The Search for a Vice President for Finance and Administration
WITTENBERG UNIVERSITY
•
SPRINGFIELD, OHIO
THE SEARCH FOR A VICE PRESIDENT FOR FINANCE AND ADMINISTRATION
The appointment of Dr. Michael Frandsen as Wittenberg University’s 15th President in July 2017 signals a time of visionary leadership and strong management at a challenging moment in all of higher education. A new Vice President for Finance and Administration (VPFA) will have an uncommon opportunity to contribute directly to the life of this excellent liberal arts college. The new VPFA’s ability to articulate fresh business models for Wittenberg in support of an emerging strategic plan, to build financial stability and sustainability, and to strengthen the University’s sense of community will be critical. A keen strategic thinker and financial analyst, the new VPFA will be asked to openly engage multiple constituencies in the sharing of fiscal information and plans. The VPFA will report directly to and partner with the President, and will be responsible for a multi-faceted operation. Serving as a key member of the University’s senior leadership team, the new VPFA will be invited to begin work in the summer of 2018.
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THE SEARCH FOR A VICE PRESIDENT FOR FINANCE AND ADMINISTRATION
M I S S I O N S TAT E M E N T
experience. For example, the
contribute more than 25,000 hours of
Wittenberg University provides a liberal
University opened COMPASS: Sweet
community service, and the University
arts education dedicated to intellectual
Success Center in 2016, a move
has repeatedly been listed on the
inquiry and wholeness of person
that brought multiple academic and
President’s Community Service Honor
within a diverse residential community.
co-curricular resources under one
Roll. In addition, the campus is home
Reflecting its Lutheran heritage,
roof so as to manage the needs
to the Susan Hirt Hagen Center
Wittenberg challenges students to
and expectations of Wittenberg’s
for Civic and Urban Engagement,
become responsible global citizens,
1,914 undergraduate students. The
which serves as a gateway between
to discover their callings, and to lead
University’s value proposition, The
the Wittenberg and Springfield
personal, professional, and civic lives
Wittenberg Commitment, further
communities. Described by former
of creativity, service, compassion,
reinforces the institution’s integrated,
Ohio Lieutenant Governor Lee Fisher
and integrity.
student-centered focus, creating a
as “the model” for how universities
clear path for each student’s personal
should engage with their communities
and professional success. Among
to promote economic development
ABOUT WITTENBERG UNIVERSITY
the Commitment’s highlights are:
and ensure that generations of
comprehensive advising and support
students are committed to civic
The third oldest Lutheran college in
from faculty, staff, alumni and peers;
engagement, Wittenberg’s Hagen
the nation, Wittenberg is affiliated
a full-year transitional seminar
Center was renamed in 2011 thanks
with the Evangelical Lutheran Church
program for first-year students;
to the generosity of the late Susan Hirt
in America and accredited by the
and active, engaged learning of
Hagen, class of 1957, who endowed
Higher Learning Commission of the
the highest caliber.
the center with a $6 million gift. Moreover, Wittenberg is one of only
North Central Association of Colleges and Schools. Since its founding in
Believing that service provides an
a select few schools in the country
1845, the University has embraced
intentional opportunity to give
to offer a Peace Corps-endorsed
a forward-thinking vision and stayed
back to the world and to promote
preparation program.
true to its mission and values, all
social justice, Wittenberg has
while supporting academic innovation
consistently been recognized for
and integration, and expanding the
service excellence. Annually, students
breadth and depth of its student W I T T E N B E R G
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THE SEARCH FOR A VICE PRESIDENT FOR FINANCE AND ADMINISTRATION
Students Wittenberg’s student body is best characterized as smart, genuine, hardworking, multi-faceted, balanced, wellrounded and passionate. Students like to be active participants in their education, and thus are willing to serve, lend a hand, lead an organization, study abroad, intern, or pursue research in partnership with faculty, among many other co- and extra-curricular opportunities. Students are required to reside on campus for their first two years and then have the option of spending their junior and senior years in off-campus, University-owned housing, which includes nearby homes, Greek houses or newly built campus apartments. Nearly three-quarters of the student body hail from Ohio, but 38 states and 13 countries are also represented on campus. Fifty-five percent are women; 22 percent of first-year students are first-generation college students; approximately 32 percent of undergraduates are Pell Grant-eligible; and 23 percent of firstyear students are U.S. students of color (defined as non-white). With regard to the Fall 2017 first-year academic profile, Wittenberg students’ average SAT was 1168, and the ACT was 25; 15 percent were in the top 10 percent of their high school class, and 40 percent were in the top 25 percent. Wittenberg is a testscore optional school. The average entering G.P.A. was 3.4. Wittenberg provides more than $40 million in financial aid each year, and at present, nearly all of Wittenberg’s students receive some type of financial aid in the form of scholarships, grants, and on-campus employment. The average institutional aid package for all new students in 2017-18 amounted to $25,118. Student Expenses for 2018-2019 for a full year is $49,856.
Faculty Wittenberg is home to 119 full-time faculty, 97 percent of whom hold the highest degree in their field. In 2010, The Chronicle of Higher Education named Wittenberg one of the nation’s top producers of Fulbright Scholars among bachelor degree-granting institutions. The University also currently has more Ohio Professors of the Year than any other four-year institution in the state. Regular faculty members teach 78% of all courses, which account for 76% of all student credits generated. From day one on campus, students are exposed to these gifted scholar-teachers in small-class settings. The work is designed to be challenging, but faculty members remain close, and the great majority of students develop a relationship with a professor as a mentor, or even a friend. The most popular majors taught by Wittenberg’s esteemed faculty currently include biology, business, communication, psychology, and education. Faculty also lead several off-campus academic options for students, including a marine biology/freshwater ecology program in the Bahamas, the African Studies/ community service program in the South African Kingdom of Lesotho, the Wittenberg in Wittenberg, Germany program, the Lutheran College Washington, D.C. Semester Program, and a new opportunity in Costa Rica designed with student-athletes in mind, among other hands-on learning experiences.
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AT H L E T I C S
At Wittenberg, one-third of students participate in varsity athletics, playing for one of Wittenberg’s 24 varsity sports teams – 12 for men and 12 for women – with another women’s sport slated to start in Fall 2018 (women’s water polo). A member of the nationally renowned Division III North Coast Athletic Conference, which consists of 10 academically selective colleges and universities in Ohio, Pennsylvania, and Indiana, Wittenberg on average sends four teams per year into national championship competition. In 2017, the Tigers won the men’s national championship in golf. Intramurals are also popular among students, and club sports, including ice hockey and rugby are available. Intramural participation helps to underscore Wittenberg’s commitment to fitness and a healthy lifestyle. To reaffirm its tradition of excellence in developing the whole person and in athletics, the University is currently constructing a $52.8 million Health, Wellness and Athletics (HWA) facility. Through the combination of outstanding academic programs, competitive athletics and diverse recreational opportunities, the HWA is expected to support the campus and the community of Springfield, as well as recruitment, retention and student success. Groundbreaking took place on March 24, 2017. W I T T E N B E R G
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COMMUNITY
Located in Springfield, Ohio, (pop 62,000) and less than an hour away from Columbus and Dayton, and an hour and a half from Cincinnati, Wittenberg University is proud of its longstanding relationship with the city it calls home. In terms of Wittenberg-specific connections, the University currently partners in town with Clark State Community College on a joint nursing program and recently signed agreements with Mercy Health to manage its student health services and explore other collaborative efforts. In addition, and as mentioned earlier, through the University’s Hagen Center, students have the opportunity to engage with the Springfield community in community service, student employment, academic internships, service-learning courses and applied research. Fifteen interns are hired each summer to conduct focused projects on the Hagen Center’s key initiatives: strengthening after-school programs, preventing teen pregnancy, renewing areas of downtown Springfield and Buck Creek, improving housing quality and growing a greener Springfield.
ALUMNI
More than 24,000 strong, Wittenberg alumni are passionate about their educational experience, often citing faculty with whom they still remain friends long after graduation. To assist the University in understanding the needs and expectations of alumni, the Wittenberg Alumni Board was established to oversee the Alumni Association, of which all graduates are automatically members. The Alumni Board currently has 22 alumni spanning multiple class years, and the group regularly assists in supporting alumni programming, fundraising and recruitment, strategic planning, and in building affinity with current students for the institution. Among Wittenberg’s most notable graduates are: Sherwood Anderson, writer, James Rebhorn, award-winning actor; Ronald Li, founder of the Hong Kong Stock Exchange; John McLaughin, former deputy director of the CIA; Sheila Simon, Lieutenant Governor of Illinois; Jennette Bradley, former Lieutenant Governor of Ohio; Elwood Jensen, leading cancer researcher; and Sandy Dukat, Paralympian in skiing.
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FA S T FA C T S
1,914 U N D E R G R A D U AT E S ( 1 , 7 7 0 TRADITIONAL, 81 RETURNING A D U LT S , A N D 6 3 H I G H S C H O O L SCHOLARS)
27 G R A D U AT E S T U D E N T S (MASTER’S PROGRAMS I N AT H L E T I C C O A C H I N G , A N A LY T I C S , A N D E D U C AT I O N )
14:1 U N D E R G R A D U AT E S T U D E N T - T O - FA C U L T Y R A T I O
119 F U L L - T I M E FA C U L T Y ;
245 S TA F F
18 S T U D E N T S AV E R AG E CLASS SIZE
13 COUNTRIES REPRESENTED ON CAMPUS
92%
S T U D E N T O R G A N I Z AT I O N S
O F F I R S T- Y E A R S T U D E N T S
AND CLUBS
LIVE ON CAMPUS
24
99% OF STUDENTS RECEIVE FINANCIAL AID
$49,856 C O S T O F AT T E N DA N C E INCLUDING ROOM AND BOARD FOR 2018-2019
$25,118 AV E R AG E W I T T E N B E RG F I N A N C I A L A I D PA C K A G E
55% FEMALE STUDENTS
45% MALE STUDENTS
23% F I R S T- Y E A R S T U D E N T S OF COLOR
74% OF STUDENTS COME FROM OHIO
ABOUT
100
NCAA DIVISION III VA R S I T Y T E A M S
24,241 ALUMNI WORLDWIDE
3.4 AV E R AG E H I G H S C H O O L G PA O F F I R S T - Y E A R STUDENTS
25 AV E R AG E AC T S C O R E ; 1 1 6 8 AV E R A G E S AT T O TA L S C O R E O F F I R S T- Y E A R STUDENTS
15% O F F I R S T- Y E A R S T U D E N T S ARE IN TOP 10 PERCENT OF THEIR HIGH SCHOOL CLASS; 40 PERCENT IN THE TOP 25 PERCENT OF THEIR HIGH SCHOOL CLASS
11% LUTHERAN STUDENTS
22% F I R S T- Y E A R , F I R S TG E N E R AT I O N C O L L E G E STUDENTS
THE SEARCH FOR A VICE PRESIDENT FOR FINANCE AND ADMINISTRATION
F I N A N C I A L OV E RV I E W
experienced declines in enrollment
This campaign is targeted to increase
In recent years, Wittenberg University has experienced significant turnover in leadership positions including the Presidency and the VPFA.
during the last decade, but these
student scholarships, program support,
have started to rebound in recent
and capital projects that will address
years. Due to its efforts to balance
deferred maintenance.
Like most small liberal arts universities, Wittenberg’s primary source of revenue is tuition. And like all other institutions of higher education, Wittenberg has experienced rapidly rising discount rates. Unfortunately, the University has
the operating budget, the institution increased its endowment spending
Long-term debt currently stands at
to the point that the endowment
$42.4 million, and there are two
has not returned to its pre-2008
capital leases totaling $1.7 million.
market value; however the Board is
With the construction of the new and
committed to continued reduction
restoration of the existing athletic
of the spending level on a consistent
facilities, the University will temporarily
basis. There were a number of years
increase long-term debt by $34 million,
in the past decade in which the
which will provide cash flow to fund
budget provided no salary increases
the construction and be repaid with
for faculty and staff, and reduced
gifts, federal and state tax credits and
benefits, personnel, and operating
outstanding pledges. Current projected
expenses. While budgets have not
cash flows indicate that the institution
been balanced because the institution
can generate adequate cash to service
budgets depreciation, it has positive
the debt. After five years, any unpaid
cash flow.
amount of this loan will likely be refinanced to a longer-term issue.
In response, President Frandsen has mapped out a plan to move the
Additionally, $6 million of the
enrollment from its current 1800+ to
existing long-term debt is being used
2100 by fall 2022. He has also begun
to address some of the deferred
preparations for a comprehensive
maintenance and key initiatives
campaign, something the institution
established in the recently adopted
has not seen in well over a decade.
strategic plan. W I T T E N B E R G
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THE SEARCH FOR A VICE PRESIDENT FOR FINANCE AND ADMINISTRATION
T H E A G E N D A F O R T H E N E W V P FA
The new VPFA’s role includes elements of both leadership and management, where an experienced and creative finance professional can make a significant difference in the life of Wittenberg University. Assuming a contemporary role as the University’s chief fiscal officer, the VPFA will be responsible for the strategic integration of a broad range of financial and business functions. While working as an integral part of Wittenberg’s leadership team, the new VPFA will be expected to communicate positively, candidly, and widely with all members of the University community. In doing so, she/he will accept an agenda that includes:
Partnering with the President An effective vice presidential appointment will include the development of a mutually trusting and affirming relationship with the President, a task made easier by Dr. Frandsen’s own professional experience in finance and administration. As the fiscal challenges of the University continue to evolve, a strong working partnership will be essential for guiding critical decisions about Wittenberg’s future. Moreover, a solid working partnership will reflect the current President’s leadership style of authenticity, sensitivity to points of tension, and openness to constructive dialogue.
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Engaging the Senior Leadership Team While recognizing the fundamental relationship with the President, the new Vice President will occupy a key position on the senior leadership team. Abilities to create collaborative relationships among and between team members to enrich the team’s effectiveness, to communicate transparently with colleagues across the campus, and to respect multiple viewpoints, all while developing sustainable pathways to strengthen Wittenberg’s programs, are all highly desirable.
Strategic Thinking The VPFA will be expected to bring a strategic manner and vision to the current planning efforts at Wittenberg. Taking a proactive role in helping to identify planning priorities, developing goals, and creating financial models will be central to the success of the appointment. Beyond the strategic plan, the Vice President’s ability to be innovative and strategic in generating revenue streams, managing expenditures, and implementing best business practices will also be welcomed. In short, by bringing imaginative solutions to a variety of issues, the new Vice President can make a long-term impact on Wittenberg University.
Financial Management Budget building, monitoring, and execution remain central to this VP’s agenda, as do supervisory responsibility for a wide range of collaborative activity with the Controller’s office and programs of investment, debt, and risk management. In sum, the long-term financial health of Wittenberg will benefit from bringing “outside-in” best practices, innovations from higher education and other sectors, and solid financial acumen to the office.
Organizational Management The new VP will accept responsibility for several administrative areas. In addition to the direct reports in areas indicated above, the Directors of Human Resources, Physical Plant, Student Financial Services, Scheduling and Events, and the Chief of Police are also on the VPFA’s immediate staff. With such a wide scope of responsibilities, the VPFA will need to bring management skills of efficiency with empathy, mentoring with empowerment, and clearly stated expectations with systematic evaluation.
Supporting the Board of Directors The VPFA will continue to assume a key role in staffing and supporting the Board’s engagement in the financial life of the college. Self-management and care for detail will be necessary in the presentation of timely, accurate, and expert financial reports and analysis for the Board of Directors. Helping the Board to be effective through understanding and engagement is a task that will be shared with the President and all members of the senior leadership team.
Engaging the Community The personal manner of the VPFA and her/his ability to nurture genuine relationships on and off campus will be important for this appointment to be effective. The authentic interest in and participation in both communities will be essential in developing an effective presence at Wittenberg and in Springfield.
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D E S I R E D AT T R I B U T E S
• A significant track record of senior
To provide the leadership required in this position, the successful candidate for Wittenberg should be authentic, energetic, creative, collaborative, and proactive.
executive experience in finance,
• Proven skill in developing, managing,
budget, and appropriate higher
and supporting a team of dedicated
education administrative areas,
professionals;
The successful VPFA will possess deep integrity, an outstanding work ethic, and an appreciation of diversity. Preference will be given to those with a master’s degree or higher in Business Administration, Finance, or Accounting. A background in higher education and a CPA are also desired. Competitive candidates should bring the following attributes:
preferably in an organization of relevant size and complexity;
• A “doer” who will thrive on accomplishing objectives in a
• Strong business acumen with
timely and graceful manner, while
a proven track record of data-
motivating others to do the same;
informed decision-making; • An individual who can be trusted and • Particular strength in managing
is trustworthy, who demonstrates
capital and building projects in
this by listening carefully and
order to successfully complete
communicating with clarity, energy,
the new HWA facility and
and inspiration; and
other future projects; • A person who will bring imagination • Evidence of success in building
in their thinking about how things
strong working relationships with
can work and who can help others
colleagues – the President, senior
develop creative approaches to
leadership team, Board of Directors,
problem solving.
faculty, staff, and students; • A person who manages in a collaborative manner with all constituents to ensure an understanding of financial, budgetary, and related issues, and of University-wide priorities; W I T T E N B E R G
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T H E A P P L I C AT I O N P R O C E S S The VPFA Search Committee will accept applications and nominations on a rolling basis over the mid-winter and early spring, and will begin to narrow the candidate pool in late March. Although applications will be accepted until a new Vice President is appointed, candidates should submit materials by 5 p.m. on Friday, March 23, for the most favorable consideration. The new VPFA will be invited to begin work in the summer of 2018. Thomas B. Courtice is assisting with this search. Nominators and prospective candidates may contact him at tom.courtice@gmail.com. Application materials should be submitted electronically to: Mary Jo Zembar & Adam Parker, Co-Chairs VPFA Search Committee WittVPFA@tbcsearchconsulting.com Materials should include a letter of candidacy responding to the Agenda for the New VPFA, a CV or resume, and the names and contact information (email and phone) for three preliminary references, none of whom will be contacted until a later stage of the search and not without the permission of the candidate. All inquiries and applications will be received and evaluated in full confidence. Wittenberg is committed to attracting and retaining highly qualified individuals who collectively reflect the diversity of our student body and society at-large. Please see our notice of nondiscrimination housed on the University’s website.
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