Can Goddard Survive? - Greg Toppo, Inside Higher Ed

In fiscal year 2018, the most recent available, Goddard reported $9.6 million in total revenue. Of that, $8.2 million came from net tuition, fees and housing, totaling about 85 percent of revenue. It reported a $646,975 deficit. The college in 2017 borrowed $2.1 million to build a wood-chip plant, unveiled last November, that heats much of the campus. It replaces 23 oil-burning heaters, the college said. Goddard's tiny $1.3 million endowment, created less than a decade ago, provided little income last year. In its most recent financial disclosure, the college's auditors noted the deficit -- the previous year it totaled $116,581 -- and said a "steep decline in operating cash flow, as well as the loss in current year operations, can be attributed to steadily declining tuition revenue. Given this decline in the college's cash flow, there is substantial doubt about the college's ability to continue as a going concern." https://www.insidehighered.com/news/2019/04/02/new-president-place-goddard-plots-path-out-probation