> Skip to content
FEATURED:
  • Public Perception of College
Sign In
  • News
  • Advice
  • The Review
  • Topics
    • Data
    • Diversity, Equity, & Inclusion
    • Finance & Operations
    • International
    • Leadership & Governance
    • Teaching & Learning
    • Scholarship & Research
    • Technology
    • The Workplace
    • Data
    • Diversity, Equity, & Inclusion
    • Finance & Operations
    • International
    • Leadership & Governance
    • Teaching & Learning
    • Scholarship & Research
    • Technology
    • The Workplace
  • Current Issue
  • Virtual Events
  • Store
    • Featured Products
    • Reports
    • Data
    • Collections
    • Back Issues
    • Featured Products
    • Reports
    • Data
    • Collections
    • Back Issues
  • Jobs
    • Find a Job
    • Post a Job
    • Career Resources
    • Find a Job
    • Post a Job
    • Career Resources
Sign In
  • News
  • Advice
  • The Review
  • Topics
    • Data
    • Diversity, Equity, & Inclusion
    • Finance & Operations
    • International
    • Leadership & Governance
    • Teaching & Learning
    • Scholarship & Research
    • Technology
    • The Workplace
    • Data
    • Diversity, Equity, & Inclusion
    • Finance & Operations
    • International
    • Leadership & Governance
    • Teaching & Learning
    • Scholarship & Research
    • Technology
    • The Workplace
  • Current Issue
  • Virtual Events
  • Store
    • Featured Products
    • Reports
    • Data
    • Collections
    • Back Issues
    • Featured Products
    • Reports
    • Data
    • Collections
    • Back Issues
  • Jobs
    • Find a Job
    • Post a Job
    • Career Resources
    • Find a Job
    • Post a Job
    • Career Resources
  • News
  • Advice
  • The Review
  • Topics
    • Data
    • Diversity, Equity, & Inclusion
    • Finance & Operations
    • International
    • Leadership & Governance
    • Teaching & Learning
    • Scholarship & Research
    • Technology
    • The Workplace
    • Data
    • Diversity, Equity, & Inclusion
    • Finance & Operations
    • International
    • Leadership & Governance
    • Teaching & Learning
    • Scholarship & Research
    • Technology
    • The Workplace
  • Current Issue
  • Virtual Events
  • Store
    • Featured Products
    • Reports
    • Data
    • Collections
    • Back Issues
    • Featured Products
    • Reports
    • Data
    • Collections
    • Back Issues
  • Jobs
    • Find a Job
    • Post a Job
    • Career Resources
    • Find a Job
    • Post a Job
    • Career Resources
Sign In
ADVERTISEMENT
News
  • Twitter
  • LinkedIn
  • Show more sharing options
Share
  • Twitter
  • LinkedIn
  • Facebook
  • Email
  • Copy Link URLCopied!
  • Print

‘A Dramatic and Unprecedented Contraction’: A Look Inside a $375-Million Budget Shortfall

By  Audrey Williams June
May 19, 2020

These days, college leaders have been delivering an unmistakable message about the new coronavirus’s effect on institutional finances: Things are bad and likely to get worse.

The Johns Hopkins University forecast net losses for the next fiscal year to be as much as $375 million. The president, Ronald J. Daniels, also provided an unusually detailed picture of the scope of the challenges that the coronavirus has presented to his institution’s finances.

We're sorry. Something went wrong.

We are unable to fully display the content of this page.

The most likely cause of this is a content blocker on your computer or network.

Please allow access to our site, and then refresh this page. You may then be asked to log in, create an account if you don't already have one, or subscribe.

If you continue to experience issues, please contact us at 202-466-1032 or help@chronicle.com

These days, college leaders have been delivering an unmistakable message about the new coronavirus’s effect on institutional finances: Things are bad and likely to get worse.

The Johns Hopkins University forecast net losses for the next fiscal year to be as much as $375 million. The president, Ronald J. Daniels, also provided an unusually detailed picture of the scope of the challenges that the coronavirus has presented to his institution’s finances.

“The magnitude of the challenges we face is unlike any we have experienced in recent memory,” Daniels recently said in a statement. The university, he said, was experiencing “a dramatic and unprecedented contraction.”

Daniels also outlined a three-phase plan to mitigate losses, which includes cutting the salaries of top leaders, restricting new hires, and suspending contributions to employees’ retirement accounts. Here’s a closer look at some of the key areas of financial loss, and how Hopkins hopes to respond.

We welcome your thoughts and questions about this article. Please email the editors or submit a letter for publication.
DataFinance & Operations
Audrey Williams June
Audrey Williams June is the news-data manager at The Chronicle. She explores and analyzes data sets, databases, and records to uncover higher-education trends, insights, and stories. Email her at audrey.june@chronicle.com, or follow her on Twitter @audreywjune.
ADVERTISEMENT
ADVERTISEMENT
  • Explore Content
    • Latest News
    • Newsletters
    • Letters
    • Free Reports and Guides
    • Professional Development
    • Virtual Events
    • Chronicle Store
    • Chronicle Intelligence
    • Find a Job
    • Post a Job
    Explore Content
    • Latest News
    • Newsletters
    • Letters
    • Free Reports and Guides
    • Professional Development
    • Virtual Events
    • Chronicle Store
    • Chronicle Intelligence
    • Find a Job
    • Post a Job
  • Know The Chronicle
    • About Us
    • Write for Us
    • Work at The Chronicle
    • Our Reporting Process
    • Advertise With Us
    • Brand Studio
    • DEI Commitment Statement
    • Accessibility Statement
    Know The Chronicle
    • About Us
    • Write for Us
    • Work at The Chronicle
    • Our Reporting Process
    • Advertise With Us
    • Brand Studio
    • DEI Commitment Statement
    • Accessibility Statement
  • Account and Access
    • Manage Your Account
    • Manage Newsletters
    • Individual Subscriptions
    • Institutional Subscriptions
    • Subscription & Account FAQ
    Account and Access
    • Manage Your Account
    • Manage Newsletters
    • Individual Subscriptions
    • Institutional Subscriptions
    • Subscription & Account FAQ
  • Get Support
    • Contact Us
    • Reprints & Permissions
    • User Agreement
    • Terms and Conditions
    • Privacy Policy
    • California Privacy Policy
    • Do Not Sell My Personal Information
    Get Support
    • Contact Us
    • Reprints & Permissions
    • User Agreement
    • Terms and Conditions
    • Privacy Policy
    • California Privacy Policy
    • Do Not Sell My Personal Information
1255 23rd Street, N.W. Washington, D.C. 20037
© 2023 The Chronicle of Higher Education
  • twitter
  • instagram
  • youtube
  • facebook
  • linkedin