Gardner-Webb Takes Steps to Strengthen Financial Position

Addressing Projected Needs for the University’s Long-term Mission

Gardner-Webb University implemented a series of budget and organizational changes designed to address approximately $6.7 million in financial needs over the next few years and strengthen the University’s financial position for the future. 

Gardner-Webb ended the last fiscal year with an approximately $2 million deficit. That result, combined with the University’s financial forecasts, demonstrated the need to make adjustments now rather than continue addressing financial challenges on a year-to-year basis.

The changes included reductions in operating expenses, holding select vacant positions, organizational realignment, and staffing reductions affecting 14 employees across the University. These decisions were difficult because they affected valued members of the Gardner-Webb community who have contributed to the University and its students. Essential functions associated with the impacted positions will continue to be supported within a new organizational structure.

Like many colleges and universities, Gardner-Webb is navigating a changing higher education environment marked by demographic pressures, changing enrollment patterns, rising operating costs, and increasing pressure on affordability. Gardner-Webb recognizes these realities and is addressing them directly and proactively, taking steps to better align expenses with revenues and position the University for long-term sustainability.

University leadership has implemented new financial forecasting tools that provide a clearer picture of anticipated revenues and expenses and allow for more data-informed, proactive decisions about the University’s financial position. The steps taken are intended to strengthen Gardner-Webb’s financial health by bringing expenses and anticipated revenues into better alignment.

The University also recognizes that it cannot cut its way to long-term success. Gardner-Webb will continue pursuing enrollment growth and student retention, increasing philanthropic support, developing partnerships, identifying new sources of revenue, and making strategic investments that support the University’s mission, student experience and future.

These changes are not expected to disrupt students’ current academic experience. Classes, current courses and schedules will remain the same, and scholarships and financial aid currently awarded to students will not be reduced or changed as a result of these changes.

Gardner-Webb has a storied history and a strong future. For more than 120 years, the University has adapted to changing circumstances while remaining committed to its mission and its students. These actions reflect responsible stewardship of the University’s resources and are intended to create a stronger foundation for Gardner-Webb to adapt, grow, and faithfully fulfill its mission as it builds toward its next century of service and impact.

Additional details can be found at the following FAQ section.

Gardner-Webb University is North Carolina’s recognized leader in private, Christian higher education. A Carnegie-Classified Doctoral/Professional University, GWU is home to nine colleges and schools, more than 80 undergraduate and graduate majors, and a world-class faculty. Located on a beautiful 225-acre campus in Boiling Springs, N.C., Gardner-Webb prepares graduates to impact their chosen professions, equips them with the skills to advance the frontiers of knowledge, and inspires them to make a positive and lasting difference in the lives of others. Become More at gardner-webb.edu.