit organization that helps expand students’ access to educational opportunities and ensure more efficient, consistent, and effective regulation of distance education programs.

About the author: Dan Campbell serves as Partner and Higher Education Services Director at CapinCrouse . Dan has more than 35 years of public accounting experience leading audit engagements of nonprofit organizations and for-profit industries. He leads the firm’s higher education practice segment, which includes more than 80 client relationships, and commits a significant portion of his professional time to board training, strategic planning initiatives, and accreditation support.

Three Essential Dynamics for Healthy Relationships

duda@aespire.com (Brian Sooy) — Mon, 07 Oct 2024 18:13:51 GMT

What three dynamics are critical for life and business?

Why is a triple-braided or three-stranded rope so strong? According to the International Guild of Knot Tyers , “three strands, equally loaded, can take three times the force of one strand,” and “each accepts a greater or lesser portion of the load until all are sharing the load.”

In the book of Ecclesiastes, King Solomon used the metaphor of a triple-braided rope to explain how relationships strengthen us, our work, and our outcomes:

“I observed yet another example of something meaningless under the sun.

This is the case of a man who is all alone, without a child or a brother, yet who works hard to gain as much wealth as he can.

But then he asks himself, “Who am I working for? Why am I giving up so much pleasure now?” It is all so meaningless and depressing.

Two people are better off than one, for they can help each other succeed.
If one person falls, the other can reach out and help. But someone who falls alone is in real trouble.
Likewise, two people lying close together can keep each other warm. But how can one be warm alone?
A person standing alone can be attacked and defeated, but two can stand back-to-back and conquer.
Three are even better, for a triple-braided cord is not easily broken.”

Ecclesiastes 4:7-12 (New Living Translation 2nd Ed.)

What can we learn from Solomon’s ancient wisdom?

Over the past four decades, I’ve worked with hundreds of founders, entrepreneurs, service company owners, and CEOs. I experienced these same three observations:

One person working by themselves will struggle.
Two people working together can help each other succeed.
Three people working together are strongest.

Alone, we can go fast. Together, we can go far.

An ancient rabbinical saying is, “A man without friends is like a left hand without the right.”

Like a triple-braided rope, personal and business relationships woven with trust, generosity, and reciprocity are not easily broken.

Ask a School Insurance Underwriting Expert: What Should Our School Require from Those Who Use Our Facilities?

Mon, 16 Sep 2024 15:36:49 GMT

Question: Is it a good idea to allow outside groups not affiliated with our school to use school facilities?

Allowing third parties to use school facilities fosters good relations within the community, of which you are a prominent member. However, the use of campus assets comes with risks that must be controlled. A good “Use of Facilities Agreement” helps protect the school from potential risks such as accidents, injuries, property damage, or legal disputes. Written agreements between the school and the third party that outline the terms of use, including rules, responsibilities, and liabilities, are an essential means of transferring risk to the entity or group that benefits from the school’s allowing them access to resources such as meeting rooms, auditoriums, athletic facilities, etc. These agreements should include clear language on who is responsible for damages or injuries.

Some of the most common injuries that occur when the public uses your facilities are:

1. Slips, Trips, and Falls:

Causes: Wet floors, uneven surfaces, loose mats, or poor lighting.
Prevention: Ensure surfaces are dry, well-lit, and free of hazards.

2. Sports-Related Injuries:

Causes: Misuse of sports equipment, lack of proper training or warm-up, and overexertion.
Prevention: Enforce rules on equipment usage, provide training, and encourage proper warm-ups and stretches.

3. Sprains and Strains:

Causes: Overexertion, sudden movements, or improper lifting techniques.
Prevention: Encourage proper form, equipment, and reasonable activity levels.

4. Cuts and Abrasions:

Causes: Contact with sharp objects, broken glass, or poorly maintained equipment.
Prevention: Regularly inspect facilities and equipment for damage or hazards.

5. Head Injuries:

Causes: Falls, collisions during sports, or accidents with equipment.
Prevention: Ensure participants wear helmets or other protective gear when necessary.

6. Burns and Heat-Related Injuries:

Causes: Exposure to hot surfaces, equipment, or prolonged sun exposure.
Prevention: Provide shade, hydration stations, and restrict access to hot surfaces.

7. Injuries from Equipment:

Causes: Faulty or improperly used equipment (e.g., weight machines, playground structures).
Prevention: Ensure equipment is maintained, safe, and used correctly.

8. Dehydration and Heat Exhaustion:

Causes: Lack of hydration during physical activities, especially in hot weather.
Prevention: Provide adequate hydration breaks and monitor for signs of heat-related issues.

Question: What requirements should users provide within the Facilities Use Agreement before allowing them to use school owned facilities?

The Purpose of Use is an important first piece of information to determine the specific risks involved. Naturally, a group meeting in an auditorium to hold a forum on a local issue will typically have fewer exposures than a local football team whose own fields are unavailable and seeks accommodation. Schools should require external groups to carry liability insurance and list the school as an additional insured. This ensures that the third party’s insurance will cover any claims that arise during the use of the facility. Participants should also sign waivers that release the school from liability for accidents or injuries that occur during the use of the facilities. As the examples above illustrate, a waiver may be more critical for one type of use and less so for others. The agreement’s language should include indemnification clauses requiring the third party to assume responsibility for certain risks, including legal defense and financial losses in the event of a claim.

Question: Aside from the Facilities Use Agreement itself, what additional steps are appropriate to guard against liability accruing to the school?

Supervision and Security

Schools may want to or need to require external groups to provide appropriate supervision, security, and medical personnel for events, especially if large crowds are involved or if the event presents unique risks.

Maintenance and Inspection

Facilities should be properly maintained and regularly inspected to reduce the risk of accidents and claims. Schools must also document these inspections to demonstrate due diligence in maintaining a safe environment.

Permits and Licenses

Some activities, like contact sports or concerts, can carry more inherent risks. Schools may impose additional requirements, such as heightened insurance coverage, event coverage or extra security measures.

Activity-Specific Risk Considerations

The use of school facilities is a great way to maintain good relations with your surrounding community. If managed properly, everyone wins.

Increasing the Worth of Your Most Valuable Asset

Tue, 13 Aug 2024 21:03:24 GMT

If someone asks what your most valuable asset is, your answer might be your house, vehicle, or investment portfolio. But there’s another answer to this question that’s worth considering—yourself.

As you seek out opportunities to increase the value you bring to the table both in your personal and professional life, here are some ideas.

Meet One New Person Each Week

Research shows that up to 85% of workers land a new job through networking. In other words, who you know may be more important than what you know. Consider expanding your network and potential job prospects by meeting someone new in your industry, or a related industry, each week.

Learn a Complementary Skill

This will help you create meaningful points of difference that you bring to the table every day. For instance, if you ’ re an engineer, learn how to be a better writer. If you ’ re a marketing executive, consider taking finance and accounting courses. Or consider becoming an expert in an area of interest to help you land a complimentary job or meet people with similar interests.

Increase Awareness About Yourself

You may be the best in the world at what you do, but if companies don ’ t know you exist, you ’ ll never get better opportunities! Joining an online forum related to your industry and finding opportunities to volunteer and help other people is one way to increase awareness about yourself to prospective employers.

Aim for a Personal Best in Your Favorite Activity

Get in shape (and stay in shape!) by picking your favorite activity and aiming to achieve a personal best. If you ’ re a runner or a walker, for example, pick a time that would be a personal best for completing a set distance, then work toward achieving that goal. Taking care of your physical and mental health will help you accomplish more in every other area of your life.

Improve Your Interpersonal Communication

Think about the most important relationships in your life — whether it ’ s with your parents, spouse, children, best friends, or someone else — and find three ways you can improve your communication skills with those people. With the time, money, and education that many spend to improve their professional skills, consider a small investment to improve your interpersonal skills.

This article is adapted from our partner, Keller & Owens, LLC . Selecting a CPA firm should be made with many factors in mind—their philosophy, stability, involvement, qualifications, services, and value are key considerations. Keller & Owens, LLC, offers a unique combination of these factors—all intended to contribute to your success.

Framing Financial Aid Follow Ups: Who, What, How, When & Why

Mon, 15 Jul 2024 15:52:33 GMT

Financial aid—and the family’s understanding of it—can make or break a student’s chances of attending your college. It’s a powerful resource that enables many students access to higher education, but it can be a very overwhelming process to navigate.

How you—and, more specifically, your recruitment team—frame a student’s scholarship and aid package is crucial. Do you know how exactly your recruitment staff is framing this discussion with prospective students? If you don’t have a handle on this as an enrollment leader, you may be losing out on students.

And if you confuse, you lose.

Do you know what happens when your award letters go out? What kinds of follow-up outreach takes place? Are your recruiters thoughtfully guiding students through the process with the heart of a teacher? Are they asking the right kinds of questions to get to the bottom of uncertainties or reservations? Is the family clear on what the numbers really mean?

Hopefully, you have a dynamic team of recruiters. Likely, your team contains a mix of fresh college graduates and veterans. But when it comes to money and financial planning, these kinds of conversations can be awkward and difficult for even the most seasoned of recruiters, especially if they have never personally faced a financial decision of this magnitude before. No matter where your team is in this regard, at the end of the day, abide by the adage:

Trust, but verify.

Make sure you regularly vet your team for how to have this critical conversation. Below are ways to make sure all the boxes are checked when framing financial aid follow ups. Whether you use this to train your recruitment staff or use it as a guide to walk through the “Who, What, How, When, and Whys” of financial aid with prospective families, the purpose of this framework is to help demystify financial aid and move students to the next step of commitment.

Who

While most recruitment is geared towards the student, make sure the financial conversation is targeting parents/guardians, i.e. the one(s) most likely paying the bills. As the award letter goes out, make sure you have a trigger in place for a prompt follow-up phone call. Timeliness is key. You want to give the family clarity and confidence in a path forward, and you want the information to be fresh on their minds.

Questions To Ask Yourself and Your Team

On a scale of 1–10, how effective do you assess your team’s financial knowledge to be?
Do you follow up with award letters within a few days of arrival so you can provide clarification, field questions, and lead the family through next steps?
Is the recruiter targeting the student or the parent in this conversation?

What

Make sure the family understands exactly what is being offered. Explain the difference between scholarships, grants, and loans and the conditions of each. Explain the ins and outs of loans and how either a full or partial amount can be taken out to cover the cost, what other sources of aid can be factored in (i.e. work-study, student wages, outside scholarships, etc.), and, ultimately, what can the student expect to pay out of pocket each year? Factor in ancillary costs like parking, books, etc. if those aren’t included. Transparency will win you trust.

Questions To Ask Yourself and Your Team

Do your recruiters know the fundamentals of loans, grants, and work-study? The more they can answer and the less likely they are to refer a student to another office, the more control you retain on recruitment.
Do your recruiters approach this conversation with the heart of a teacher, explaining how grants and loans work? Do they realize that many families are unfamiliar with this process, or the language used to navigate it?
Does your team know what other avenues of aid exist to help students pay for college, (i.e. work-study, work, outside scholarships)? Do they have resources handy to share (i.e. list of links, handouts, etc.) that guide students to additional aid options?

How

Make things easy and reduce barriers by spelling out the next steps. Does loan paperwork need to be completed? Do they need to apply for state grants on a government website? Do they need a deposit to secure their scholarships? Clarify their steps for them to make it as easy as possible. When something becomes unclear or difficult, we put it off, which leaves room for doubt, delay, and/or defeat. Give them one step at a time to make it easier. Check back in once they complete a step and offer more guidance and prompting as the student progresses.

Questions To Ask Yourself and Your Team

Do your recruiters dump the full financial process in the families’ lap, or do they provide breadcrumbs to follow, step by step?
Do your recruiters have access to financial aid documents (i.e. loan forms) or know how to find financial aid web applications (i.e. FAFSA, state aid, etc.) so they can easily share these with the students directly?
Do your recruiters have a system for following up with students who are “stuck” on a step and who won’t take action to move to the next step?

When

Explaining the When goes hand-in-hand with the How . What is the timeline for the steps you’ve laid out? Are you creating a sense of urgency? What are the early benefits to confirming the scholarship, applying for the FAFSA, or making the deposit? Are funds first-come, first-served? Will the decision remove a burden off their shoulders, giving them a peace of mind? Will they have a better shot at residence hall and roommate options if they commit sooner rather than later? Spell out the benefits and advantages of taking the next step.

Questions To Ask Yourself and Your Team

Are your recruiters creating a sense of urgency, laying out the pros and cons of taking the next steps towards commitment?
Are your recruiters putting students on a timetable, asking if they can complete the next step by, say, the following week? Do they know how to keep students on the move?
Does your recruiter know how to tie confirmation of the aid with the next step, be it an enrollment deposit or registration?

Why

The biggest question you can help the student (and family) answer is Why ? Why make this investment in the student’s future? It’s expensive, the process can be overwhelming, there are likely more affordable options... acknowledge these challenges, if necessary. Remember, transparency wins trust. So, why is your institution worth the investment? This is where, hopefully, your recruitment team can make a compelling case of what your institution has to offer versus the competition. The benefits of a college degree, the competitive edge your program(s) provides, the transformation that occurs in your students over their four years on our campus. Is the recruiter making the case that the student will be investing in an experience that will pay dividends for the rest of their lifetime?

Questions To Ask Yourself and Your Team

Does your recruitment team know how to close? Do they know how to make a compelling case for why the investment in your school is worth it to the student?
Does your recruitment team know how to make a compelling case to not just the student, but also parent(s)?
Are your recruiters making it a big deal once a student commits to your institution? The financial aid decision-making process is often tied to a final decision, so be sure you celebrate with and affirm for the family their decision to commit when it’s their time.

To Recap

Who?

Whom should you be addressing in this critical conversation?

What?

What information are you presenting, and what does it mean?

How and When?

How does the student move to the next step, and when should this occur?

Why?

Why does all this matter?

Every institution is different and may have to adapt this framework to fit its unique context. Use this as a training guide with your recruitment staff to ensure they’re covering all the bases when it comes to the oftentimes overwhelming process of figuring out how to pay for college. Approach the conversation with a teacher’s heart, demonstrate transparency, and seek to clarify and simplify every step. This will build trust, pinpoint uncertainties that can be addressed directly, and lead to a stronger peace of mind when it comes to the financial portion of the college decision.

This article was contributed by our partner, Clark Higher Ed , a one-stop-shop enrollment marketing agency with a passion for higher ed.

Ask a School Insurance Underwriting Expert: As Summer Storms Arrive, How Do We Protect Our School Buildings From High Wind Damage?

Wed, 12 Jun 2024 13:49:01 GMT

Question: If we haven’t been damaged by high winds in the past, why is this of heightened concern today?

Thunderstorms and tornados in the U.S. resulted in a record $60 billion of insured property losses in 2023. In fact, fierce storms in the U.S. represented more than half of the world’s insured catastrophe losses in 2023 according to the Swiss Re Institute. Weather patterns have become less predictable over the past decade and regions which have been relatively safe from weather extremes now, may find themselves in the path of dangerous and damaging storms. Those areas situated in the traditional pathways of tornados and frequent thunderstorms have experienced an increase in both frequency and severity.

Question: Are there added or different considerations for policy coverage?

The increased likelihood of a damaging high wind event is combined with an increased cost of repairs. It is wise to review your current property valuation with your insurance broker to make sure you have sufficient coverage to meet the costs of rebuilding.

Question: What are the most important steps for us to take to protect our structures from wind damage, and why?

The roof is the building’s supreme protector against the elements. Once it is significantly compromised, the integrity of the entire structure is at risk. Now is the time to act as this is the time of the year wind damage to roofs is almost a daily occurrence somewhere in the United States.

Wind speeds that reach over 50 mph may cause significant roof damage and at these speeds, shingles may be torn off while portions of roofs may be lifted and blown away. The weaker and more poorly designed the structure, the more damage will be sustained. The force of wind blowing over a roof is not uniform. The corners and perimeter edges are more susceptible to wind damage, with the center of the roof having less risk of damage. Wind damage to the center of a roof will typically result from flying debris or the continued deterioration of the perimeter edging.

A flat roof in poor shape or that has already experienced some damage is more vulnerable to high winds. During a routine inspection, issues may be uncovered and should be immediately repaired. Roof drains should be inspected and cleaned regularly and prior to any forecasted storm event. Even the smallest issues can become major problems when exposed to high-powered winds. Buy ensuring a flat roof is in good repair before high wind season hits, it is less likely to experience serious damage.

On pitched roofs, high winds may cause various types of damage to roof systems. A compromised rooftop often leads to missing and/or torn roof membranes, which in turn may cause leaks and water damage. Additionally, roof damage may lead to broken gutters, downspouts, and loose or lost flashing.

Significant wind losses typically involve roof covers being blown off or lifted. Contributing factors could be:

Age of the roof: membrane no longer adequately adhered due to deterioration of glue/mastic; shrinkage of membrane results in it pulling away from parapet walls.
Improper installation: including not following manufacturer guidelines; improper or insufficient number of fasteners used; metal capping not covering all it is intended to, which could allow air/wind to get underneath the membrane and lift it.
Not repairing minor damage from a prior wind event, which leads to more significant damage from another wind event. Unrepaired damage to metal capping or flashing could allow wind to get underneath a membrane and lift it.

Reinforced roof installations can help reduce the chance of wind damage. For high wind resistance, use 7/16-inch or 19/32-inch plywood or OSB roof decking attached with nails. The required nail spacing varies from 3 inches to 6 inches apart, depending upon the type of nail used and rafter spacing. Ring shank or specialized hurricane nails which provide greater resistance to pullout are also recommended. Applying adhesive to both sides of the intersection of rafters and the decking will increase uplift resistance. Hurricane straps may be used to connect wall framing to each roof rafter or truss.

Question: What should our maintenance personnel be doing on a regular basis to best protect and preserve our facilities?

Maintenance personnel should be routinely inspecting roofs on at least a monthly basis and before and after a significant rain or wind event. Items to look for include:

Roof drains to ensure they are completely clear.
Torn or punctured roof membranes.
Asphalt/composition shingles that may be broken, curled, damaged, missing granules, or missing entire shingles.
Wood shakes/shingles that may be curling, showing signs of decay or mold, or maybe splitting.
Flashing, fascia, and soffit that may be bent, curled, loose, or missing.
Gutters that may be bent, clogged, leaking, loose, or missing.
Chimneys that may be damaged, have bricks with crumbling or missing mortar, damaged or missing flashing, or leaning and having the potential of collapse.

Most importantly, hire a professional roofing contractor to inspect your roofs annually to ensure support structures are in place and in good condition. For areas of known high wind events, this takes on even greater importance. Directing resources towards ensuring roof integrity is one of the most important preventative steps you can take to protect the entire building from wind and the resulting water damage.

Values Alignment in Investing

Wed, 15 May 2024 19:15:19 GMT

Asking questions about values alignment investing is more important than ever!

Biblically responsible investing in the faith-based institutional world is growing as more products come onto the market, making it easier for faith-based institutions to invest in alignment with their beliefs.

There are no official published screening guidelines for Protestants to follow, but most agree that screening out sin stocks, such as those practicing or affiliated with abortion, pornography, stem cell research, alcohol, and transgender services, is good practice. The fear used to be that these screens led to diminished returns, but this is no longer always true. These screens are a step in the right direction as environmental, social, and governance (ESG) has become part of the conversation as a “socially responsible” way to invest. Still, buyers should beware: ESG does not always align with Christian values.

Activist investing has also become more common. Some managers have had limited success using proxies to influence companies on anti-Christian policies.

In recent years, mega fund managers such as Blackrock and Vanguard have started to pose value-based questions to companies they invest in. They are doing so to encourage these companies to increase their ESG score. Higher ESG scores can create an attractive opportunity to be environmentally friendly, socially sound, and maintain good governance. These ideas are not always bad, but companies’ emphasis on “green” values and diversity, equity, and inclusion (DEI) have overtaken the profit motive. The federal government and agencies like the Department of Labor, the Securities and Exchange Commission, and the U.S. Treasury have embraced these values and created regulations around them.

Christians can and do debate some of the merits of ESG. Most of the Christian screens mentioned above are not considered in ESG portfolios. In some instances, ESG scores can be improved with practices antithetical to the Church, such as offering abortion benefits. Many investment managers and other vendors to the Church have embraced ESG and instituted practices within their organizations of values that conflict with the Church.

Investment consulting firms like us construct portfolios using various products, managers, and strategies. In evaluating firms offering these investment products and managers, we assess their track records to determine if the performance will be repeatable. We also want to understand their ability and approach to managing a Biblically responsible portfolio.

Our due diligence on managers who run Christian portfolios includes asking about the values of managers we utilize in building Christian portfolios.

Our due diligence on investment advisor’s values includes the following:

Describe your culture.
Do you have a faith statement?
Describe your firm’s philosophy on charitable donations. Please share a list of organizations receiving donations.
Does your benefit plan pay for abortions and abortion transportation across state lines?
Do you have a philosophy and statement on religious freedom?
In the last five years, has your company sponsored organizations or events that may conflict with the Church or Christian values?
Does your organization manage money for organizations that may conflict with the Church or Christian values?

We sometimes receive surprising answers. Some of the largest managers of faith-based dollars have donation and marketing practices that directly conflict with the Christian faith. Christian fee dollars will support ideologies they are potentially screening out in a Biblically responsible portfolio.

We have also found that having a Christian name does not guarantee that the portfolio screens uphold Christian values or that the values of that manager align with our Christian faith. Innovest conducted a study where we surveyed 40 Christian asset managers, not only asking them about values alignment but also asking them about faith-based screens. Only 94% reported that they screen out abortion, and 75% screen on embryonic stem cell research. In matters of values alignment, one reported that they have no opinion on providing abortion benefits to their employees.

Most investment advisors do not ask questions about values because their values conflict with the Church’s. However, as the world becomes more values-conscious, it is prudent for Christians to ask these tough questions.

This article is adapted from our partner, Innovest Portfolio Solutions . Innovest provides investment consulting services to faith-based organizations and have over 340 clients with assets of $45 billion and 60 employees.

5 Ways to Inspire Students to Buy Meal Plans

Mon, 15 Apr 2024 19:21:36 GMT

One way colleges and universities support their students’ academic endeavors is through on-site dining services, like dining halls or micro markets .

The use of meal plans and availability of certain foods can have a significant impact on performance in the classroom. Studies show that access to robust meal plans can help fight food insecurity in student populations. In fact, this directly correlates with improved academic performance . Studies even show that meal swipes can be tied to higher graduation rates.

The catch: campus dining services and their associated meal plans are only helpful if students participate in them! Here are some questions to ask when addressing the lack of student meal plan buy-in:

Are prices reasonable?
Is the plan flexible enough to accommodate student schedules?
Does the dining facility cater to student dietary restrictions and preferences?
Does the plan accommodate off-campus options?

After addressing the questions above, there are still some creative things you can do to generate excitement around dining and increase meal plan participation, even with off-campus students. Here are five ways colleges and universities can boost the number of students who buy into and participate in meal plans.

Offer Flexibility & Incentives

How you structure your meal plans impacts how many students participate in them. Students spend differing amounts of time on campus, but even those living off-campus can benefit from the right meal plan. For students who aren’t required to purchase a meal plan, flexibility, and ease-of-use are key to selling these plans to the greater student body.

Start by offering tailored meal plans so that students only pay for what they actually want, putting their individual needs first. There’s a lot of thought that goes into how many meal plan options are appropriate for each school, and research is crucial here. We highly recommend going directly to the source—the current student population—using surveys or focus groups to guide the most effective meal plan options.

Higher education is an important investment for students, and they want to ensure they’re getting the most bang for their buck. You can incentivize larger meal plan buy-in by offering discounts for larger plans (for example, buying 200 meals for $10 each versus 100 meals for $14 each), emphasizing the value proposition of buying more. Keep in mind the price of food elsewhere, too. While it’s already more convenient for those living in dorms or visiting for class to eat on-campus, you want to ensure your dining program is more cost-effective than dining out regularly.

Additionally, plans that include flex dollars to use at campus retail locations and micro markets are appealing to students residing on or off campus. Consider creating an upperclassman meal plan and even a meal plan for school athletes who need access to meals at alternative times due to practice and game schedules.

Student & Faculty Collaboration

Sharing meals is a great way to build community, and your dining hall has the potential to be a social hub for student and faculty collaboration. To encourage faculty to use the dining hall, consider offering faculty meal plans and booths with easy access to charging ports for student/faculty meetings.

To support impromptu interactions, create special events that involve the faculty. Some schools regularly host special events—like “Pancakes with the President” or “Donuts with the Dean”—to merge faculty engagement with students and exciting, special foods that everyone loves.

Establish New Campus Traditions

On-campus dining offers an opportunity to create new traditions in dining halls that students can look forward to year after year. This will encourage students to purchase meal plans, even when they move off campus, and will generate excitement within the student community.

At one of our accounts, our dining team hosts bingo and trivia nights, serving up mocktails and finger foods. The dining hall evolves from a place to eat to a prime destination to hang out with friends. Another account hosts an annual “Hoops Happening” event, which is a collaboration with the school’s athletics program and women’s basketball team.

The dining team designs a special menu full of fun appetizers, classic tailgate foods, and basketball-themed desserts. The special foods—in addition to music, spirit gear, games, prizes, and giveaways—drive excitement and support for the basketball team’s annual game against their rival school.

By creating reliable campus dining traditions, students will look forward to congregating and socializing in the dining hall and this can improve your meal plan participation.

Make Menus Exciting for Everyone

We’ve talked before about how overall menu variety is important, especially international cuisine and other interesting dishes. Not only does this continually expose students to interesting new foods, but it also keeps them engaged with the menu and curious about what might come next. While this is generally easier to do for the masses, it’s also important to extend the same newness and excitement to students with dietary restrictions.

Students may have food allergies or sensitivities , require religious dietary accommodations , or simply have personal food preferences . But just because students may be restricted by their diet doesn’t mean dining facilities need to limit their options!

Ensuring all food items are properly labeled with common allergens and dietary preferences—such as vegan, vegetarian, or halal—can go a long way in ensuring diner comfort. Dining facilities can also strive to be mindful of religious holidays and accommodate students accordingly, like extending late and early hours for students participating in Ramadan or offering more seafood protein choices on Fridays during Lent.

Being mindful to include everyone allows a wider range of people to comfortably dine in your facilities and experience unique and enticing dishes they otherwise may not have been able to try. Encouraging students to feel more comfortable dining on campus can make them more likely to buy into a campus meal plan.

Collaborate with Outside Vendors

Even when a dining hall offers plenty of menu variety, students just want something that feels special and different. Bringing local vendors to campus will generate excitement, enhance variety, and create a positive tie to the local community.

Host a “Food Truck Friday” event to kick off or wind down the school year, or invite a local restaurant into the dining hall to host a guest food station. Encourage student participation by having dining hall visitors vote for who they want to bring to campus.

Take Fresh Menus to the Next Level

There are basic things we know students want: they want real quality food that looks good, tastes good, and leaves them feeling good. Menu freshness is just as important as food quality, but to really level-up what “fresh” means, we have to dig deeper.

“Fresh” could mean a lot of things, including how fresh the actual ingredients are. But this sense of newness can also expand to include overall menu variety , especially leaning into international cuisine and meals not typically found regionally. Not only does this continually expose students to interesting new foods, it keeps them engaged with the menu and curious about what might come next.

While this is generally easier to do for the masses, it’s also important to extend the same newness and excitement to students with dietary restrictions. Students may have food allergies or sensitivities, require religious dietary accommodations , or simply have personal food preferences . But just because students may be restricted by their diet doesn’t mean dining facilities need to limit their options!

Ensuring all food items are properly labeled with the top nine allergens , halal or kosher ingredients, or vegan and vegetarian options can go a long way in ensuring diner comfort. Dining facilities can also strive to be mindful of religious holidays and accommodate students accordingly, like extending late and early hours for students participating in Ramadan or offering more seafood protein choices on Fridays during Lent.

Communication Is Key

Students can only engage with your meal plan and dining program if they know what’s happening. The biggest component of that is communicating to students what’s happening at the dining hall across several avenues, both physical and digital. Here are a few ways we’ve done this:

Posting the latest updates on dining service-specific social media accounts
School newspapers & emails
Posters and digital signage around campus (education buildings, residence halls, athletic facilities, the dining hall, etc.)
Notes on giveaways and treats

Implementing creative ideas and communicating clearly with students helps foster an environment where meal plan participation becomes a more important part of their academic experience. With the right plan in place, it’s possible to turn your dining facility into a hub of collaboration and connection that’s integral to the school’s culture.

Success by Association

Wed, 27 Mar 2024 14:14:44 GMT

What does “belonging” mean to you?

Does it mean that you are blending into the woodwork along with all the other “belongers,” or does it mean that you are able to build upon the “strength in numbers” mindset? There are so many different takes on being a member of a professional association that one could write a book on it, and in fact, I am certain many have been written on the subject.

People say they don’t have time to commit to being part of an organization. But the reality is that professional organizations are like food for the professional body; we require the nourishment that interaction with others in our field provides. We take that “nourishment” back with us to our schools and use that energy to breathe new life into what may have been a stagnant or undernourished project, department, etc.

The positives of knowing other people in your field are numerous. Networking is important in every field, even ours! Having contact numbers for and relationships established with others gives you carte blanche to call on them when you need help solving a problem. Being able to “drop a name” can often bring others that know you into the organization. True leaders recognize that we need other people to help us get our jobs done, outside help is critical to keeping a fresh look on our organizations, and you never know when you might need to call on someone to look for work… or be called upon to help someone else find gainful employment.

While I generally do not care for the term “best practices,” it does sound better than “well, that’s how we do it here, and it worked!” Professional associations offer the golden opportunity to meet with a group and capture the collective brain trust that comes with it. We must recognize that we don’t have all the answers, and there is much to gain from being a part of these meetings and conferences. Truly seeing how a success story evolved at another institution is usually enough for me to put some form of that idea into practice. We also look to our aspirant institutions and work to model our organizations and our way of doing business after them… imitation is the sincerest form of flattery. The gathering of ideas such as these could not be attained without being part of something that offers a forum for institutions to present their best practices.

Another primary benefit of being part of a professional organization is the professional development aspect. The educational opportunities that are offered are usually perfect for your field. Make sure to become a member of an association that most directly relates to your field. If you are not an energy engineer or manager and have little or nothing to do with energy engineering or management, it does not make sense to get involved with a group that focuses on that field. There are strong organizations for different segments of [management], and it may be smartest if different members of your team belong to different organizations. Have them attend their educational conferences and come back and share their knowledge with others in your department. The sharing of new information can only help to lift up a [department].

Don’t be fooled into thinking that simply belonging is enough, though. Have you ever noticed that the same names seem to come up with certain organizations? These people are probably keeping that group alive, and without them or new people stepping in to help out, the organization would wither away. I have seen it firsthand, I know, and it is painful when one has invested so much time in launching and propelling a group only to have it die. Get involved in the inner workings of a group that interests you, or one you may already be a passive member of. The rewards are many and the time invested is just that, an investment in your own professional standing.

I encourage anyone who is on the sidelines to get involved in any related organization near you. The rewards are too many to list and the drawbacks are too few to mention.

Michael G. Steger is a past Director of Physical Plant Services at Palm Beach Atlantic University. This article was originally published in College Planning & Management .

Cutting Through the Noise

Wed, 13 Mar 2024 15:50:06 GMT

Buying college software can be a nightmare. A lot can go wrong, and sometimes it seems that the devil you know—your old system—is better than the devil you don’t.

You’ve heard the stories. You might’ve even been there yourself. There’s a lot you might be worrying about...

What if they screw up our data?

How do I know it’ll work as promised?

What if there are three years of pain before it starts working?

How long before it needs upgrades?

What will they charge for those upgrades?

These concerns weary the mind and make the whole process even more of an ordeal. But perhaps we can offer a few gut checks that might help cut through some of the noise.

How Simple Is the Tech Setup?

What will the system’s technology require of your school? Do you need 27 programmers to run it? Will you need to maintain it and manage servers yourself? Is it actually web-based, or does it need some techie VPN thing to work? Who’s in charge of keeping it secure? Will your students and faculty be able to use it?

Another way of phrasing this question might be: What is the real ongoing cost for the system?

Am I Excited About the Pricing?

It’s more than just what it costs. What does the vendor’s pricing motivate them to do?

Do they get a big check upfront? Do they lock you into a long-term contract? How does customer support fit into their business? Does their pricing make them focus only on new clients? Or does it compel them to support all their customers?

You might also ask what exactly you get for the number you’re discussing. What’s included? What isn’t—and why not? Does this pricing indicate that you’ll need to someday pay more to get the service you thought you were getting?

Do I Actually Believe What They’re Telling Me?

If a vendor has complicated tech requirements but assures you that won’t be a problem…

And if their pricing doesn’t require them to serve you but they assure you that you’ll have their attention…

…How do you know that they’ll actually do it?

The support experience frequently resembles the sales experience. So don’t just listen to what the salesman says. Look at what they actually do.

Determine whether their interests are aligned with yours. Is their product and support built with you in mind? Is their pricing designed to keep you on their minds?
Consider their sales process. Are they promising you the world to bring about a sale? Are they transparent and helpful? Do they conceal their price behind negotiations that make you wonder what their other clients are getting? Or is their pricing clear and plain to understand? Are they attentive to your questions? Or do they drop the ball regularly?
Ask for references. Do their other clients enjoy working with this vendor? Or is it just the devil they know?

This article adaptation is from our partner, Populi —college management software that’s an SIS, LMS, finance package, bookstore... all in one bundle.

How 10 Minutes a Week Can Change Your Career

Tue, 13 Feb 2024 20:46:58 GMT

It is human nature to form connections… and to lose touch. The vicissitudes of time often make who we stay in touch with more a matter of happenstance than intentionality.

When it comes time to look for a new job or embark on a fresh project, we consult our mental Rolodex and realize that we’ve let distance grow in some key relationships. Most of us have a robust network, but neglect cultivating it the way we should. The urgent tasks in front of us crowd out our sincere intentions to stay in contact.

It can be tempting to make lofty—and unsustainable—goals about weekly lunches or multiple conferences to connect. The reality is that the reason you haven’t stayed in better touch with colleagues is that you’re busy. Such overly ambitious goals are doomed to fail. The good news is that you can build a stronger relationship by just investing a small amount of time each week.

Here’s my simple practice: spend 10 minutes each week reaching out to a colleague you value but haven’t talked with in a while. For me, that usually takes the form of a quick email (which takes well under 10 minutes). Some weeks, I opt to pick up the phone and call, but often it’s easier to connect across schedules with email.

Here are a few tips to help you integrate this practice into your own professional life:

Pick a regular time, when it won’t get skipped, such as first thing Thursdays or on your lunch break Wednesdays. Put it in your calendar and task list. Look forward to this opportunity and allow yourself to consider throughout the week who you might reach out to.
Keep it simple and manageable. This doesn’t need to be a grand missive. If you send an email that is multiple pages long, it will be onerous for your recipient. Keeping things brief is good for you and those you are reaching out to.
Always respond. If someone gets back to you, keep the conversation going as appropriate. I often find that emails volley back three to four times, then reach a natural close until the next time I reach out. I respond to messages immediately when they come in or save them for my scheduled correspondence time.

Here’s an example message: “Dear Regina, you crossed my mind today. How are things going? What projects are you excited about right now?” If you have the bandwidth, you may choose to offer, “any way I can help?” Only extend that offer if you are sure you can deliver. I often include a couple sentences about what I’m working on that is challenging and energizing me.

It’s really that simple. Ten minutes multiplied throughout the year enables you to maintain relationships with colleagues you respect and invest in higher education in fresh ways.

This article adaptation is from our partner, Hyatt-Fennell Executive Search . Institutions benefit from the robust experience and dynamic network of their team—delivering nearly a century of relevant practice to every comprehensive and customized search.

Why Your CFO Needs Your Support

Fri, 05 Jan 2024 05:00:00 GMT

Experienced members of ABACC were asked, “What do you wish you had known when you started working in Christian higher education?”

Technical Issues

More accounting and legal understanding
Accurately forecasting the budget based on expected student enrollment
Use, regulations, and policies regarding restricted and unrestricted funds
Various ways college donations are classified, used, and reported
Reporting of annual pledges
Legal requirements involved in operating an educational non-profit
Better understanding of the implications of the Americans with Disabilities Act and how it affects the educational process
Benchmarking, financial ratios, and financial analysis
Benefits of comparing benchmarks to reference schools
Understanding, integrating, and adhering to the various reporting and filing requirements for governmental reporting, accreditation reporting, association reporting, etc
How to balance tuition pricing and tuition discounting to maximize net tuition revenue
Tax laws, minister’s housing allowances
Fund accounting and financial statements as they relate to private higher education
Accrediting commissions and how they (really) operate
The Department of Education and how they (really) operate
Federal regulations and compliance issues

Christian Environment Issues

How to be a more effective Christian administrator and leader in a Christian organization
Limitations of partnering with the for-profit business sector
How much longer it takes to make decisions in a “shared governance” model
The long hours with a different pay scale from the for-profit world and how to level that field
How to handle the stress of the position, compounded by a passion for the ministry and the work required
How to not become identified by your title, but by your place before God
Why and how Christian higher education is different from for-profit business
The importance of praying for and with colleagues and staff
The keen awareness that God has placed me in my position to serve others

Leadership & Management Issues

How best to convey information to the Board of Trustees, some of whom are numbers-oriented and some who aren’t
Understanding the politics of the higher education community
Understanding the faculty mindset and working with faculty committees
Tracking down and integrating the primary resources for Christian higher education business officers
Differences between administrative roles, opinions, attitudes, and mindsets, including the filters through which each administrator views the educational/institutional process
How vastly important it is to have the president’s full confidence and support
Importance of good relationships with other administrators
Effectively communicating the budget, both “up” to the president and board, and “out” to faculty and staff
Importance of quality business/finance recommendations and good communication, especially during difficult financial times
How to allocate time between work, family, prayer, and worship
To take advantage of ABACC’s mentoring program—it would have been a great resource for me
How to optimize decision-making and efficiency in a committee-driven culture
The breadth of topics that most business officers must be “up” on

Your First 90 Days

Wed, 20 Dec 2023 20:36:23 GMT

Are you just starting a position as a chief business officer in higher ed? Or, perhaps you’ve been promoted to a leadership role? What do you need to do in your first 90 days?

Read Important Foundational Documents

Articles of Incorporation
By-Laws
Policies & Procedures
Employee Handbook
Faculty Handbook
Strategic Plan
Master Plan
Board Governance Manual (if any)

Read Important Financial Documents

Debt/Bank covenants
Current year budget
Prior year’s budget-to-actual report
Five-year financial plan (if none, plan to create)
Capital budget (if any)
Investment policy (if none, plan to create)

Read Audit & Risk Analysis Documents

Past two years of 990s, 990-Ts, and audit reports
Past two years of financial aid audits
Past five years of management comment letters
Review the most recent risk assessment and risk management documents (if none, plan to create)

Read Accreditation Documents

Read the most recent accreditation reviews and recommendations.

Get Up to Speed on Legal Issues

Read significant third-party contracts
Inquire about current or pending litigation

Begin Building Relationships with Key Personnel

Meet in person with key personnel across the campus (individually—go to them)
Cabinet members
Faculty leadership
Department heads
Student leadership
Your own staff
Board committee chairs (with approval of your president; ask your president to make these introductions)
Walk the campus with Director of Physical Plant (every building)
Attend a faculty meeting (introduce yourself, talk about your philosophies and plans, seek their guidance and input)
Attend departmental meetings across campus

Schedule Introductory/Exploratory Meetings with Key Outsiders

Auditors
Bankers
Investment managers
Insurance brokers
Legal counsel

Prioritize

Knowing your first year (or more) will be overwhelming, be intentional about your work/life balance
Be intentional about your ongoing professional development
Be intentional about building your professional peer network

God’s Intent for Creation

Wed, 20 Dec 2023 17:10:13 GMT

We were created for abundance and goodness. Deep down we know this to be true.

Though today the vision of what that describes is fuzzy, the early chapters of Genesis explain God’s original intent for His creation. He tells us our purpose and calling as human beings. Let’s focus on Genesis 1:28, which has often been called the “cultural mandate”:

And God blessed them; and God said to them, “Be fruitful and multiply, and fill the earth, and subdue it; and rule over the fish of the sea and over the birds of the sky and over every living thing that moves on the earth.”
Genesis 1:28 NASB

Note the key words in this passage: be fruitful, multiply, fill the earth, subdue, rule. We can encapsulate these ideas by using the word abundance . Humans were created with the intent of abundant living. Fruitfulness and growth, multiplication and expansion, as well as structure and organization, are all part of God’s plan. These also include stewardship of society and care for the natural world.

In addition, as the biblical writer introduces those concepts of abundance, we learn that “God blessed them,” and in the next verse we see that God provided all that man needed to fulfill his calling. God infused His creation with goodness! In fact, God provided in such a way that mankind’s success could be guaranteed (had he remained obedient—but more on that later).

The overall scope of mankind’s role in this world is broad. It includes stewardship of all kinds, and too often we forget that these words that describe abundance and goodness are also economic in nature. Economics, that is, in a holistic way. Fruitfulness can relate to profit. Multiplication relates to growth. To “fill the earth” can coincide with market share. To rule and subdue is to be a steward, or manager.

It is due to these realities that each of us have an inner sense of God’s original intent. These ideas were built into the song of creation, and we still have echoes of that melody bouncing through our existence. As we reflect this week about our roles at our institutions and companies, the responsibilities that we have in our families, and the service we provide in our churches and ministries, let us consider what it means for God to have created us for abundance and goodness.

Heavenly Father, in the next few days give me a clearer vision about what you intended for Your creation. Show me Your hand in my life and how You are providing for me to live abundantly. Remind me of my mission and my purpose as I serve those around me. Amen.

Dr. Mark Sooy is a teacher, theologian, author, pastor, worship leader and musician. His experience has led him to serve in pastoral church ministry, university instruction, worship leading, authoring, conference speaking and leading, private music instruction and other forms of Christian service.

Don’t Cut the Professional Development Budget!

Wed, 20 Dec 2023 16:38:40 GMT

We can all agree that colleges are facing significant financial challenges and need to do everything possible to improve the bottom line. We would also agree that developing our employees professionally is important.

When times are challenging and budgets are getting cut, the professional development budget is often the first expense to go. It is an easy target since it is not required to keep the doors open. Cutting the professional development budget is too common in higher education.

When times are tough the focus is too often on cost control and survival instead of the significantly more difficult work of making the changes required to compete effectively. Institutions often change only at the margins and use a “cut back and hope” approach. This only perpetuates the status quo, when, in reality, it is innovation that is most needed.

Professional development:

Increases knowledge and skills,
Increases motivation,
Increases job satisfaction,
Increases capacity for innovation and creativity,
Makes it easier to attract in-demand candidates,
Improves the retention of existing employees, and
Makes succession planning easier.

Often times the WORST place to think creatively is in your office where there are constant interruptions, the usual day in and day out responsibilities of your job, and numerous idea-stifling disruptions and distractions. The best creative thinking is done OUTSIDE of the office, interacting with colleagues, listening to new and thought-provoking ideas, and having the ability to focus solely on the issue at hand.

We eliminate the opportunity for deep-dive creativity when we cut the professional development budget. We don’t allow our people to engage in the stimulating environment that might well be the incubator for the innovative solution your institution is seeking.

We need the best out of our employees. We need their dedication and hard work, we need their creativity, and we need them to accomplish challenging goals beyond their current skills and knowledge. Maintaining the status quo is simply unacceptable. Mark Murphy says, “Goals that propel an individual to accomplish significant results [to] propel an organization forward require employees to learn new skills to accomplish the goals.” [1] Professional development provides the new skills and knowledge employees need to achieve very challenging goals.

Too many institutions cut the professional development budget during challenging times. Doing so communicates that the institution does not care enough to help them achieve their best. It hurts morale and increases turnover. We then proceed to ask our discouraged employees to do everything they can to help recruit and retain students. It is certain that the discouragement we foster in our employees will negatively affect our customers.

It is true that many institutions need to make significant reductions in expenditures to remain viable. They need to cut deeply enough to have the resources needed to invest in new innovative programs and delivery models. Their future likely depends on innovation and will require their employees to develop skills and knowledge currently beyond their reach to achieve institutional goals. That means professional development stays in the budget and may even need to be increased and prioritized.

Institutions who have or are considering cutting the professional development budget are exacerbating the problem. They are applying a “cut back and hope” strategy that will not work. The better solution is to determine how we best inspire our employees to achieve goals that will propel our institution forward. What can we do to unleash the best creative energy? Our future depends on innovation, and our ability to innovate depends on our people. Investing in our people is investing in the future health and well-being of the institution.

[1] Murphy, Mark (2014). Hundred percenters: Challenge your employees to give you your best, and they will give you even more. New York: McGraw Hill.

Dr. Duane Kilty is the Scholar in Residence at the DeVoe School of Business, Indiana Wesleyan University .

Five Reasons You Should Use Cooperative Contracts (& Two Things You May Be Wrong About)

Tue, 12 Dec 2023 18:58:45 GMT

One of the most unique characteristics of higher education is an inherent willingness to collaborate.

Higher ed is an amazingly supportive culture where administrators, academic researchers, scientists and professors learn from and build upon each other’s successes. The same can be said for higher education procurement.

Given the financial pressure today’s higher ed institutions are facing, collaborative purchasing efforts are more important than ever before. Many institutions don’t realize just how much a purchasing cooperative can help with the procurement process.

Cooperatives—community-owned group purchasing organizations (GPOs)—are created to leverage the combined purchasing volume from many different entities, thereby increasing the purchasing power of each individual.

Here are five reasons you should consider using cooperative contracts:

1. Aggregated Spending = Superior Pricing

The sheer volume and purchasing power stemming from the aggregated spending of hundreds or thousands of colleges and universities creates economies of scale that individual institutions would not be able to achieve on their own. Leveraging this aggregate purchasing power allows members to take advantage of superior pricing.

2. Knowledge & Best Practices

We’re seeing a shift in the cooperative focus to encompass not only purchasing power, but also to aggregate knowledge, expertise and best practices, especially regarding methods for reducing costs and identifying essential requirements.

By bringing together subject matter experts from colleges and universities across the country, the cooperative can ensure it is eliciting a broad range of expertise and insight that identifies and sources the optimal solution for its community.

This broader base experience lends itself to the development of RFPs (Requests for Proposals) for the products and services that are most relevant to the membership.

3. Time Savings/Cost Avoidance

An RFP solicitation and its subsequent administration can be an onerous process involving substantial time and costs for all involved. Today’s procurement professionals don’t have the time or the resources to research new product categories, source competitive quotes, and benchmark and negotiate pricing.

These individuals realize tremendous time savings—and cost avoidance—when a contract development process has already been conducted by a cooperative.

4. Strategic Value

By eliminating time spent on more labor-intensive tasks associated with developing an RFP, staff resources can be reallocated to focus on more strategic projects and functions: process improvement, sourcing technology, supply chain optimization, procure to pay speed and simplification, and end-user satisfaction. All these help advance the institution’s mission.

Additionally, these staff are provided with more time to develop the important collaborative relationships that are imperative to a successful organization.

5. Rebates/Refunds

A true member-owned cooperative typically returns any net income/profits to its members in the form of patronage refunds, which are based on a member’s annual purchases. Many times, members also have the opportunity to take advantage of exclusive rebate and incentive programs available through the cooperative’s suppliers.

And here are two common misconceptions to reconsider:

1. I Can Do Better on My Own

Many institutions hold tight to the belief that they can do better on their own, as opposed to utilizing a cooperative’s contracts. It’s an understandable theory, but what we’ve found is that when total cost is taken into consideration, this theory is often disproved. Frequently this misconception comes from flawed benchmarking and comparisons.

You cannot compare a handful of items and accurately judge the value of the entire package. A fairly complex analysis and benchmarking of qualitative and quantitative factors is necessary in order to make that determination.

Additionally, institutions typically do not factor in the opportunity cost of sourcing something on their own versus leveraging work that has already been done by a group purchasing organization.

A cooperative handles every aspect of the contracting process including research, RFP development, and contract management. So there’s really no need for an institution to “reinvent the wheel” in a category that the cooperative has already covered. Why allocate time and resources toward doing what has already been done?

While it may be true that in some cases an institution can find a better price on a particular product by going out on their own, this doesn’t necessarily equal better savings. The price may be lower, but overall, when you consider the total bundle and resources that go into identifying, researching, and procuring that item, and when you quantify what that time is worth, the cost can be quite high.

Price alone is not always an accurate indicator of what something actually costs.

2. I’ll Lose Control of My Relationships With Suppliers

Some institutions think that by working with a cooperative, they will no longer have control of their relationships with suppliers. The truth is actually quite the opposite. By working with a cooperative, an institution is not going to relinquish control at all and, in fact, they usually find that suppliers are even more committed to serving them knowing that they have the backing of a large buying cooperative.

Make no mistake about it, cooperative purchasing is not always the best way to go. Not all products lend themselves to cooperative purchasing, and some things are certainly best bought individually and/or locally. I am certain, however, that cooperative purchasing should be a key part of every college and university’s overall purchasing strategy. It offers opportunities for significant efficiency and savings, and allows us to take advantage of one of our community’s unique values—cooperation.

This article was originally published at Christian Academia Magazine .

How to Empower Your Organization Through Health Benefits & Measure the Positive Impact

Tue, 12 Sep 2023 16:42:09 GMT

In today’s ever-evolving business landscape, a core element that stands the test of time is investing in the wellbeing of employees . With rising healthcare costs and the myriad health concerns that life presents, organizations are finding themselves at the nexus of responsibility and opportunity. By directing resources towards health benefits and subsequently measuring their impact, we can significantly elevate both the morale and productivity of our workforce. However, diving into this essential yet expansive area requires a blend of caution, information, and diligence. Let’s discuss how organizations can leverage the power of health benefits to create a positive impact on their people.

Unlocking More Resources Through Health Benefits

It’s crucial to grasp that investing in health benefits is not merely a cost but a strategic allocation of resources. When it comes to budgeting and fiscal management within an organization, health benefits often appear as a significant expenditure line. However, reimagining health benefits as more than just an expense allows organizations to see it in a new light: a powerful, strategic investment . By investing in the health and well-being of employees, companies are inherently investing in the foundation of their organization, as employee health directly correlates with productivity, satisfaction, and loyalty.

Collaborate with Experts

Venturing into the world of health benefits without guidance can be a difficult task for many organizations. For example, health benefit consultants can provide insights into the most cost-effective and impactful benefit plans available.

Investing in Employees: Beyond Just Salaries

Health Is Wealth

Benefits aren’t just about the monetary value but about the message they send. Offering comprehensive health benefits shows employees that their well-being is a priority. While salaries are a straightforward representation of an employee’s value to the company, health benefits offer a deeper, more profound message. They signal an organization’s recognition that an employee’s worth goes beyond just their professional output. By providing comprehensive health benefits, companies communicate that they view employees not just as assets, but as individuals with holistic needs.

Tailored Plans for Diverse Needs

Each employee is unique, and so are their health needs. Consider implementing flexible benefit plans that allow employees to choose what suits them best, be it mental health support, physical wellness programs, or chronic condition management. Recognizing the individuality of each employee means acknowledging the varied health requirements they might have.

Ongoing Education

When employees are educated about their health benefits, they’re empowered to make informed decisions. This knowledge can lead to better utilization of resources, ensuring that employees are getting the maximum benefit from what’s offered to them. As an organization that values its team, it’s essential to regularly educate employees about their health benefits. Regular workshops, seminars, and information sessions can ensure that they make the most of what’s on offer. Ultimately, investing in the comprehensive well-being of employees, both in terms of monetary compensation and health benefits, paints a picture of an organization that truly values its workforce.

The Impact Report: Measuring the Return on Investment

Not measuring the impact of your health benefits can leave organizations in the dark about their true value. Crafting an Impact Report serves as your organization’s opportunity to clearly communicate this value.

What to Measure

Begin with the basics. How many employees are utilizing the health benefits? What’s the feedback on the available services? Then, delve deeper. Is there a noticeable increase in morale and productivity? Additionally, it’s important to note that transparency in reporting the impact of health benefits is vital. Honest reporting ensures trust and helps in refining strategies. When creating your own Impact Report, you can include data-driven stories of transformation from your employees, an inspiring vision for the future, and a clear call to action.

Additionally, it’s important to measure the impact of the dollars you’ve saved on your health benefits. How have you reallocated these savings? How has this benefitted your organization? How have you been able to further your mission? These questions allow you to measure the full impact of investing in your people and organization without breaking the bank.

What You Gain

An Impact Report not only serves as a source of inspiration and information, but it also allows your organization to gain assets. Some of these assets include internal alignment, incorporation of valuable change, and organizational growth.

It’s important to remember that the journey to robust organizational health is a continuous one. Keep reviewing, keep refining, and above all, keep prioritizing the well-being of those who make the organization what it is: its people .

Are you ready to learn how to transform your organization’s health benefits? Experience the significance of comprehensive benefits and see a real-life example of an Impact Report. Click here to see how Remodel Health has made an impact by providing individual health insurance and subsequently saving over $100 million for their customers.

Ask a School Insurance Underwriting Expert: As Students Return, Do You Have Any Advice?

Fri, 11 Aug 2023 20:27:10 GMT

Question: As Students Return for the Fall Semester, What Advice Would You Provide for Preparation?

Students’ health and welfare is of paramount concern to us all. Although there are many factors to consider, highlighted below are a few areas of risk management that will help ensure a positive and nurturing environment where your students may thrive, while also guarding your institution against potential liability.

Facilities

A routine examination of all student housing should occur with regularity during the school year as well as prior to student arrival. A checklist is a great way to ensure that key items are in good working order. Some examples of checkpoints include:

Are all locks on exterior doors in good working condition?
Are all windows unobstructed and open freely in each dorm room?
Are the locks on each individual dorm room working properly?
Is a master key available for all dorm rooms?
Is emergency lighting available and functioning properly?
Are there functioning fire and carbon monoxide detectors throughout residence halls?

Many of the checkpoints mentioned above should also undergo review at other facilities frequently visited by students such as instructional buildings, the library, and the student union building.

Campus Policy Review

Another area in which a college or university can face costly challenges and reputation risks is through the consistent enforcement of policies. Therefore, conducting an annual review is crucial for maintaining a clear understanding of the responsibilities they impose on your institution. Examples of such policy issues include:

Failure to address dangerous student behavior such as hazing.
Failure to strictly adhere to concussion management policies in athletics.
Failure to thoroughly investigate sexual harassment complaints.
Failure to develop and enforce defined safety and security protocols.

Other policies which merit regular review and enforcement include Student Code of Conduct, Student Transportation, and your Discrimination Complaint Procedure.

Student Mental Health & Welfare

The experience of living away from home during college can be a difficult transition for many new students. Stressful situations such as adapting to a new social environment and navigating a demanding academic setting, can significantly impact a student’s mental well-being. Considering various other factors such as a family member’s passing, financial concerns, health issues or even inadequate sleep can disproportionately hinder a student’s capacity to manage their daily life. Providing easily accessible, confidential resources for students to seek support is an important service that colleges and universities should promote extensively. This should include advertisements through orientation materials, on-campus postings, and continuous placements in student publications.

Good luck with the upcoming semester!

How to Optimize Your Employee Onboarding Experience

Tue, 11 Jul 2023 18:42:15 GMT

You always want to make a great first impression, and why should welcoming new employees to your organization be any different?

In the past, employee onboarding meant sitting at a conference table for several hours and filling out reams of tedious paperwork. This process makes for a less than impressive welcome for your new hire, and creates extra work for you and your team.

Now, there are so many exciting technology tools available to make the process easy and engaging for both you and your new hires. There’s no excuse to burden new employees with a boring, monotonous process when you have the opportunity to provide an exciting and streamlined onboarding experience.

In this article, we’ll review how you can optimize your employee onboarding experience by following the well-known “four Cs of onboarding.” This will ultimately benefit your organization—and your new employees!

What Is Employee Onboarding?

Employee onboarding is the process by which a new employee is both set up and welcomed into an organization. This includes formal things like paperwork but also informal things that help integrate the new employee into the culture, like lunches with colleagues during their first week on the job.

According to Forbes , “Onboarding can make or break a new employee’s experience with your organization; it is, after all, the first glimpse they receive into how your company operates and treats its staff.”

Remember, employee onboarding is the crucial first impression, and an effective onboarding process can assure the new employee that they’ve made the right decision in taking on their new role.

The Four Cs of Onboarding

The Society for Human Resource Management Foundation’s Effective Practice Guidelines Series defines the “four Cs” that serve as building blocks for successful new-hire orientation. The degree to which each of these building blocks is leveraged determines the success of the overall onboarding strategy within an organization.

You can use the four Cs as building blocks in your effort to create and optimize the employee onboarding experience at your organization.

The First “C” of Onboarding: Compliance

Compliance is the first hurdle in the onboarding process, and no matter what you do, your onboarding experience won’t be exciting and engaging for long if it’s in violation of labor laws.

The mandatory housekeeping items include completion of paperwork, such as the I-9 Employment Eligibility Verification form and W-4 form, and equipping the new hire with a workspace and necessary technology. While these tasks are essential, they can be burdensome to both the employee and your own team.

With an onboarding portal, all new hire documents are delivered to the employee in a digital format, where they can review, fill out, and sign from anywhere. This means a big part of the compliance burden is completed prior to their first day of work, reallocating that time to focus more on the employee experience.

You can also create a uniform checklist of all the tasks that need to be completed , such as setting up the new hire’s workspace or creating a building access card, and assign them to various internal team members.

The Second “C” of Onboarding: Clarification

The interview and hiring process can be overwhelming for candidates. Remember, they’re trying to make the best first impression too, while proving to you that they’re the best candidate for the job. Once they’ve secured the position and are preparing to take on their new role, clarification ensures that employees understand this new role inside and out and are ready to assume all the responsibilities that come with it.

For your part, be sure to provide new employees with a complete role description that includes duties, compensation, benefits, and more. Files like these can be easily uploaded into your onboarding portal as custom employment documents, also known as eDocs. You can even add signature lines and tracking to make sure the documents are viewed and signed. EDocs can also be accessed through the employee’s self-service portal for later reference.

The Third “C” of Onboarding: Culture

Culture refers to the new employee’s understanding of both formal and informal organizational norms. These include things like state labor laws, office policies, break room etiquette, and more.

By providing an automated onboarding experience, you have the opportunity to embed your organization’s culture throughout the process. Most onboarding portals allow for extensive customization to include video messages, photos and bios of company leaders, and of course the ability to ensure the portal reflects the “look and feel” of your brand.

According to research by Twingate , 65% of respondents report that working from home sometimes feels lonely. In the age of Work From Home (WFH), it’s more important than ever to find ways to make sure your remote employees—especially new ones—are still integrated into the organization’s culture and feel excited to be part of the team. A branded onboarding portal won’t do all of this for you, but it’s an excellent way to kick off the relationship and showcase your company through an accessible, digital experience.

You can also educate the new hire on the formal norms during this process, as they’ll be reviewing the “rules” within the portal by signing off on employment documents and reading through your employee handbook.

The Fourth “C” of Onboarding: Connection

The best and most loyal employees develop a connection to their organizations, and this begins during the onboarding process. Connection refers to the interpersonal relationships and informational networks that a new hire develops, as well as that “feeling” of being part of the organization’s mission.

In a study done by Harvard Business Review , it was determined “that new hires with a moderate number of strong relationships within their cohort reported greater job satisfaction four months after joining the company, received higher annual performance ratings from their direct supervisors, and were less likely to leave the company in their first three years.” So, ensuring that they are given ample opportunity to interact with their colleagues and form connections is the minimum organizations can do for new employees.

Even better—especially for those who regularly come into the office—is a formalized, scheduled interaction with various members of the team. For example, at Checkwriters we started “Lunch with a Leader” where department heads take new hires to lunch. We plan on launching a variation of this soon where employees will be updated on department initiatives while being treated to catered lunches in our headquarters’ café.

So, how does an automated onboarding experience help with this effort? Again, it’s about kicking the relationship off on the right foot and presenting your organization in a way that gets the new hire excited about the prospect of working with your team.

And of course, any tool you can leverage that limits the amount of time an employee spends filling out paperwork and reading policies—or at least makes that process more convenient—allows more time for these relationships to be established.

This article adaptation is from our partner, Checkwriters , a payroll and HR services company focused on optimizing every step of the customer experience.

Ask a School Insurance Underwriting Expert: Why Am I Being Asked To Significantly Increase My Property Values This Year?

Mon, 15 May 2023 14:23:04 GMT

Question: Why Am I Being Asked To Significantly Increase My Property Values This Year?

The property insurance market has been affected by extreme weather and climate disasters, which have put pressure on carrier profitability. The property valuation issue facing the industry is important since insurable asset values have not kept up with inflation or recent supply and demand cost pressures on labor, commodities, freight, etc. Property claims are settling above reported values, making property valuation a leading topic in the property insurance market.

Determining the value of your property portfolio can be challenging. Depending on the structure of your insurance program, having inadequate values could be financially devastating for your school in the event of a claim. Raising your property values now with a potential premium increase is difficult, but may be the prudent direction to take.

To avoid an underinsured property loss, consider the following tips:

Work closely with your insurance broker to review limits and make necessary adjustments annually. At a minimum, increase values to keep up with inflation and strongly consider obtaining a replacement cost property appraisal from a professional appraisal company. To add some perspective, we have experienced claims where properties were undervalued as much as 30-40% by just not keeping up with inflationary value increases. The issue compounds over time, so it is important to begin with an accurate value and increase accordingly each year.
Purchase Building Ordinance coverage which provides coverage for costs associated with any new building code requirements.
Include the value of any additional structures or features on the property that are not a part of the building (e.g., landscaping features, signs and lights).
Accurately reflect the occupancy of your buildings. Vacancy restrictions in a policy, if not disclosed and addressed, can lead to claim payment denials.
Review other coverages available with your broker that aren’t automatically included in the property form such as business income, flood, earthquake, etc.
Consider Blanket Property coverage with an agreed value endorsement to help mitigate issues that may be present with your property valuation. Be aware of any margin clause or coinsurance penalties that may be included in the policy form. If they are present, understand them clearly as they can substantially affect claim payments if incorrect values are reported.

As always, to minimize future risks consider ways to avoid losses before they happen. Installing property sensors and having a sound maintenance plan to keep your property updated, are important methods to help minimize potential loss.

What Does It Cost to Recruit a Traditional Undergrad?

Mon, 10 Apr 2023 18:45:46 GMT

NACCAP recently published its 30th annual Admission Benchmarking Study, a detailed review of the cost to recruit a traditional undergraduate student at 113 member colleges.

The study includes information on budgets by spending category, staffing, key enrollment metrics like the percentage of new students recruited primarily by coaches, first-year funnel metrics, and performance ratios like the average production of a recruiter.

Tim Fuller, frequent ABACC speaker and resource person, leads this research for NACCAP and would be glad to discuss it with interested ABACC members.

You can view the study’s summary documents here .

Please note, NACCAP members that shared their data can see more institutional details.

Fuller Higher Ed Solutions , founded in June 2020, grew out of founder Tim Fuller’s deep love for and experience with Christian colleges and universities. His 40-year career includes 27 years of enrollment service and leadership at Houghton College and 13 years of consulting at Credo.

How to Evaluate Investment Performance

Mon, 13 Mar 2023 19:35:13 GMT

Do you struggle with investment performance evaluation? How can you determine if the investment program is doing well—or even define well?

In this blog, I provide some ideas on how to evaluate investment performance from a variety of angles. As you read this article, I encourage you to keep in mind that there are both art and science to the issue.

Index-Based Benchmarking

Measuring investment performance against well-known indices is the most common form of investment performance evaluation for a portfolio. In fact, the terms “index” and “benchmark” are used interchangeably by some.

An important nuance to this approach is that a single index is unlikely to be an adequate benchmark for a diversified portfolio. Instead, investment portfolio performance should typically be measured against a blend of indices. The weights of each index in the blend should align with the portfolio’s components—either at the broad asset class level (e.g. equity vs. fixed income) or at the more detailed sub-asset class level.

Selecting which indices to use is also important. For asset class-based benchmarks, using broad-based indices often makes sense. For sub-asset class benchmarks, the use of best-fit indices for each manager/fund may be more suitable.

Peer Group Analysis

Peer group analysis is a form of investment performance evaluation that uses real portfolios. In practice, it is difficult to perform peer group analysis at the portfolio level due to issues around the availability, standardization, and quality control of data. But if proper comparative data is available, peer group analysis allows organizations to determine how their investment portfolio performance stacks up against that of similar institutions.

On the other hand, peer group analysis is much easier to perform for individual sub-asset classes. Asset managers must conform to reporting standards. Most asset managers also report their results to a number of databases, facilitating an adequate group against which to compare.

Goals-Based Evaluation

A third approach of how to evaluate investment performance is internally, rather than externally, focused. Goals-based evaluation builds performance targets around the organization’s wants or needs. For example, consider an endowment that spends a percentage of its market value. The organization may wish to conduct its investment performance evaluation against a goal of the endowment’s spending rate plus inflation.

A goals-based approach is a meaningful way to measure investment portfolio performance. However, it is also necessary to understand investment returns in the context of what is happening within investment markets. In any particular period, a “spending rate plus inflation” goal may be either too easy or too high a bar to achieve. Goals-based evaluation is best complemented by one or both of the prior two methods.

Cost Analysis

While not a direct performance item, we believe it is important for organizations to also understand the cost of their investment programs. In fact, cost is a component of investment returns. The larger issue with investment program cost is similar to that with the cost of any product or service: is the organization paying a fair price in the context of the market?

Different investment advisory and consulting firms offer different services and price these services differently. Unfortunately, “real life” cost information is more difficult to obtain for these types of firms as many arrangements are individually negotiated and not often published in aggregate form.

Information on investment product costs is available through the same databases that provide performance information. Additionally, asset managers often publish their costs. The key for an organization is accessing an investment strategy through a cost-efficient investment vehicle, given that the same strategy is often offered through multiple options such as share classes.

Final Thoughts

Investment portfolio performance can take many shapes, and no single approach is perfect. We encourage organizations to determine what is most important within their programs and then shape their investment performance evaluation methodologies accordingly. Additionally, we suggest that organizations not react too hastily or too drastically to perceived underperformance. Essentially all investment strategies will have their relative ups and downs. More important than short-term performance is whether the investment program is operating accordingly to a well-structured investment policy.

This article adaptation is from our partner, Cornerstone Management . Cornerstone Management has proudly provided independent financial planning services to Christian nonprofit organizations for over 30 years.

Ask a School Insurance Underwriting Expert: What Does a Cyber Policy Cover?

Thu, 16 Feb 2023 14:38:38 GMT

Question: In Layman’s Terms, What Does a Cyber Insurance Policy Cover?

Great question! It’s important to understand your policy coverage as schools are a target for bad cyber actors who may cause operational delays and potentially expose the school’s personal identifiable information or PII.

Not all cyber policies are equal. Many changes have occurred in the marketplace including high rate increases, reduced limits, higher deductibles and narrower coverage terms. Depending on your individual policy and exposure makeup, coverages may differ, but typical coverages you should look for in your cyber insurance policy include:

Incident response costs. Coverage for costs to notify those affected by a cyber breach at a school such as parents, students and teachers. This coverage also handles fines and penalties levied by government entities, which put the cyber exposure cleanup responsibility on schools (some of which are due to lax security).
Information technology security and forensics costs. Coverage for costs to secure a breached network or asset and investigating the incident.
Cybercrime. Coverage for damage costs related to thefts of funds and records. This coverage usually responds to ransom demands which is controversial. Governmental authorities often discourage schools and other cyber victims from paying any ransoms. There’s certainly an argument that such coverage is morally questionable, and over time it’s becoming less common to meet ransom demands.
Systems damage and business interruption. Coverage for costs to restore an out-of-operation computer system due to an attack as well as lost productivity.

Since underwriting cyber policies has become more complex, there are additional issues that could affect the availability of coverage including:

Multifactor Authentication (MFA)

This is the security practice of restricting access to systems until a secondary means of confirmation has been approved. Unfortunately, the multifactor authentication tool doesn’t work fully in the education sphere with its diverse users and divergence of their concerns. To illustrate, schools must have open system access to multiple types of users—teachers, administrators, students, alumni, parents and service providers. This range of users and the varied information they need to access, creates a risk to school systems. With a large number of records containing personally identifiable information (including medical records and Social Security numbers), schools have become a target for cybercriminals who see value in stealing this information. Many insurers won’t issue coverage to schools without MFA security tools in place. The only concession seems to be that a few insurers are allowing schools 60 days to implement MFA after the beginning of the policy year.

Legacy System Issues

It’s not uncommon for educational institutions to have antiquated systems and security measures needing upgrades. For this reason, schools of all types are viewed as soft targets by the cyber security community.

Risk Management Practices

Educational institutions that successfully manage cyber risk without security breaches are usually treated more favorably by insurers during quoting and renewal periods in a market that has become increasingly difficult.

The most important risk management tool is annual cyber risk awareness training. This instruction educates users who have access to PII, how to identify and address the various cyber threats including phishing, malware attack and ransomware. According to a recent IBM “Cyber Security Intelligence Index Report,” human error was a contributing factor in 95% of all cyber breaches, making user awareness training a top priority. As expected, the most common interface between systems and users is email which is key to any systems’ defense.

Additional good risk management practices are adding firewalls, updating technologies and replacement of legacy systems, and discarding old email servers.

Checklist items for school cyber risk management include:

Store critical data backups off premises and test them regularly. If a cyber criminal destroys or holds data ransom, backups are a lifeline. With regular backups, a school may only lose hours or a day of data rather than losing all its data. While the data records might be stolen, when the regular backups retrieved, the school should be able to get back to some level of normal operations relatively quickly.
Test for phishing by sending out system user emails to monitor responses. Check for system weaknesses by utilizing vulnerability or network penetration testing (hire a consultant or use internal IT experts if financial resources are available). Some schools do no testing, while others may do sophisticated testing as a private corporation might do.
Employ End-to-End encryption to stop cyber criminals from extracting data. Monitor the IT environment on a regular basis to identify signs of suspicious or inappropriate activity. Detecting an attack as early as possible is key to stopping the attack and minimizing damage.

Three Leadership Qualities to Cultivate

duda@aespire.com (Brian Sooy) — Tue, 31 Jan 2023 17:18:58 GMT

Psalm 26 begins this way:

Judge me favorably, O Lord,
because I have walked with integrity
and I have trusted you without wavering.
Examine me, O Lord, and test me.
Look closely into my heart and mind.

2022 was a doozy. We all had personal and professional challenges that stretched us to our limits.

We’re torn in multiple directions.

Our loyalty is tested.

We’re easily distracted.

It doesn’t have to be that way.

Write down these three words and ask God to help you to be wholehearted, undivided, and focused.

Judge me favorably, O Lord, because I have walked with integrity and I have trusted you without wavering. > God wants our wholehearted commitment.
Examine me, O Lord, and test me. > God demands our undivided loyalty.
Look closely into my heart and mind. > God desires us to have a focused heart and mind.

Despite what this world throws at us, God the Father, the Lord Jesus Christ, and the Holy Spirit are our constant companions.

God promises you have everything you need to live a godly life when you’re wholehearted, undivided, and focused.

Are You a Chief Financial Officer or a Bookkeeper?

Thu, 19 Jan 2023 19:47:17 GMT

Many business officers holding the title of Chief Financial Officer are really bookkeepers. This is dangerous for the institution and for the employee.

An institution hiring a chief financial officer (CFO) should receive high-level financial management. An unqualified CFO puts him/her self in a precarious position if all he or she is doing is record-keeping and reporting when your employer is looking for much more than that. An institution of higher education requires solid, strategic leadership; this requires much more than a bookkeeper can or should provide.

What’s the Difference Between a CFO & a Bookkeeper?

A CFO is responsible for:

Financial planning, both long- and short-term
Projecting financial needs to aid in strategic decision making
Interpreting financial data and trends for management use, looking at the story behind the numbers, not just the numbers
Developing effective capital structure, managing institutional assets, managing lender/banking relationships
Managing effectiveness and efficiency of operations
Managing and understanding financial risks

Milestone Advisors says, “...a CFO takes on a broader role in planning for the current and future financial needs of the business.”

CFO Edge says, “While the primary function is to look ahead, the CFO must also be able to understand past financial performance in order to accurately predict the organization’s financial future.”

A bookkeeper is responsible for:

Keeping accurate financial records
Performing accounting transactions
Creating financial reports
Monitoring internal controls
Reconciling cash and other accounts
Performing routine financial and administrative functions

CFO Edge says, “The primary function of the [bookkeeper] is to maintain and operate the books and records of the business, looking back at data already generated.”

The Overture Group says, “A [bookkeeper] is typically the day-to-day manager of the tactical accounting issues.”

A CFO Is a Critical Role in Any Institution of Higher Learning

In the absence of a true CFO, key responsibilities are delegated to inexperienced lower level employees resulting in missed opportunities and reactive decision making. Alternatively, senior administrators (typically the president) assume the duties of CFO in their “spare time.”

We must ask, then, if the president is performing the role of CFO, who is performing the role of president? It is not realistic or advisable for a president, or anyone else, to tack on CFO responsibilities to their schedule. Each of us are limited to the same 24 hours in a day; something will have to give.

A president’s role is vital—if a president is taking even a part of their day to perform CFO responsibilities, those hours, which should’ve been spent on presidential matters, are wasted. An institution cannot reach its full potential without a true CFO. A quality administrative team requires experts in all areas of higher education management, including financial management.

A bookkeeper’s role is to look back. A CFO’s role is to look forward. All institutions require the services of a true CFO. Without it, the institution is guaranteed failure.

Why Do Institutions Settle for a Bookkeeper When They Really Need a CFO?

Lack of Perceived Need

Often times neither the president or the board understand the importance and the value of a CFO. This is most often seen in smaller, less sophisticated institutions with weaker boards. A sophisticated board will understand—and demand—strategic financial leadership.

Current Staff Is “Doing a Great Job”

An excellent bookkeeper is valuable to an institution. Knowing you have quality information is critical. Expecting a bookkeeper to serve as the CFO is irresponsible and short-sighted.

We Can’t Afford It

Maybe because your institution doesn’t have any financial leadership? This is a self-fulfilling prophecy. Poor leadership results in a lack of quality financial planning and management, which leads to a lack of financial progress, which means an institution can’t afford a lot of what it truly needs. A quality CFO can get an institution off this track.

Making the Transition to CFO

If you are an institution looking for a new business officer, gain a deep understanding of the needs of the institution, the roles and responsibilities demanded of your leadership, and hire effectively.

If you are an institution who hired who you thought would be a CFO but you’ve discovered you really have a bookkeeper, you have a responsibility to your employee. They accepted the position on good faith. If you didn’t really understand what you actually needed, that’s not their fault. You will need to work closely with them to either 1) bring them up to speed, by providing clear expectations and the training to achieve those expectations, 2) transition your current employee to someplace else in the institution, or 3) work with the employee to find other employment without jeopardizing their career, their budget, or their family.

If you are an employee that wants to be (or already should be) a true CFO:

Assess your abilities. Do you have what it takes to take your role to the next level? The skills required of a CFO are vastly different than the skills required of a bookkeeper. You need to be honest with yourself—if you took the job of CFO and have recently discovered that you’re really a bookkeeper, you should consider whether or not the job is right for you.
Assess your institution’s ability to help you migrate. Does your president and/or board understand what should happen? The CFO should be an integral part of the senior administrative team. Will your president place that value on you as CFO?
Assess your interest. The expectations of a true CFO are significantly higher than that of a bookkeeper. More stress, more hours, and more responsibilities. Will you be paid more or not? Is it worth it?
Are you adequately educated? A CFO is typically trained as such. A CPA license does not a CFO make. A CFO needs appropriate education—typically a masters degree in a business/finance field. In a few cases, prior work experience can prepare you for this role, although many argue that the work of a CFO is more of an art than a science.
Get connected. Y ou can’t—and shouldn’t—do this on your own. All good CFOs have a network of trusted peers, top-notch resources and ongoing professional development opportunities.
Assess your progress. If you are unable to make sufficient progress within a reasonably quick amount of time, you are endangering your institution and your career. If it isn’t going to work out, make that decision sooner rather than later and work closely with your employer to transition you out of the position.

Resources for Becoming a True CFO

ABACC Resources

Annual Conference : professional development and networking
Focus Webinars : education all year long, free for members
Materials, resources, guides, and tools
Mentoring : experienced professionals coming alongside to help you grow
Networking via the Member Community , Conference, and regional events

Additional Resources

Controller to CFO (AICPA)

References

Controller or CFO? That is the Question (The Overture Group)
The Difference Between a Bookkeeper, Controller and CFO (Milestone Advisors)
CFO vs. Controller vs. Bookkeeper (Lamplighter Financial)
The Critical Role of the CFO (Metis CFO Partners)

A Prayer for 2023

duda@aespire.com (Brian Sooy) — Sun, 01 Jan 2023 14:23:27 GMT

Lord, now that it’s 2023 reveal the good works you planned for me, the goals you set before me, and your vision for my success.

Guard me, guide me, and grow me so I can be more like Jesus.

Reveal your glory to me like you did for Moses.

Empower me to find joy in doing good for others.

Let me experience your deep love and the joy of faith in you. Amen!

Ways to Enhance Affordability in Higher Education

Tue, 13 Dec 2022 20:04:29 GMT

My family visited our “go to” restaurant recently to get the combined meal for two. We have found that two orders of fajitas can feed our family. However, the deal has changed a bit, and fajitas are no longer an available option.

The next week we learned that the medium pizzas we used to order now appear to be small pizzas. The prices have not changed, but the serving sizes have decreased. The impact of inflation is felt daily whether it is food, fuel, clothing, utilities, or much more. As the cost to produce a product or service increases, the price you pay increases.

In a recent study produced by the College Board, it appears that colleges and universities are not passing along the full impact of inflation to students. According to the Trends in College Pricing and Student Aid 2022 , tuition and fees increased at a pace lower than inflation. Published tuition and fees for public four-year (in-state) institutions increased by 1.8% and private nonprofit four-year institutions increased 3.5%.

This result may be linked to the timing of the tuition and fee approval process, which occurs at least one year in advance of implementation. In addition, schools are cautious of the disconnect between the perception of tuition, the cost to operate an institution of higher learning, and the value of a degree. The prime question is affordability.

Let’s be honest with ourselves—education is expensive because it is a personal service. Pedagogy, by its very nature, is a personal experience that cannot be automated or outsourced.

Know the Cost to Deliver an Education

What can university leaders do to help address the issue of college affordability when college is inherently expensive? A good place to focus on the journey toward affordability is to understand the true cost to deliver services. Do you know how much it costs to provide a course of instruction or a degree to a student? Calculating the basic cost of business will help enable you to make informed decisions on tuition and fees. The analysis should both calculate and display the educational component and the support service component.

The direct cost of education is composed of the classroom activities such as faculty salary and benefits, supplies, equipment, department budgets, administrator wages, and other academic support staff pay and benefits. At this cost level, leadership can make data-informed decisions on the direct instructional costs compared with net tuition and fees. Allocating these costs to the student credit hour will inform leadership of the specific margin dollars per credit hour at the course level. This exercise should be able to answer the question: What does it cost to provide instruction?

The next level of cost allocation could be considered an overhead allocation. These costs should include broader university operations such as academic support, student services, and institutional support. Through a credit hour allocation, leadership can now parse out the direct and indirect costs to each course and department across the institution.

Understand Net Tuition & Fees in Relation to Costs

Tuition and fees are not the sole sources of revenue for institutions of higher learning. In fact, it is healthy to maintain a diversified revenue portfolio that includes government grants, private giving, auxiliary services, and endowment income.

Net tuition is a critical component of the operating model. While prospective students typically see the “published” cost of tuition on the school’s website, net tuition is the driving force for cash flow to the institution. Unfortunately, unfunded scholarships are increasing in both private and public institutions. Student enrollment pressure is driving up discount rates and lowering overall net tuition. That is a losing formula in the long term.

The College Board noted that the average net tuition and fees—in 2022 dollars—paid by first-time, full-time students enrolled in both private nonprofit and public four-year institutions have declined over the past six years and seven years, respectively. It is unlikely that these tuition decreases are by design or correlated with actual costs to operate the university.

Academic leaders need to better understand and manage the relationship between net tuition and fees and the actual cost to deliver a degree. As of now, many institutions are depending on other sources of revenue to meet budgetary demands. The ever-increasing “published tuition and fees” are not supporting the cash flow needs of the institution.

Explore Alternative Options to Enhance Affordability

A pathway toward affordability also could involve innovative methods of delivery. The pandemic has taught us that colleges and universities do have the capacity to pivot. If we can find a new way to challenge the status quo and strive toward innovation, we may discover that affordability is achievable.

Schools are helping students with affordability by offering multiple start dates to onboard students throughout the year. These programs help match course timing with the schedules and are often linked to short-term degree or certification programs. By providing a rich educational experience to students who are not interested in the full 15- or 16-week session, your institution is creating new pathways for student success. Employee sponsorship is another avenue for affordability whether through scholarship opportunities or the use of experienced adjuncts. These workforce relationships can help bridge the skill and competency gaps that connect students and faculty to meaningful careers and long-term student success. Other considerations may include self-paced programs that provide flexibility and a lower cost of delivery.

As your institution explores the relationship between net tuition by program and course and the actual cost to deliver the program and course, you may discover an imbalance in the economic model. Finding the correct mix of full-time faculty and adjuncts is an important feature of a program’s economic analysis. The balance between academic quality and cash flow is an important topic of conversation that is required for viability. This could include conversations about the use of full-time faculty in lower-level versus upper-level courses or by program type. It also would be important to consider the amount of release time faculty have in their contracts to “not teach.” Many times faculty are paid, via load release, to serve on academic or nonacademic committees or perform other duties. In addition, it may be that your institution is paying a stipend on top of the load release.

This article adaptation is from our partner, Forvis Mazars, LLP . Forvis Mazars is ranked among the nation’s top 10 public accounting firms.

A Pre-Incarnation Reflection

duda@aespire.com (Brian Sooy) — Sun, 11 Dec 2022 17:00:00 GMT

The mystery of Christmas is God with us and God like us.

Christmas always feels like a train approaching fast and flies by before we know it.

So before the time flies and you're wondering where Christmas went, slow down and read the incarnation story as told in Isaiah 49.

Here's the pre-incarnate Jesus, prophesied by Isaiah:

‘“Listen to me, you islands.

Pay attention, you people far away.

Before I was born, the LORD chose me.

While I was in my mother's womb, he recorded my name.

He made my tongue like a sharp sword

and hid me in the palm of his hand.

He made me like a sharpened arrow

and hid me in his quiver.’

Isaiah reveals God’s purpose for Jesus' ministry to Israel:

‘He said to me,

“You are my servant Israel.

I will display my glory through you.”

But I said,

“I have worked hard for nothing.

I have used my strength, but I didn't accomplish anything.

Yet, certainly my case is in the LORD’s hands,

and my reward is with my God.”

The LORD formed me in the womb to be his servant

in order to bring Jacob back to him and gather Israel to him.

(The LORD honors me,

and my God has become my strength.)’

Then it gets good. Really good.

Isaiah continues the Christmas story (this is where it gets better and holds promise for all people!)

Now, the Lord says,

‘“ You are not just my servant who restores the tribes of Jacob and brings back those in Israel whom I have preserved.

I have also made you a light for the nations
so that you would save people all over the world.” ’

Isaiah 49:5-6 (GOD'S WORD Translation)

God tells Jesus, "You are not just my servant. You are more. You are a light and the salvation for everybody."

Our Jesus, our Savior, is always more than who we think he is.

Photo of The Pietà, Rome, Italy ©Brian Sooy

The Path to God’s Peace: Put Your Thinking Into Practice

duda@aespire.com (Brian Sooy) — Tue, 01 Nov 2022 13:55:24 GMT

These words need little commentary or explanation; the command is clear: Think about things that are excellent or right.

“And now, dear brothers and sisters, one final thing. Fix your thoughts on what is true, and honorable, and right, and pure, and lovely, and admirable. Think about things that are excellent and worthy of praise.” (Phil. 4:8 NLT, a thought-for-thought translation)

“Finally, brothers and sisters, keep your thoughts on whatever is right or deserves praise: things that are true, honorable, fair, pure, acceptable, or commendable.” (Phil. 4:8 GOD’S WORD, a meaning-for-meaning translation)

“Finally, brothers and sisters, whatever is true, whatever is worthy of respect, whatever is just, whatever is pure, whatever is lovely, whatever is commendable, if something is excellent or praiseworthy, think about these things.” (Phil. 4:8 NET, a literal translation)

The Apostle Paul ties thinking to action with an expected outcome (you have to read verse 9 in Philippians):

Think about excellence and rightness.
Put the things you think about, see, and learn into practice.
Experience God’s peace and presence.

It’s easy enough to say we should think about the world differently. It takes resolve to turn intent into action.

Perhaps that’s why we don't have the peace God intends for us: We think about things without practicing them.

You experience God’s peace when you put his thinking into practice.

It seems so obvious.

4 Kinds of Maintenance for Your Facility Assets

Mon, 12 Sep 2022 18:46:32 GMT

When we talk about cost savings in asset management and maintenance, what does that really mean?

Some will say it’s the bottom-line numbers in a proposal, while others might suggest it’s about fixed-cost programs, which offer financial predictability for budgeting.

Neither answer is necessarily incorrect, but it’s also important to acknowledge the impact an onsite facilities team has in managing day-to-day costs—especially when it comes to maintenance and asset upkeep.

An experienced team will know how to predict and control these costs. This takes good instincts and the confidence to talk about the long-term savings of some short-term expenses. Most of all, it requires a well-thought-out plan that accounts for your facilities program’s unique goals and circumstances.

From boilers to leaf blowers, over time your facilities team will maintain, repair, or replace every piece of your building’s equipment. The question is how often and under what circumstances you want those repairs done.

4 Kinds of Facilities Asset Maintenance

You may see different terms or slightly different approaches to maintenance programs, but generally speaking, you can expect to see four kinds of asset maintenance in your facilities programs: preventive , planned , responsive , and emergency .

Preventive Maintenance

Preventive maintenance refers to regularly-scheduled tasks that keep your building’s equipment in good working order. This is done before equipment is in immediate need of repair and helps prevent more expensive repairs over time.

Preventive programs are carefully designed to manage long-term costs. Through data-driven decisions, your facilities provider will schedule routine check-ups that can help avoid costly downtime and actually extend the life of your school’s valuable equipment.

The right facilities management team will have a roster of qualified specialists to work with, either on staff or as reliable subcontractors. This means your boiler inspection won’t be delayed while your provider looks for available technicians.

Cost Savings

As educational institutions at every level face budgetary constraints, preventive maintenance is one of the best things you can do to avoid unexpected expenses. Scheduled inspections and maintenance of your equipment can save money by reducing unplanned, costly emergency repairs.

Safety

One way to reduce workplace accidents is by ensuring all equipment is functioning safely and properly. Preventive maintenance, of course, is a key element in a safer work environment.

Efficiency

Regular check-ups help predict how well, and for how long, each piece of equipment will run. More insight equals fewer breakdowns, so you’re allowing your facilities team to work more efficiently, keeping team members on task and on schedule.

Planned Maintenance

Like preventive maintenance, planned maintenance is done before problems arise. But it’s different from preventive maintenance in that it includes tasks with a cycle longer than one year. This can include painting buildings, flood coating of roofs, and seal coating of parking lots, for example.

Cost Savings

Planned maintenance is a must for any education client looking for cost savings. An experienced provider will know when these longer-term activities typically need to be performed and can work them into the budget accordingly.

Comfort

You want a comfortable educational environment for students, staff, faculty, administrators, and the community. A planned maintenance program contributes to their comfort by scheduling projects long in advance.

Responsive Maintenance

Responsive maintenance is non-emergency corrective work done as problems arise. It can range from basic, unplanned work that corrects nuisances – a flickering fluorescent light, for example–to non-emergency tasks involving moderate to major repairs that require skilled technicians.

This is the most high-profile kind of maintenance in educational facilities, since issues are often reported by staff or students. Your facilities team should be able to respond quickly, using effective job-routing and staffing to get the job done.

Can Be Low-Cost

Some responsive maintenance will always be necessary, and you should have a well-trained facilities team in place to handle it. However, because responsive work is done only when needed, a strong preventive program (and maybe a little luck) can keep responsive maintenance costs to a minimum.

Emergency Maintenance

Emergency maintenance is, by definition, urgent and unplanned–which makes it costly in terms of dollars spent, the comfort of your staff and students, and the time diverted from your core mission of education. A well-managed program will make emergency repairs far less common and far less expensive.

The goal for administrators is to reduce the need for emergency repairs through preventive, planned, and responsive maintenance.

This article adaptation is from our partner, HES Facilities Management . HES is a premier national provider of facilities management services focused 100% on educational institutions.

Are You Reliant on God?

Tue, 30 Aug 2022 15:48:13 GMT

"A person’s steps are directed by the Lord,
and the Lord delights in his way.
When he falls, he will not be thrown down headfirst
because the Lord holds on to his hand."
(Ps 37:23-24, GOD'S WORD Bible )

If you’re a Christ follower, God promises that when you stumble, he holds you by the hand.

If you fall, he’ll help you up.

But if you’re struggling to get by without the power of the risen Savior, all you can do is rely on your strength, skills, and abilities.

As we study dependence, we'll dive deep into the idea of being reliant on Christ, a key dimension of your leadership identity in Christ.

In the meantime, may the Lord grant you success in all you do!

Satisfy us every morning with your mercy
so that we may sing joyfully and rejoice all our days.
Make us rejoice for as many days as you have made us suffer,
for as many years as we have experienced evil.
Let us, your servants, see what you can do.
Let our children see your glorious power.
Let the kindness of the Lord our God be with us.
Make us successful in everything we do.
Yes, make us successful in everything we do.
— PS 90:14-17

Think Like a Butterfly

duda@aespire.com (Brian Sooy) — Tue, 21 Jun 2022 14:36:19 GMT

Picture two butterflies, sitting on a branch:

One butterfly says to the other butterfly, “True, you’re a butterfly now, but you still think like a caterpillar.”

Sound familiar? Our identities are bound up in the story we tell ourselves.

Is your desire to do the work you do with confidence and excellence?

Then approach it with those goals in mind. Stay educated. Learn new ways to improve yourself so you can grow in confidence and manage your institution with excellence.

Don’t think about being better.

Think different .

My Bible paints a different picture of who God says you are, and how you should think about yourself. It tells me in Ephesians 2:10, “You are God’s masterpiece. He has created us anew in Christ Jesus, so we can do the good things he planned for us long ago.”

What does your Bible say?

In Philippians 4:8 the apostle Paul exhorts us, “Fix your thoughts on what is true, and honorable, and right, and pure, and lovely, and admirable. Think about things that are excellent and worthy of praise.”

Start thinking of yourself as a saint whom God is transforming into the image, or identity, of His beloved son.

When you think of yourself in God’s terms, you’ll speak about yourself in God’s words — as a beloved and cherished member of God’s new family.

I don’t know about you, but I would rather live with the promise of the future state instead of in the hopelessness of the past.

Top Reasons for Issuing an RFP for Athletic Insurance Broker Services

Mon, 13 Jun 2022 15:23:26 GMT

Why should you issue an RFP for athletic insurance broker services instead of an RFP for athletic insurance?

The most important decision a college or university can make for its athletic accident insurance program is the selection of an insurance consultant/broker to advocate for their institution. The insurance consultant/broker provides expertise and valuable services to support the Institution’s overall athletic accident insurance program that may not be considered through a product-only RFP.

Examples of broker services include:

Ability to evaluate the specific needs of the institution and strategically target companies that can provide these services.
Experience evaluating the benefits that are provided by carriers and administrators, as well as the possible exclusions from the athletic accident insurance programs.
Comprehension of the services and abilities provided by a claim’s administrator and understanding of how their compensation impacts overall medical expenses.
Thorough understanding of the various nuances associated with such a unique insurance product.
Provide risk-management consulting to help reduce overall medical and insurance related expenses.
Serve as the primary contact to address issues or concerns with all companies involved with the program.
Experience in leveraging a school’s healthcare strategies to negotiate with insurance carriers and claims administrators.
Access to ancillary products (e.g., student accident plans) to complement an insurance program.
Coordinate insurance premium payments, policy review, and distributing supporting materials.
Serve as the hands-on advocate for the school.

College and university stakeholders are often unaware that most insurance carriers providing coverage for athletic accident insurance typically do not sell their products direct to an institution. The carriers rely on consultants/brokers to offer their products to the consumer.

When a college or university releases an RFP for an “insurance product” (instead of consultant/broker services), brokers scramble to try and reserve carrier markets, as carriers will typically not allow multiple brokers to offer their product to an institution. Most institutions overwhelmingly value price over other factors presented by the consultant/broker during the decision process, which means they may often select a company that simply was the quickest to offer a low-priced insurance carrier for a quote as opposed to selecting a consultant that presents better advocacy for the students and service for the institution.

This highlights the importance of selecting the correct consultant versus an insurance product in the RFP process. Selecting the consultant/broker based on their services and expertise will ensure your institution has the best overall program to fit the needs of both the student and school.

Suggestions for the Development of an RFP for Broker Services

Allow RFP responses to be sent electronically if possible. This allows for easy distribution to all committee members and allows brokerage firms to submit proposals quickly and efficiently. This will also encourage more companies to submit a proposal.
Coordinate a meeting with finalists either in person or via a webinar. It has been our experience that a general presentation by the broker will provide further clarity for the evaluation committee, who are generally not experts in this type of insurance, on how these programs work. There are various nuances that lead to the potential increase of unrealized cost when selecting a product based solely on premium. It will also possibly lead to more questions by the committee and provide a chance for further clarification.
Refrain from asking for product pricing during the broker RFP process. The selection of an insurance broker to represent your institution should not be decided solely on the price of the product they can bring you, but the overall advocacy services and access to the marketplace they can provide.
It is best to offer multi-year agreements with the selected broker. Some brokerage firms may decline to present a proposal if they feel like the broker process will occur annually.
Provide an outline of the evaluation process in the RFP. Brokers are interested in the specifics of what a school is looking for and how the final decision will be made.
Provide a general summary of your current athletic accident insurance program. This does not need to be overly detailed, but it is helpful to know if your program is a fully insured program, or aggregate. What the deductible level is. What sports are currently covered, etc. There is no obligation to include loss or premium information during the RFP process.

The Power of Being Alone with God

Mon, 09 May 2022 17:35:23 GMT

While traveling on business, I decided to “unplug” and take an early afternoon walk in the park—just me and God. With all that was pressing, I questioned if this was the best use of my time. However, a couple of hours later I emerged more clear-minded, energized, and refreshed, making the rest of the day much more productive and enjoyable.

In a world increasingly chaotic and demanding, it’s easy to become so responsive to time demands that it’s almost as if we become “trapped” by our responsibilities. Jesus experienced this also, but His response was strategic and noteworthy.

When the crowds demanding Jesus’ attention grew, we read that He would “withdraw to desolate places to pray” (Luke 5:16). He knew that spending time alone in His Father’s presence was vital to His ability to continue shouldering His earthly responsibilities. The same is true for you and me. If we wish to be successful in fulfilling God’s purpose for our lives, we must also take time to be alone with God and pray.

Here are some examples we see in the life of Jesus when we should “unplug” from people and responsibilities to be in God’s presence and pray:

When preparing for a big assignment. After Jesus’ baptism, He retreated to the wilderness for 40 days where He was tempted and prayed just prior to beginning His public ministry (Luke 4:1-2, 14-15).
Before making an important decision. Prior to selecting His disciples, Jesus spent the whole night alone in prayer (Luke 6:12-13).
To refresh after hard work. After sending the disciples out to do ministry, Jesus encouraged them upon their return to get away from everyone and rest (Mark 6:30-32).
When working through grief. After His cousin John the Baptist was martyred, Jesus went away by Himself to grieve (Matthew 14:1-13).
In times of great stress. Shortly before Jesus was arrested and while in emotional agony, He went to the Mt. of Olives and retreated a short distance away from His disciples to pray (Luke 22:39-44).

As demand for our time and attention grows, so does our need to “withdraw to desolate places to pray.” If you wish to be refreshed and refueled to better live out your passion and purpose, make an intentional decision to “unplug” from everything and everyone to spend time with God even when life is at its busiest.

There is great power in being alone with God.

This devotional is from our partner, Christian Healthcare Ministries, a budget-friendly, biblical, and compassionate healthcare cost solution for Christians around the world.

Seeing the World Through the Lens of Truth and Beauty

duda@aespire.com (Brian Sooy) — Mon, 09 May 2022 13:36:50 GMT

"And now, dear brothers and sisters, one final thing. Fix your thoughts on what is true, and honorable, and right, and pure, and lovely, and admirable. Think about things that are excellent and worthy of praise." (Phil 4:8 NLT, a thought-for-thought translation)

"Finally, brothers and sisters, keep your thoughts on whatever is right or deserves praise: things that are true, honorable, fair, pure, acceptable, or commendable." (Phil 4:8 GOD'S WORD, a meaning-for-meaning translation )

"Finally, brothers and sisters, whatever is true, whatever is worthy of respect, whatever is just, whatever is pure, whatever is lovely, whatever is commendable, if something is excellent or praiseworthy, think about these things." (Phil 4:8 NET, a literal translation)

I know I'm not alone in thinking this way. T he news is toxic and divisive, religious freedom and liberty are under constant attack, and the state of trust in our governing authorities is at the lowest point ever.

It takes intentional effort to shift our focus on what is wrong and the hope we have in Christ Jesus.

Philippians 8 reminds us to focus on truth and beauty in the broadest terms.

Truth, because what is true never changes, whether it's a spiritual truth, a factual truth, or a scientific truth. Truth (with a capital "T") is absolute. The Truth reminds us of God's unchanging character and gives us an anchor in the stormy sea of life and work.

Beauty has many dimensions. An elegant solution is beautiful, a functional design can be beautiful, and creation (despite the broken nature of this world) is gorgeous. God makes beautiful things, and he wants us to enjoy them and create them. Beauty reminds us that God is extravagant and generous in his desire to create beauty.

All this is about renewing our minds and changing the way we think.

Brothers and sisters, think about everything through a lens of truth and beauty, and share how it changes the way you think!

Variable Pricing Combats Doubts About ROI

Mon, 11 Apr 2022 18:11:34 GMT

Survival for the residential, four-year, private Christian college model will almost certainly require new pricing.

Any learner-centered strategy for higher education institutions should include an analysis of the potential for variable pricing. At most US Colleges and Universities, there are two variations for pricing—in-state and out-of-state—yet the amount students are actually paying for the same educational experiences varies dramatically based on the aid package, scholarships, and discounts they receive. Variable pricing already exists. It just exists behind the curtain of financial aid packaging.

Every student in a college dorm is probably paying a slightly different amount to attend the same school, yet it would be rare for a student who is “shopping” for a school to have advanced knowledge of what the actual cost for them might be. They exclude schools from their list of potentials as “too expensive” when in fact they may not be, and they include schools where they think they may receive a decent financial aid package only to find out that they didn’t.

As the parent of a high school senior, it almost feels like colleges don’t really want students to use price as a deciding factor when choosing where to attend. And yet, learners and their families indicate again and again that cost is a major factor in choosing a college.

A national survey with data from 55,000 students indicates that of the 6,000 students who were accepted but did not attend their first-choice schools, 40% of them declined because of cost.

What would have happened if those first-choice schools had been able to offer those 6,000 students an alternative model that comes with a lower price tag? What if those students could attend their dream school at half the cost because they agree to take half of their courses online? Several models for online delivery make it an affordable option for universities who can pass those savings on to students by offering reduced tuition for online courses.

But if online courses are cheaper, wouldn’t every in-person student just switch to online to save money? It is difficult to predict what students will or won’t do, but we can look at case study examples. The University of Central Florida has been an online learning leader for 25 years. At least since 2010, they have been offering in-person students the option to take courses online. As of 2019 (pre-COVID), 49.4% of UCF’s total student credit hours were taught in the online or blended modality. Even after nearly 10 years, half of all courses are taken in-person.

Many public universities do not vary pricing based on modality. The national average per-credit-hour rate for tuition and fees at public universities is $311 for in-person courses and $316 for online courses (online often includes a technology fee). Private universities are an entirely different story.

The national average per-credit-hour rate at private schools is $1,240 for in-person courses and $488 for online courses . If the online course rate were available to students living on a physical college campus, students could drastically reduce their overall cost for the in-person college experience and many more of them might choose to enroll at small, private liberal arts schools that are struggling to fill empty dorm space.

Two other drivers should prompt higher education leaders to consider a strategy that includes variable pricing based on learning modality—the student loan crisis, and persistent doubts about return on investment.

Article after article has been written to explore data on the amount of student loan debt in the US. Today in the US, according to Forbes , 45 million people have student loans totaling $1.7 trillion dollars, a 144% increase from 2007. The huge debt dollar amount (more than US combined credit card debt) is partially attributed to a rise in tuition prices. Consumers might stomach the higher costs if they were assured of a positive outcome, but that too is in question.

Skepticism about the value of an expensive college education is increasing. Harvard-trained economist Laurence Kotlikoff advises against borrowing for school and writes, “Do what it takes, short of borrowing, to attend college if that’s your goal. But also know that two-thirds of Americans are leading full and highly productive lives without the aid of a college diploma lost in a box in the attic.” One could argue that there are plenty of data to show that completing a bachelor’s degree increases lifetime earnings, happiness, and life expectancy. However, the tides could be turning quickly enough that longitudinal data hasn’t caught up.

This article excerpt is from our partner, Campus, an EdTech company that is building an unprecedented suite of tools to transform higher education.

Massachusetts vs. the Mission of Gordon College

Wed, 09 Mar 2022 14:32:38 GMT

Can a Court Dictate How a Christian College Carries Out Its Mission?

Many students choose Christian colleges because they want to integrate learning with their faith. And Christian colleges wouldn’t exist if they could not make decisions according with their beliefs—that’s the whole point of their existence.

Under the First Amendment, religious organizations like colleges have a right to keep their faith an integral part of their operations through their employment decisions, without government interference.

The U.S. Supreme Court has made it clear that the government should stay out of religious schools’ hiring practices.

But, apparently, the Supreme Judicial Court of Massachusetts did not get the memo.

And now the mission of one Christian college is in jeopardy.

What is Gordon College?

Gordon College is a Christian college in Wenham, Massachusetts. Originally known as Boston Missionary Training School, it “strives to graduate men and women distinguished by intellectual maturity and Christian character.” The college does this by combining a high-quality liberal arts education with religious instruction.

But it’s because of this integration of faith and learning that students choose to attend Gordon College. They want to learn how to apply their Christian faith to their future careers.

At Gordon College, professors are key to helping students make this connection. Professors are expected to teach not only the subject matter in their classes, but also the faith—and how it all relates.

That’s why, to ensure that it is staying true to its beliefs and mission, Gordon College requires students and faculty alike to sign a statement of faith and agree to abide by biblical standards of living.

And the college is open not only about these requirements but also its faith-based mission, as a quick tour of the college’s website confirms.

This article excerpt is from our partner, Alliance Defending Freedom (ADF). ADF advocates for your right to freely live out your faith.

ABACC and ADF are working together to advise, prepare, and protect your institution. ABACC members get 20% off ADF membership dues.

Making Peace in a World of Turmoil

duda@aespire.com (Brian Sooy) — Mon, 07 Mar 2022 15:04:31 GMT

Our hearts are heavy today as we pray and think about the state of the world and our nation.

There’s a root cause to what divides people and nations, and there’s one person who can unite us and bring peace.

At one point in our pasts, we “had no hope and were in the world without God.”

But now.

“But now” are the two words you should always pay attention to throughout the Bible. They alert you to a significant change from the way things were (the problem) to the way things are (the solution), and point you to the way things will be (restored).

“But now through Christ Jesus you, who were once far away, have been brought near by the blood of Christ. So he is our peace.”

“That is why you are no longer foreigners and outsiders but citizens together with God’s people and members of God’s family.”

In Christ, not only can we find peace, but we are also peacemakers—working together with God to bring the Good News of peace to the people we live with, work with, and serve with.

All references are from Ephesians 2, GOD’S WORD Translation .

The Paradox of Rest

duda@aespire.com (Brian Sooy) — Fri, 04 Mar 2022 14:10:50 GMT

The Bible is full of the paradox of rest and restlessness.

We get an extra day and a long weekend, only to fill our days we should rest with activity, so we return to work tired.

The psalmist asks more than once,

“Why are you discouraged, my soul?
Why are you so restless?
Put your hope in God,
because I will still praise him.
He is my Savior and my God.”

King David, Psalm 43:5, GOD'S WORD Translation

The raging wind and storm can be the hectic schedules and pressure we face every day at work. While we may not fly away, we can seek daily and weekly rest to find shelter and refuge in God through times of stillness, reflection, and quiet.

"Have you ever noticed that Jesus asked a lot of questions?

In many of his interactions, he responded to questions with a question.

Questions do two things. First, questions compel us to slow down:

By asking questions, Jesus showed us the value of restfulness.

Slowing down makes time for relationships (With God and with others),
Slowing down creates opportunities to speak truth into your colleague’s lives,
Slowing down creates margin to receive truth from your colleagues, and
Slowing down builds the capacity to love those around you.

How will you practice restfulness in the midst of a restless life?

Three Things Courageous Leaders Do

duda@aespire.com (Brian Sooy) — Wed, 09 Feb 2022 13:33:49 GMT

The world needs confident and courageous leaders, especially during uncertain times.

Do you ever wonder why Jesus, the son of an obscure carpenter from Nazareth, was popular with the masses and drew people to himself?

People follow leaders who give them hope.

You can be a leader who give people hope if you do these three things consistently:

Pay attention to what the Lord is doing,
Understand what the Lord wants,
Pray for wisdom and understanding.

Confident Leaders Pay Attention

In a lengthy conversation with Israel from Isaiah 5 , God chastises Israel for its apathy when it should be like the watchmen on the walls of Jerusalem:

“At their feasts there are lyres and harps,
tambourines and flutes, and wine
Yet, they don’t pay attention to what the Lord is doing
or see what his hands have done
My people will go into exile
because they don’t understand what I’m doing.
Honored men will starve,
and common people will be parched with thirst.”

Confident Leaders Understand What the Lord Wants

The Apostle Paul had a similar challenge for the Ephesians (and for us):

“So then, be very careful how you live. Don’t live like foolish people but like wise people. 16 Make the most of your opportunities because these are evil days. So don’t be foolish, but understand what the Lord wants.” ( Ephesians 5:15-17 , GOD’S WORD Translation )

Confident Leaders Pray for Wisdom and Understanding

When a leader is confident, courage follows.

We’re all familiar with what God told Joshua and overlook what he told Nahum:

“The one who will scatter you is coming to attack you.
Guard your fortress!
Keep a lookout on the road!
Prepare for battle!
Be very courageous!” ( Nahum 2:1)

How do you prepare for battle? Pray. Not just for your own needs; pray for the people you lead and the people you love so they are also ready for what’s next.

“For this reason we have not stopped praying for you since the day we heard about you. We ask God to fill you with the knowledge of his will through every kind of spiritual wisdom and insight (understanding). We ask this so that you will live the kind of lives that prove you belong to the Lord.” ( Colossians 1:9-10 , GOD’S WORD Translation )

God knows uncertain times call for confident and courageous leadership.

Don’t be a reluctant leader. Somebody you follow is going to call you to march with them into the breach because they’ve seen what’s coming.

Don't wait for the spark to start a movement, be the spark.

Are you up for the challenge?

This devotional is republished by permission by EntreWorship .

The Flip Side of Renewal

duda@aespire.com (Brian Sooy) — Mon, 03 Jan 2022 19:58:00 GMT

My computer alerted me yesterday that my keyboard battery was low, so I plugged it into a power source.

If we don’t constantly recharge the batteries, our electronics are useless.

Think about it. Without power, the tools we rely on to do business every day are worthless. Their power source must be renewed, sometimes every day, like the Apple watch many of you wear. They have a fixed capacity and an expected runtime.

Without the spiritual power God gives us, we’re not as effective as we can be for his glory and the good of others. Lack of spiritual power limits our effectiveness, our endurance, and our output.

Aren’t you weary? After the last 21 months, how can you recharge your power source so your faith, mind, and attitude are at capacity?

Most modern Bible translations reference “renewal” in some form at least 66 times and it’s consistent across most translations! Among the verses:

Put on the new self, which is being renewed in knowledge in the image of its Creator (Colossians 3:10)
Renew your thoughts and attitudes (Ephesians 4:23)
Those who hope in the LORD will renew their strength (Isaiah 40:31)
Be transformed by the renewing of your mind (Romans 12:2)

God expects us to renew who we are — our knowledge, our attitudes, our strength, and our mind. Like a battery, we must turn to him — plug in, get connected, spend time — to recharge. We aren’t built with long-term energy storage. We are made with a constant need for daily renewal and recharging.

The way to recharge is by allowing God to fill you with the Holy Spirit and Christ’s resurrection power.

This is what the centuries-old cycle of creation, fall, redemption, and restoration leads to — renewal!

Shining a Light on Postsecondary Blind Spots: 6 Key Interdependencies

Thu, 04 Nov 2021 19:22:52 GMT

The education policy landscape for commercial insurance has changed dramatically over the past decade. Business administrators need to be informed and equipped to identify “red flags” in commercial insurance policy language in order to proactively address potentially costly institutional blind spots within their coverages. In order to shine a light on potential blind spots, it is important to identify and investigate nebulous, emerging, and overlooked risks as these can lead to significant and costly claims. The following four topics are ripe for consideration: Protecting Your Board of Directors , Religious Freedom of Expression , Campus Restructuring , and Cyber Liability . Each exposure warrants risk consideration from a static viewpoint, but these topics can also have dangerous interdependencies, allowing for dynamic institutional losses.

This article provides a summary of key points from a recent ABACC webinar, wherein these four topics and their interdependencies are discussed from a risk perspective, as shown in the diagram below:

Key Points

Protecting Your Board of Directors

Directors & Officers (D&O) coverage protects the personal assets of your leadership.
The quality of a D&O policy is in the details. Coverage starts from a very broad position and is scaled back through definitions (“application” and “insured”), warranty statements, exclusions, and coverage period.
Be careful of eroding the D&O limits through blended policies (D&O and EPLI combined) as well as defense costs offered within the limits.
Always make sure that coverage is truly continuous. Pay specific attention to the Continuity, Prior & Pending Litigation, and Retro Dates.
Many coverage restrictions are available for buy back. The larger the D&O policy is, the more flexibility and purchasing power you have.
Review, review, review. D&O insurance is complex and highly technical. It is not your job to be the expert. Your broker is your best advocate, so use their expertise.

Protecting Your Religious Freedoms

Consistency is key: proactive and defensive strategies are available to protect sincerely held religious beliefs.
On the proactive side, institutional beliefs need to be sincerely held and demonstrated. Those beliefs need to be clearly articulated in vision, mission, and purpose statements, institutional bylaws, and reinforced in departmental policy language.
On the defensive side, claims made by third parties that arise from mental anguish and/or emotional distress may be covered under general liability and excess policies’ coverage limits dependent upon policy language definitions and exclusions, the impact rule, and state legal precedent.
Freedom of Expression Legal Expense Reimbursement (FELER) can provide reimbursement payments up to a predefined sublimit for out-of-pocket religious defense costs.
Beware inter/intra-denominational exclusions within the policy language.

Campus Restructuring

Prior to campus restructuring, verify that the risk management process has been integrated into the strategic planning, organization, and execution, and that you have selected the most appropriate approaches to financing, transferring, and controlling identified risks.
Anytime there is a change in operations, this can open the institution up to new exposures. Proactively evaluate the risks and identify blind spots that are tangibly associated with the changes.

Cyber Liability Insurance

Cyber liability is one line of insurance coverage specific to first- and third-party:
a. bodily injury or property damage,
b. personal and advertising injury,
c. intellectual property, or
d. errors and omissions.
Cyber liability coverage is carve-out coverage, born out of necessity due to increasingly restrictive exclusions implemented within General Liability policy language for electronic data.
As policy exclusions eliminate questions surrounding “silent cyber”, it is reasonable to expect more carve-out, stand-alone policies for cyber coverage beyond Liability. Some examples might include cyber coverage for Property, Directors & Officers, and Commercial Auto lines.
Cyber policies are highly technical and warrant review of the following areas: “Authorized Use”, “Covered Events”, and “Cause of Loss.” It is also important to note first- and third-party coverages and exclusions as these can vary greatly across carriers due to lack of policy and coverage standardization.
Costs are changing in response to the prevalence of claims. Coverage is likely to continue to increase in cost in response to increased claim frequency and severity.
Carriers are reliant on the warranty/surety statements provided about systems, networks, and data. Be sure to have IT specialist complete technical sections of these applications, as even innocent misstatements can be viewed as violations of warranty wherein payment is denied in the event of a claim.

Key Interdependencies

1. Directors & Officers and Campus Restructuring

Anytime there are large financial investments, changes, or new projects, your board of directors opens themselves up to additional exposures. Building campaigns, campus restructuring to a virtual environment, and changes in operations are all “red flags” that should trigger in your mind “D&O exposure.”

2. Directors & Officers and Religious Freedom of Expression/FELER

Claims arising out of Free Speech and Free Expression will inevitably involve institutional leadership, including the directors and officers. The legal process can drag out for years for certain claims, with potential for financial, institutional, personal, and reputational damages. Be especially aware of inter- and intra-denominational exclusions in D&O policy language that would absolve a carrier from duty to defend.

3. Religious Freedom of Expression and Cyber

Always be certain to obtain robust electronic media liability limits within an institutional cyber policy. Electronic media liability insurance covers claims concerning libel, slander, defamation, etc., arising from/in response to electronic data—e.g., internet publications, social media, and blog posts.

4. Cyber and Campus Restructuring

Consideration is warranted for increased privacy security concerns, network security, and cyber security continuity. Virtual exposures extend even to logo design, social media, and blog posts. Other exposures may not be as apparent, such as going through a new building project. With new construction you are interacting with new vendors and contractors. Since cyber is excluded under general liability, anytime there is a campus restructuring it is important to consider those institutional exposures related to information and data.

5. Religious Freedom of Expression and Campus Restructuring

Recall that states treat “emotional distress” and “mental anguish” definitions differently. The same Free Speech/Free Expression claim brought against an institution, considering campus expansion or geographic footprint—whether physical, virtual, or through articulation agreements/use of extension campuses—may produce different results dependent on that state’s interpretation of the impact rule and legal precedent.

6. Cyber and Directors & Officers

To reiterate the points above, anytime there is a significant change, the D&O exposures increase. Consider factors such as the decision to move to a virtual learning environment and the subsequent cyber implications. Has the board of directors done their due diligence to implement systems through a security-by-design framework? Further, consider looking into common D&O exclusions pertaining to cyber and foreign operations. Most policies will exclude D&O coverage stemming from cyber related incidents.

About this Article and Author: “Shining a Light on Postsecondary Blind Spots” is the second of a four-part ABACC webinar/article series dedicated to assisting HR and Finance officers of Christian Postsecondary Institutions navigate the nuances and complexities of commercial insurance. As Christian Risk Advisors, the intended purpose of each webinar is, simply put, to equip the saints. Each installment’s aim is to provide a contextual framework, descriptive detail, and some helpful takeaways, for a digestible glimpse of insurance and risk management processes from multiple angles. In response, financial decision-makers of Christian institutions will be able to take a more proactive and involved approach to insurance decision-making, grounded in understanding and accountability. General or specific questions about topics within this article, the webinar series, or commercial insurance renewals can be directed to Eric Price or by clicking on the Atlas Insurance Agency banner ad within this article. We look forward to continuing to serve ABACC’s member institutions, and God bless.

Eric Price , CSRM, MPP
Christian Risk Advisor

Michael Howard , CRM, CIC, CWCS
Christian Risk Advisor

Demystifying the Insurance Renewal Process: Eight Key Points

Thu, 01 Jul 2021 09:00:27 GMT

1. The commercial insurance renewal is the continuation of ONE part of your institution’s risk management process.

The decision to purchase and renew commercial insurance is contingent upon effective and ongoing identification, analyses, and control of institutional risks, at which point, the decision to finance the risk through one method of transfer (insurance) results in the selection and procurement of specific lines of commercial insurance coverage.

Your insurance renewal is simply the continuation of the contractual agreements between you and the insurance carrier to transfer risk that your institution has decided it cannot fully control, mitigate, or retain. The cost of this risk transfer and associated retention (i.e., the resulting insurance premiums and their respective deductibles) are only two of the components that make up your institution’s total cost of risk. Other factors to consider include departmental changes, outside services, and unplanned direct and indirect costs to the institution.

2. Insurance carriers need a full understanding of the risk they are assuming.

The more unknowns there are with respect to your institution’s property, human resources, liability, and budget containment risks, the worse the renewal outcome will be, which will be reflected in both your renewal pricing (think cost increases) and the value of the commercial lines of coverage offered (either through reduced limits of coverage, or potential exclusions for the types of events that the carrier is willing to assume through transfer of risk).

3. Insurance agents and underwriters are people too, and insurance is a partnership built on trust.

Commercial insurance (especially the renewal process) is a person-to-person, business relationship. A reciprocally proactive (key word) long-term partnership with your carrier/underwriter and agent/agency will yield great dividends with respect to value added and cost savings for your institution’s commercial insurance coverages when each party is properly viewed in this manner.

4. Risk control and mitigation have a direct impact on your premiums and availabilities of coverage.

Proper risk control and mitigation ultimately reduces the overall risk for both your college and the overall risk that the carrier is assuming via risk transfer (insurance). Think back to the intended purpose of insurance coverage: your institution is transferring a risk otherwise deemed internally unmanageable to an insurance carrier. That carrier is assuming your risk, for an agreed upon price. When you effectively control and mitigate institutional risks through adherence to effective policies and procedures, non-insurance risk transfer agreements, retention methods, disaster recovery, litigation management, and claims management processes, the risk that the carrier is assuming is reduced. These risk management methods, when effective and adhered to, make your institution’s risk more appealing to carriers and underwriters. This has direct bearing on your institution’s insurance premium, and the amount of coverage that carriers are willing to provide.

5. When an underwriter receives an insurance renewal submission, that is all they know about your institution.

A basic submission made up of applications, claims history, basic policies and procedures, and a brief narrative is barely a submission. In order to fully tell your institution’s story, it is important to go above and beyond the basic information that is requested. A “top-of-the-stack” submission should include the following items:

An in-depth institutional narrative
Explanations for all claims alongside deep dives into control and mitigation strategies
Up-to-date property photos and catalogued property schedules
Leadership team CV/resumes
Institutional awards and honors
Client/Student testimonials
Plans for future growth or change
Safety committee meeting agendas/meeting minutes
Policies, programs, procedures: going above and beyond the minimum requirements

The submission is the full story of your institution. The more you can “bring to life” your organization and the more information you can provide the carriers/underwriters, the better your story will be, which will be reflected in the renewal terms and pricing.

6. Your institution’s insurance agent or producer serves as the mediator between your institution and your carrier/underwriter.

As such, the agent’s role in the renewal is two-fold:

To present your institution as an indispensable account to the carriers/underwriters; and,
To help facilitate a seamless renewal and long-term carrier partnership.

Procuring your institution’s insurance terms and coverages is the bare minimum; it is merely the blocking and tackling. A renewal that has not been proactively marketed to assess competitiveness across carriers is a missed opportunity for your institution, with the realization that the incumbent carrier should be given first consideration for your institution’s continued business. Remember, insurance is a relationship business. It is the agent’s or producer’s responsibility to set renewal submission standards high enough to justify the incumbent carrier’s continued interest in your institution as a prioritized account. Doing so keeps all parties honest:

On the institution side, establishing high submission standards and process standards sets the table for value-added coverages and premium cost-savings without threat of gaps or lapses in coverage.
On the producer/agent side, proactive advocacy with incumbent carriers and intentional coverage placement with more competitive carriers who are willing to fight for your institution’s business becomes the expectation, rather than the exception to the rule at renewal time.
Given proactive approaches to the renewal by both the institution and producer, on the carrier/underwriter side, consideration for your institution as an indispensable account, reflected in both competitive pricing and value-added coverage, is the natural response.

7. Adherence to renewal process best practices, inclusive of an agreed upon renewal timeline, guarantees proper consideration of your institution by interested carriers.

Effective insurance renewal processes begin between three to four months out from each policy’s expiration date and start with a joint meeting to discuss and prepare an agreed upon game plan. Renewal pricing indications may be received by your institution prior to 45 days from an expiration date from certain carriers, but many carriers will release quotes between 30 and 45 days prior to your renewal. It is critical to review your renewal proposal 30 days prior to each current policy expiration to ensure satisfaction. This is your institution’s opportunity to hold the producer/agent accountable to properly serve and service your account. Creating a stewardship assessment report is a good way for your institution and producer/agent to level-set about agreed upon services and the timing of those services throughout the policy year. The final proposal and review of insurances should be delivered 30 days (one month) in advance of each policy’s effective date to ensure that any changes or requests made by the institution can be addressed or performed by the producer in a diligent and timely manner.

8. Your institution’s goal should be to become a marquee, “top-10” account for the carrier and underwriter.

As previously discussed, when the carrier reviews their book of business, they should always have your institution at the top of their list for retention. This can be achieved by consistent provision of “top-of-the-stack” submissions, adherence to renewal process cadence best-practices (120-90 days process/45-30 days process/30-0 days process), and committing to long-term, proactive agency/producer and carrier/underwriter partnerships.

About this Article and Author: “Demystifying the Insurance Renewal Process” is the first of a four-part ABACC webinar/article series dedicated to assisting HR and Finance officers of Christian Postsecondary Institutions navigate the nuances and complexities of commercial insurance. As Christian Risk Advisors, the intended purpose of each webinar is, simply put, to equip the saints. Each installment’s aim is to provide a contextual framework, descriptive detail, and some helpful takeaways, for a digestible glimpse of insurance and risk management processes from multiple angles. In response, financial decision-makers of Christian institutions will be able to take a more proactive and involved approach to insurance decision-making, grounded in understanding and accountability. General or specific questions about topics within this article, the webinar series, or commercial insurance renewals can be directed to Eric Price or by clicking on the Atlas Insurance Agency banner ad within this article. We look forward to continuing to serve ABACC’s member institutions, and God bless.

Eric Price , CSRM, MPP
Christian Risk Advisor

Michael Howard , CRM, CIC, CWCS
Christian Risk Advisor

Is It Ever All About You?

Wed, 17 Mar 2021 16:00:02 GMT

As believers, we have a complicated relationship with love.

We know we’re supposed to love others, yet we often have trouble believing we are loved and lovable.

Imagine the triumphant King of Israel, the one who rescued us from the power of darkness, celebrating over us with shouts of joy because we are now part of the Kingdom of His son:

The Lord your God is with you.
He is a hero who saves you.
He happily rejoices over you,
renews you with his love,
and celebrates over you with shouts of joy.

Zephaniah 3:17 GW

Believe it: God is with you, saves you, rejoices over you, renews you, and celebrates over you.

It’s not all about you, but it is all for you. When God celebrates over you it’s because he loves you. You’re lovable and loved.

You’re worth the price he paid to redeem you because he alone is worthy to receive the glory for the sacrifice.

What’s on Your Punch List?

duda@aespire.com (Brian Sooy) — Mon, 08 Feb 2021 17:13:11 GMT

If you ever have the opportunity to build a home, you soon learn that it’s not complete or perfect when you move in.

The best builders will use a third-party expert to do a quality inspection and point out what needs to be corrected to make the house ready for the owner. He then delivers a “punch list” to the builder.

God wants to do the same thing with you:

Examine me, O God, and know my mind.
Test me, and know my thoughts.
See whether I am on an evil path.
Then lead me on the everlasting path.
Psalm 139:23-24, GOD’S WORD

God wants to know your intent and motives.
God wants to understand your worries and concerns.
God wants to see if you have any tendencies that lead to sin.
God wants to guide you on the best path for your life.

What is God showing you that needs to be repaired or restored?

What’s on your punch list?

This is The Way

duda@aespire.com (Brian Sooy) — Mon, 18 Jan 2021 15:27:18 GMT

Pastor Mark Batterson challenged me to think about this idea from the Win The Day plan on the Bible app:

“The obstacle is not the enemy; the obstacle is the way.”

What does he mean?

That question reminds me of a verse from Psalm 77 that fascinates me:

“Your road went through the sea. Your path went through raging water, but your footprints could not be seen. Like a shepherd, you led your people. You had Moses and Aaron take them by the hand.” Psalms‬ ‭77:19-20‬ ‭ GOD’S WORD Translation

Even at work, we encounter situations where goals appear unreachable and impossible, especially when we look at them through human eyes.

But when we pray, new solutions reveal themselves because we pray to the Lord who walks the hidden ways we cannot see.

“...Do not be afraid, because I have reclaimed you.
I have called you by name; you are mine.
When you go through the sea, I am with you.
When you go through rivers, they will not sweep you away.
When you walk through fire, you will not be burned,
and the flames will not harm you.
I am the Lord your God, the Holy One of Israel, your Savior.” Isaiah 43:1-3 GW

Whatever you are experiencing now, this time in your life is part of God’s deliberate purpose to change you, mold you, and transform you into the person He intends you to be.

Don’t let circumstances fool you into thinking the path is closed. You might have to go into the deep water to find the way the Lord wants you to follow.

Do You Work for Favor or as Worship?

duda@aespire.com (Brian Sooy) — Mon, 16 Nov 2020 14:02:31 GMT

Do you work to earn favor, or do you work as an act of worship?

In a recent devotional from Jordan Raynor , he wrote:

“God loves you and I no matter how productive or unproductive we are today. Ironically, it’s that truth that gives us the ambition to be wildly productive. Why? Because working to earn someone’s favor is exhausting. But working in response to unconditional favor is intoxicating. Once you realize that God accepts you “no matter how many good things you do,” you want to be productive for His agenda as a loving act of worship.”

Of course, we ought to work for reward (we do want to get paid, after all), but our work is more fulfilling when we work as a response to God’s overwhelming grace!

“God saved you through faith as an act of kindness. You had nothing to do with it. Being saved is a gift from God. It’s not the result of anything you’ve done, so no one can brag about it. God has made us what we are. He has created us in Christ Jesus to live lives filled with good works that he has prepared for us to do.”

Ephesians 2:8-10 GW

Managing an Endowment in a Post-COVID World

Tue, 10 Nov 2020 21:15:23 GMT

— Perspectives as of June 2020 —

This article is inspired by the 2020 ABACC webinar, “Managing an Endowment in a Post-COVID World,” presented in cooperation with John Regan and Connor Carew from Permanens Capital Partners .

• • •

The post-COVID world looks much different than the world we knew at the beginning of 2020. We’ve seen both a historic sell-off and then a rally in capital markets. What are the long-term implications of this unprecedented event?

What Happened?

The market went down very quickly and then bounced back very quickly. We like to say the market is like a car with different dials and gauges. Even when you’re going 100 miles an hour, your check engine light might be on.

Challenging Market Environment

Higher Valuations & Negative Interest Rates

Green Line: 10-Year Treasury yield, now at historic low of 0.7% yield
White Line: Valuation (P/E) of S&P 500, approaching 20-year high

Source: Bloomberg

What does this mean? Equities are extremely expensive right now and real rates are negative. So, if you thought meeting your endowment draw was tough before COVID-19, it just got much harder.

The Bulls Versus Bears Market Perspective: Is the Equity Market Overvalued or Fairly Priced?

The bulls expect a V-shaped recovery and make the case that the equity market run is justified. The bulls have conceded the 2020 decline in earnings and believe there is going to be material recovery in 2021.

Multiple on 2021 Earnings

S&P 500 Pricing in Full Recovery by 2021

Consensus earnings of ~$170 at a 17x-18x multiple puts S&P 500 level in range
Real rates being negative justifies higher multiple

Source: Bloomberg

With 2021 earnings estimated to be around $172 a share and a reasonable premium of 17 to 18 times that, you get to roughly 3000 for the index, which is exactly where the market is trading today. Markets are looking at this year as a blip and are pricing a 2021 recovery.

Information Technology Holding Up Market

Market Benefitting from Concentration

In the past two recessions, market concentration has led declines. But in 2020, market concentration actually buoyed the rest of the market.

Source: Goldman Sachs

In 2001, tech led to the decline. In 2008, financials led to the decline. But in 2020, information tech has actually fared well, given it was a source of interest during the global shutdown.

S&P 500 Bear Market Rallies

Another argument the bulls are making has to do with bear market rallies. Take a look at two large economic collapse periods in U.S. history, 1929 and 2008.

Source: Goldman Sachs

Outside of July 1932, we have not had a bear market rally exceed 29%. We’re already up about 44%. This contends that we have exited bear market territory and we’ve actually entered into the next bull market.

The Bears Market Perspective: Is the Equity Market Overvalued or Fairly Priced?

The bears believe we are in a slower economic recovery and there are elements to this economy that will take quite some time to sort out.

Current U.S. Unemployment at All-Time Highs

The first argument the bears are making is that the market is disconnected from the economy. Unemployment is hitting historic highs. In a 10-week period through the end of May there were 40.7 million initial jobless claims filed, although it’s too early to decipher between temporary versus permanent job loss.

S&P 500 and Continuing Jobless Claims (Unemployment)

Market Pricing in a Quick Labor Recovery

White Line: S&P 500 continues to rise despite increased jobless claims
Green Line: Jobless claims increasing at an unprecedented rate

Source: Bloomberg

This graph illustrates something quite abnormal. Interestingly, jobless claims start to rise and the S&P 500 rises with it. This doesn’t make sense in the view of the bears.

Federal Debt = Market Steroids

107% Federal Debt/GDP Ratio is Highest Since WWII

The federal debt as a percentage of GDP is about to blow through the last high, which was in 1945, post-World War II. The double whammy is the federal debt is rising while GDP is declining.

Source: CBO, Goldman Sachs

Also, this doesn’t take into account the Federal Reserve’s balance sheet, which is at a record level following the economic stimulus package from earlier in 2020.

Gold Reached an 8-Year High

Volatility and Inflation Fears Driving Demand

Unprecedented stimulus from the Fed and U.S. government has ballooned the U.S. balance sheet, stoking inflation fear and driving demand for gold. Gold moving in tandem with the stock market is not normally the case.

S&P 500 Index Declines During Recessions

Median S&P 500 Decline is (22%)

S&P 500 has experienced an average (20%) decline during the past 11 recessions
Including 2020, the five most recent recessions declined (37%) on average

Source: Goldman Sachs

It’s important to remember over the last two notable recessions, 2001 and 2008, we experienced 50% and 57% declines in the stock market. From February 2019 to March 2020 we saw a decline of 34% from peak to trough.

Is this time different? What will be the economic impact of the world being shut down? Those are the question the bears are asking.

Summary: Bulls Versus Bears

To recap, the bulls are saying this year doesn’t matter and we’ll see a material recovery quite quickly. But the bears believe there is impairment to the economy, which will affect equities for a longer period of time.

Projected Endowment Performance (estimate as of 5/31/20)

We estimate that for fiscal 2020, most endowments are down around 1%.

There will be significant write-downs in private equity.
Hedge Fund allocations insulated portfolios, declining half that of global equities.
Long-duration treasuries and agencies outperformed, while credit suffered greatly.
U.S. equities outperformed rest of world equities.

Upcoming Investment Committee Conversations

These are some topics to bring back to your next IC meeting:

Asset Allocation & IPS

Asset allocation changes
Risk tolerance adjustment
Review draw policy & school finances

Performance

Asset class versus benchmark
Manager analysis
Liquidity issues

Communication

Reporting remain consistent
Advisor business continuity

Given this environment was so unprecedented, first you should evaluate your risk. Not every school has the same goals, wants, and needs. If you were left feeling uncomfortable with the volatility you had to stomach, it’s a good time to start that conversation.

Next, it’s a good time to review the underlying portfolio performance, by looking at manager returns, asset class returns, and the liquidity profile of your hedge funds.

Finally, if you haven’t done so already, check in on your asset management firm’s business continuity, to make sure that you feel comfortable with the operations of your current manager. How well are they communicating with you? Has reporting held up? How are they trading? How are they working with their third-party vendors?

Q&A: Greatest Concerns or Areas of Uncertainty

Will the U.S. market recover?

We’ve seen, if you go back to the beginning of the slide, the S&P 500 recover about 44%. The U.S. stock market is telling you that as well. Global stocks have seen a somewhat similar recovery, but they’ve lagged. The U.S. bond market has come ripping back, in terms of the credit move that we’ve seen in high-yield, investment-grade and leveraged loans. But the economics of the world are much different. Unemployment is at the heart. There is a percentage of our population that still has to skip a meal in order to save money. Starbucks is closing 400 stores. So, there’s risk of permanent impairment to the job market. Inflation is still historically low. You can’t get much of a yield on your bonds. Gold is flashing a warning sign. Oil is below $50 a barrel.

Are we entering a bull or bear market?

While many would argue we’ve entered a new bull market, there is a possibility this could be an outlier relative to other historical bear market rallies, and we could see another leg down. The word of advice we’ve been given our clients is having a little bit of cash and being cognizant of the high valuation in equities is not only appropriate, I would argue it’s prudent.

What if there’s a second wave of COVID-19?

We’ll see a negative reaction from the stock markets for sure, because the markets have learned that global policymakers haven’t been the most efficient or the best at communicating how to handle the first wave. The markets do not like uncertainty. I would like to think we will handle a second wave a little differently, in terms of what we shut down and why. Ultimately, I don’t think the world could take another three-month period without economic movement. Things could start to grind and maybe break. We saw flashes of that when people were not able to sell their treasuries. But the Fed stepped in and did a monumental thing which kept markets moving. A second wave would definitely be a cause for concern.

How can I best develop or modify our asset allocation to mitigate unprecedented market movement in the future?

A great way to think through this is understanding your long-term goals as an institution. If you have a long-term investment portfolio with a horizon of 10 years, these movements don’t feel great, but ultimately you should see your asset classes recover. If you’re a small or mid-size institution with assets earmarked for certain projects or initiatives, then you may want to consider allocating assets with capital preservation in mind—more high-grade fixed income—depending on what your plans are.

How will the pandemic impact long-term unemployment?

The natural thought is that if more people are at work, it’s less stimulating for the economy. Right now, the stock market is behaving as if everyone is going to get their job back. If we follow that trend, hopefully people feel a little bit more comfortable. But the real concern is, will companies start to realize that there are more ways to use technology to outsource jobs, which would be a bigger impairment on the economy.

What about investing endowments in China?

China is very unpredictable. The pandemic appears to have originated there and another trade war is about to ensue. We have chosen to be heavily underweight in China for our clients. Investing in China is quite difficult—there’s not a lot of transparency and you have to get the currency right. These are valid concerns to bring up with your investment manager.

How has this environment affected energy future valuations?

I’m not an energy analyst, but one headwind for oil is the ESG movement. There’s a lot of divestiture happening across the energy space, which will have a negative impact on that sector.

Has this environment made active equity managers more important or valuable?

Yes. The dispersion between stocks has grown and volatility has increased. When these factors are present, active management does outperform passive. Passive management has done quite well versus active management over the last 10 years of the bull market. But there is definitely an opportunity now for active to outperform passive, as we’re starting to see a greater disconnect between stocks and the index.

Your Work has Significance and Meaning

brian@aespire.com (Brian Sooy) — Mon, 03 Aug 2020 13:40:04 GMT

No matter what you are doing, your work has significance and meaning.

When Babylon took Israel into exile, God spoke through Jeremiah:

“This is what the Lord of Armies, the God of Israel, says to all those who were taken captive from Jerusalem to Babylon: Build houses, and live in them. Plant gardens, and eat what they produce. Get married, and have sons and daughters. Find wives for your sons, and let your daughters get married so that they can have sons and daughters. Grow in number there; don’t decrease. Work for the good of the city where I’ve taken you as captives, and pray to the Lord for that city. When it prospers, you will also prosper.” (Jeremiah 29 4-7 GOD'S WORD Translation)

Author Sean Ammirati says, “It's easy to overlook the significance of the work you are doing, especially when we don’t have a lens to fully appreciate its future impact.”

We are all part of God’s bigger plan to restore the world and to reconcile people to him.

Remember to pray and work for the good, peace, and prosperity of your city, region, state, and our country so God can keep his promise of prosperity to us.

We accomplish the good works which God planned for us when we work for the good of our cities and the people he loves.

The True Meaning of Freedom

brian@aespire.com (Brian Sooy) — Wed, 22 Jul 2020 12:42:29 GMT

When we celebrate freedom, we often think we’re set free to pursue our plans and dreams.

Then we read Romans 7:4:

“In the same way, brothers and sisters, you have died to the laws in Moses’ Teachings through Christ’s body. You belong to someone else, the one who was brought back to life

As a result, we can do what God wants .” ( GOD’S WORD Translation )

Freedom is not about doing what we want to do.

Freedom is not an unrestricted license to pursue our passions.

We’re set free from sin and death to do what God wants , to serve each other through love.

The Value of Peer Groups for Small Colleges & Universities

Tue, 02 Jun 2020 18:33:40 GMT

“I’m so glad to find out I’m not the only one struggling!”

“What a relief to discover I don’t need to recreate the wheel!”

These comments, and many more just like them, are a daily discovery for new members joining peer groups and membership associations—so readily available, but so often underutilized, in this country. Finance and business officers, especially of small institutions, often don’t realize they are dealing with the same issues that most, if not all, other colleges are dealing with. These issues include:

Students and parents can’t comprehend how the price they pay for tuition, room and board, won’t cover the actual costs of education.
The for-profit world often doesn’t understand or appreciate the challenges that higher education faces.
A communication barrier arises when it comes to addressing the bottom line with presidents and boards of trustees.

Among the benefits of belonging to a professional association and actively participating are eliminating isolation and trading secrets of success with colleagues who know the unique challenges of finance and administration at small colleges and universities. It is the sense of community gained from interacting with peers that helps small college members especially understand the role they play in the greater landscape of higher education.

Involvement in a professional association enables small college business officers to find the expertise they cannot afford to hire full-time. Small institutions can often be characterized by limited resources and very few staff to share the workload. Chief business officers often assume responsibility for multiple complex areas, such as risk management, or tax or facilities operations—in addition to accounting and finance—and can’t be an expert in every area they oversee.

Associations are continuously in contact with myriad experts they bring to members in the form of training. Through workshops, training brings opportunities for earning Continuing Professional Education (CPE) credits and opportunities for meeting the experts as well as colleagues who have faced similar challenges and have best practices to share. Workshops enable members to give back as well as receive assistance. In fact, many hallway conversations are just as important as the educational sessions themselves. Sometimes a single effort to make personal contact with a fellow CFO returns a resource for a lifetime.

Membership in a national association or citing its workshop, practice, or presenter often lends credibility to an individual when taking a suggestion to the board of trustees. Boards also realize the benefit of formalized relationships an association provides, like collective buying power, insurance plans or other affinity programs.

For all these reasons, belonging to a professional organization and actively participating brings many rewards. Some benefits to you and your institution are more direct than others, but all of them are important to help eliminate isolation and succeed in your role.

If you’re not yet a member of ABACC, learn more about the benefits today.

Optimize First Impressions of Your Campus & Grow Enrollment

Fri, 08 May 2020 16:37:54 GMT

This article is inspired by the 2020 ABACC webinar, “The Campus Welcome Experience: Optimizing First Impressions,” presented in cooperation with Credo Higher Education .

• • •

The look and feel of a college or university campus to first-time visitors matters greatly to CFOs who oversee the physical plant, and also has a profound impact on the success of enrollment efforts.

How do CFOs and chief enrollment officers work together to optimize first impressions and achieve success?

Two Critical “First Impressions”

Whether you’re struggling to adapt to social distancing requirements or that “fire” has been extinguished, the first impression of your campus starts in the virtual world. Does the arrival of prospective students and their families—what they see, feel, and experience—on your website reinforce the idea that they could get a good education there? While they’re on your website, do they begin to think, “Hey, I want to visit there!”

When prospective students and their family put down the laptop, get in the car, and drive to your campus, that’s when it’s time to shine in the physical and human sense. After all, this is going to be their home and first impressions matter greatly. Will they visit and say “Wow, this is amazing!” or will they be thinking “If it’s not clear where we should go and no one greets us, can they really figure out how to provide me with a good education?

Both impressions result from a critical enrollment and finance partnership, with enrollment staff handling the strategy and finance staff overseeing the look and feel—the buildings, grounds, fixtures, furnishings, and signage. Both staffs must work together to make these first impressions of your institution a welcoming experience.

Your Most Important Recruiting Strategy

You may be thinking, does the campus welcome experience really matter—especially at a time like this? The answer is a resounding “Yes!”

Admitted Student Research data compiled by Credo, a comprehensive higher education consulting firm, shows that the campus welcome experience is your most important recruitment strategy, in fact.

Your institution succeeds or fails to recruit students based on its academic reputation. When Credo asked students and parents, “What sources did you use to determine a college’s academic reputation during your search?” campus visits were rated as the number one source that formed those opinions.

So, what does that say about how you train your student tour guides and organize visits? Which classrooms do you show? How much should tours focus on dorm facilities?

Factors of Note

Do you encourage current students and alumni to engage with visitors as they explore the campus? Potential students and parents want to hear from these people. They’re already invested and can be trusted.
How do you make sure that people are not just seeing academic facilities, but also seeing the people that their students will encounter in those facilities? Have you talked to your faculty about how they interact with visitors? One of the top factors in choosing a school is the idea of mentoring: “Will the faculty actually be interested in my educational needs?”
Another point of interest the data revealed is campus safety, not only for parents but also for students. Who can best speak to this concern during campus visits?
Consistently—and surprisingly—the quality of residential facilities is often near or at the bottom of the list of factors. So, if you’re thinking the old residence halls have to be upgraded immediately to boost your numbers, think again. The data doesn’t support it.

The Importance of Arrival Branding

“Arrival Branding” is the term campus planners use when thinking about the impressions created for first-time campus visitors. A campus that has been thoughtful and is doing arrival branding well has curb appeal that reflects sound planning principles and good stewardship .

These impressions fall into three categories—virtual, physical, and human—and here are some simple steps you can take to optimize them .

Virtual Impressions

Reduce the number of clicks it takes to navigate to your “Visit Campus” section.
Clearly invite students to visit your campus. Don’t assume they know you want to meet them in person.
The “Visit Campus” section must make the case for why a visit is important before going into the mechanics of how to plan a visit. This would be a great place for a video clip of a parent talking about their enrolled student and the value of their first campus visit.
Fully explain terms that first-generation students and parents may not completely understand, such as “open house,” “individual visit,” or “private visit.”
Chart out the best way to see your campus, allow for time to meet with faculty or staff members, estimate how long this should take, and then use that as the description of a typical visit.
Outline the options for campus visits and describe what will happen during each type.
Implement timely and personal follow-up procedures with students and parents that schedule a visit, to reinforce the idea that their needs matter and they will get a good education here.
Put extra care and research into providing information about lodging options and local culture—don’t just link to the Chamber of Commerce. Come up with a preferred list and then make sure it’s featured prominently.
Make it clear whether or not meals will be provided if the student’s entire family comes to campus for their visit.

Physical Impressions

Help visitors know they’ve arrived and are expected. For individual visits, create a welcome sign with their name and where they’re from, and put it at their assigned parking spot. For open houses, use your large digital or customizable signage to welcome those groups.
Designate parking spots for admission guests and patrol it to be sure those spots aren’t being used by others.
Make it clear where guests should go upon arrival. Place bold wayfinding signage to their destination near the admission guest parking. If possible, assign a student tour guide to direct guests with a personal touch.
Consider locating your Welcome Center to the most accessible spot on campus, if it’s not already.
Tastefully brand your Welcome Center. It should not look and feel like a typical office or academic building.

Human Impressions

Identify your Welcome Center staff’s gifts and talents and place them in appropriate roles. For example, carefully consider who will staff your prime Welcome Center greeting spot. The person greeting guests ought to be someone who absolutely loves greeting guests and treats them like “This is the best part of my day!”
Ensure the admission counselor recruiting the student is available to participate in at least their initial welcome, if not their tour.
Give your tour guides leeway to exercise good judgment and personalize the visit to account for special interests and needs. The point of the tour is for guests to experience your campus while they walk around it—not to see every corner of every building.
Remember—your Admissions staff is just one small piece of the human impression. Communicate your expectations about making guests feel welcome to the rest of the campus.
Coach faculty, staff, and students to engage with visitors touring the campus—to say “Hello” and show what a warm and friendly place your school is. As stated earlier, these interactions form the most important impressions about your academic reputation and determine if guests choose to apply.

Grace Over Pressure

brian@aespire.com (Brian Sooy) — Thu, 07 May 2020 15:39:06 GMT

Are leaders born or made?

Leaders are refined and distilled over time. The distillation process involves heat and pressure, and the result is the essence of the opportunities, experiences, and time that went into it.

Heat and pressure are intended to break down and strengthen that which is weak.

When we turn to Jesus as a leadership example, we have to remember that the pressure of growing up under an oppressive regime strengthened him for his ministry years.

Jesus was “...a man of sorrows, familiar with suffering. He was despised like one from whom people turn their faces, and we didn’t consider him to be worth anything...” (Isaiah 53:3 GW).

Will you succumb to pressure, or rely on grace over weakness?

There will always be pressure on you. The weight of the past prepared you for the challenges you face today. Today’s challenges prepare you to manage what comes next.

In every circumstance, God reminds you, “My grace is all you need. My power works best in weakness.”

Lord, I know these tough times will pass. I’m doing the best I can to trust in you. Thank you for refining and strengthening me. Amen.

Lord, Sustain Us For the Long Haul

Mon, 20 Apr 2020 13:57:07 GMT

Psalm 13 expresses the frustration and hope we’re all feeling right now, and the question you’re thinking in your heart:

How long, O Lord? Will you forget me forever?

How long will you hide your face from me?

How long must I make decisions alone

with sorrow in my heart day after day?

How long will my enemy triumph over me?

1 & 2 Kings and the Psalms show us this: David turned to God for direction in everything.

Look at me! Answer me, O Lord my God!

Light up my eyes,

or else I will die

and my enemy will say, “I have overpowered him.”

My opponents will rejoice because I have been shaken.

“Light up my eyes…” When you turn your eyes to our Lord, does it revive you?

But I trust your mercy.

My heart finds joy in your salvation.

I will sing to the Lord because he has been good to me.

David was confident in one thing above all others: He trusted in God to deliver him.

Lord, sustain us for the long haul. We still don’t know what the future will be like, but you do. We trust in your mercy, find joy in your salvation, and praise you because you are good to us.

Why Does God Ask You to Depend on Him?

Mon, 17 Feb 2020 15:10:29 GMT

From the provision of manna to the Lord’s prayer, God’s reminder to his children is, “Depend on Me.”

“He was the one who fed you in the desert with manna, which your ancestors had never seen. He did this in order to humble you and test you. But he also did this so that things would go well for you in the end.” (Deuteronomy 8:16, GW)

Not only does God ask us to depend on him, he often surprises us with resources and paths we “had never seen.”

Why?

“So that things would go well for you in the end.”

Lord, as we rest this week and lift up thanksgiving and praise you for your unfailing love and unlimited provision, remind us you are a God of generosity and not scarcity.

God is Building Something Great Through You

Mon, 03 Feb 2020 14:42:10 GMT

Just how heavy is the weight of glory?

“The work of Beethoven and the work of a charwoman become spiritual on precisely the same condition, that of being offered to God. This does not, of course, mean that it is for anyone a mere toss-up whether he should sweep floors or compose symphonies. We are members of one body, but different members with his own vocation.”
— C.S. Lewis, The Weight of Glory

What is it that you do?

Do you think of yourself as a CFO, business officer, business manager, or administrator?

Or are you helping build something greater by serving well in your role?

If you think solely of your vocation, you possibly limit yourself and God’s work to transform you and other people through you.

“Do you have the gift of speaking? Then speak as though God himself were speaking through you. Do you have the gift of helping others? Do it with all the strength and energy that God supplies. Then everything you do will bring glory to God through Jesus Christ. All glory and power to him forever and ever! Amen.”
—1 Peter 4:11 New Living Translation (NLT)

What’s the Apostle Paul saying? Speak with authority. Serve powerfully.

Why? Because even the one who sweeps the floors brings glory to God.