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

California State University Sacramento Launches Black Honors College

Officially launching for the fall 2024 semester, the Black Honors College will support students from all backgrounds who study Black history, life, and culture by providing them with a specialized curriculum and mentoring opportunities.

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: Norman B. Anderson, 1955-2024

Dr. Anderson was the assistant vice president for research and academic affairs at Florida State University at the time of his death. He had an extensive career in clinical psychology, which led him to become the first African American chief executive officer of the American Psychological Association.

Georgia State University Launches Program to Support Black Women in Tech

While Black women account for roughly 29 percent of the Georgia State University undergradaute student body, they represent only 10 percent of the university's computer science majors and 18 percent of the computer information systems majors.

Featured Jobs