Bethune-Cookman University Looks to Bolster the Institution’s Financial Outlook

An investigative report by the Daytona Beach News-Journal revealed that historically Black Bethune-Cookman University had nearly a $18 million operating loss in the fiscal year that ran from July 1, 2015 to June 30, 2016. This was 12 times the operating loss that had occurred in the previous year. The information was obtained by the newspaper from IRS documents.

The report found that salaries at the school increased from $41.5 million to $49.2 million. Fifty employees were paid at least $100,000, according to the IRS documents. The previous year, only eight employees earned more than $100,000.

The documents also showed that the university’s investment portfolio had a 11 percent loss during this period. During the same period stock indexes were up 3 percent.

A report by Fitch Ratings service, which had more up-to-date financial information, said that the university had reined in expenses, increased enrollments, and improved retention. The report concluded that Bethune-Cookman University “expects to finish the fiscal year with break-even or better results.”

Related Articles

Leave a Reply

Get the JBHE Weekly Bulletin

Receive our weekly email newsletter delivered to your inbox

Latest News

Online Articles That May Be of Interest to JBHE Readers

Each week, JBHE will provide links to online articles that may be of interest to our readers. Here are this week’s selections.

Recent Books of Interest to African American Scholars

The Journal of Blacks in Higher Education regularly publishes a list of new books that may be of interest to our readers. The books included are on a wide variety of subjects and present many different points of view.

Higher Education Gifts or Grants of Interest to African Americans

Here is this week’s news of grants or gifts to historically Black colleges and universities or for programs of particular interest to African Americans in higher education.

In Memoriam: James Morris Lawson Jr., 1928-2024

Lawson enrolled at the Vanderbilt Divinity School in 1958. While he was a student, he helped organize sit-ins at lunch counters in downtown Nashville. In 1960, he was expelled from the university for his participation in civil rights protests.

Featured Jobs