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Ensuring financial health for the future of BW

On January 25, 2024, President Helmer and a cross-functional team from campus presented the University’s Financial Plan to the Board of Trustees. The Board approved the plan that will continue BW on a path toward a strong future. Please watch this video message to our community.

Message from President Bob Helmer

The Financial Plan

Like many universities across our country, both large and small, BW must always work to maintain a balanced budget. During the past two years we have operated with budget deficits, which we cannot continue to do. To address the operating deficit, we have looked at every area of the university over the past few months to ensure that we are operating as cost-effectively as possible. As a tuition-driven institution, it is imperative that we are operating efficiently so that every possible resource can be devoted directly to the student experience.

Based on a rigorous process of self-examination, input and feedback from faculty, staff and administrative leaders across campus, a cross-functional team prepared a financial plan that touches every area of the campus to present to our Board of Trustees. The plan was approved and will ensure that we are operating within a balanced budget. This plan will allow us to operate more efficiently while remaining focused on providing an extraordinary student experience. The plan includes expense reductions and revenue growth. The plan includes a hiring freeze and the completion of the early retirement incentive plan. This plan also includes faculty and staff reduction in some areas and a limited reduction in the number of academic programs. This plan would not be complete without investment in new academic programs, co-curricular activities, facilities, and service improvements that make BW a great choice for a college education.

Work in Progress:

  • We are implementing fiscal year 2024 and 2025 reductions with a focus on reducing expenses, overhead and administrative functions, including the reduction of positions.
  • We established a hiring freeze as of September 2023, which will continue through December 2024. Some essential positions will be replaced as needed.
  • We are reducing our workforce by 23 full and part time staff and non-tenured faculty positions.
  • We are reorganizing, streamlining, and implementing changes to the portfolio of core courses that will make the requirement for each student stronger and easier to navigate.
  • We are reorganizing or no longer admitting new students to 13 academic programs. Students currently enrolled in these programs will have the opportunity to continue in their major through their planned graduation date.
    • International Studies and National Security programs will merge to form a new major for the fall 2024 semester. Students currently enrolled in these programs will have the option to continue in their major or move to the newly formed major.
    • French major will no longer admit new students. Students currently enrolled in the French major will have the opportunity to continue in their major through their planned graduation date. Students can continue to minor in French and French classes will continue to be offered as electives.
    • German major and minor will no longer admit new students. Students currently enrolled in the German major and minor will have the opportunity to continue these programs through their planned graduation date. German language classes will continue to be offered as electives.
    • Religion and Philosophy programs will no longer admit new students and merge to form a new concentration in the School of Humanities. Students currently enrolled in these programs will have the opportunity to continue in their major through their planned graduation date. Students can continue to minor in Religion, minor in Philosophy, and classes will continue to be offered as electives.
    • Business Information Systems, Enterprise Risk Analytics, Organizational Leadership, Business of Healthcare major and the Healthcare Management minor programs in the Carmel Boyer School of Business will no longer admit new students. Students currently enrolled in these programs will have the opportunity to continue in their major through their planned graduation date.
    • Industrial and Organizational Psychology will no longer admit new students. There are no students enrolled in the program.
    • Education Leadership Graduate Program will no longer admit new students. The current cohort will complete their courses on schedule.
  • We are continuing the development of new in-demand academic programs, renovation of residence halls and student wellness services.
  • We will continue to provide need or merit-based aid for current and future students.
  • We are actively expanding student recruitment and donor fundraising to grow revenue.
  • We will continue to evolve and provide student support services to support the changing needs of our students and organizations.
  • We are committing to delivering a high-quality education and experience.

The Path of Growth

Baldwin Wallace University started implementing Strategic Pathways initiatives in 2023. The Financial Plan discussed above is separate from but, in many ways, aligns with our Strategic Pathways initiatives, which have begun to have an impact in important ways.

  • BW's freshman class was up 13% last fall, our largest, most diverse, and most accomplished student class in the University since 2015.
  • BW's total enrollment is up by 3% from last year to 3,327 students.
  • Fall-to-fall retention of first-year students incoming in 2022 was its second highest in the past 10 years.
  • Applications for the fall 2024 semester are up by 15%, year over year.
  • BW has received record research and grant funding, equaling more than $4.1 million in the last fiscal year.
  • BW has increased our national rankings in several categories and achieved #1 for Veteran Education in the Midwest.
  • Contributions to the Fund for BW have increased every year since 2019.
  • Yellow Jacket teams celebrated extraordinary achievements with 9 All-American student-athletes and 8 All-American scholar-athletes in the 2022-23 academic year.

Moving Forward

Many of the measures outlined in the Financial Plan will result in additional and necessary decisions by the administration and our program and division leaders across campus. To ensure our community is informed of changes, regular communication with relevant information and resources will be provided to campus. At the same time, senior leaders will continue to work with faculty, staff and shared governance partners to take the steps necessary to ensure the University remains strong in its core teaching and co-curricular mission. We held ourselves accountable to find a solution and although we will change some of what we do, we will continue to provide a meaningful experience that prepares many people for a life well lived.

Media Contact

Contact the Office of University Relations
Dan Karp, AVP and CMO
dkarp@bw.edu, (440) 826-2328