Bonaventure is going to be hit especially hard. It has a ridiculously small endowment of only $75 million. For comparison, Davidson has $821 million. Most private schools have over a billion.
The lack of liquid cash has been a problem for decades — exacerbated after the scandal— and never really replenished during the past decade of economic prosperity. Not pointing any fingers. I think the current administration has done a good job. But Bonaventure is in a particularly precarious position.
A lack of wealthy alums to draw from is at the core of the problem. A look at their "notable" alums is filled largely with journalists -- and while they may have success they don't have the kind of wealth you can really draw from.
Ed Bastian, Delta CEO, is perhaps the school's wealthiest alum but word on the street is that he doesn't donate a dime -- same with Neal Cavuto of Fox News....
You're spot on with respect to Bona, bf, but you've off with respect to others. Only about 65 of the roughly 1,600 4-year, not for profit private colleges have a $1 billion + endowment. And some of those that do aren't in much better shape than Bona when you look at things on a per-student basis.
Yeah, after looking around some more , there are about 100 schools with over 1 billion, but I guess that's not typical. However, looking around, Bona's endowment is still pathetic. Even of the local area private schools (Niagara, Alfred and Canisius), Bonas has the lowest endowment by about 20 million. Among the A10... Bonas is WAY at the bottom. LaSalle is the only other school in the conference with less than 100 million. Meanwhile both Richmond schools have more than 2 billion!
I have the impression that Bona's endowment has been prudently invested and earned appropriate returns. However, due to the enrollment problems that rainy day fund was needed to smooth things out for deficits in the operating budget. However, I don't have direct knowledge of this and haven't examined the financial statements, so what the fuck do I know? Not much, just a hunch.
SBU has been on the edge since the early 1990s. Poor management up until the current Prez and Board is to blame. Obviously Wick nearly buried the place. Southern Tier is also losing population in droves. Let's hope that SBU will survive. Shame. SBU was on a pretty good come back until Covid 19.