BLOOMFIELD / MONTCLAIR, NJ — On March 23, Montclair State University’s board of trustees authorized the university to provide financial support to Bloomfield College, if needed, to ensure the college can remain open through the 2022-23 academic year while the two institutions work toward their goal of establishing a permanent relationship.
As New Jersey’s only four-year predominantly black institution, as well as a Hispanic-serving and minority-serving institution, Bloomfield College provides students from these underrepresented communities with the education they need for social and economic mobility, according to a recent press release from MSU announcing the partnership. According to the college, more than 85 percent of Bloomfield College students are people of color, nearly 71 percent are Pell Grant eligible and the median family income is below $32,000. Recognized as one of the most diverse national liberal arts colleges in the United States by U.S. News & World Report, the college offers the lowest tuition among the private four-year institutions in New Jersey.
In October 2021, Bloomfield College, which was founded in 1868, announced that it is in a difficult financial situation after declines in enrollment, exacerbated by the COVID-19 pandemic. Because tuition is the college’s primary source of revenue, the reduction in enrollment has resulted in severe financial challenges that are expected to last for years to come.
“The board of trustees and Bloomfield College’s administration are exploring all options to support our students and remain open in order to continue the college’s core mission. We seek institutions or philanthropists that share the values around our mission and will see us as a valuable partner,” Bloomfield College board Chairperson Vernon M. Endo said in October.
In addition to announcing Bloomfield College’s financial woes to the larger community last fall, college President Marcheta P. Evans also addressed students, faculty and staff at a town hall meeting held on the Bloomfield campus.
“By publicly announcing our situation, we hope to attract the attention of potential partners and major philanthropic donors who are passionate about making an impact on advancing opportunities for underserved student populations,” Evans told the college community in October. “We are committed to doing all we can, as quickly as possible, to find a solution.”
After carefully evaluating the many institutions that responded to this call, Bloomfield College determined that Montclair State University is the ideal partner, according to the March 23 press release from MSU. Recognizing an opportunity to achieve a unique, collaborative relationship, the presidents of both institutions signed a nonbinding letter of intent in December to pursue a permanent relationship, such as a merger or an affiliation, upon mutually agreeable terms.
In order to allow the parties to formalize a permanent relationship that supports Bloomfield College’s mission and ensures that the Bloomfield College legacy and name will continue, the Montclair State board has authorized MSU President Jonathan G.S. Koppell and interim Vice President for Finance and treasurer Michael Galvin to finalize and execute an interim financial support agreement that will enable Bloomfield College to fully support its students through the 2022-2023 academic year.
Specifically, the agreement will allow the MSU to furnish Bloomfield College with a source of additional funds, if needed, to ensure that the college can complete the 2022-23 academic year. Any loans made under this agreement will be secured by a lien on real estate owned by the college.
The level of support needed from Montclair State may be reduced thanks to a $5 million allocation in Gov. Phil Murphy’s detailed state budget proposal, also released March 23. That funding will help ensure Bloomfield College remains open and gives the schools time to develop the details of a permanent relationship.
“The missions of both institutions are closely aligned,” Koppell said. “We are both committed to providing access to high-quality educational experiences to students who are often marginalized. So this response to financial adversity is borne of the conviction that together we can make an even greater impact on the communities we serve. This is what it means to be New Jersey’s premier public service university: turning challenge into opportunity through collaboration and innovation. I look forward to working closely with President Evans to craft a strategic relationship that could serve as a national model of innovation.”
“We are grateful to the Montclair State University board of trustees for taking this important step,” Evans said. “Montclair (State University) officials, including President Koppell, toured the Bloomfield campus several times and were impressed by our students, faculty and staff, as well as by our programs and facilities. Most importantly, Montclair (State) shares our commitment to students from historically underserved populations that is our core mission.”
The board of trustees of Bloomfield College has also authorized Evans and interim Vice President of Finance and Administration Cindy McDaniel to finalize and execute the interim financial support agreement.
Bloomfield’s Board Chair Vernon M. Endo said,
“A future relationship would build upon the strengths of both institutions and enhance academic and other opportunities for current and future students at both campuses,” Endo said.
Bloomfield College and Montclair State University are located less than a 10-minute drive from each other.
“We are committed to working together to build a relationship that would advance the missions of both institutions and create opportunities for the students and communities that we serve,” Montclair State board of trustees Chairperson Francis Cuss said. “The funding agreement the trustees approved today will be a line of credit that the college can draw upon, should it be necessary, while the details of a permanent relationship are explored.”
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