Challenging Times in Higher Education Require Transformational Change
The headwinds facing colleges and universities today are well known: the demographic shift, changing student needs, and the struggle to address financial challenges. We know that continuous cutting of expenses does not lead to prosperity and that business model transformation will require a new approach for the future.
Core Education, a Public Benefit Corporation
Core Education is a public benefit corporation with a mission to transform the business model for non-profit colleges and universities. Core helps institutions think differently and approach challenges with confidence. Today, Core leverages its economies of scale across a $700M system operating budget to help its institutional partners growth and diversify revenue, improve technological efficiency, and operational effectiveness.
Corporate Affiliate Partnership with CIC: A Catalyst for Prosperity Addressing Real-World Challenges
The Council of Independent Colleges (CIC) established a new corporate affiliate partnership with Core Education designed to empower CIC members to solve real world challenges, including long-term financial prosperity. Through this partnership, CIC member institutions and their boards can embark on an innovative journey of business model transformation.
Exclusive CIC Member Benefits
- Complimentary Board Development
For CIC institutional members seriously committed to long-term financial change, Core has agreed to provide a limited number of complimentary Board training workshops designed to educate Board members on the financial fundamentals, complexities and opportunities for CIC member institutions (limited availability).
- The Core Prosperity Study
A Prosperity Study is a sixty-day collaborative project that reviews key revenue and expenses, as well as technology and capital strategies. CIC members access this service at a contractually guaranteed “best fee” representing a 15-20% discount versus non-CIC members.
- Long-term Commitment Incentive
Through this agreement with CIC, Core will provide a full credit of the cost of the prosperity study to institutions who select to engage in a multi-year partnership. Core has never made such an offer before, and this offer is only available to active CIC members.
CIC’s partnership with Core is designed to provide an increased level of access to Core’s transformation pathways and industry-leading expertise that would otherwise not be available.
A Prosperity Study is a sixty-day collaborative project with components selected to fit the unique circumstances of each institution. The study typically includes:
- Revenue analysis
- Academic delivery cost review
- Financial prosperity gap
- Development of strategic growth building blocks
- Understanding operating rhythms and policies
- Technology assessment
- Financial modeling
- Organizational implementation, and
- Capital strategies
Prior to a Prosperity Study, it is recommended that the president along with key board members take time to understand how Core’s work as a supporting organization can open up new possibilities for the future. Board support of the president is a key requirement for successful partnerships and business model transformation, and this approach can also help migrate a board to a truly strategic governing body. At the conclusion of the Prosperity Study, a detailed implementation plan is presented to be operationalized as a “do-it-yourself” model or in partnership with Core.
For those selecting a partnership, Core aligns its supporting services to meet the specific institutional needs identified in the study. Core works alongside the campus team to execute specific strategies addressing short, medium, and long-term business model transformation goals. Leveraging Core as an operating partner often allows campuses the opportunity to move faster and accomplish more compared to a “do-it-yourself” implementation model.
To access the exclusive CIC member benefits, the first step is to schedule an initial conversation to learn more about what is possible when working with an operating partner such as Core. You can book a consultation with the Core team and learn more about its services and partners on Core’s website.
Frequently Asked Questions
What makes Core unique?
Core leverages its economies of scale and depth of resources to help our institutional partners grow and diversify revenue, improve technological efficiency, and operational effectiveness. While Core provides strategic and operational insights for its affiliate partners, our focus is on actively impacting operating results. Core deploys people, services, programs, and solution resources into the day-to-day operations of our partner institutions.
What is an operating partner?
An operating-partner, Core deploys people, services, programs, and solution resources into the day-to-day operations of our partner institutions. We work alongside your team to actively manage and execute on operational objectives. With Core as an operating partner, we can accomplish more together compared to a “do-it-yourself” implementation model. Far too many institutions have developed strategic plans without the depth of resources to successfully implement their objectives. The same can be applied to launching new revenue or market segments but with a failed financial reinvestment model or implementation shortfalls. Partnering with Core does not change who you are, but what you can accomplish as an institution.
Why is Core a Public Benefit Corporation?
Core is a mission-driven company that is dedicated to transforming nonprofit colleges and universities. As a public benefit corporation, Core is bound to serve this mission for the public good.