Rhodes College Strategic Plan APPROVED College Strategic Plan APPROVED.pdfA Strategic Plan for...
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APPROVED 1 Achieving Our Best: A Strategic Plan for Rhodes College 2020-2030 The Rhodes Vision Rhodes College aspires to graduate students with a life-long passion for learning, a compassion for others, and the ability to translate academic study and personal concern into effective leadership and action in their communities and the world. Our Best Day We are first and foremost a community that inspires profound transformation among our students to foster lives of exceptional purpose and success. For more than 150 years, we have offered a world-class learning environment that inspires greatness within every member of our community. From our rigorous academic program to our outstanding faculty to our timeless architecture, every aspect of our college is intentionally designed to create an excellence that challenges our students, faculty, staff, and community alike to dream bigger and achieve more. Unwavering in our confidence and our ideals, we offer an education that is elite, but never elitist. Driven by possibility, we imagine the brightest possible future, leveraging our passions in pursuit of a more perfect world. Inspired by the vibrant city and immense creativity surrounding us, we support transformation through boundless exploration. At Rhodes College, as students, faculty and staff, we put no limits on our capacity or willingness to learn, inside and outside the classroom. We treat every experience as an opportunity for growth, opening our eyes and our minds to new perspectives that allow us to see and understand the complexities of our world more fully. By asking bigger questions and challenging our own ideas, we embark on journeys that inspire continual growth and improvement. Filled with curiosity and wonder, we are free to pursue intellectual and ethical ideals that will guide and shape us for lives of transformative purpose and success. The Next Decade While we believe our best days lie ahead, the challenges related to the future demographics of our country and the economics of private higher education are real. Beginning in 2026, the nation will experience a significant population downturn, of approximately 12% to 15%, in the number of high school seniors as a result of a decrease in birthrates during the Great Recession that began in 2008. It is exciting to contemplate a student population that will be more diverse. These students will expect a curriculum and pedagogy that acknowledges that diversity, and competition among colleges to enroll them will become even more fierce. Across higher education, net tuition revenue (tuition revenue less institutional financial aid) has remained relatively flat since 2008, while gross tuition itself has risen approximately 50% over the last 10 years in the private liberal arts sector. At Rhodes, net tuition revenue per student for the entering class has declined by approximately 5% from its peak in Fall 2013. To continue to serve the students of the future, we will need to enhance our approach to financial aid and imagine a new approach to cost of education.
Transcript of Rhodes College Strategic Plan APPROVED College Strategic Plan APPROVED.pdfA Strategic Plan for...
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AchievingOurBest: AStrategicPlanforRhodesCollege2020-2030
TheRhodesVisionRhodesCollegeaspirestograduatestudentswithalife-longpassionforlearning,acompassionforothers,andtheabilitytotranslateacademicstudyandpersonalconcernintoeffectiveleadershipandactionintheircommunitiesandtheworld. OurBestDay Wearefirstandforemostacommunitythatinspiresprofoundtransformationamongourstudentstofosterlivesofexceptionalpurposeandsuccess.Formorethan150years,wehaveofferedaworld-classlearningenvironmentthatinspiresgreatnesswithineverymemberofourcommunity.Fromourrigorousacademicprogramtoouroutstandingfacultytoourtimelessarchitecture,everyaspectofourcollegeisintentionallydesignedtocreateanexcellencethatchallengesourstudents,faculty,staff,andcommunityaliketodreambiggerandachievemore.Unwaveringinourconfidenceandourideals,weofferaneducationthatiselite,butneverelitist.Drivenbypossibility,weimaginethebrightestpossiblefuture,leveragingourpassionsinpursuitofamoreperfectworld. Inspiredbythevibrantcityandimmensecreativitysurroundingus,wesupporttransformationthroughboundlessexploration.AtRhodesCollege,asstudents,facultyandstaff,weputnolimitsonourcapacityorwillingnesstolearn,insideandoutsidetheclassroom.Wetreateveryexperienceasanopportunityforgrowth,openingoureyesandourmindstonewperspectivesthatallowustoseeandunderstandthecomplexitiesofourworldmorefully.Byaskingbiggerquestionsandchallengingourownideas,weembarkonjourneysthatinspirecontinualgrowthandimprovement.Filledwithcuriosityandwonder,wearefreetopursueintellectualandethicalidealsthatwillguideandshapeusforlivesoftransformativepurposeandsuccess. TheNextDecadeWhilewebelieveourbestdayslieahead,thechallengesrelatedtothefuturedemographicsofourcountryandtheeconomicsofprivatehighereducationarereal.Beginningin2026,thenationwillexperienceasignificantpopulationdownturn,ofapproximately12%to15%,inthenumberofhighschoolseniorsasaresultofadecreaseinbirthratesduringtheGreatRecessionthatbeganin2008.Itisexcitingtocontemplateastudentpopulationthatwillbemorediverse.Thesestudentswillexpectacurriculumandpedagogythatacknowledgesthatdiversity,andcompetitionamongcollegestoenrollthemwillbecomeevenmorefierce.Acrosshighereducation,nettuitionrevenue(tuitionrevenuelessinstitutionalfinancialaid)hasremainedrelativelyflatsince2008,whilegrosstuitionitselfhasrisenapproximately50%overthelast10yearsintheprivateliberalartssector.AtRhodes,nettuitionrevenueperstudentfortheenteringclasshasdeclinedbyapproximately5%fromitspeakinFall2013.Tocontinuetoservethestudentsofthefuture,wewillneedtoenhanceourapproachtofinancialaidandimagineanewapproachtocostofeducation.
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BroadereconomicandculturalconcernsalsoimpactthefutureofRhodes.CommonplaceskepticismabouttheliberalartsandsciencesasthebestapproachtohighereducationmisleadsthepublicaboutthevalueofRhodesandoursisterinstitutions.Themarketforhighereducationhasbecomenoisierandmorecompetitive.Rhodesmustworkeverhardertotellitsstoryinacompellingandvisiblemanner. OurCompetitiveAdvantagesRhodesiswellpositionedtofacethesechallenges.Perhapsourmostimportantadvantageisthestrengthofouracademicprogram.Ourcurriculumisshapedbyafacultycommittedtoundergraduateteachingexcellenceintheartsandsciences,originalresearch,innovation,andcreativityacrossthedisciplines.Thiscombinationofintensiveworkwithfacultyoncampusandengagementoffcampusinourcity,nation,andworldisanextraordinaryopportunityforstudents.Ouralumniconsistentlyreportlong-termbenefits,life-longemployability,andcareeradvancementasaresultoftheirRhodeseducation.Collaboratingwithfacultyoncutting-edgeprojectsandemergingquestionsgivesRhodesstudentsanadvantageinapplyingtograduateandprofessionalprograms.Itpreparesstudentsforarapidlychangingworld.Thoughtfulengagementwiththeworldpreparesstudentstoadapttonewsituationsandtoofferinsightwhenconfrontingunexpectedproblems.Weaimtobemoredeliberateaswehighlightthepathsthatleadfromtheclassroomandthelaboratorytociviclifeandtheglobalmarket.Weareoneofveryfewnational,residentialliberalartscollegestobefoundinamajorcity.MemphisisadistinctiveAmericancitythatprovidesthecollegewithunparalleledopportunitiesforourstudentsandfacultytolive,learn,andlead.Memphishasafascinatinghistorywithimpactfarbeyondourregion,aswellasongoingimpactsonscientificandtechnologicaladvancementandthedevelopmentofaglobaleconomy.MidtownanddowntownMemphisareinaperiodofgrowth,makingourlocationmoreattractivetomoretalentedanddiversestudentsofthefuture.Ourcampusisknownforitsbeautyandarchitecture.Further,ourcommunity,students,faculty,staff,alumniandparentsareincrediblysupportiveofourwork.Financially,Rhodeshasmorethan45yearsofbalancedbudgets,moderateinstitutionaldebtwithanA+ratingfromthebondratingagencies,andarecordofsuccessfulfundraisingcampaigns.Wewillutilizenew,research-basedmethodsandapproachestotellacompellingstory.Whileourbusinessfundamentalsarestrong,ourprogrammaticofferingsareattheheartofourcompetitiveadvantagesamongliberalartscolleges.Rootedinthecollege’svaluesreflectedinourseal—Truth,LoyaltyandService—studentsgaininvaluableexperiencesenablingthemtocultivatetheirtalents,andtoenrichtheireducationthroughthecitywecallhome.Ouracademicreputation,competitiveNCAADIIIathleticprogram,outstandinggraduateandprofessionalschoolacceptancerates,emergingdiversityamongstudents,award-winningMockTrialteam,andmanyotherprogramsattractexcellentstudentsfromacrossthecountry.Ournationalreputationformeaningfulserviceopportunitiesandcommunity-basedlearningshapesthewaysourgraduatescontributetotheworld.Theintersectionofaliberalartseducationwithservicetoothersisapowerfulcombination,andwearepoisedtobeanationalmodelforattractingstudentsworldwidewhoseekatransformativeandholisticeducation.OurGoalandStrategyWewillalignourbusinessmodelwithourmissionsothatwecanpursuenationalexcellenceinresidentialliberalartseducationwhileremainingacollegeofapproximately2000students.Indoingso,wewillcommittotheRhodesEdge,aneducationalandresidentialexperiencethatensuresourgraduatesare
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• Intellectuallyreadytotackletheworld’smostpressingproblems.
• Leadershipreadytocreateequitableandprosperouscommunities.
• Careerandgraduateschoolreadytosucceedintomorrow’seconomy.
ByhoningtheRhodesEdge,wewilladdvaluetotheundergraduateexperiencesothattalentedstudents,faculty,staffandouralumniareincreasinglywillingtoinvestinRhodes.Further,wewillmaximizeourotherrevenuestreamsthroughendowmentgrowthandthedevelopmentofnewrevenuegeneratingprogramsinordertoreducetuitionpressureonourstudents.Fourfocusareaswillguideourdecision-makingandinvestmentsoverthenextdecade.FocusArea#1:BuildAcademicandCreativeExcellenceWewillinvestin:
• ExcellenceintheLiberalArts:OutstandingteachingisahallmarkofRhodesCollegeandthefoundationofouracademicexcellence.Wewillsupportinitiativestoattractandretainanexcellentanddiversefaculty,facultyeffortstodevelopasteachersandscholars,andrevisionsofourcurriculumtomeetstudentneeds.Wewillidentifynewresourcestosupportfacultyinitiatives,includingfacultycollaborationandourhallmarkcurricularengagementwiththecityofMemphisandourregion.
• AGloballyEngagedCurriculum:Wewillsupportfacultyandadministrativeeffortstodevelopagloballyengagedstrategythatstrengthensprogramsofstudy,conductsresearch,anddevelopsinternshipopportunities,linkingourcurrentstrengthinlocalcommunityengagementtothebroadernationalandinternationalenvironment.Wewillcontinuetoprovidescholarshipsforinternationalstudyandinternshipsandwillcontinuetoremovebarriersforstudentswhorelyonfinancialaid.Forourstudents,wewillprovideacurriculumthatnotonlyeducatesandexpandsstudentminds,butalsoequipsthemwiththeskillstochangetheworld.
• InterdisciplinaryCenters:Wewillworkwithfacultytodevelopinnovativeinterdisciplinary
centersfocusedonthestudyofcomplexcontemporaryissues.ModeledonourLynneandHenryTurleyMemphisCenter,thesehubswillprovidevibrantandadaptablephysicalspacesforfaculty,students,staff,alumni,andcommunitypartnerstocollaborateandlearn.Weexpectthesecenterstobeself-supportingandwillseekendowment,partnerships,andrevenueopportunitiestolaunchanddevelopthesecenters.
• TheFineandPerformingArts:Centraltoourstrategyistheenhancementofthefineand
performingartsatRhodesCollege.ThecreativeenergyfoundinMemphis,ourinterestinattractingabroaderrangeofstudentstoRhodes,andourdesiretostrengthenourcurriculumofferanopportunitytocreateanewandexcitingareaofexcellenceforRhodes.TheunfortunateclosureoftheMemphisCollegeofArtsuggeststhatwehavearenewedresponsibilityandopportunitytoemergeasaMemphisleaderinthisarena.Avibrantcampusartscultureandenergeticcommunitypartnershipswithartsorganizationswillenhance
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recruitmentandlearningforallstudentsandhasthepotentialtotransformthecampusandthecity.
• TheSciencesandBusiness:Ourreputationforexcellenceinpre-medicaleducationisastrategic
advantageanddrivesapproximately40%ofourapplicationpooleachyear.Tomaintainthisstrength,wewillcompletetherenovationofoursciencelabs,expandstudentopportunitiesforresearchandclinicalexperiences, andsupportinterdisciplinarycollaboration. Businessandrelatedacademicareasaccountforthelargestportionofourgraduatingseniors.Theseareasprovideastrategiccurricularadvantagecomparedtootherliberalartscolleges,especiallygivenourlocationandsetting.Providingnewresourcesandfacilitiestoattractgrowinginteresthelpsensureagrowingandvibrantapplicantpoolandallowsmultipleinterdisciplinaryopportunities.
FocusArea#2:FosteraCultureofBelongingtoSupportLeadershipReadinessWewillinvestin:
• AnInclusiveandPrincipledCampusCommunity:AcommunitythatattractsandincludestalentedstudentsandfacultyfromallbackgroundsandperspectivesallowsRhodestoaccomplishitsmissiontosetstudentsonapathoflife-longlearning,toinstillacompassionforothers,tobecomeeffectiveleadersintheircommunitiesandtheworld.Ourgoalistofosterasenseofbelongingsothatstudentshaveastablefoundationfromwhichtobechallengedandtolearnandtolead.Asourstudentbodybecomesmorediverse,wewillbuildafacultyandstaffreflectiveofthatdiversity.Wewillprovideenhancedmentoringandprofessionaldevelopmenttoensurethatfacultyandstaffareequippedwithboththeskillsandtheknowledgetosupporttheneedsofachangingstudentbody.
• ServicetoMemphis:Rhodeshasbeenrecognizedasoneofthemost“serviceminded”colleges
inthecountry.ThroughourBonnerCenterforServiceandourstudent-directedKinneyProgram,aswellasfaculty-directedresearchandcommunity-engagedlearningcourses,wewillbecomemorestrategicaboutourpotentialforpositiveimpactonourcity.Wewillcollaboratewithpartnersandstakeholderstoidentifyareasoffocus.Wewilldevelopsystemsfortrackingandassessingimpactandresults.OurLynneandHenryTurleyMemphisCenterwillstepforwardasanationalmodelforcivicengagement.
• ACultureofInstitutionalCommitment:Fromthemomentstudentssteponcampuswewill
buildacultureofdeepcommitmenttoRhodes.Wewilldevelopopportunitiesandprogramstobuildmoreschoolspirittofosterthiscommunity.Wewillcelebrateourstudents,facultyandstaffsuccesses.Wewillteachgratitudeandhowprospectivestudentengagementandphilanthropicsupportfromotherspositivelyimpactsourcommunityandiscrucialtoourfuture.
• ACommunityofHonor,Understanding,andRespect:OurHonorCodeiscentraltotheRhodes
experience,creatingadistinctivesenseofbothcommunityandindividualresponsibility.Ourface-to-face,relationship-drivenmodelofeducationandourcommitmenttobearesidentialcampusmeansthatlivingandlearningwithothersisanessentialpartoftheRhodesexperience.Astheexternalclimatebecomesmorepolarizedanddivisive,werecognizetheuniqueopportunitywehavetoteachtheskillsneededfordemocraticcitizenship,communitybuilding,andproductiveengagementwithothers.Throughnewopportunitiestodevelopleadership
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skills,wewillexpandopportunitiesforstudentstoengageinmeaningfuldialogueaboutdifficulttopics.Wewillprovidemoreexplicittrainingintheskillsneededtolivewith,andlearnfrom,othersacrosspolitical,religious,economic,andculturalspectrums.Wewillsupportacampusculturethatfostersresilience,health,gratitude,andrespectforothers,evenasitchallengesstudentstoconsidernewperspectivesandideas.
• Athletics,FitnessandWellness:Rhodesstudent-athleteshavetraditionallyenjoyedagreatdeal
ofsuccessontheplayingfieldsandcourtsthathascomplementedtheirsuccessesintheclassroomsandlaboratories.Thevarsityathleticexperienceattractsapproximately30%to35%ofeachincomingclass.However,developingastrongintramuralsportsandfitnessprogramisneededforallstudentstogainimportantleadershipandcollaborativeskills.InordertoattractthestudentsofthefutureandenhancethevalueoftheRhodesstudentlifeexperience,wewillinvestadditionalresourcesinfacilities,staffandprogramstoensurethatthecollegeisregionallyandnationallycompetitiveintheNCAADivisionIIIcontextandensurethatourfitnessandrecreationalfacilitiesandprogramsareattractiveandcompetitivebynationalstandards.
FocusArea#3:EnsureaTransformationalStudentExperiencetoSupportGraduateandCareerReadinessWewillinvestin:
• TheResidentialExperience:Wewilldevelopacomprehensivefour-yearresidentialplan,whichincludesathree-yearresidencyrequirement,thatsupportsretention,learning,andpersonalgrowth.Thiswillrequireasignificantrenewalofourresidentialexperience,includingbuildingadditionalattractiveresidentialcapacity,renovationofexistingresidentialspace,developmentofadditionalstudentcommunityspace,strengthenedstaffing,anexpandedresidencyexpectation,andon-campusprogramming.
• StudentFinancialAssistance:Toattractthetalentedstudentsoftomorrow,Rhodeswillhavetoprovideextensivemeritscholarshipandneedbasedfinancialaid.Theeducationweprovideisexpensiveandrestsonthespecialrelationshipbetweenstudentsandfacultyandhighimpactexperienceslikestudyabroadandinternships.Ourabilitytoenrollthestudentbodydependsheavilyonaneverincreasingproportionofinstitutionalgrantsandourfamilies’willingnesstotakestudentorparentloans.Institutionalgrants,whichcomefromendowmentproceedsandasignificantproportionofcurrentoperations,havemorethandoubledinthelasttenyears.Wewillneedtransformationalfinancialendowmentsupportforscholarshipandneedbasedaidaswemoveintothefuture.
• First-YearEngagement:Wewillredesignourfirst-yearexperiencetoemphasizebelongingand
communitybuilding.Wewillencouragecollaborationbetweenfacultyandstudentlifestafftoenhanceadvising,co-curricularprograms,andentrywaytothemajor.Wewillinvestinbuildingbetter-definedpathwaysforstudentsintotheirmajors,supportforfacultyandstaffwhoworkwithfirst-yearstudents,andprogrammingthatencouragesstudentstoexplorecareerpaths.
• PassionateConnectiontoaFieldofStudy:Wewillsupporteffortsbyacademicdepartmentsandinterdisciplinaryprogramstobuildacultureofbelongingandinclusionamongtheirmajorsandminors.Studentswhohavedeepconnectionswithpeersandfacultyintheirmajortendtopersistatthecollegeandcompletetheirdegreesinfouryears.Providingeventsandspaces
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wherestudentscanworkcloselywitheachotheranddevelopadeepconnectiontoafieldofstudyisimportanttotheirsenseofbelongingwhileatRhodesandthroughouttheircareers.
• CareerReadySkill-Building:AnenhancedCareerServicesstaffwillprovideexperientialand
practicalskillstopreparestudentsforpost-graduatecareerreadinessintodayandtomorrow’sprofessionalworkenvironment.Wewilldevelopastructuredfour-yearcareerexplorationprocesstoassiststudentsinbuildingapathbeyondRhodesandexpandopportunitiesforinternshipsandothercareerreadinessexperiences.
FocusArea#4:SecureOurFutureTheRhodesEdgewillbeachievedonastablefinancialfoundation.Rhodesdependsontuition,giftstotheAnnualFund,drawfromourendowment,andmajorgiftsandgrantstoprovidescholarships,fellowships,studyabroad,facultysupport,andcapitalfornewbuildingsandotherprojects.Toaccomplishourgoals,eachoftheserevenuestreamsmustexpand.Wearecommittedtoremaininganintimatecampusofapproximately2,000undergraduatestudents.Thecollege’sfinancialhealthwilldependonincreasingtheperceivedvalueoftheRhodesexperienceamongprospectivefamiliesandawillingnessamongtheRhodescommunitytofinanciallysupportthecollegetoafarlargerextent.IncreasingphilanthropicsupportofRhodesisvitaltoourfuturesuccess.Newprogramsforpost-baccalaureatelearnerswillbecomearevenueopportunityforRhodes.Additionally,wemustprepareforanuncertainfutureinwhichpolitical,economic,andtechnologicalchangecouldradicallydisruptthewayRhodesanditssisterinstitutionsfunction.Wewillinvestin:
• DevelopingNewRevenueStreams:Wewilladoptanentrepreneurialmindsettowardthedevelopmentofnewrevenue-generatingprograms.Alreadywehavedevelopedamaster’sdegreeinUrbanEducationandapost-baccalaureatecertificateforaspiringmedicalprofessionalsHealthEquitythatcanserveastemplatesforotherconcepts.Bothprogramsbuildonourinstitutionalvalues,uniqueapproachtotheliberalarts,ourlocationinMemphis,andaffordRhodestheopportunitytobecomethenationalleaderintheserespectiveareas.Wewillalsopayspecialattentiontoothermodels,muchlikeoursuccessfulSummerWritingInstitute,thatfocusonhighschoolagestudentstocomplementourundergraduatestudentrecruitmentefforts.
• BuildingandSustaininganOutstandingWorkforce:Ourfacultyandstaffareatthecoreofhow
wecarryoutthemissionofthecollegeonadailybasis.Tobettersupportourexistingstaff,wewillsupportfacultyandstaffdevelopmentandwillaimtobringsalariesinlinewithappropriatebenchmarkswhereneeded.WewillalsoidentifystrategicstaffingopportunitiesthatallowthecollegetobetterservestudentsasweimplementtheRhodesEdge.
• TellingOurStory:WewillincreasedemandforaRhodeseducationandinvitenewphilanthropicinvestmentthroughenhancedmarketingandcommunications.ThelifebloodofRhodesisthenewgenerationoftalented,diversestudentswhochoosetojointhiscommunityeachfall.Thecompetitionforthesestudentsintensifieseachyearascollegecostsgrow,realfamilyincomeremainsstagnant,collegesbecomemoreaggressiveinrecruitment,andnetstudentrevenuescontinuetobeflattodeclining.Inthisenvironment,tellingourstorymoreclearlyandtellingitbetterthanourcompetitorsbecomesanecessity.
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• PlanningtheCampus’Future:Anewcampusmasterplanwillenvisionacampusand
surroundingneighborhoodwherethestudentsoftomorrowwilllearnandlive.Theplanwillbuildonourarchitecturaldistinctiveness,ourresidentialnature,andouracademicprogramaswellasprinciplesofenvironmentalsustainability.Wewilladdresskeyfacilityenhancementsasidentifiedincampusspacestudiesregardingacademic,athletic,andstudentlifeneeds.Theseincludeenhancedenvironmentsforthearts,psychology,business,sciencelabs,careerservices,athletics,multiculturalandinterfaithspace,andthedevelopmentofadditionalspaceforstudentinteraction.WewillimprovethephysicalconnectionbetweenWestCampusandthetraditionalcampus.Masterplanningwillguideustoimagineamorewelcoming,“Memphis-facing”campus.
• CultivatingCommunityPartnerships:OurlocationintheheartofMemphisoffersbothstrategicadvantagesandspecialresponsibilities.Ourvibrantsettingprovidesnewopportunitiestoexpandourmissioncooperativelywithinterestednon-profits,businesses,andlocalgovernments.Wewillcollaboratewithourneighborstoenhancetheareassurroundingcampusandseekopportunitiesforengagement.
• EnhancingEfficiency:WehavecommittedtoimplementingWorkday,a21st-centuryadministrativecomputingplatform.Workdayprovidesanopportunitytorefineourbusinessprocesses,improveefficienciesandeffectivenessforallstudentsandfaculty,enhancetheworkofstaff,improvethestudent-facultyadvisingpractices,andfacilitatebettercommunicationacrossthecommunity.Suchacommitmentwillallowthecollegetofurtherdevelopeffortsinsophisticateddataanalytics,communications,andsupportservices.
• PreparingforUncertainty:TherewillbeacommitteeoftheBoard,chairedbythePresidentorherdesigneetoidentifyandinvestigatethe“bigunansweredquestions”facingthecollege.Wemustkeepoureyeonbroadertrendsthatcouldupendthatmarketandrequirethecollegetochangeinmoreradicalwaysandtakebiggerrisks.
ConclusionCharlesDiehl,presidentfrom1917to1949,said“realizingthatthegoodisevertheenemyofthebest,wedidnotseekmerelythegood,butthebest.Therewaseverbeforeustheideaofexcellence.Itwasourpurposetolaunchhereaninstitutionwhichwouldendureforcenturies,andwhichwouldcommandtherespectandquickentheprideofsucceedinggenerations.”Weengageinstrategicplanningtoensurethatourbestdaysareahead,andthattheRhodescommunityiscalledtoitsbest,everyday.MeetingourambitiousgoalswillrequireexpandingourcommunityofsupportersandfullyengagingthosewhoarecommittedtoRhodesCollege.Aswesetpriorities,wewilllookfirsttofocusandaligncurrentoperatingbudgets.Manyofourgoalscanbeachievedthroughacollege-wideefforttooperationalizeourstrategicgoalswithintheprogramsandprojectswealreadyfund.Weexpectthatovertime,theserealignmentswillmakeRhodesanevermoreattractivechoicefortalentedstudents.Wewillalsoprioritizeinitiativesthataimtogeneratenewnetrevenue.Manyofthesewillrequireinitialinvestments.Wewillmanagetheseriskswithcare,makingsurethatourinitialinvestmentsare
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thoughtful,thatwemonitorresults,andthatwearepreparedtoadjustorevenwithdrawinresponsetochangingmarketconditions.Asnewresourcesemerge—fromgrowingrecognitionofRhodes’valueamongprospectivestudentsandfamilies,fromnewrevenuegeneratinginitiatives,andfromfund-raising—wewillbeabletofundadditionalaspectsofourplan.Ourplanprovidesuswithamaptowardabrightfuture.Wewillmakeuseofthismapaswemakedecisionsoverthenextdecade.Butwewillalsoremainattentivetoemergingopportunitiesandrisksnotforeseenbythisplanandwillbepreparedtomakeflexibleadjustmentsaswarrantedbyexternalconditions.Ourbestdaysareahead.
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APPENDIXI OurCoreCommitments Wedonotfacetheseheadwinds,askthesequestions,orrecognizeourcompetitiveadvantagesinavacuum.RhodesandRhodesgraduateshavealongrecordofsuccessthatplacesthecollegeinthetopranksofAmericanhighereducation.Thisistruebecauseoftimelessvaluesthatwehavelongbelievedplaceourstudentsonthebestpossiblepathtorichlivesoftruth,loyalty,andservice.Forthesereasons,Rhodeswillcontinuetobe:
• CommittedtotheRhodesVision.RhodesCollegeaspirestograduatestudentswithalife-longpassionforlearning,acompassionforothers,andtheabilitytotranslateacademicstudyandpersonalconcernintoeffectiveleadershipandactionintheircommunitiesandtheworld.
• DecidedlyResidential.Oureducationmustremaingroundedinface-to-facerelationships.
Personalconnectionsmadebetweenastudentandherprofessor,withinastudentclub,inavitalandvibrantclassdiscussion,oroverasharedmealareanantidotetotheintenselymediatedinteractionswehaveonline.Itisinthesemoments—oncampusandinthecityofMemphis—whereweexamineourcorevalues,learntointeractwiththosewithwhomwedisagree,andvaluediversityofthoughtandexperience.Itisthroughlivingandlearningtogetherthatwehonethehumanitythatundergirdsvirtuouscitizenship.
• CommittedtotheHumanities,theArts,theSciences,andtheSocialSciencesastheBestFormof
UndergraduateEducation.Weofferaliberaleducationfitforfutureworld-changers.Ifwewantourgraduatestolead,wehavetoequipthemwiththeabilitytoembracechangeinallitscomplexityandambiguity.Theywillneedaholisticeducationthatfocusesonproblem-solvingandmultidisciplinaryapproaches.Andtheseworld-changersaregoingtoneedtounderstandboththeemergenttechnologiesthemselvesandthewaysthosetechnologiescanbeharnessedforthecommongood.Further,aRhodeseducationmustsupportthespirit.Widespreadchangehasalwaysexposedhumanbeingstothetemptationsofnihilism.Ifourstudentsaretobeequippedtoleadustowardabetterfuture,wehavetonurturetheirhopeandtheirresilience.
• CommittedtoAttracting,Supporting,andRetainingTalentedandDiverseStudentsandFaculty.
ARhodeseducationmustremainrelevantandaccessibletothetalentedstudentsoftomorrow.Shiftsinnationalandinternationaldemographicsmeanthattheupcomingnewstudentmajority willbeevenmorediverse.Ourfuturestudentsandfacultywillcontinuetocomefromalloverthecountry,andindeedallovertheworld.Wewillbuildontheirstrengths.Forourstudents,wewillworktirelesslytobuildneed-basedfinancialaidtoensureaRhodeseducationisaffordableforthetalentedstudentsofthiscominggeneration. Forourfacultyandstaff,wewillofferaclimatethatsupportscreativityandprofessionalgrowth.
• CommittedtoSustainableInstitutionalFinancialHealth.Withoutasustainablebusinessmodel,
wecannotliveoutourmission.Wecurrentlyrelyonstudentchargestofundapproximately75%ofourannualbudget.Philanthropy—intheformofdirectannualandcapitaldonationsanddrawsfromourendowment—suppliestherest.AdditionalphilanthropicsupportprovidesaccesstoaRhodeseducationfortalentedstudents;supportfornewlearningandresearchopportunitiesforstudents,faculty,andstaff;fundsforspecialcampusprojects;andcapitalfornewbuildingsandathleticfacilities.WewillcontinueeffortstokeepRhodesaffordableand
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vibrantbyidentifyingadditionalrevenuestreams,carefullystewardingresourcesbyadheringtoourlong-standingtraditionoffiscaldiscipline,andexpandingourdevelopmentefforts.
• CommittedtoMemphisasOurOpportunityandOurResponsibility:Ourlocationinacityis
distinctiveamongliberalartscolleges,andourrelationshipwithMemphisistransformativeforus.WhileMemphisprovidesourstudentsandfacultywithextraordinaryopportunityforlearning,personalgrowth,servicetoothers,andcommunityleadership,Memphisalsocallsustoadeepsenseofcommunityresponsibility.Weseektostrengthenourcommitmenttothosecommunitypartnerswhocomplementourmissionandofferings,promotethewell-beingofall,andaspiretobuildastrongercity.
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APPENDIXII–CHALLENGESInthecomingyears,highereducationingeneralcanexpectsignificantchallengestoitsfinancial,educational,andenrollmentmodels.Manyexpertsbelievethefinancialmodelis“broken.”Indeed,therisingcostoftuition,roomandboardhasoutpacedfamilyincomesformanyyears.Institiutionalaidhaskeptupatthecostofflattofallingnettuitionrevenueperstudent.Asaresult,competitionforstudentshasincreaseddramaticallyashastuitiondiscounting.
Rhodesnettuitonrevenueper1styearstudenthasbeenrelativelyflatforalmosttenyears.Thisexperienceisconsistentwiththevastmajorityofotherprivatecollegesanduniversities.Ineffect,themarketplaceofstudentsandfamilieshasreacheditsmaximumwillingnesstopayforthehighereducationexperience.Additionalnetrevenuewilllikelycomethroughstudentbodygrowthorenhancingtheperceivedvalueoftheinstitutionaloffering.OverthisperiodRhodes’studentbodyhasbecomelargergrowingfromapproximately1600to2000withastableacademicprofile,amuchbroadergeographicreach,andgrowthstudentdiversity.However,itisgenerallyacceptedoncampusthatRhodeshaslargelyreachedundergraduateenrollmentcapacitywithoutnewfacilitiesandprogramstoattracttalentedanddiversestudents.
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Demographersreportthatnotonlywillthenumberofhighschoolseniorswillfallmuchmoredramaticallystartingin2026,butthatthecompositionofhighschoolseniorswhenviewedbyraceandfamilyincomewillchangedramaticallyaswell.Already,however,weareexperiencingadeclineinthenumberofstudentsattendingprivateschools.Thesefamilies,whomakeupapproximately50%oftheRhodesstudentbody,haveexperiencewiththeopportunitiesprivateeducationprovidesbutalsohavedevelopedahabitofpayingforeducation.
U.S. High School Graduates
0
-252-300
-200
-100
0
100
300
400
2012-13 2018-19 2024-25 2030-31
Compared to SY 2012-13(Thousands)
=640 Hispanic=184 Asian/Pac. Isl.=32 Am. Ind./Alaska Native=474 Black=298 Private Schools=1,839 White
-34-80
+58
-9
+151 200
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U.S. Private High School Graduates, School Years2000-01 to 2010-11 (Actual) through 2011-12 to2031-32 (Projected)
220
200
240
300
320
2000-01 2010-11 2020-21 2030-31
Thou
sand
s
222,087
ACTUAL280
260PROJECTED
302,168
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Appendix III – Rhodes College Strategic Planning Structure, Timeline, and Membership (2018)
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Appendix IV - Selected References The Tuition Pricing Crisis: How College Leaders are Responding and Preparing for the Future The Chronicle of Higher Education, 2017 Sustaining the College Business Model, The Chronicle of Higher Education, 2018 From College to Life: Relevance and the Value of Higher Education, Strada Education Network | Gallup, May 2018 Knocking at the College Door. Western Interstate Commission on Higher Education, 2017. Rhodes College Profile, Office of Institutional Research, Spring 2018. U.S. Higher Education Sector 2018 Outlook: Addional Credit Pressures Spell A Negative Outlook for Institutions, Standard and Poors, 2018.
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AppendixVI-StrategicPlanningCommittees(2018)StudentBodySizeandCompositionCareyThompson,VicePresidentforEnrollmentandCommunicationsMarshallBoswell,ProfessorofEnglishMichaelMorgan,DirectorofFinancialAidMattDean,AssistantDirectorofAthleticsNoelleChaddock,AssociateDeanofAcademicAffairsBetsySanders,AssociateProfessorofComputerScienceJessicaRodriguez,DirectorofRhodesExpressNoorJaber’21CatrinaCattaneo’18BoundariesandFootprintRussWigginton,VicePresidentofStudentLifeandDeanofstudentsDavidMcCarthy,ProfessorofArtHistoryKendraHotz,AssociateProfessorofReligiousStudiesMichelleMattson,AssociateDeanofAcademicAffairsBrianFoshee,DirectorofPhysicalPlantTiffanyFord,DirectoroftheKinneyProgramVanessaRogers,AssociateProfessorofMusicKyleWebb,VicePresidentofFinanceandBusinessAffairsErikaFanous’19MallikaRao’20NewProgramsandRevenueMiltonMoreland,ProvostandDeanoftheFacultyAmyJasperson,AssociateProfessorandChairofPoliticalScienceJohnBass,DirectoroftheCurbInstituteSashaKostina–AssistantProfessorofModernLanguagesandLiteratureSandiGeorgeTracy,DirectorofCareerServicesJeffNorris,DirectorofAdmissionNikkiSoule,DirectorofPlannedGivingNikosZahariadis,ProfessorofInternationalStudiesWillJirik’18GeorgiosFalegkos’19
