Facing $9 million deficit, Alverno plans to cut jobs, academic programs

Alverno College announced looming cuts on the horizon, including the elimination of faculty and staff jobs.

Some academic programs are also on the chopping block. How many jobs and which programs would be lost wasn't clear Monday. A full recommendation is headed to the school's Board of Trustees within the next 60 days.

In a statement, Alverno characterized the cuts as "proactive measures" to "safeguard our financial sustainability" amid a challenging landscape for small private insitutions.

Alverno projects its deficit for the fiscal year ending June 30 to be about $9 million, college spokesperson Jean O'Toole said.

What do publicly available records indicate about Alverno's finances?

Alverno's tax forms show the school has run a deficit in four of the last five years. The deficits ranged from $1.8 million to $3.7 million.

Student enrollment was just over 1,900 students in 2012, according to federal education data. The college said current enrollment is about 1,300 students.

Alverno employs the equivalent of 144 full-time faculty and 165 staff, O'Toole said.

The U.S. Education Department annually calculates the overall financial health of private institutions participating in federal student aid programs based on schools’ audited financial statements. The scores range from -1.0 to 3.0, with schools scored 1.5 or higher considered financially responsible.

Alverno's most recent score from 2020-21 was 3.0.

What are other Wisconsin institutions doing?

At least three University of Wisconsin System schools are eliminating jobs. In addition, three campuses will end in-person instruction at the end of this school year.

Private insitutions are also downsizing. Concordia University Wisconsin is laying off 24 people at its Mequon campus by the end of this school year.

Northland University in Ashland is still deciding whether it will have the money to continue operating come fall.

Contact Kelly Meyerhofer at kmeyerhofer@gannett.com or 414-223-5168. Follow her on X (Twitter) at @KellyMeyerhofer.

This article originally appeared on Milwaukee Journal Sentinel: Alverno College announces job cuts, academic program restructuring