By Lisa Marsh Ryerson 
President of Wells College

Welcome to one of the largest Reunions ever! It is always wonderful to see so many Wells women back on campus and in Aurora. And this is an historic Reunion as we celebrate Aurora’s Renaissance. 

We have developed a unique model for higher education’s contribution to economic development through which Wells shares the benefits of philanthropy with her extended community. And as we experienced last night, a revitalized Aurora is contributing to your enjoyment of this Reunion.

Wells owns nearly half the commercial properties in Aurora, including, of course, the Aurora Inn. The inn and other properties were suffering from deferred maintenance. The college could never have generated the capital to save the inn or nurture businesses. The inn’s deterioration alone was costing Wells hundreds of thousands of dollars a year and contributing to the village’s decline. Now, that liability has been erased from our books, and many new jobs have been created as a result of the Aurora Foundation’s work.

Aside from the costs of defending ourselves against the Aurora Coalition lawsuit, village renovation funds came entirely from gifts, not the Wells budget. This is truly a gift because all profits benefit the college. Now it is up to the Aurora community to embrace and sustain this legacy. 

Early on, some said the prospects were hopeless, but we were willing to take a risk that came from the heart. This project represents a shared understanding of the need for real community built on the foundation of tradition and culture. Together, college and community, we made a choice in Aurora. 

To live a way of life that values human relationships does not require us to live among the ruins of the past. It does require us to take risks and transform the world in positive ways, to learn to create prosperity for ourselves. I hope other colleges and communities follow our lead and form partnerships that will allow them to choose their futures, rather than having choices made for them by external forces. 

Author Ursula LeGuin wrote, “The only thing that makes life possible is permanent, intolerant uncertainty: not knowing what comes next.” 

This year many Wells students, faculty, and staff observed for the first time the effect of a contracting economy on a college campus. Indeed, during the 2002-2003 academic year our attention has been focused necessarily upon finding ways to continue our pursuit of excellence in harsh economic times.

An article in the April 28 issue of BusinessWeek, which you might have read, clearly outlines the current state of higher education. It says, “The revenues of public and most private colleges have run smack into an ivory-covered brick building. The public systems are being squeezed as many state governments face their worst budget crises in 60 years. The country’s 1,600-plus private colleges are crimped by falling endowments and donations, just as more students are unable or unwilling to pay the full retail price.”

The article accurately explains that among private schools, a small core of elite universities - such as Yale, Brown, and Harvard - are using their vast resources to build new facilities and costly programs. This intellectual arms race sends shock waves through higher education as colleges struggle to recruit talented students and compete by enhancing their own campuses. 

The sum of all college and university endowment holdings in the United States is $222 billion. Over half of this total is held by only three dozen universities. Even the wealthiest schools are not free of hardship. Duke University - in the high endowment group - has announced it will cut 50 faculty positions - the equivalent of the entire Wells College faculty. 

Additionally, 80% of students now attend public institutions. It is predicted a small group of schools with prestige and resources will grow stronger, while a large group of colleges will struggle, retract, and some will close their doors. 

At Wells, we are compelled to find innovative solutions to shape our future or we will be doomed to the constant struggles and dangers faced by those colleges that do not have the wisdom and courage to change. The educational needs of women are changing, the student population has changed dramatically, and the explosion of new knowledge and technology has changed the liberal arts. 

Marge Piercy wrote, “We seek not rest but transformation.” Rather than be wary of change, we are compelled to embrace it - not as something to be feared but as an opportunity. 

Dire as this message might sound, we must not lose sight of the good work being done here. 

The Wells experience produces directed, self-confident, and empowered women. English major Rene Battelle graduated cum laude with distinction in her major. She was awarded the Chronicle Prize for literary achievement. A Henry Wells Scholar, Rene combined experiential learning opportunities, campus activities, and close ties with her professors to excel in her field. Using her knowledge of literature and an internship, Rene published two issues of a literary journal she founded. In conjunction with the magazine, Rene built a website and worked with her professors to learn about editing, marketing, and the business aspects of running a publication. 

Through a blending of the traditional liberal arts with new approaches to learning and access to technology, she was able to create an individualized learning experience that met her goals. 

This emphasis on individual growth is the essence of the Wells experience. How this experience is delivered and structured, however, has to differ from the past by necessity. 

During Reunion, we see the beauty of the campus and familiar traditions. For many, Wells is a dreamy island of contemplation that remains untouched by the tides and storms that create perpetual change in the world. However, paraphrasing John Donne: We are not an island, entire of itself; we are a piece of the continent, a part of the main.

Wells, too, is an ever-evolving and ever-changing community, and so it has always been. The Wells College of 1953 was not the Wells College of 1978. In turn, the Wells of 1978 is not the Wells of 2003. 

We each have a different memory of Wells, and we cherish our memories. In every era, behind the welcoming community lurked concerns of which we were scarcely aware. Why should we have been? We were here to learn and grow. This is what the community wanted for us, but learning ultimately leads us to the heart of the matter, and I want to tell you about the reality of Wells today.

Students entering higher education now are vastly different from previous generations. This is reflected in the Wells community, as it is on every campus. 

Research tells us and our experience demonstrates that students are arriving at college disengaged from academics with high expectation for success due to grade inflation in high school. At the same time, student self-ratings of their physical and emotional health are at record lows, and women rate their mental and physical health at a lower level than men. The traditional structures of higher education are poorly equipped to meet their changing needs. 

In the past, most Wells women came from similar backgrounds, understood the goals of liberal education, and assimilated easily into college culture. An overview of today’s college population reveals a far different scenario:

1) Today’s students are more likely to work, view themselves as consumers in the process of education, and see college primarily as preparation for a career.

2) 75% of high school graduates continue their studies. 90% of high school seniors expect to attend college. Attendance has gone from a privilege to a near-universal experience. Due to the information-based economy, a college degree has now replaced the former function of a high school diploma. The number of first-generation college students is rising rapidly. 

3) 73% of undergraduates in America today are nontraditional students, many of whom commute to college and do not have a residential experience. At Wells, commuters account for about 15% of our population. The number is growing. 

4) 58% of bachelor’s degree recipients attend two or more colleges, which means the four-year process of individual development in one campus community is no longer the norm.

5) Growing numbers of students are over the age of 25. 

6) Nearly a third of students seeking degrees attend college part-time. The idea of the residential experience is foreign to them. 

7) One in every three college students is a member of a minority group. Unfortunately, our institutions are slow to adapt to the worldviews of non-European cultures and do not grasp the advantages of difference.

8) Distance learning - via computer - has become commonplace. A movement that some have predicted has already changed the notion of higher education forever. 

A recent report on the future of higher education issued by the Association of American Colleges and Universities says, “Today’s college students come from an extraordinarily diverse array of national, racial/ethnic, and socio-economic backgrounds. They bring great vitality to campus, but also place new demands on faculty knowledge and skills…. These far-reaching developments call for new approaches to educational quality. But needed reforms are hindered by the absence of broadly shared agreement about what students ought to accomplish in college.”

In this vacuum, many colleges have adapted to change by abandoning residential-academic models, offering courses at night and on weekends and via the internet. Many larger institutions have become commuter campuses, investing in larger parking lots and part-time instructors rather than programs and stable faculties. The residential, liberal arts model is becoming an anachronism. It is no longer the experience of the majority of students engaged in higher education. It is not at all surprising that student retention is an issue on many campuses across the nation, as it is at Wells. 

Students do not necessarily understand that life in a learning community is a component of high-quality education. Often, they view their relationship to the college as a consumer seeking job credentials and are linked most closely to social networks apart from campus. They leave campus on weekends and maintain relationships with others via the web; however, they expect the communities where they attend college to provide the same access to services and entertainment they find in the urban and suburban environments where they were raised. According to research from UCLA’s Higher Education Research Institute, they seek college environments where students, faculty, and staff represent and value diversity. I am committed to creating an environment that values diversity as a source of strength to reach our potential.

Because college-bound students do not necessarily understand the classroom, campus, and residence hall are all part of a connected learning process, Dean of Students Karen Green and her staff are educating students about the importance of community in a liberal arts environment.

To create a healthy community that unites members from a wide spectrum of experiences and cultures, we must have shared goals and expectations for behavior. Vice President Ellen Hall led a community-wide team that completed a statement of community standards that - along with the Honor Code - establishes a shared set of core values necessary for the Wells community to live together with civility, mutual respect, and personal responsibility. 

Private institutions have become leaders in higher education diversity. Many might assume public universities are on the cutting edge of this change, but this is not the reality. New York’s private schools graduate more African-American and Hispanic students than either the State University of New York or the City University. The independent sector is the state leader, surpassing SUNY, in providing access to low and middle-income students - 50% of those attending are the first in their families to go to college. Again, the student body at Wells reflects this trend. 

Through investment and professional development, our admissions department is state-of-the-art. They use sophisticated statistical models based on research, work with professional marketing groups, and interact with some of the best consultants available, in addition to the traditional, hard work of visiting high schools - public and private - across the nation and abroad. 

More students entering college now are using college rankings published in national magazines and college websites to select a school, and women are more likely than men to consider web information in the selection process. This year, Wells’ website was redesigned to be more responsive to prospective students, as well as to alumnae and donors. We do our best to come out ahead in the college rankings game: Wells is ranked #ll nationwide among four-year liberal arts colleges offering quality education at an affordable cost in the 2003 edition of America’s Best Colleges, published by U.S. News & World Report. 

For nearly two decades, we have expended vast resources on recruitment and implemented numerous strategies, including the 30% tuition reduction. In reviewing our enrollment trends, one conclusion is evident: In order to compete, Wells must and does provide structures, systems, and services similar to those at other colleges - all larger than Wells. However, market demand has consistently produced a student body ranging from 300-400 students.

In the context of the changing needs of women, demographic realities, and the demand for rapid responses in a competitive marketplace, integrated, sustained planning is essential. Yet, as a review of Jane Marsh Dieckmann Class of 1955’s history of the college reveals, the story of Wells is marked by a series of disjointed, often contradictory planning efforts that share a common trait — although much discussion took place, they were never fully implemented:

1) In 1925, President Kerr Duncan Macmillan unveiled a plan to double the size of Wells. He wanted to build a coordinate women’s college - another campus - in the forest southwest of the current campus. Macmillan Hall was the only result of his work. The rest of the plan was abandoned due to the Great Depression and unstable enrollment. 

2) President Long planned to construct a sister building to Main, which would require an enrollment of about 800 students. The plan was never pursued.

3) In 1972 the college produced a long-range plan that put forth many recommendations, including curricular changes, that would result in a student body of 800 by 1980 - a goal never achieved. In the meantime, the ad hoc Committee on Education of Women in the Modern World produced another proposal suggesting different changes.

4) In 1977, the college released the “Milliken Report,” produced by a group of consultants, which was rejected by the community except for a few minor recommendations.

5) In the 1980’s the Committee for the 21st Century was formed to study the academic program and the college’s commitment to single-sex education, among other topics. This work had little impact on changing Wells and was soon forgotten.

6) In the early 1990’s another outside consulting group was retained which produced the “Wolf Report,” that recommended radical changes in the curriculum. Most of their findings were rejected. Some of the material formed the basis of a 1993 strategic plan that included the creation of a Leadership Institute and an enrollment of 550 students by 2000. In 2000, the Leadership Institute had been dismantled for several years and enrollment was 407 students. 

These plans were developed by smart, sometimes visionary leaders and community members, often with advice from external experts. While no doubt acting with the best of intentions, a close reading of the history suggests the community, including alumnae, was resistant to the plans and the findings that inspired them because they were unwilling to address the true challenges facing the college. Often the plans were developed in reaction to a crisis. Thus, planning was not an engrained part of college culture. It is within our power to shape an excellent future, but we must change the college culture from one of fear and apprehension about the future to a sense of excitement about the possibilities. 

This discontinuity in planning, persistent through the 20th century, has contributed to Wells’ current situation. I am committed to leading us to enduring excellence. We continue to examine outcomes and assess progress to understand what we do well and where we will go. Tradition has enduring elements that give us strength and stability, but as we know from our experience in liberal arts studies, it is the monumental task of each new generation to identify what endures in a living culture and also what must be relegated to the archives of history. This is the awesome responsibility of the leader and the scholar. 

Long-range planning also requires us to assess how the physical environment of the campus contributes to the achievement of our mission. This piece of our work - known as campus planning - has generated widespread interest. The first outcome of campus planning is fundraising for the sciences and a new science facility. Changing budget needs and the sluggish economy have slowed fundraising in this area. 

Discussion about the future of campus planning continues in the Campus Environment Committee. Many of you have asked about the fate of Long Library: The building presents structural and financial challenges, but no specific decision has been made concerning renovation or removal. In fact, during the last year, only one change was made in the campus environment beyond routine maintenance: A parking lot was added behind Leach Hall to accommodate the growing number of students with cars. However, campus planning remains a part of our comprehensive effort. We would be remiss not to do so. 

Central to all we do is our quest for excellence across the curriculum. Despite assertions to the contrary, our curriculum still includes a broad array of arts offerings as well as foreign languages, literatures, and cultures.

Establishing a viable faculty-student ratio that allows close interaction between students and professors is essential. Our current ratio is approximately 1/8. A strength that has grown out of these bonds is an extraordinary research program where students work side-by-side with faculty. 

This year seven seniors were selected to present their research at a national conference held at the University of Utah. Their presentations represented a full range of topics from our curriculum.

We offer 21 academic majors and 36 minors - providing a rich array of course offerings for a college of 400 students. No programs were cut this year. In fact, we added a minor in Japanese language studies. As we strive for academic excellence, concerted planning in this area is of particular importance. 

Recent planning efforts include the formation of the Critical Issues Action Committee in 1997 that, similar to past approaches, made recommendations for change at the college in response to enrollment declines. Their findings have guided planning during the past six years. Facing again an environment of limited resources, I have formed the Sustainable Wells Action Team (SWAT) composed of 3 faculty members, 2 deans, 2 trustees, and me. Professor of Physics Scott Heinekamp serves as the chair. Understanding our situation, SWAT is exploring new strategies for sustainability, particularly in the curriculum. 

Assessment enables us to examine student outcomes and answer the all-important questions: Are students gaining the knowledge and skills they need for a fulfilling life? What kind of curriculum can we offer to serve women in a changing world? This year, the faculty and academic affairs team have taken steps to improve program assessment. They have evaluated the first-year seminar, WLLS 101; developed a set of learning outcomes for each major; and in May approved a set of program goals. Our path to success is through planning and innovation. 

Building and maintaining an excellent faculty is a key component of institutional planning. We seek a stable balance of new professors bringing fresh perspectives and senior members of the faculty who are grounded in their disciplines and are seasoned instructors. The appointment of part-time instructors contributes to the infusion of new ideas and approaches, which is much-needed because the size of our faculty is smaller than some single departments at other colleges. 

This spring we bid farewell to six long-time employees who chose to retire: three faculty and three staff members. Among them was Professor of Psychology Aurelio Torres - a Wells institution and one of my faculty advisors. I want to read you a passage from a letter written to Aurelio by his son Gabriel:

“You invest yourself in your teaching and involve yourself with your students. Comparing my own Psych 101 Class [at USC] I saw just how special your teaching was. I have memories of our house filled with students all the time for parties and workshops. This was not a rare occurrence but the norm. I can’t think of a single college professor whose home I went to for a party… You on the other hand have touched the lives of so many young women, teaching and guiding them through changing times that have spanned five decades. Your students not only remember your name, they remember you in the dozens of Christmas cards you get each year, the pictures of their children, invitations to their weddings, and updates on their careers. You invested in their lives and they invest back in yours.”

I can find no better words to describe what is special about Wells - we value - we cherish - relationships. Some of you heard directly from faculty members that they fear the institution of tenure is eroding at Wells. I understand their concerns. In response to present conditions, some colleges have eliminated tenure and majors. However, the trustees and I value tenure as an important component of a healthy academic community. Tenure promotes academic freedom, essential at a liberal arts college where education is based upon the quest for knowledge and truth. 

Decisions must take into consideration our finances. We made many advances in the late 90’s when we could invest more in program growth, marketing, and improvements in college infrastructure. The current economic environment - likely to continue in the foreseeable future - has curtailed this approach. We are now in a position where we must move the college forward in a climate of serious financial constraint. Still, we must move forward.

A balanced operating budget, a mark of financial health for all colleges and organizations, is a top priority. At Wells, we have operated in a deficit spending mode for many years. The income we generate annually from tuition, auxiliary enterprises, and annual gifts has not been sufficient to meet our yearly expenses, so we have relied too heavily on income generated from our endowment.

Our endowment is a large portfolio of financial investments currently valued at $52 million. You might think, given this sum of money, we really have no concerns. In reality, we may only spend income generated by the endowment - not the principal. Additionally, much of the money in our endowment is restricted. The earnings may only be used for specialized purposes designated by the donors. Appreciation from unrestricted funds may be used for budget support, but overuse of these funds to pay current costs means borrowing against the future. As you can see, the endowment is not a bank account of millions of dollars from which we can withdraw any amount we desire. 

All colleges spend a portion of endowment earnings to meet their annual operating budgets.  The trustees have had a long-standing policy that the annual draw on the endowment should not exceed 5% of the market value averaged over twelve quarters. The 5% rule is the national norm. 

However, for years Wells has drawn substantially in excess of 5% annually to meet expenses. When returns on our investments were high, a more than 5% draw on endowment earnings was not as threatening to the college’s financial stability as it is now. In recent years, earnings from the endowment have declined. In short, income available to the college has decreased, and the endowment has lost value, both through declining markets and our over-draw of funds. The trustees and I fully understand we must not leave the future to chance, including fluctuations of financial markets. The scenario of deficit spending must be reversed. 

The college’s precarious financial situation has been another recurring theme since the days of Henry Wells. Toward the end of his life, Henry suffered financial reversals and was unable to make the investments needed to properly launch the college. If it were not for E.B. Morgan, a sympathetic benefactor, the college probably would not have survived. Morgan paid bills and funded building projects. He gave $100,000 for the endowment in 1873, a huge sum in today’s term. By 1880 records show he had to pay a $30,000 debt accrued by the college, another large sum. 

In eras that alumnae can remember, deficit spending and endowment challenges persisted. When Louis Jefferson Long became president in 1951, he inherited a growing deficit of $50,000, up from $13,000 four years earlier. By the late 60’s an enrollment spike was taxing the budget. When enrollment was declining in the 70’s, revenues dropped sharply. By the time Sissy Farenthold arrived in 1976, the endowment had declined to almost nothing, and extreme measures had to be taken. She was told by the Women’s College Coalition Wells could only survive for three more years. During Patti Peterson’s presidency, the size of the endowment tripled from $7 to $21 million, but student financial aid increased 66%, and deficit spending persisted. 

Indeed, the growing need to provide student aid dating back to the 70’s has weakened tuition as a revenue source here and at virtually every other college in the nation. By the early 90’s, $3 million in endowment earnings had been spent in a matter of years, essentially voiding growth. Ever-increasing deficit spending has become the norm in the last two decades. This spending cripples endowment growth and thus prevents us from establishing long-term, financial stability. The cost of higher education has grown double, sometimes triple, the rate of inflation for more than a decade. Where do we stand today? The budget deficit for the current year - assuming the 5% policy - is $2.7 million.

Wells’ operating budget includes the income and expenses needed for annual operation. Higher education is labor intensive. Salaries and benefits account for over half of our operating budget. To lower costs, all campus departments reduced their budgets by 17-26% for this coming year. Our budget challenge is the fixed amount we must pay to maintain a vast physical plant. It is clear we cannot cut our way to health. 

Although our revenue from tuition - minus financial aid expense - has increased in recent years, tuition accounts for only a portion of any college’s income. Our expected revenue from tuition has not been fully realized due to lower than anticipated retention rates.

Annual fund gifts from alumnae and friends contribute directly to the day-to-day operating budget. Although individual donors have been affected by negative market and economic conditions, they have continued to contribute generously to Wells. I offer my whole-hearted thanks for your support. Giving by alumnae and friends remains crucial. Unrestricted annual funds are necessary for the operating budget, and gifts to the endowment are essential.

Those who have been involved with Wells’ operations know our real “insider” culture is not so much about living in the past as it is a jarring existence of perpetual crisis. For the college to flourish we must move from a reactive culture of crisis to a culture that welcomes innovation and celebrates success. Commitment to implementing a vision is a prerequisite for a culture shift. 

Wells has escaped disaster - narrowly - time and time again. Scraping by has become a way of life - people have become desensitized to a condition of perpetual crisis. “We’ll get by,” they say, but merely getting by is not what we deserve. The cycle must be broken, and now is the time. Excellence does not mean survival. It means shaping our own destiny. 

Alumnae and friends always generously ask me what they can do for Wells. In our lives, we expect change and often embrace it. Yet when it comes to our college, we may be wary or resistant. I ask you to be part of a necessary culture shift at Wells. I ask you to welcome change - which you know is inevitable in all things on earth - and appreciate the opportunity it brings. This does not come without risk, but the alternative is a sad, slow withering away of all those things we value. 

When the college opened nearly 150 years ago, only half the population had access to higher education. Henry’s vision was to change that, and his vision has been realized beyond his wildest expectations. Women have benefited from access to college, and the world has benefited. 

While he could not foresee the 21st century, Henry was a leader who understood change. He earned his place in history as an innovator and entrepreneur. He knew organizations evolve in response to a changing world. If he were here with us now, he would not want to know how we keep 19th century traditions alive in 2003. Henry would ask, “Is the college I founded still vital? Does it still have a purpose?”

Our past would say we are reluctant to hear the answer. Because change and transformation strike to the core of our emotions, our natural human instinct might be fear or apprehension. Yet change in no way diminishes the value of our individual Wells experience. You are here to celebrate with us because the journey of your life has been transformed by Wells. I understand this journey. It is mine too. When we gather for Reunion, we celebrate the past, but the value of our experience is based on learning and relationships. I encourage you to share my excitement in support of an excellent future. As I have said, our current situation and history prove we must transform. 

I refuse to ignore our history. I understand the challenging and shifting landscape of American higher education. I will lead a transformation. 

Delivered at Alumnae Reunion 2003, Wells College