From weddings to workshops, campuses are cashing in on their spaces!

  • Colleges are increasingly hosting events to supplement revenue.
  • Endicott College generates over $2 million annually from weddings.
  • Sweet Briar College is leveraging its horses and greenhouse for revenue.
  • Whittier College’s events business grew by 40% in the last fiscal year.
  • Rhode Island School of Design has monetized its spaces for various events.
  • Auxiliary revenue is crucial for smaller liberal arts colleges facing financial challenges.
  • Intern housing programs at colleges are booming, generating significant income.

Colleges are finding innovative ways to boost their finances by hosting events and activities on their campuses. With many beautiful buildings often empty on weekends or during the summer, institutions are capitalizing on this potential. For instance, Endicott College in Massachusetts generates over $2 million in net revenue from weddings each year, while Sweet Briar College in Virginia is utilizing its horses and greenhouse to attract visitors and sell products like hydroponic lettuce and wine. Whittier College has also seen success, hosting events like a Jane Austen Society brunch and arts retreats, which brought in $700,000 last year, a 40% increase from the previous year. nnThe Rhode Island School of Design (RISD) has embraced this trend by launching its conference and events services, allowing it to host weddings, corporate events, and more. This shift has been a significant cultural change for some faculty, but it has opened new revenue streams. For the upcoming fiscal year, RISD expects to earn $206,000 from on-campus events alone. nnEndicott College’s auxiliary activities contribute about $9 million to its operating revenue, helping the school navigate financial challenges during the pandemic without resorting to layoffs. Additionally, interest in intern housing at colleges has surged, with schools like Vanderbilt University and Georgia Tech generating substantial income by providing accommodations for interns. These auxiliary activities not only serve as revenue sources but also act as marketing opportunities, introducing prospective students to campus life through summer camps and corporate retreats.·

Factuality Level: 8
Factuality Justification: The article provides a well-researched overview of how colleges are leveraging their facilities for additional revenue through events and auxiliary services. It includes specific examples and financial figures, which support its claims. However, there are minor instances of opinion and promotional language that could detract from its objectivity.·
Noise Level: 7
Noise Justification: The article provides relevant information about how colleges are diversifying their revenue streams through auxiliary services, particularly in the context of post-pandemic recovery. It includes specific examples and data, such as revenue figures and the types of events hosted, which supports its claims. However, while it touches on important trends, it lacks deeper analysis of the long-term implications of these changes and does not critically engage with the potential consequences for the institutions or their communities.·
Public Companies: Vanderbilt University (), Georgia Institute of Technology (), Coca-Cola (KO), Home Depot (HD)
Private Companies: Endicott College,Sweet Briar College,Whittier College,Rhode Island School of Design
Key People: Mary Pope M. Hutson (President of Sweet Briar College), Steven DiSalvo (President of Endicott College), Anne Colasanto (Senior Project Manager at Rhode Island School of Design), Chuck Salem (Co-owner of Unique Venues), Jody Soares (Associate Director of Conferences and Events at Rhode Island School of Design), Suzanne Shaw (Senior Director of Conferences and Events at Vanderbilt University)

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Financial Relevance: Yes
Financial Markets Impacted: The article discusses how colleges are generating revenue through auxiliary services like hosting events, which impacts their financial stability and operations.
Financial Rating Justification: The article focuses on the financial strategies of colleges to supplement their income through events and services, highlighting the importance of these revenues in maintaining operations and avoiding financial difficulties.·
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: The article discusses colleges generating revenue through events and auxiliary services but does not mention any extreme events.·

Reported publicly: www.wsj.com