Tag Archives: Finances

p. 335 – The Barnett Period, 1962-1969

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Economics Department which had been located there since 1962. A French study group at the University of Dijon also was instituted by the Department of Romance Languages in 1966. The Argentina study program had been formally terminated in 1964.

While the faculty was taking final action on curriculum and calendar revision, the Trustees, at President Barnett’s suggestion, established a Long-Range Planning Committee to examine the basic purposes of the University and set up ways and means for meeting them. It was composed of faculty, administrators, and Trustees-several being also alumni. It held the first of its periodical meetings in September, 1963, and was put on a continuing basis in 1965.

Hardly had the committee begun its work when the Ford Foundation invited Colgate to apply for a special grant. To qualify for consideration the University had to submit a ten-year projection specifying goals and how they might be reached; in preparing the document the President and his associates drew heavily on the work of the committee. On the basis of this presentation the Foundation awarded Colgate $2,200,000 contingent on raising matching funds of $6,600,000 over a three-year period ending in June 1967. Following notification of the grant, the Trustees adopted a set of financial objectives embodying long-range needs which were incorporated into a specific campaign goal of $23,000,000 to be reached by the 150th anniversary of Colgate’s founding, in 1969. By the end of December, 1966, more than six months prior to the deadline for the Ford Grant, over $6,800,000 had been received as against the required $6,600,000. Toward meeting the over-all goal of $23,000,000 approximately $21,-290,000 had been received by the fall of 1968. Included among the gifts were endowed professorships in literature and American institutions from Mrs. Olive B. O’Connor and in international relations from Mrs. Evelyn Picker. The Sloan Foundation gave $400,000 to strengthen the science program in such ways as addition of new faculty, technical assistance, Sloan Research Fellowships, travel, and acquisition of new equipment. The Charles A. Dana Foundation made a grant of $250, 000 to be added to endowment and which, when matched with a like amount from the University, would constitute a fund of $500,000 the income from which was to be used for four “supported professorships”; i.e., the income would permit a differential above the average salary levels for professors chosen by the University. The Dana Foundation

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p. 321 – The Case Administration, 1942-1962

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Dean of Students, Kallgren, Dean of the College in 1943 to enable him to assume some of the President’s functions since Mr. Case often had to be away from the campus. The office of Assistant to the President was also established in 1943 and F. Reed Alvord, ’31, appointed to it; in 1945 he became Secretary of the University as well. To collect and preserve the University’s records and to supply information from them, Howard D. Williams, ’30, a member of the History Department, was appointed Archivist in 1947. The office of Dean of Faculty, abolished in 1934, was revived in 1945 with the appointment of Sidney J. French, Professor of Chemistry. The mounting burden of arranging for financial assistance and scholarships led to the creation of the position of Director of Student Aid to which William F. Griffith, ’33, was named in 1945; by 1957 he had become Dean of Admissions and Student Aid and was made Dean of Students a year later. The position of Vice-President for Development was established in 1958 and filled by Howard L. Jones, ’39, who had been Director of Development. Facilitating the work of these and other officers were the regular Administrative Staff meetings for discussion of problems and procedures which President Case instituted in 1942. Miss Gertrude E. Edgarton became the President’s Secretary also in 1942.

Anticipating the University’s post-war requirements, Mr. Case in 1943 appointed a faculty Committee on Needs and Resources and encouraged the Trustees and the Alumni Corporation to select similar groups; all three would cooperate in establishing a priority schedule of needs and canvass possible sources for meeting them. From this nucleus evolved the Development Council and the organization of a Development Office for which F. Gordon Boyce, ’39, became executive officer in 1946. Meanwhile, the annual Alumni Fund, thanks to the efforts of Carlton O. Miller, ’14, Alumni Secretary, and alumni workers throughout the country, had greatly increased goals which were met, making this resource most important in financing the University. Rapidly spiraling costs of all kinds gave special urgency to fund raising. With the blessing of the Committee on Needs and Resources, a successful drive was launched in 1947 to raise $250,000 for a Colgate infirmary and the Hamilton hospital. The most important single accomplishment was the Development Campaign begun in 1956 with an objective of $3,300,000 for raising faculty salaries, building a new library and an athletic center, and meeting operating costs of the

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p. 290 – The Cutten Period, 1922-1942

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DR. ALFRED E. ALTON, ’02
DR. ALFRED E. ALTON, ’02
RAYMOND E. BROOKS, ’06
RAYMOND E. BROOKS, ’06

the University and the Union of the two seminaries as the Colgate Rochester Divinity School became possible. The merger was achieved in the summer of 1928 after all formalities had been completed. No longer would the two institutions compete for funds and students; savings could be accomplished by eliminating the duplication of ad-ministration, facilities and faculty; and a greatly improved curriculum could be offered, especially because the Rochester location would enable the faculty to use “clinical material” for training prospective urban pastors, and also make available courses on the graduate level at the rapidly expanding University of Rochester. Instead of two declining Baptist seminaries there was one strong one admirably fitted to educate young men for the ministry. Henceforth, Colgate was to be a non-denominational college devoted solely to the liberal arts.

Among the first areas to receive Dr. Cutten’s attention was finances. James C. Colgate told him the Trustees would be responsible for raising funds; the President concentrated on balancing the budget. By 1924 he had reduced the annual deficit, which had become an item of long standing and which was $34,000 in 1923, to $286.79. This accomplishment without doubt gave Mr. Colgate genuine satisfaction which the record thereafter sustained since no further deficits appeared in the Cutten administration. Making up deficits, which had totaled nearly $700,000 since the 1890’s, Mr. Colgate had come to regard as

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p. 266 – The Bryan Period, 1908-1922

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Dr. Albert Perry Brigham, Bio Files, p266Dr. William Newton Clark, '61, Bio File, p266Prof. Melbourn S. Read, Bio File, p266

 

 

mained an effective bar to Foundation approval. Dr. William M. Lawrence resigned as President of the Board in 1912 to accept the Lectureship in Christian Ethics in the Seminary. Sidney M. Colgate, one of the sons of the late Samuel Colgate and a member of the family soap company, succeeded him. Following Mr. Colgate’s resignation in 1921, his cousin James C. Colgate, became President and was to remain active in that position until 1935.

University finances do not seem to have given President Bryan much worry since he regarded this area of operations as Trustees’ domain. Income during his term increased from $76,000 at the beginning to $231,000 at its conclusion, while expenditures rose from $97,000 to $266,000. A growing enrollment meant additional tuition income but at the same time raised the operating costs. This situation, in part, explains the regular deficits which ranged from a low of $38,000 in 1911 to a high of $66,000 in 1918. All of them James C. Colgate made up with assistance from his mother and sister but, tiring of this practice, he had a budget system instituted in 1921 to provide greater control of expenses. This innovation must have contributed to the reduction of the deficit from $58,000 in 1920 to $26,000 in 1922. The

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James B. Colgate passes away (p. 244)

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acknowledge he had much to learn about educational matters and willing to accept the judgment of the Dean and others.

Dr. Merrill had a clear picture of the University’s finances and sought to improve them. Despite the income from the Dodge Fund there were annual deficits ranging from $22,000 in 1899 to $42,000 in 1908. Of the three divisions of the University, the College accounted for the largest percentage of loss which reached $21,000 in 1908. This increase is explained in part by growth in College enrollment from 151 in 1899 to 287 in 1908 accompanied by more tuitions remitted and additional expenditures for faculty salaries and for maintenance of buildings and grounds. The tuition of $60.00 was much lower than that in most colleges in the east and none was charged in the Seminary; that for the Academy was $45.00. As he had done for the past several years, James C. Colgate made up the deficits, contributing over $300,000 from 1899 to 1908. Meanwhile, the endowment, excluding the $1,000,000 Dodge Fund, grew from nearly $556,000 to $695,513 in 1908.

The University’s munificent patron, James B. Colgate, died at the age of eighty-five in 1904 not long after he had made his last large gift of $100,000 for endowment. In attempting to arrive at a summary of Mr. Colgate’s chief benefactions, admittedly incomplete, Dr. Merrill estimated that they totalled over $1,700,000. Gratefully acknowledging them, he pointed out to the Trustees, none-the-less, that the University would need many friends and many large donations to keep its standing at a time when most of the nation’s colleges were expanding rapidly. On James C. Colgate’s declining to become his father’s successor as Trustee President, the Rev. William M. Lawrence, Class of 1870, was chosen. Formerly pastor of a large Baptist Church in Chicago, where he had a prominent part in founding the University of Chicago, he was an active alumnus and in 1905 had become pastor of the North Orange, New Jersey, Baptist Church.

Dr. Merrill demonstrated a Hair for what later generations would call public relations. He felt that the advantages and needs of the University should be advertised as widely as possible. He traveled extensively to speak before secondary schools, churches and religious groups. Alumni relations he regarded as especially significant and he not only met with alumni clubs but encouraged the forming of new ones. He printed his annual “President’s Report” and mailed it to

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p. 221 – Colgate in the 1890’s

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President George W. Smith, 1895-97, Presidential Photographs (Artificial Collection), p221

public lectures for the recently established University Extension Program were all, no doubt, contributing factors toward his breakdown.

During the latter part of Smith’s, presidency, Professors Crawshaw and Brigham had jointly shared the duties of the office, amicably and harmoniously. From 1897 to 1899 Crawshaw was Acting President and in 1897 also he was made Dean, a position he was to fill with great distinction for 33 years. Though the double load from 1897 to 1899 was a heavy one, the generous support which James C. Colgate gave enabled him to carry the burden.

The Seminary, too, experienced administrative change. Professor William H. Maynard was made its first-Dean in 1891. He resigned in less than three months to be succeeded by the saintly and beloved Professor Hezekiah Harvey who served until his death in 1893. Professor Sylvester Burnham followed him from 1893 until 1913. In each instance these men continued their teaching while serving as Dean.

Reorganization in ‘the Treasurer’s Office included the resignation of William R. Rowlands in 1896 and the appointment of William M. West, President of the Hamilton bank, as his successor. Bookkeeping was modernized to provide closer supervision of accounts and, beginning in 1890, Treasurer’s Reports were published annually for distribution to the Trustees.

For all but two years during the period, 1890 to 1899, the accounts showed yearly deficits, often running to’ as much as $35,000. James B.

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p. 149 – Recovery and expansion, 1850-1869

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Old President’s House
Picture of house

experience. Knowing, however, that he already had the nod from the New York City Trustees and the sanction of dominant local sentiment, Dr. Eaton accepted the Board’s selection. The President-elect magnanimously sought him out, the morning after his public statement, to tell Eaton that he admired his frankness and was confident they could cooperate for the best interest of the University.

Finances from 1850 to 1869 are perhaps a more graphic index of the University’s recovery and progress than its administration. With the settlement of the Removal issue there were liabilities of over $30,000 and no funds. Professors Eaton and Spear and Treasurer Alvah Pierce of the Education Society at once set to work trying to raise the $60,000 endowment decided on in May 1850. They began in Hamilton where the residents subscribed approximately $21,000 with Professor Spear and his father jointly heading the list with $2,200 and Deacons Pierce and William Cobb with $2,000 each. Before classes resumed in the fall, Eaton and Spear conducted a two-and-a-half-week campaign among New York City Baptists. Starting with Deacon William Colgate, at whose gracious home they were “nicely domiciled,” they interviewed other friends and addressed public meetings, often encountering Professor Raymond, John N. Wilder and others who were competing with

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p. 110 – The removal controversy, 1847-1850

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funds for the University because the impression was current that the professors lacked piety “& that their ladies pattern too much after the vain & fashionable of the world in the manner & expense of their parties.”

Noteworthy as these personal and social irritations are as background for the Removal Controversy, they are overshadowed by financial matters. When the University Trustees first met in 1846, they had “a charter to sustain the dignity of a University but not a dollar of invested capital.” The Education Society had failed to obtain funds and carried a $20,000 debt. In the First Compact the University Board had agreed

to make earnest and extended efforts for the collection of an endowment sufficiently large, to exempt [the University] from the necessity of continued appeals to the Churches, but never so increased as to foster inaction in the Faculty, or independence of the Churches.

Their goal was $50,000, half of the income to be expended for the theological professors’ salaries and the remainder for general instruction. Nothing had been accomplished, however, by the time agitation for removal began.

The constantly depleted treasury had borne heavily on the faculty, who were not content to accept the frugal standard of living of their predecessors two decades before. Particularly vexatious was the inability of the Treasurer to pay them promptly at the end of each quarter. Professor Raymond, for example, was sometimes paid in $5.00 driblets. In 1847 the University Board raised the salary scale to $1,000 per year for theological professors and $800 for those in the collegiate department, but there was no assurance that these promises could be kept consistently.

The tide of dissatisfaction might have been stemmed had Nathaniel Kendrick been a younger man and in good health. His influence in the faculty, so significant in the past, had given way gradually before the energy and iniative of his colleagues, the oldest of whom, Conant, was his junior by twenty-six years. Though they greatly respected the venerable Nestor, some of these younger men were restive and discontented. In the Education Society, also, Dr. Kendrick ceased to be active because of the illness which confined him to his bed from 1845 until his death three years later. He and his generation were becoming historical figures. Deacon Olmstead died in 1842 and Samuel and

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p. 95 – Administrative problems and incorporation, 1833-1846

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Seneca B. Burchard, Alumni Files, p95

 

over the finances with care and took a leading part in the work of the Executive Committee.

Throughout the 1830’s and late into the next decade Dr. Kendrick continued as Corresponding Secretary. After 1840, administrative duties occupied so much of his time that he had turned over to Professor Maginnis. most of his work as professor of systematic and pastoral theology. The Reports of the Board, circulars, and other articles from his pen in the hospitable pages of the Baptist Register and other denominational journals were perhaps the Society’s most effective advertising. Of all the members of the Board, he had the most thorough understanding of its activities and problems.

Financial questions proved by far the most serious and trying with which the Board had to deal. From 1833 to 1846 annual expenditures

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p. 24 – Administration, setting and staff, 1820-183

Posted on April 27, 2012 by | Leave a comment

Filston Hall, p024

 Filston Hall, ancestral home of Colgate family near Sevenoaks, Kent, England

almost exclusively to “reform movements” within his own denomination or to those in which Baptists had a direct interest, such as Bible translation. Annually he gave a tenth or more of his income to the church and other charities.

Genuinely concerned for the welfare of the Seminary at Hamilton, Deacon Colgate cultivated in other people an interest in the institution. His wife, Mary, and Sarah, his daughter, assisted the women’s auxiliary societies of New York to collect money for the treasury and furnishings for student rooms. His sons, James B. and Samuel, after their father’s death in 1857, were to carry on nobly the family tradition in education which he had begun. The hospitable Colgate home was the usual stopping place for Kendrick, Hascall, and other Hamilton Baptists when they were in New York. The shrewd advice which their host must have given them on denominational and financial questions as well as the credit he often extended to the harried Treasurer of the Education Society made William Colgate its preeminent patron.

The Institution’s financial history resembles that of most early American colleges which frequently ran deficits and were enabled to continue their work only through heroic sacrifices by their officers, faculties,

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Posted in Administration Setting and Staff 1820-1833, Chapter 2, p. 24

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