Wednesday, June 1, 2016

Saint Catharine College in Kentucky will be Closing

Linda Blackford reports for the Lexington (KY) Herald-Leader that St. Catharine College in Saint Catharine, KY will be closing in July.  The institution was founded by the Dominican Sisters of Peace in 1931.  "A note from the Board of Trustees" with the announcement is available on the college website.
While f.t.e. enrollment was 4.7% higher in fall 2015 than it was in fall 2003, it had peaked at 834 f.t.e. students in fall 2011 and had been trending downward in recent years.  Total revenues and investment income had increased since FY2004, by 53%...unfortunately, expenses more than doubled rising by 133%.
As a result, Saint Catharine's financial situation was unsustainable.  Following calculation of ratios, using a model publicized on The Sustainable University website, two stars are placed on the chart below.  The one in cell B3 reflects changes in Saint Catharine's expense and equity ratios for the five year period from FY2004 through FY2008.  The star in the A3 in the upper right hand corner reflects changes in ratios from FY2011 through FY2015.  



Supporting data for calculation of the ratios was pulled from the Integrated Postsecondary Education Data System (IPEDS) and is displayed in the following table.