Monday, January 9, 2017

Shortfall Hits $112 Million At Dartmouth - Rick Jurgens, Valley News

With its blue-chip roster of alumni, 10-figure endowment and annual high-school senior scrum for admissions, Dartmouth College seems stable and on course. But as 2016 comes to a close, the leaders of Dartmouth find themselves navigating some rough financial waters. The college, which was founded 247 years ago, posted a net operating loss of $112 million during the fiscal year that ended June 30. A year earlier, the college experienced a $15.2 million loss. Dartmouth — as is the case with its distant relation, Dartmouth-Hitchcock, the Lebanon-based health system — happens to be in a sector that is “undergoing really transformational change,” Mills said. “It’s not mismanagement at these institutions that are making us anomalous poor performers.”

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