Last weekend was a time of celebration, connection, and renewed purpose at St. John’s College Santa Fe, as the campus welcomed our Board of Visitors and Governors, alumni, and esteemed guests and friends for the reopening of the Pritzker Student Center. The weekend included the inauguration of President J. Walter Sterling, with welcoming remarks by Santa Fe Mayor Michael Garcia; lectures by distinguished guests Shilo Brooks and Musa al-Gharbi; a panel featuring an inspiring array of alumni; and a dedication ceremony honoring Karen Pritzker and her family, whose $25 million gift from the Jay Pritzker Foundation catalyzed the $75 million Pritzker Challenge that made the renovation possible. In addition, the St. John’s College Alumni Association hosted its annual Awards Reception at a remarkable venue, the Scottish Rite Temple. We are grateful to so many in our community for investing their time, effort, and attention into making this extraordinary weekend a success.
The Board of Visitors and Governors also held its winter meeting in Santa Fe, where trustees examined the state of the college’s finances, enrollment, fundraising, and more. While enrollment and net tuition revenue continue to present significant challenges—with modest declines in enrollment anticipated next year and the continued graduation of our recently large classes—fundraising remains exceptionally strong. Our endowment now stands at $355 million, more than double its size just eight years ago, and we are $10 million ahead in fundraising this year compared to last year, having raised already over $20 million in gifts and pledges, in part thanks to the new Gray-Roosevelt Scholarship Fund supporting student scholarships on the Santa Fe campus and to pledges raised for a new building in Annapolis. In January, S&P reaffirmed our A- bond rating, which had previously been raised from BBB+. We are holding strong at a rating that is good for a school of our size in relation to our peers.
Decreased net tuition revenue and increasing costs continue to exert pressure on the budget, creating a substantial structural gap that has proven manageable and been offset each year through fundraising or other nonrecurring funds. The extraordinary generosity of our donors has helped us bridge this gap, but long-term sustainability requires that we continue aligning our operating model with our financial reality, especially as the college will need soon to catch up on overdue adjustments to staff and faculty salaries to keep pace with inflation. We have taken a crucial step forward by filling key open positions in the Admissions and Advancement offices, including our new Vice President of Advancement and Alumni Relations Leslie Palmieri (SFGI99), based in Annapolis. In addition, our new Director of Annual Giving is leading an effort to substantially increase the amount raised annually, executing a plan in development since last spring. The Board, the Strategic Planning Task Force, and relevant BVG committees are actively engaged in all these areas and will continue to develop and advance recommendations aimed at strengthening the college’s financial position in the years ahead.
We see much reason for enthusiasm across academic life, capital improvements, partnerships, and more. Among these initiatives are the expected completion of securing funding for a new art and academics building on the Annapolis campus; a proposed update to our degree name, which could open new opportunities for students and allow international students to receive a visa-extending STEM designation; the expansion of partnerships with international programs such as the Pascal Institute; and a new four-week summer visual arts intensive at Ghost Ranch, the onetime home of artist Georgia O’Keeffe, in New Mexico.
On our campuses, we anticipate a year of significant activity, including the second year of American Law Institute seminars—this time on the Annapolis campus—and, in Santa Fe, a week of seminars for attendees of the National Judicial College conference. Summer Classics registration launched last month, and this year’s theme, The Pursuit of Happiness, takes its inspiration from the 250th anniversary of the Declaration of Independence. In Annapolis, the campus will also partner with Maryland institutions on a series of 250th anniversary initiatives. And in June, the Santa Fe campus will host a three-day series of arts and culture events produced by Santa Fe Magazine.
As we look ahead, we will continue to share the message that St. John’s is needed now more than ever—a message that is resonating. Our visibility initiatives have led to op-eds, articles, and podcast appearances in outlets including the New York Times, Los Angeles Times, Newsweek, The Guardian, The Christian Science Monitor, The Hill, The Chronicle of Higher Education, and Fast Politics with Molly Jong-Fast. We will continue to seek reporters, podcast hosts, or broadcast producers who might be interested in hearing why St. John’s provides an antidote to much of what ails society today. And each of you can help us elevate the visibility and reach of the Program and the college through your advocacy. Let all who have ears to hear join us.
St. John’s Forever! Presidents J. Walter Sterling and Susan Paalman
