About Letter to the Community

May 15, 2009

Dear Members of the Marlboro College Community,

Since my last community message on the effects of the economic downturn on Marlboro College, conditions have changed in some ways and stayed stable in others. Marlboro's strengths are still evident: committed and loyal students, faculty, staff, alumni, trustees and donors; good cash flow and fundraising, a cash reserve and an endowment, that while diminished, is contributing support for the college and all its programs; and increased knowledge, from recent research, that helps us to understand our unique attributes that differentiate Marlboro College from other small, liberal arts colleges.

Looking at the economy, some analysts see positive signs, described as a slowing recession, more availability of credit, new real estate sales and the influx of government stimulus funding. However, we are still in a global recession and contracting economy; unemployment is increasing; there are fewer loans available to pay for college; and students are accumulating more debt, thus limiting their choices after graduation.

Now we are also coping with the risk of pandemic flu. Our approach is to monitor and share information, emphasize prevention and activate the campus Pandemic Flu Task Force. "Vigilance" is our watchword this week as we complete the academic year and look forward to Commencement. As I write to you today, we have decided to go ahead with all scheduled activities.

Reviewing the conditions that contribute to Marlboro's vitality, our enrollment numbers for new students and transfers are tracking somewhat above 2008, while a healthy number of current students are planning to return. Responding to changing family circumstances, the 2009-10 budget increases financial aid, both need-based and merit.  We have not had to freeze hiring or lay off any faculty or staff. We are continuing to improve our physical plant: sprucing up the campus, completing ADA compliance for Whittemore Theatre, and using our Getty Foundation, Department of Energy, and private grants to study alternative energy sources and to improve energy conservation. The budget taps a modest $150,000 from cash reserves to keep up these improvements.

The Vermont General Assembly brought good news when it passed, and the Governor signed, a law (UPMIFA) that allows nonprofits to draw from their endowments when they are below their original gift value. This remedy measure corrected an older law that would have barred trustees from using the endowment. Our endowment had regained some 7 ½ percent by the end of April.

This budget is even more frugal than prior years without compromising our investment in people, the academic program, and admissions. The Graduate School is growing modestly and working on a strategic plan, building on 11 years of student satisfaction to attain financial stability while offering innovative programs for working adults.

I believe we will enter a new academic and budget year with better understandings of our strengths, our distinguishing differences, and the kind of students who will thrive at Marlboro. We maintain our commitment to "inspired teaching and student-centered learning," as stated in the first goal of our 2009-14 strategic plan for Marlboro College.

It remains difficult to predict the conditions that will continue to affect this small college. What we can be sure of is our ability to adjust while staying true to our mission. Next year's students will enter a true "intellectual community," one that has the power to transform their lives.

I want to thank every member of the extended Marlboro College community for their support, creative solutions, and dedication to our ideals.

Sincerely,

Ellen McCulloch-Lovell

President