Sattler College Turmoil

[Ken]

I’ve heard Finny’s name before but never paid much attention. But just a general search tells me that he holds a lot of degrees, but none of them seem to be anything that would be helpful in running a financial management firm. Maybe computer science. Where did the money come from to get all these degrees?

Sorry if this is off topic, but I’m curious about this person who can single-handedly finance a college in what seems like a vanity project.

Kuruvilla holds an MD from Harvard Medical School, a PhD in Chemistry and Chemical Biology from Harvard University, a master’s degree in Electrical Engineering and Computer Science from MIT, and a bachelor’s degree from Caltech in Chemistry.

I'm curious too.

According to Eventide's web page they have $7.4 BILLION investment dollars under management in their funds. If they are charging a fairly industry-standard 1% management fee that would amount to annual revenues of $74 million but there are multiple other owners of the company and they have 77 employees so must have considerable costs as well. But either way, Kuruvilla has to be pretty wealthy and has probably built up his own personal fortune separate from Eventide over the years through investing as well.

[RZehr]

This explains some things. It has crossed my mind that the school seems very small, and yet is located, from what I understand, right in Boston, which seems like an expensive place to get real estate. And expensive lodging for students.

Perhaps it's time to revisit a prediction from 23 months ago today:

If my predictions hold true, it’ll be the next EMU. (EMU was started because Goshen was getting too liberal.)

EMU has plummeting enrolment and a budget crisis, and Harrisonburg isn’t exactly a place young, hip students are clamouring to go.

Sattler is in Boston in the middle of the city, which appeals to youth who want to go some place “fun”. It has backers with deep pockets and the excitement of a new school with climbing enrolment, along with promises to parents, donors, and church leaders that the school is very dedicated to being “conservative”.

With that said, I fully expect Sattler to end up like EMU is.

I think it’s just a wee bit early to say that Josh’s prediction came true. So far in this thread it sounds like they may be taking steps to retain a conservative constituency - not being like EMU there.
And as far as a budget crisis, I’m not sure we are there just yet either.

[joshuabgood]

I’ve heard Finny’s name before but never paid much attention. But just a general search tells me that he holds a lot of degrees, but none of them seem to be anything that would be helpful in running a financial management firm. Maybe computer science. Where did the money come from to get all these degrees?

Sorry if this is off topic, but I’m curious about this person who can single-handedly finance a college in what seems like a vanity project.

Kuruvilla holds an MD from Harvard Medical School, a PhD in Chemistry and Chemical Biology from Harvard University, a master’s degree in Electrical Engineering and Computer Science from MIT, and a bachelor’s degree from Caltech in Chemistry.

Finny's intelligence and work ethic and wide learning is unparalleled. He is a brilliant man. His schooling was largely all merit based scholarships.

[Ken]

This explains some things. It has crossed my mind that the school seems very small, and yet is located, from what I understand, right in Boston, which seems like an expensive place to get real estate. And expensive lodging for students.

Perhaps it's time to revisit a prediction from 23 months ago today:

If my predictions hold true, it’ll be the next EMU. (EMU was started because Goshen was getting too liberal.)

EMU has plummeting enrolment and a budget crisis, and Harrisonburg isn’t exactly a place young, hip students are clamouring to go.

Sattler is in Boston in the middle of the city, which appeals to youth who want to go some place “fun”. It has backers with deep pockets and the excitement of a new school with climbing enrolment, along with promises to parents, donors, and church leaders that the school is very dedicated to being “conservative”.

With that said, I fully expect Sattler to end up like EMU is.

I think it’s just a wee bit early to say that Josh’s prediction came true. So far in this thread it sounds like they may be taking steps to retain a conservative constituency - not being like EMU there.
And as far as a budget crisis, I’m not sure we are there just yet either.

Most small faith-based private colleges are struggling these days. The only ones that aren't are the ones that have massively scaled-up online learning like Liberty University and Grand Canyon University. Or schools that have climbed into the wealthy elite tier like Notre Dame or Wake Forest. So this isn't anything unique to Menno colleges or Anabaptist colleges.

I think this is probably an extremely difficult time to start a new college as Sattler has done for several reasons.

First, students and families are much less loyal to their denominational institutions than in generations past. Mennos don't feel compelled to go to Menno institutions, Lutherans don't feel compelled to go to Lutheran institutions. Catholics don't feel compelled to go to Catholic institutions, and so forth. So Sattler isn't just competing against EMU or Rosedale. But also against all the local and regional state universities. And hundreds of other private colleges.

Second, Sattler has a very very narrow niche they are aiming towards. That makes their job very much more difficult. Compared to say other faith-based institutions that have cast a much broader net. Like, for example, Patrick Henry College, which has marketed itself to the vast population of conservative Christian homeschoolers.

[Ernie]

Intially Finny told me that he did not expect many Anabaptist students. His target audience was young evangelicals who wanted something different than what they were getting from their politically conservative parents. Basically the sort who were influenced by David Platt and Francis Chan but wanted to go even further in a kingdom Christian direction.

Well, once it was time to find students for his college, conservative Anabaptists began receiving emails in their inboxes and Anabaptists made up the majority of the first class of students. When I asked Finny about this, he commented that he thinks it is really good that the Anabaptists are in the majority. He thought it would help the school create a strong kingdom Christian culture. (Most of his faculty didn't meet his definition of "strong kingdom Christian").

Now we are hearing that some of these Anabaptists are not what he was looking for. So going forward, it looks like he will want Anabaptists who have strong FOTW leanings, or those who are willing to oblige FOTW even if that is not what they are comfortable with. So basically FOTW fans and those who consider FOTW more helpful than harmful. The last while Finny has been thinking that maybe he should have a smaller school that is more the flavor he is looking for.

[joshuabgood]

Intially Finny told me that he did not expect many Anabaptist students. His target audience was young evangelicals who wanted something different than what they were getting from their politically conservative parents. Basically the sort who were influenced by David Platt and Francis Chan but wanted to go even further in a kingdom Christian direction.

Well, once it was time to find students for his college, conservative Anabaptists began receiving emails in their inboxes and Anabaptists made up the majority of the first class of students. When I asked Finny about this, he commented that he thinks it is really good that the Anabaptists are in the majority. He thought it would help the school create a strong kingdom Christian culture. (Most of his faculty didn't meet his definition of "strong kingdom Christian").

Now we are hearing that some of these Anabaptists are not what he was looking for. So going forward, it looks like he will want Anabaptists who have strong FOTW leanings, or those who are willing to oblige FOTW even if that is not what they are comfortable with. So basically FOTW fans and those who consider FOTW more helpful than harmful. The last while Finny has been thinking that maybe he should have a smaller school that is more the flavor he is looking for.

That makes a lot of sense of the latest move...if the end is a smaller more FOTW school. Though it was less than a hundred already.

Though again this an about shift that feels a little whiplashy. Just a year or two ago the admissions folks, Leslie who used to work there, were telling me in conference calls, when I asked, that they were wanting to be several hundred students.

I don't think evangelicals ever materialized.

[Ernie]

Though again this an about shift that feels a little whiplashy. Just a year or two ago the admissions folks, were telling me in conference calls, when I asked, that they were wanting to be several hundred students.

Yes, I am starting to realize that visionaries with big dreams and persuasive rhetoric, tend to be among the most whiplashy. Some would say that all visionaries are this way but I think that is a rather narrow definition of a visionary.

Some visionaries are quite consistent from one decade to the next. They set their eye on a goal, and can't be talked out of it.

[Sliceitup]

Though again this an about shift that feels a little whiplashy. Just a year or two ago the admissions folks, were telling me in conference calls, when I asked, that they were wanting to be several hundred students.

Yes, I am starting to realize that visionaries with big dreams and persuasive rhetoric, tend to be among the most whiplashy. Some would say that all visionaries are this way but I think that is a rather narrow definition of a visionary.

Some visionaries are quite consistent from one decade to the next. They set their eye on a goal, and can't be talked out of it.

I think this problem of visionaries is exacerbated if/when they frequently encounter little resistance.

As I said earlier, I know very little about Finny, but just reading a few summaries on his educational and professional achievements, I can make some guesses. I’m assuming he’s profoundly intelligent, with an IQ of at least 140, possibly much higher. He loves the challenge of learning new things, but once he’s learned those things he wants new challenges. Because of his intelligence and motivation he’s rarely been unable to achieve his goals. And I don’t know if he was born into a family with wealth or only achieved it later (I’m guessing it’s the former), but a person who rarely encounters roadblocks having access to millions is just a recipe for disaster.

[Ernie]

As I said earlier, I know very little about Finny, but just reading a few summaries on his educational and professional achievements, I can make some guesses. I’m assuming he’s profoundly intelligent, with an IQ of at least 140, possibly much higher. He loves the challenge of learning new things, but once he’s learned those things he wants new challenges. Because of his intelligence and motivation he’s rarely been unable to achieve his goals. And I don’t know if he was born into a family with wealth or only achieved it later (I’m guessing it’s the former), but a person who rarely encounters roadblocks having access to millions is just a recipe for disaster.

His dad was a missionary and they had very little money growing up. Otherwise you sum it up well. Your last sentence has been echoed the last few years by many older than me.
I must say this in Finny's favor (having stayed in his home) there are few people with average means, who live as simply as his family does. He is very modest about his assets and doesn't wish to hoard assets or live luxuriously.

[Sliceitup]

As I said earlier, I know very little about Finny, but just reading a few summaries on his educational and professional achievements, I can make some guesses. I’m assuming he’s profoundly intelligent, with an IQ of at least 140, possibly much higher. He loves the challenge of learning new things, but once he’s learned those things he wants new challenges. Because of his intelligence and motivation he’s rarely been unable to achieve his goals. And I don’t know if he was born into a family with wealth or only achieved it later (I’m guessing it’s the former), but a person who rarely encounters roadblocks having access to millions is just a recipe for disaster.

His dad was a missionary and they had very little money growing up. Otherwise you sum it up well. Your last sentence has been echoed the last few years by many older than me.
I must say this in Finny's favor (having stayed in his home) there are few people with average means, who live as simply as his family does. He is very modest about his assets and doesn't wish to hoard assets or live luxuriously.

Will the Sattler situation affect FOTW in a significant way? How many of the board members were also FOTW? Are there other things that Finny has been bankrolling that could be jeopardized? How many church members were employed by Sattler?

I realize that’s a lot of questions, it’s just that from my understanding it’s a small church group and it was tied closely with the college. I didn’t know if this would affect a lot of member on a regular basis.