Strategic Planning

Foundation 3. Stewardship of Resources

In order to achieve its strategic vision, Union College must provide wise stewardship of its resources. Our capacity to educate young people and compete with the finest liberal arts colleges in the country will depend, to a very large degree, on our ability to preserve and enhance our vital resources. These resources are financial, material, and human. Thanks to careful stewardship and effective investment strategies, Union’s endowment has grown impressively in recent years. While the College remains tuition-dependent, its endowment revenues have become increasingly important to the support of the annual budget. Endowment income supports critical programs and services as well as acting as a hedge against tuition increases. Union’s campus, the first in the nation to be designed with a comprehensive master plan, is one of the College’s greatest assets and needs to be preserved. Union boasts an accomplished faculty and dedicated staff. Attracting and retaining these human resources is critical to the College’s ability to realize its strategic aspirations. Finally, the College must demonstrate responsible use of consumable resources to ensure sustainability.

  • Strategy: Enhance growth of the endowment.

    In order to realize enhanced growth in the endowment and ultimately endowment income, the College will accelerate plans to reduce the draw to levels that are in line with those of peer institutions.

  • Strategy: Reinvest in facilities.

    The College will continue to preserve its campus assets. The first step will be the completion of a facilities master plan to guide decisions and prioritize reinvestment. We will ensure that there is appropriate funding to cover deferred maintenance.

  • Strategy: Ensure that faculty and staff salaries and benefits remain competitive.

    The College will strive to provide competitive levels of compensation for its faculty and staff and recognize their meritorious accomplishments.

  • Strategy: Invest in sustainability.

    A strategic focus on sustainability carries a number of benefits that support the bottom line, including energy efficiency. Investments in sustainable architecture can have very short pay-back periods. Like many other organizations, the College will find that sustainability makes good economic sense.

    Sustainability is not merely a strategy for reducing the long-term costs of operating the campus; it will also turn the campus into a teaching tool. As we develop enhanced programs in environmental studies, environmental science, and environmental engineering, students and faculty can focus on monitoring our progress and developing new efficiency measures. Current and prospective students, alumni, and others will appreciate our efforts to create a more efficient campus with a smaller environmental footprint.