This morning’s article in the Reformer about Marlboro College was odd in a number of ways. First, they say they have a “structural deficit” of 3-4 million dollars a year. But they say that the endowment is sufficient to cover this loss. The endowment is only about $40 million. The 990 for 2015 showed a loss of $4,000,000 in total assets, indicating that this $4 million a year loss has been going on for awhile. It seems unlikely that the endowment can support what must be the third or fourth year of a $4 million dollar draw down. Quigley, meaninglessly, describes it as “a very strong endowment per capita” which essentially tries to spin the 50% drop in students as an improvement in the endowment when divided by the number of students.
Finally, Quigley’s closing comment,”My door is always open. I welcome all viewpoints with suggestions on how best to make this very special college survive and thrive” is simply depressing. This indicates that the president has no vision for this college, no plan for addressing these serious issues that he is so proudly “transparent” about, and is sitting in his office hoping somebody will walk in the open door and offer a suggestion…
