Small College America - Charles Kim Trustee Augustana and Westminster College, Missouri
Today, we dive deep into the challenges and opportunities facing small colleges with Charles Kim, who’s been at the forefront of strategic financial advising in higher education.
Charles Kim is a retired strategic and financial advisor who, for more than 30 years, advised leading healthcare systems, academic medical centers, and institutions of higher education nationwide throughout his career. Prior to his retirement, he was a Managing Director at Kaufman Hall, where he launched and led the firm’s Higher Education division. Mr. Kim has presented at various higher education conferences and authored over thirty articles on the higher education industry, topics ranging from strategic planning to financial management and partnerships. He continues to be active in the higher education industry, serving on the boards of Augustana College and Westminster College. Mr. Kim has an M.B.A. in Finance and Accounting and a B.A. in Economics, both from the University of Chicago.
Questions:
Charles Kim is a retired strategic and financial advisor who, for more than 30 years, advised leading healthcare systems, academic medical centers, and institutions of higher education nationwide throughout his career. Prior to his retirement, he was a Managing Director at Kaufman Hall, where he launched and led the firm’s Higher Education division. Mr. Kim has presented at various higher education conferences and authored over thirty articles on the higher education industry, topics ranging from strategic planning to financial management and partnerships. He continues to be active in the higher education industry, serving on the boards of Augustana College and Westminster College. Mr. Kim has an M.B.A. in Finance and Accounting and a B.A. in Economics, both from the University of Chicago.
Questions:
- You’ve spoken passionately about your preference for liberal arts education, mentioning your experiences at the University of Chicago and your children’s experiences at Middlebury and Colby. What specific aspects of a liberal arts education do you believe are most valuable in today’s world, and how have you seen these benefits play out personally and professionally?
- "You transitioned into the small college space with a strong desire to preserve history and support struggling institutions. What motivated you to take on the role of a trustee, and what advice would you give to others considering this path? What do you believe are the most important qualities and preparations needed for an effective trustee?"
- "In our earlier conversation, you emphasized the importance of transparent communication and data sharing between senior administration and trustees, especially during times of financial stress. What strategies have you found most effective for fostering this transparency and encouraging difficult but necessary conversations?"
- "Can you discuss the importance of involving stakeholders in decisions about schools in financial distress who might have to close? What role do you believe private investors and state institutions can play in supporting small colleges and their communities?”
- "You mentioned your experience with a strategic initiative at Augustana that involved collaboration among faculty, administrators, and trustees. What were some of the key strategies you used to build trust and foster effective communication between these groups? How can other institutions replicate this approach?"
- "You’ve been involved over your career as a consultant for a number of schools that faced financial challenges. Can you share some key lessons learned from these experiences? What do you see as the biggest challenges and opportunities in using mergers as a strategy for struggling institutions? Looking ahead, how do you foresee mergers shaping the future landscape of small colleges?"
Closing
" If you’d like to learn more about the series, visit our website at www.smallcollegeamerica.transistor.fm/, where you can find details on upcoming episodes, contact us, and even suggest topics you’d like us to cover. Be sure to subscribe and leave a review. For Small College America, thank you for joining us.
" If you’d like to learn more about the series, visit our website at www.smallcollegeamerica.transistor.fm/, where you can find details on upcoming episodes, contact us, and even suggest topics you’d like us to cover. Be sure to subscribe and leave a review. For Small College America, thank you for joining us.
