jmutoml757
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RE: OT: Falwell: Liberty University football may reach FBS in a matter of "months...
(09-24-2016 09:26 AM)Longhorn Wrote: (09-24-2016 06:10 AM)JMU1985 Wrote: (09-23-2016 10:02 PM)Longhorn Wrote: (09-23-2016 09:50 PM)JMU1985 Wrote: (09-23-2016 08:44 AM)Longhorn Wrote: Post script to my last post...
If fans/supporters who profess to support JMU were as passionate about building JMU's endowment as they were about the freaking athletic conference that the university competes in, perhaps we'd be less concerned about being ranked the "#2 regional public university" in the South.
The truth is, when a broadcaster refers to "little Jimmy Madison" they aren't concerned about the size of the student body, or the number of acres our campus occupies. It's all about the Benjamins. At of the close of the 2015 fiscal year and last national report, JMU truly is "little Jimmy Madison" ranking 490th out of 806 institutions when comparing the size of our endowment to other institutions. Size does matter.
$81,948,279...that's where JMU's endowment sits, and don't kid yourself, changing conference affiliations from the CAA to the Sun Belt or MAC or CUSA isn't going to move the needle.
LU has $126m endowment and when I graduated from HS in 1981, Liberty Baptist College was a small start up. What does that say about our current financial model?
It doesn't say anything about JMU's "financial model"....JMU is a state supported university. Liberty is a private institution. If anything, LU's $126m endowment (which isn't anything to get excited about) and JMU's even more humble $81m endowment, tell a tale of two schools who haven't developed a culture of giving among their alums and friends.
LU has certainly learned to take advantage of offering on-line academic courses for the revenue they can generate, and that in-turn has certainly helped boost LU's bottom line and campus construction frenzy. Whether that kind of revenue generating model is providing a legit educational return to those paying for it is open to debate....although personally I think it borders on fraud (ala Trump University).
Every thing is part of a financial model. As you noted, that is how we measure.
In 35 years, LU has seen phenomenal growth in all areas.
We hired several LU graduates who work in finance and engineering. Each one of them performs and adds value in an extremely competitive environment. By the way, we have Dukes also.
I want to see JMU grow in stature and impact. Public or private, maybe we, or the state, can learn from what LU has done.
Honestly, there's not a darn thing JMU could learn from the way LU does business, except perhaps how NOT to do something. LU (as a private, closely held, religiously -based organization) is free to peddle themselves as anything their "divinely inspited leader" thinks best, however, the rest of the unwashed masses in Higher Ed leadership (not just in VA, but from around the globe) are also entitled to form objective opinions on what (and how) LU is doing business. At this time, apparently the "LU Way" has generated a tidal way of new revenue, but then again, so did the unscrupulous methods employed by Bernie Madoff.
LU's for-profit model of pushing online college classes of dubious educational value, and then having the unmitigated gall to boast that they have a university enrollment of 80k+ students isn't inherently an act of fraud, but it's rubbing right up against the fence line. LU is at risk of becoming (if it already hasn't become such) a debased diploma mill. At commencement LU should come clean, and just display a cardboard cut-out of the Wizard of Oz handing out diplomas to an endless line of Scarecrows.
Whether LU's new found source of wealth ultimately helps the school
acheive success in its quest to enter the promised land of FBS football only time will tell. If I had to guess, however, LU will be in for a very long wait. Perhaps, in time, the source of LU's income won't matter, and like the proverbial lipstick applied to a pig, LU's makeup will fool enough people for the school to retain some degree of probity. To many people, however, LU will always be just a pig with lipstick. Not that there's anything wrong with being a pig. The world needs more bacon.
I understand your comments about LU's "financial model," for there are many obvious differences between JMU and LU. As for the "dubious educational value" comment, you are entitled to your opinion. I have done graduate work at LU because the programs were germaine to my field. They have been valuable in my situation, and I know the hard work the degrees required. My experience involved various instructional platforms, including on-campus intensives and distance (my level is more research related post grad type stuff). Other LU grads I know who have done the distance learning degrees put in a lot of hard work and are doing quite well. Interesting to me is the fact that many schools are utilizing the on-line format to offer degree programs- Penn St, U of Florida, Boston U, FSU, Drexel, Northeastern, Arizona State, Indiana U, U Mass, CFU, CSU etc etc etc. I get your point, but you appear to paint with a broad bush when it comes to on-line education, or perhaps you simply have something against LU.
(This post was last modified: 09-24-2016 11:13 AM by jmutoml757.)
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