Financial Health

Funding our Future

At a time when some credit rating agencies have been publishing mixed opinions for higher education, Fordham’s finances are stable—and stronger than ever.

Two of the world’s biggest credit rating agencies, Moody’s Investors Services and Standard & Poor’s Global Ratings (S&P), have validated Fordham’s financial health and its culture of operational excellence and continuous improvement.

Last year, Moody’s and S&P affirmed their high ratings of Fordham as the University prepared to issue bonds to renovate and expand the campus center at Rose Hill, a project that will cost an estimated $205 million.

Highlights of S&P’s and Moody’s Rating Assessments of Fordham:
  • Solid enrollment growth and strong student quality

  • Consistent positive operating performance year after year
  • Prudent management, with success in implementing multiyear strategies and responding to external changes

  • Robust donor support, with three-year average annual gifts of more than $65 million (well above a peer median of $23 million, according to Moody’s)

In a separate report published by S&P in September 2019, the agency upgraded its outlook on Fordham’s financial strength.

Specifically, S&P noted the University’s recent improvements in available resources and operating results, including growth in cash and investments to a “record level,” and recognized the success of Fordham’s enrollment strategy to continue to improve its academic profile in a highly competitive market.

“These are overwhelmingly positive results for Fordham,” said Martha K. Hirst, senior vice president, chief financial officer, and treasurer. “They affirm that our efforts are focused in the right areas and that we are well positioned to meet the headwinds facing higher education in these challenging times.”

“They affirm that our efforts are focused in the right areas and that we are well-positioned to meet the headwinds facing higher education in these challenging times.” Martha K. Hirst, SVP, CFO, and Treasurer
a 50-year record of consistency

Fordham’s 2019 fiscal year, which concluded on June 30, 2019, marked the 50th straight year in which the University achieved an operating surplus.

Sustained Excellence in Fundraising

The Council for Advancement and Support of Education (CASE) recognized Fordham last summer with a 2019 Educational Fundraising Award. The award, based on a blind analysis of three consecutive years of fundraising data, honors programs for sustained excellence. It places Fordham’s advancement effort among the top 90 at U.S. colleges and universities.

Fordham received the award shortly before exceeding its goal of raising $175 million through Faith & Hope | The Campaign for Financial Aid.

Investing in the Student Experience

The campus center renovation and expansion project, scheduled to be completed by 2025, will be the centerpiece of a fundraising campaign devoted to wellness, financial aid, athletics, STEM facilities, and other aspects of the student experience.

10-Year Growth: 2009-2019
  • The University’s endowment—$734 million as of June 30, 2019—accounts for a significant portion of total investments ($852 million). In the past 10 years, the endowment has grown 122% while also providing essential funding for scholarships, academic support, and critical initiatives.

2019 SPENDING ACTIVITY | Derived from the endowment

$13 Million – Scholarships

$8 Million – Funding Academic Support

$9 Million – Other Expenditures for Facilities and Programs

Total: $30 Million


Select financial information for the fiscal year that ended June 30, 2019

Total Assets – $2 Billion

Total Liabilities – $631 Million

University Investments (Market Value) – $852 Million