February 5, 2024

The Manhattan College Community,

Let me begin this message by acknowledging how difficult the past several months have been for me personal- ly; for our valued Board of Trustees; for my senior staff; and, most importantly, for the affected faculty and staff members as they relate to the down-sizing of a number of positions within the Manhattan College community. These decisions have not been easy nor have they been pleasant – far from it – but, unfortunately, they were very necessary and, frankly, overdue. In that regard, I sincerely appreciate the Board’s recent statement of support of my leadership in view of the faculty’s recent resolution.

What I have had to do here at Manhattan is occurring throughout the country at colleges and universities large and small. While I truly wish that our financial realities were different or that there were other viable alterna- tives, neither is true. It is in this light, that I would like to share some background leading to recent data-driven decisions.

During the past four-to-five years, Manhattan College has experienced an approximate 30% decline in student enrollment due to various factors, including an overall change in how higher education is viewed in the U.S. (including almost daily discussions in the media about the long-term values of higher education) and the pan- demic which saw us lose significant numbers of students, particularly those residing on campus leaving us with numerous dorm rooms unoccupied. This decline in the student population, however, was not matched by an accompanying decline in our operating costs (primarily costs for faculty and administrative salaries). This im- balance has led to annual deficits for each of the last five years, and we are projected to have another deficit this year. Combined those deficits will exceed $50 million. Next year we are projecting a similar deficit as the prior two years. Consequently, I was left with no choice but to act – and act decisively, as you would if faced with sim- ilar issues in your own households. As such, I needed to right-size the faculty and staff to develop a sustainable financial model for the College while maintaining the high quality of educational life for our students and the broad College community which defines Manhattan College. The alternative would be to increase tuition costs to such an extent, however, that it would severely compromise our enrollment and our important Lasallian Catholic mission.

While I cannot predict what the future of higher education will be globally, I emphatically can say that it is my intent to have Manhattan College be a leading proponent of the liberal arts and sciences, engineering, and business going forward. We are a strong institution with a proud history of over 170 years and our educational mission must and will continue.

We can only accomplish this sustainable future, however, by developing a clear and precise vision to modernize how we deliver our educational experience. Working with the Board, administration, and faculty, I am commit- ted to developing a plan that will bring forward the best technological resources and methodologies to meet the demands of society and industry by equipping our students with strong career-ready capabilities along with a foundation in the liberal arts and sciences. Over the next several months, our vision will be further refined as we engage with all the stakeholders within our College community.

I remain optimistic about the future of the College and I will engage the community on further developments. I will continue to urge that we all work together to bring eager and bright students to the Manhattan College campus.

Thank you for the opportunity to share these thoughts with you.

Milo E. Riverso President