Gerald Hector, KC old boy and Ithaca College of New York Vice President of Finance and Administration recently hosted a webinar to discuss the practical steps boards and administrators at Minority Serving Institutions (MSIs) can take to financially strengthen their institutions in the face of the "new normal."
Hector has penned an informative brief on financial distress at Minority Serving Institutions entitled, Navigating the New Normal: Financial Imperatives for MSI Effectiveness and Financial Exigency.
The webinar is sponsored by the Southern Educational Foundation (SEF) which is a not-for-profit foundation whose main goal is to promote quality education for traditionally disadvantaged students, including the poor and African Americans. SEF provides research, policy analysis and programming in some 15 southern states.
According to Hector’s white paper / brief, “change is upon the higher education industry in ways that many are still coming to terms with. The chief lesson of the Great Recession is that constant change is the new norm. It will require new ways of thinking, creative ways to solve problems, and engaging with new constituent groups in more transparent and meaningful ways. Trustees are being held to much higher standards and must respond in ways that mean spending more time understanding all operational aspects of the institutions they are charged with overseeing.”
Hector has two decades of experience in financial management in both higher education and the private sector. Prior to his current appointment, Hector served as vice president of business and finance at Johnson C. Smith University from 2004-2013. Hector holds a bachelor’s degree in business administration from Howard University and certificates from the College Business Management Institute at the University of Kentucky.
Hector recently appeared on the HBCU Nation Radio Show to discuss the webinar. You can listen to the conversation at: gerald-hector-on-the hbcu nation radio show
Listen to the webinar at: Navigating-the-New-Normal
The white paper is available at: Hector White paper on Navigating-the-New-Normal