November 1, 2018
I want to provide an update on the Iowa Wesleyan University’s Board of Trustees special session today. It was a tremendously difficult meeting as we reviewed the financial projections of the university.
As you may know, small liberal arts colleges and universities across the country continue to face significant financial challenges. Iowa Wesleyan University is no different. We have struggled, yet survived, for decades because of our strong commitment to our students and the southeast Iowa region.
This may be surprising given all our progress and accomplishments achieved together over the past five years. Our enrollment has doubled, student retention has increased, and we have tremendously talented and dedicated faculty and staff members.
The university does not have a healthy endowment or extensive donor network. We have attempted to secure funding to establish a solid financial base. Unfortunately, several anticipated gifts simply have not materialized. At this moment, the university does not have the required financial underpinnings to bridge the gap between strong enrollment and new programming, and the money needed to keep the institution open.
Today, the Board of Trustees voted to reconvene on November 15, 2018 to consider the future of the institution. Therefore, we are actively and aggressively pursuing additional funding sources, and new and innovative partnerships, collaborations and supporters. The next 14 days are extremely important as we meet with the USDA, regional business and community leaders, and partners in higher education to explore alternatives.
These decisions may have a profound impact on students, faculty, staff members as well as the entire southeastern Iowa community. Iowa Wesleyan’s economic impact to the southeastern Iowa region is over $55 million annually. We feel a strong responsibility and commitment to continue the mission of Iowa Wesleyan University.
Thank you for your prayers and patience. We will keep you updated on the Board’s decision.
Steven E. Titus, J.D., Ph.D.