Rider University Chapter of the AAUP
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    • I - Name
    • II - Purpose
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    • IV - Dues
    • V - Chapter Officers
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    • VII - Election of Officers
    • VIII - Removal of Officers
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    • XIII - Amendments
  • Saving WCC
    • Decision on Standing Lawsuit
    • AAUP Response to Provost Fredeen's October 2nd Email
    • Important Information on Campus Consolidation
    • Chinese Company Out As Buyer Of Westminster Choir College
    • Kaiwen is Gone
    • Kaiwen Education Reply to a June 2019 Inquiry from the Shenzhen Stock Exchange
    • Update on Kaiwen Education's Financial Status
    • Arbitration Over Layoffs at WCC
    • Kaiwen Education 2018 Annual Report
    • By Federal Reserve Standards Kaiwen Education is a Highly Leveraged and Risky Business
    • Two Updates on Kaiwen's Finances
    • Due Diligence and Kaiwen Education
    • Chronology of a Crisis
    • WCC Reset
    • New Jersey Attorney General’s Office Delivers Major Setback to Rider University’s Plan to Sell Westminster Choir College
    • Westminster Foundation Press Release on AG Investigation
    • Purchase Agreement
    • Faculty Shocked to Learn Secret Agreement Would Allow Buyer to Close Westminster Choir College
    • Universities as the Guardians of Assets
    • Press Release Kaiwen Finances
    • 2019 Report on Kaiwen
    • DejaVuDellOmo
    • Kaiwen Announcement 1/11/19
    • AAUP Goes to the NJ Assembly
    • Sign the Petition to Save WCC
    • WWCAC Letter November 8 2018
    • Kaiwen Education: Report on Company Performance Through the Third Quarter 2018
    • New Information Reveals Chinese Corporation Plans to Take $20 Million Westminster Choir College Endowment despite Prohibitions Imposed by State/Federal Law
    • More Bad News about Kaiwen
    • Claims v. Reality
    • AAUP Challenges Legitimacy of Newly announced Non-Profit Said To Be Created To Run Westminster Choir College
    • Label Your Stuff!
    • WCC Alumni Council Questions and Answers
    • Statement on Proposed Sale of Westminster Choir College Faculty Union Vows to Continue Oppose ill-conceived Sale of Iconic Music School
    • June 7 Letter to Board
    • A Failure of Due Diligence
    • Bond 2017
    • Chronology of the WCC Crisis
    • Kaiwen Education Technology
    • Pending Legal Actions >
      • Legal Complaints against Rider University over Sale of WCC
    • The Legacy of Westminster Choir College
    • Updates and Information Sent to Faculty from AAUP Leadership >
      • A Letter to WCC Faculty regarding President Dell'Omo's Letter
      • Open Letter to Board of Trustees
      • Letter to Faculty
      • How a For-profit Company Might Ruin Westminster
      • A Message from AAUP regarding the potential layoff of Westminster Faculty
      • ​Update on Westminster
    • Press Releases >
      • Outrage Over Rider University's Plan To Sell Legendary Choir College To Chinese For-Profit Company With No Experience in Higher Education
      • DellOmo Lays Off Entire WCC Faculty
    • WCC Crisis in the News >
      • The Coalition to Save Westminster Choir College Initiates Spin-Off Discussions With Rider University Administration
    • Letters of Support for WCC >
      • Eric Whitacre Praises Westminster
      • Statement of support from NJ Higher Ed Leadership Council.
      • Support for Westminster Choir College
    • Teach In at WCC
    • WCC Teach In Audio >
      • Remarks by Laura Brooks Rice
      • Have American Universities Lost Their Way? by Joel Phillips
    • Governance Standards in Institutional Mergers and Acquisitions
  • 2022 Negotiations
    • Negotiation Updates
    • STRIKE FAQ
    • AAUP's Response to Admin's "Critical Need for Change"
    • AAUP v. Admin Proposals
    • CREDO >
      • Admin's Prioritization Report
      • WCC Students Petition DellOmo
      • Dr. Sanjay G. Reddy Speaks to the Chapter
      • A Bargaining Unit Member's Guide to Credo Part 1
      • A Bargaining Unit Member's Guide to Credo Part 2
      • Rider AAUP Executive Committee Recommendations Concerning Credo Consulting
      • Administration Attempts to Bully AAUP Executive Committee
      • Save Rider Rally
Some Inconvenient Truths
August 15, 2017

Edward D. Kleinbard wrote in the New York Times on August 9, 2017 that when “the money coming in is systematically less than the money being disbursed, that’s what it means to run a deficit.” (Edward D. Kleinbard, “The Debt Ceiling Crisis is Real” New York Times). This leads us to ask whether or not Rider University systematically has taken in less money than it has disbursed. 

In February 2017, Moody’s had the following to say about Rider’s finances:

“Moody's Investors Service has affirmed the Baa2 rating on Rider University's (NJ) $41 million of outstanding rated debt. The outlook is stable.” Moody’s also said, “The Baa2 rating is supported by Rider's mid-sized scale of operations ($153 million revenue in FY 2016), low debt burden, and consistently positive operating cash flow.” (Emphasis added)
As to the future, Moody’s had this to say:

“The stable outlook reflects our expectation that the university will produce operating cash flow in the 6-8% range in the near term with continued adequate debt service coverage.” Thus Moody’s predicts we will have healthy cash flows.
Can this be correct? Are we not, as we have been told by the administration, facing a fiscal crisis in which our income “is systematically less than the money being disbursed?”

Moody’s clearly does not believe we are going to have an operating cash deficit, nor does this year’s Actual Cash Activities Report for July 2016- June 2017 as provided by Rider's finance department indicate such a crisis. In the 2017 fiscal year (July 1, 2016-June 30, 2017), Rider had actual cash inflows of $200,159,607. In that same time period, Rider had actual cash outflows (exclusive of Investment Transfers which is simply the movement of monies from one Rider account to another) of $164,092,365. Thus, the University had net positive cash activity of $38,201,868, exclusive of investment transfers. While actual cash activity is not identical to operating cash flows, with such strong cash activity the external audit will almost certainly show positive operating cash flows consistent with Moody’s prediction.

At the same time as we have been told that the University faces a very serious financial crisis, we also have been told that faculty compensation is out of step with local institutions and is unsustainable. However, an objective analysis of the data available leads to a different conclusion.

College          Full            Associate     Assistant
Monmouth     $174,000     $138,800        $97,100
Stockton         $173,600     $132,100        $102,100
Ramapo           $172,000     $134,300        $114,900
St. Joseph's     $163,400     $129,500        $115,200
Montclair        $156,100     $126,900        $101,700
Rider                $152,300     $132,500        $107,500

(Data from 2016-17 AAUP Compensation Survey)

As you can see from the above chart outlining average total compensation by rank,
 Rider full-time faculty earnings (salary and benefits) are not out of step with those at other local institutions.Based on this analysis, we ranked seventh out of seven for full professors, fourth out of seven for associate professors, and third out of seven for assistant professors.

The administration’s initial proposal would cut benefits on average by $13,000 and rank minima by $10,000. How would we compare then? How then will we be able to retain and recruit the high quality, full-time faculty that have been a hallmark of Rider University in recent decades? How will this help the University attract and retain new students?

At the same time we also have been told that our adjunct faculty earns significantly more money than is typical. The AAUP’s national survey of adjunct per section pay found that the median for private independent master’s granting institutions (Rider’s category) was $5,242 and the average was $6,654. Our typical compensation per course ranges from $4,435 for adjunct instructors to $5,645 for adjunct full Professors The administration’s proposal would drop that rate to $4,000 per section regardless of rank and do away with job security and benefits for priority adjunct faculty. How will Rider compare then? How then will we be able to retain and recruit the high quality adjunct faculty that have been a hallmark of Rider in recent decades? How will this help the University attract and retain new students?
​

Given the information concerning Rider’s financial status, and current faculty earnings, the administration’s present demand for $9.25 million in concessions (down from their original demand of $10.1 million) seems out of touch with reality.

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  • Home
  • About
    • Mission Statement
    • Chapter Meeting Minutes
    • Presentations from AAUP Meetings
    • Meeting Dates 21-22
    • Points of Contact
    • AAUP Officers
    • AAUP Awards >
      • Bertram Mott Award
      • Henry J. Frank Award
    • P&T Committee Members
    • APC Committee Members
    • UAPC Committees
    • Training for College/School Academic Policy Committee Members
    • CIM Training Video
    • Membership
    • Assumption of Risk and Waiver Form for Employees that is required for travel funds
  • Contract
  • Grievances
    • Grievance Process
    • Amendments to Grievance Process, Updated April 2016
    • Grievance Procedure Explained
  • Constitution
    • I - Name
    • II - Purpose
    • III - Membership
    • IV - Dues
    • V - Chapter Officers
    • VI - Committees
    • VII - Election of Officers
    • VIII - Removal of Officers
    • IX - Disciplining of Members
    • X - Meetings
    • XI - Contract Ratification
    • XII - Finance
    • XIII - Amendments
  • Saving WCC
    • Decision on Standing Lawsuit
    • AAUP Response to Provost Fredeen's October 2nd Email
    • Important Information on Campus Consolidation
    • Chinese Company Out As Buyer Of Westminster Choir College
    • Kaiwen is Gone
    • Kaiwen Education Reply to a June 2019 Inquiry from the Shenzhen Stock Exchange
    • Update on Kaiwen Education's Financial Status
    • Arbitration Over Layoffs at WCC
    • Kaiwen Education 2018 Annual Report
    • By Federal Reserve Standards Kaiwen Education is a Highly Leveraged and Risky Business
    • Two Updates on Kaiwen's Finances
    • Due Diligence and Kaiwen Education
    • Chronology of a Crisis
    • WCC Reset
    • New Jersey Attorney General’s Office Delivers Major Setback to Rider University’s Plan to Sell Westminster Choir College
    • Westminster Foundation Press Release on AG Investigation
    • Purchase Agreement
    • Faculty Shocked to Learn Secret Agreement Would Allow Buyer to Close Westminster Choir College
    • Universities as the Guardians of Assets
    • Press Release Kaiwen Finances
    • 2019 Report on Kaiwen
    • DejaVuDellOmo
    • Kaiwen Announcement 1/11/19
    • AAUP Goes to the NJ Assembly
    • Sign the Petition to Save WCC
    • WWCAC Letter November 8 2018
    • Kaiwen Education: Report on Company Performance Through the Third Quarter 2018
    • New Information Reveals Chinese Corporation Plans to Take $20 Million Westminster Choir College Endowment despite Prohibitions Imposed by State/Federal Law
    • More Bad News about Kaiwen
    • Claims v. Reality
    • AAUP Challenges Legitimacy of Newly announced Non-Profit Said To Be Created To Run Westminster Choir College
    • Label Your Stuff!
    • WCC Alumni Council Questions and Answers
    • Statement on Proposed Sale of Westminster Choir College Faculty Union Vows to Continue Oppose ill-conceived Sale of Iconic Music School
    • June 7 Letter to Board
    • A Failure of Due Diligence
    • Bond 2017
    • Chronology of the WCC Crisis
    • Kaiwen Education Technology
    • Pending Legal Actions >
      • Legal Complaints against Rider University over Sale of WCC
    • The Legacy of Westminster Choir College
    • Updates and Information Sent to Faculty from AAUP Leadership >
      • A Letter to WCC Faculty regarding President Dell'Omo's Letter
      • Open Letter to Board of Trustees
      • Letter to Faculty
      • How a For-profit Company Might Ruin Westminster
      • A Message from AAUP regarding the potential layoff of Westminster Faculty
      • ​Update on Westminster
    • Press Releases >
      • Outrage Over Rider University's Plan To Sell Legendary Choir College To Chinese For-Profit Company With No Experience in Higher Education
      • DellOmo Lays Off Entire WCC Faculty
    • WCC Crisis in the News >
      • The Coalition to Save Westminster Choir College Initiates Spin-Off Discussions With Rider University Administration
    • Letters of Support for WCC >
      • Eric Whitacre Praises Westminster
      • Statement of support from NJ Higher Ed Leadership Council.
      • Support for Westminster Choir College
    • Teach In at WCC
    • WCC Teach In Audio >
      • Remarks by Laura Brooks Rice
      • Have American Universities Lost Their Way? by Joel Phillips
    • Governance Standards in Institutional Mergers and Acquisitions
  • 2022 Negotiations
    • Negotiation Updates
    • STRIKE FAQ
    • AAUP's Response to Admin's "Critical Need for Change"
    • AAUP v. Admin Proposals
    • CREDO >
      • Admin's Prioritization Report
      • WCC Students Petition DellOmo
      • Dr. Sanjay G. Reddy Speaks to the Chapter
      • A Bargaining Unit Member's Guide to Credo Part 1
      • A Bargaining Unit Member's Guide to Credo Part 2
      • Rider AAUP Executive Committee Recommendations Concerning Credo Consulting
      • Administration Attempts to Bully AAUP Executive Committee
      • Save Rider Rally