Last week our Class of 2025, surrounded by family and friends, gathered under the oaks, maples and elms that grace Guilford’s Quad to celebrate their achievements and give them their well-earned diplomas. It’s the end of one journey, but more important, the start of another. I can’t wait to share their excitement.

Guilford too is on a journey into a promising future. We are now in a transition to that transformation, a transition that is addressing long-standing and deep-rooted financial and operational challenges that persisted alongside an outstanding student experience and excellent academics and athletics.

Simply put, as with many small, tuition-driven liberal arts colleges today, our revenues have not kept pace with expenses. The transition team has worked with employees since January to increase revenues from the primary source, tuition, and from stronger fundraising and other sources. The College is doing the hard work of aligning revenues with expenses for fiscal year 2025, fiscal year 2026 and beyond. We must do this to comply with standards for accreditation with the Southern Association of Colleges and Schools Commission on Colleges, which will make a decision about our membership in December following two years of probation.

Post-COVID, many internal and external forces have brought us to these crossroads: Inadequate budgeting practices, outdated and ineffective finance and operations systems, excessive discounting of tuition, and the overuse of short-term debt and additional draws on the endowment to fund operating deficits.

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Since the transition began in January with me as Acting President, Keith Millner as Acting Chief Operating Officer, and the advice and support of three trustees, we have taken action to reduce spending, find new revenue, collect on accounts receivable, reduce accounts payable,and alter the budget trajectory while protecting and preserving the quality of our educational experience for all students. It’s a community project, and I’m grateful for the creativity and understanding of employees and students, the support from alumni volunteers and donors, and the engagement of organizations and leaders in greater Greensboro who care deeply about Guilford and its future.

Balancing the budget and bolstering our reserves is the first step but not the last one. For the coming years, we will deploy a new approach to recruiting and retaining students who will succeed and graduate, enforce revenue-related policies such as paying tuition, room and board before starting classes, continue a higher level of fundraising with outreach to foundations as well as individuals, engage more deeply with the Greensboro area community, and of course focus on our core purpose – providing a practical, transformative liberal arts education grounded in Quaker values. Our For The Good of Guilford fundraising campaign has raised more than $3.3 million of its goal of $5 million by June 30. Many Guilfordians have come together to get their beloved college through this crisis, including a number of substantial, one-time legacy gifts. We thank all of you. Furthermore, we have reached 75% of our goal of 1,800 alumni donors this fiscal year. That will be double the number in fiscal year2024. Moving forward we wil
l need sustained, recurring gifts from all who can give to provide a foundation for long-term financial sustainability. Please scan the QR code on this page to learn more about ways you can help the College financially.

I recognize this is a time of great uncertainty for many Guilfordians. I find comfort in knowing that, throughout its history, the College has weathered struggles and found new ways to serve our students, and we are doing so again. We can’t change the past but we can change the future. With your help, that is happening now.

Working together, we are approaching Guilford’s 250th anniversary with strength and commitment to ensure that the unique Guilford education will continue to transform our students and the world for generations to come.

With appreciation,

Jean Parvin Bordewich
Acting President