Colleges, Staring Down Financial Losses, Seek Philanthropy

[Stagophile]

Like most colleges, the twin crises of the pandemic and the economic downturn have blindsided Fairfield University in Connecticut.

After sending students home for the semester, the university is accelerating existing plans to move more courses online this spring and next fall, costing millions of dollars. President Mark Nemec said the private Jesuit university is not running a deficit, but it does owe more than $10 million in room and board refunds for this semester. Its $375 million endowment is suffering steep losses as the stock market tanks.

So last week, Fairfield launched a fundraising campaign to cover costs associated with the pandemic. The pitch included an online video featuring images of students walking across a crowded campus, working in labs and playing volleyball. The goal is to support students’ financial aid, mental health services, remote learning and spiritual guidance.

“Our ask is about our future, like any philanthropic ask,” Nemec told WGBH News. “Despite the current challenges, we are very bullish about our long-term future.”

www.wgbh.org/news/education/2020/05/13/colleges-staring-down-financial-losses-seek-philanthropy-from-donors-alumni

[FU73]

So last week, Fairfield launched a fundraising campaign to cover costs associated with the pandemic. The pitch included an online video featuring images of students walking across a crowded campus, working in labs and playing volleyball. The goal is to support students’ financial aid, mental health services, remote learning and spiritual guidance:

www.fairfield.edu/alumni-and-friends/stags-for-stags/

[FU73]

President Mark Nemec said the private Jesuit university is not running a deficit, but it does owe more than $10 million in room and board refunds for this semester. Its $375 million endowment is suffering steep losses as the stock market tanks.....

Sounds like a big delay for the Convocation Center and donor contributions?

[FU73]

Fairfield Responds To Students' Urgent Needs With Stags For Stags
Stags for Stags focuses on ensuring that all students, including the class of 2024, can begin and finish their academic journeys.

New needs have arisen for current and future Fairfield students in four key areas. Each of these areas focuses on maintaining academic continuity and the vibrancy of the Fairfield student body, as well as ensuring that all students, including members of the Class of 2024, begin and finish their academic journeys.

In an effort to respond to the new and urgent needs of students and their families that have arisen amid the Covid-19 pandemic, Fairfield has launched the Stags for Stags strategic philanthropic initiative, encouraging generosity to support students in the areas of: critical financial aid; student wellness and resiliency; academic response and preparedness; and spirituality and guidance. Each of these areas focuses on maintaining academic continuity and the vibrancy of the Fairfield student body, as well as ensuring that all students, including members of the Class of 2024, begin and finish their academic journeys. Support for the Stags for Stags initiative will also be the focus of the University's upcoming STAGiving Day on Thursday, June 4.

Many Fairfield families are facing pandemic-related financial circumstances that could prevent the continuation — or start — of their educational journeys in the fall. In addition, there is urgency to maintain the health and wellness of every student, and to assure that academic resources in and outside the classroom are fully accessible to all.

"Each day, I talk to families who have experienced the loss of a job or an event that pushes a Fairfield education out of reach," explained Vice President of Enrollment Corry Unis. "Additional funds for financial aid will help so many deserving and talented students overcome this obstacle."

Staying true to Fairfield's Jesuit values, the University is also aiming to assure support for spiritual guidance and reflection that will provide the strength and resolve to carry students through their days, studies, and service to others. "It is essential that all students, especially first-year students unfamiliar with campus, can seek the guidance, support, comfort, and sense of community through God that is a hallmark of the Fairfield experience," said Rev. Gerry Blaszczak, S.J., vice president for Mission and Ministry.

Additionally, support from the community is paramount to enhance the educational experience of Fairfield student-athletes. Fairfield Athletics is in the planning process for varsity programs to return to campus to compete at the highest level. Fairfield's Director of Athletics Paul Schlickmann explained, "Support towards the operational needs of each program provides Stag student-athletes with the requisite resources to compete for championships and supplement scholarship allocations that can be used to help them get through these uncertain times."

Many members of the Fairfield family have already given support or expressed interest in helping current and incoming students — a testament to the Stag community's commitment to others. The Stags for Stags initiative is a way of sharing Fairfield students' most urgent needs with community members seeking ways to provide philanthropic support.

"Stags for Stags is an urgent call to action," said Fairfield's Vice President for University Advancement Wally Halas. "It is a meaningful moment when our community will once again come together, guided by our Jesuit values and belief that providing an education is — and always will be — the way we can improve our world."

patch.com/connecticut/fairfield/fairfield-responds-students-urgent-needs-stags-stags