ÌìÃÀ´«Ã½¹ÙÍø

Dear ÌìÃÀ´«Ã½¹ÙÍø Community,

ÌìÃÀ´«Ã½¹ÙÍø has always been a community defined by resilience, imagination and a shared commitment to preparing students for lives of purpose and success. Yet today we must acknowledge that, across the country, higher education is confronting profound headwinds, including declining demographics of college-aged students, rising operating costs, shifting student expectations and increased competition. These national trends have placed extraordinary pressure on many institutions, ÌìÃÀ´«Ã½¹ÙÍø among them. Even so, it is clear to me that this dedicated community wants a ÌìÃÀ´«Ã½¹ÙÍø that is strong and vibrant for generations to come, carrying forward the vital mission you all make possible.

Picture a ÌìÃÀ´«Ã½¹ÙÍø many decades from now — offering new and relevant majors, expanding athletics and creating even more experiential learning opportunities deeply rooted in a community where every student feels a sense of belonging. That is what I want for ÌìÃÀ´«Ã½¹ÙÍø, and with your help, I believe we can achieve this reality together.

To reach this future, however, we must first confront and overcome very serious challenges that are both immediate and profound.

The truth is that ÌìÃÀ´«Ã½¹ÙÍø’s financial condition is more severe than expected, driven by a combination of factors including, but not limited to, market conditions, enrollment and retention challenges, reduced residential occupancy and several extraordinary unforeseen events. I believe you deserve candor, and I want to share the reality of our situation as openly as I can. Even in my short time at ÌìÃÀ´«Ã½¹ÙÍø, I have seen how deeply our students, faculty, staff, families and alumni care for this University and for one another. That commitment deserves honesty in return.

You also know that ÌìÃÀ´«Ã½¹ÙÍø’s financial struggles are not new. For years, the University has relied on extraordinary sacrifices from the people who make up this community. You have had to say goodbye to valued colleagues, experience the early retirement of senior faculty, face reduced compensation and hours, and adapt to closed programs and delayed investments in our facilities. Each of these steps has been painful, and together they underscore just how deeply these challenges have already touched our campus.

While ÌìÃÀ´«Ã½¹ÙÍø’s financial foundation has been weakening for many years, recent and significant unforeseen events have made the situation more urgent. As a result, ÌìÃÀ´«Ã½¹ÙÍø faces a severe cash deficit this year, one that, if left unaddressed, would jeopardize our ability to meet core financial obligations later this fiscal year and likely would imperil the University’s future. Unless we rebuild our foundation, and we have options to do so, the future we aspire to will remain out of reach.

The truth is difficult, but by confronting it directly we can move forward with purpose and strength. The Board and I are committed to taking decisive steps to put ÌìÃÀ´«Ã½¹ÙÍø on a course to a bright and sustainable future. Restructuring will be required, not as an end in itself, but as the essential first step toward renewal. With a sound financial base, we will be able to reinvest in our students’ experiences, strengthen and grow our academic programs, and enhance ÌìÃÀ´«Ã½¹ÙÍø’s reputation and enrollment for years to come.

This work will require the ideas, creativity and engagement of our entire community. In the coming days, Provost Bidle and I will begin hosting small-group conversations with faculty, staff and student leaders to listen, exchange perspectives and surface insights that will inform the recommendations we prepare for the Board. Since we cannot meet with everyone individually, I invite you to share your thoughts with us directly at univcomm@rider.edu. What should ÌìÃÀ´«Ã½¹ÙÍø be doing differently? What areas of greater efficiency or financial savings can be found in current practices? What opportunities should we be pursuing? How can we best position ÌìÃÀ´«Ã½¹ÙÍø for long-term strength and leadership in higher education? Your voices are essential as we chart this course.

With the benefit of this process, together with my senior leadership team, I will present the Board of Trustees with bold and significant options to address our financial realities. As this work goes forward, to the best of my ability I will continue to keep you informed.

We do not have easy choices, but they are necessary ones. ÌìÃÀ´«Ã½¹ÙÍø’s future can and must be strong, but that future is only possible if we act decisively now. We must move with both urgency and thoughtfulness. All options to address ÌìÃÀ´«Ã½¹ÙÍø’s financial realities and position the University for long-term strength must be on the table. The Board will fulfill its fiduciary responsibility in evaluating these options, and my team and I will provide them with the fullest possible information and perspective to guide their decisions.

At the same time, we are beginning a new enrollment cycle, one of the most critical factors in ÌìÃÀ´«Ã½¹ÙÍø’s future success. As a tuition-dependent institution, enrollment is our lifeblood. Only with a strong enrollment can we meet our financial challenges and begin building toward a stronger future. That is why I am asking every member of our community to make student success and enrollment a top priority. Whether through making ÌìÃÀ´«Ã½¹ÙÍø possible by encouraging students to attend, helping them complete their degree or sharing ÌìÃÀ´«Ã½¹ÙÍø’s story in your networks, your efforts can and will make a difference.

Confronting our challenges together with honesty, determination and focus, we can and will rebuild ÌìÃÀ´«Ã½¹ÙÍø’s foundation and secure the vibrant future we all want for this University. We can create the ÌìÃÀ´«Ã½¹ÙÍø of tomorrow: an institution that stands on solid ground, serves students with excellence and inspires pride for generations to come.

Thank you for your dedication to ÌìÃÀ´«Ã½¹ÙÍø and to the students we serve. I look forward to building this future with you.

Sincerely,

John R. Loyack, CPA, MBA
President