ERIC Number: ED251142
Record Type: RIE
Publication Date: 1984-Oct-28
Reference Count: 0
Needed: More Revenue, Not Cost Cuts and Retrenchment.
Stumph, Wayne J.
Arguing that the financial crisis in higher education should be dealt with through fund-raising activities rather than retrenchment, this paper outlines a number of ways to increase college revenues. Introductory comments: suggest that revenue raising should be preventive, list resources focusing on new revenue sources, and identify attitudes which serve as roadblocks to fund raising. Section I examines the role of student charges in college finances, arguing that students have historically been undercharged for their education and citing financial problems that have resulted from a failure to measure and adjust student charges regularly. Section II provides suggestions concerning federal, state, and local government appropriations, identifying revenue sources, legislative areas to be aware of and monitored, and various kinds of activities that can be funded. In section III, ways in which the private sector can support colleges are identified, with focus on gifts from alumni, the role of foundations, and philanthropic sources. In addition, this section offers guidance on applying for grants. The final section, section IV, outlines the components of a business strategy, e.g., assess services for lease or self-operation; learn about and use cash management; rent college facilities; barter for goods and services; and market the college's schedule and capacity. (LAL)
Publication Type: Speeches/Meeting Papers; Opinion Papers
Education Level: N/A
Authoring Institution: N/A
Note: Paper presented at the Conference on Creative Management (Washington, DC, October 28, 1984).