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Monmouth University
President’s Report

2024 year In Review
{Highlights from January 2024 through December 2024}
Monmouth University steel arch courtyard sign

FROM THE PRESIDENT

Dear Friends:
I

am pleased to share the 2024 President’s Report, a reflection of Monmouth University’s continued pursuit of academic excellence, student success, and meaningful impact.

This past year marked extraordinary progress for Monmouth. We launched the public phase of Excellence. Access. Ambition., a bold fundraising campaign poised to elevate student support to unprecedented levels. We also secured national recognition as a research college and university in the new Carnegie Classification of Institutions of Higher Education—affirming our growing research enterprise and Monmouth’s increasing competitiveness on the national stage.

Our faculty advanced scholarship across disciplines, earning prestigious grants and engaging students in original research that supports both learning and innovation. We celebrated notable academic and creative achievements, including patents in development through the Center for Entrepreneurship, the success of the Parton Broadcasting Center, and the expansion of the Bruce Springsteen Archives and Center for American Music, whose new home is rising rapidly right here on campus.

This is Monmouth

This is Monmouth
Located along New Jersey’s northern coastline, Monmouth University is a top-tier private institution known for its innovative academic programs, expert faculty, and nationally recognized Division I athletics. Comprehensive in scope, Monmouth enrolls approximately 4,767 students in more than 55 undergraduate and graduate degree programs, including four doctoral programs. Students hail from 40 states and 33 countries, contributing to a dynamic and diverse academic community.

Founded in 1933 as Monmouth Junior College, the institution became Monmouth College in 1956 and received its university charter in 1995. Today, Monmouth continues its rapid ascent as a leader in higher education, integrating excellence and access to make a high-quality private education both exceptional and attainable for students from all backgrounds.

In 2024, Monmouth University reached new heights, achieving record-breaking progress in national rankings, student success, and program recognition. From rising as a leader in social and economic mobility to enrolling the most academically accomplished and diverse class in its history, Monmouth continues to expand opportunity and impact. These recent achievements reinforce the University’s growing reputation as a place where excellence and access go hand in hand, ensuring student success at every level.

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Highest-Ever U.S. News Ranking

Monmouth achieved its highest-ever ranking, climbing to No. 15 in U.S. News & World Report’s 2025 Best Colleges list for Regional Universities North—continuing its ascent among the top institutions in the region.

person walking upstairs icon

A Leader in Social Mobility

Monmouth ranks No. 33 on U.S. News & World Report’s Top Performers on Social Mobility list, reflecting an impressive 44-spot rise in just two years, and surged 55 places in Washington Monthly’s 2024 rankings, which assess universities’ impact on social mobility, research, and service.

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Nationally Recognized for Affordability & Value

Monmouth’s commitment to affordability and excellence earned the University spots on U.S. News’ 2025 Best Value Schools, Money Magazine’s Best Colleges for Your Money 2024, and Washington Monthly’s 2024 Best Bang for the Buck Colleges: Northeast lists.

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Expanding Access to Higher Education

The Class of 2028 is Monmouth’s most inclusive yet, with more than half identifying as first-generation and/or low-income students. This record-breaking cohort also boasts the highest racial and ethnic diversity (34%) and Pell-eligibility rate (35%) in University history.

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Raising the Bar in Academic Excellence

Monmouth’s Class of 2028 set new academic benchmarks, achieving the highest SAT average (1220) in school history and a record-high 11.7% enrollment in the Honors School.

City skyline at sunset with a large suspension bridge in the foreground.
New York City skyline with the Brooklyn Bridge in the foreground under a clear blue sky.
Modern building with glass windows and rust-colored panels, surrounded by greenery.

A Prime Location for Academic Excellence

A Prime Location
for Academic Excellence

A Prime Location for Academic Excellence

A Prime Location
for Academic Excellence
City skyline at sunset with a large suspension bridge in the foreground.
New York City skyline with the Brooklyn Bridge in the foreground under a clear blue sky.
A blue research vessel named the R/V Heidi Lynn Sculthorpe on the water with coastal buildings in the background.
Modern building with a running track and people walking nearby.
Modern building with glass windows and rust-colored panels, surrounded by greenery.
A large white mansion with columns, blue awnings, and a landscaped garden in front.
A large, classical-style beige stone mansion with multiple windows and a manicured garden.
Less than 1 mile from the Atlantic Ocean and one hour from New York City and Philadelphia, Monmouth University’s beautiful coastal campus is at the heart of a vibrant region rich in history, the arts, technology, and entrepreneurship. This unrivaled location directly enhances the academic experience, providing students with hands-on learning, career development, and cultural opportunities.

At Monmouth, students study marine and environmental biology aboard one of the University’s four research vessels, taking full advantage of the University’s proximity to the ocean. They build their professional networks through internships at Fortune 500 companies in New York and Philadelphia. They pursue their artistic passions in Red Bank’s renowned theater district and Asbury Park’s legendary music scene, where artists such as Bruce Springsteen and Jon Bon Jovi got their starts. They give back through service-learning projects in coastal forests and on the sun-splashed beaches just beyond the campus’s main gate.

At the center of it all is Monmouth’s picturesque, 170-acre campus, which seamlessly blends historic charm with modern innovation. Anchored by two nationally recognized historic landmarks—the Great Hall and the Guggenheim Memorial Library—the campus retains its storied character while evolving to meet the needs of today’s students. Recent and ongoing enhancements, including the new Bruce Springsteen Archives and Center for American Music, an expanded OceanFirst Bank Center housing a dedicated Student Wellness Center, and a campuswide energy efficiency initiative projected to reduce energy usage by 25%, reflect Monmouth’s commitment to both tradition and progress. Even as the University continues to grow, it remains one of the rare debt-free higher education institutions in the country—bolstered by a recent Board of Trustees-approved $110 million investment in campus enhancements that required no long-term borrowing. The result: a world-class education in a financially responsible environment.

National Distinction

Monmouth Earns Research Classification

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onmouth University has secured recognition as a research college and university (RCU) in the 2025 Carnegie Classification of Institutions of Higher Education from the American Council on Education (ACE) and the Carnegie Foundation for the Advancement of Teaching, which recently updated their methodology to better account for and reflect the multifaceted, wide-ranging research landscape of higher education institutions in America.

Excellence. Access. Ambition.

Monmouth Launches $175 Million Campaign

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onmouth University has always evolved to meet the needs of its students and community. From its beginnings as a junior college to its current standing as a nationally recognized university, Monmouth has remained committed to academic excellence and access. Now, in an era of rising financial aid demands and increasing competition, the University is making its boldest move yet to secure its future and transform the lives of generations of students.

The final beam placement for the future home of the Bruce Springsteen Archives and Center for American Music was marked with a ceremony in March 2025.
Bruce Springsteen Archives and Center for American Music

A Landmark Year

T

he Bruce Springsteen Archives and Center for American Music celebrated a year of milestones in 2024, from breaking ground on its future home at Monmouth University to honoring music icons and launching a lecture series exploring the intersection of music and history.

Academic highlights from the previous year

Faculty & Student Achievement

Jeffrey Weisburg, Datta Naik, and Greg Moehring wearing white lab coats and posing together in a lab

Research Collaboration Advances Cancer Treatment Strategies

A

recently published study in Inorganica Chimica Acta highlights the work of Associate Professor of Chemistry Greg Moehring, Chemistry Professor Datta Naik, and Specialist Professor of Biology Jeffrey Weisburg, whose interdisciplinary research into rhenium-based molecules has shown promise in selectively targeting cancer cells. This long-running collaboration between the chemistry and biology departments not only explores potential advancements in cancer treatment but also provides undergraduate students with hands-on research experience.

The project began in 2017 when Naik identified a study on a unique rhenium molecule with potential anticancer properties. Intrigued, he and Moehring worked with students to synthesize and modify similar compounds, aiming to enhance their stability and effectiveness. The research gained momentum when Weisburg joined the team, testing these molecules on both oral cancer cells and normal cells to determine their ability to selectively kill cancer cells while sparing healthy ones. Their findings showed that two of the newly developed molecules maintained their stability long enough to be effective, mimicking the mechanisms of existing platinum-based cancer drugs.

New & Noteworthy

Campus updates, philanthropic highlights, key hires, and more from the previous year
a group of six students gathered around a rectangular fire pit filled with blue glass rocks roasting marshmallows on sticks.

Nagy Common Opens, Strengthening Monmouth’s Campus Life

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he University dedicated Nagy Common last fall, transforming the outdoor space adjacent to the Rebecca Stafford Student Center into a vibrant gathering spot complete with a firepit and ample seating. Made possible through a generous gift from President Emerita Rebecca Stafford ’03HN, who led the University from 1993 to 2003, the revitalized space enhances campus life by providing a welcoming venue for students, faculty, staff, alumni, and friends to gather, socialize, and host events.

The outdoor space honors Mary Anne Nagy ’91M, ’01M, who dedicated 37 years of service to the University, retiring as vice president of student life and leadership engagement in 2023. Throughout her tenure, Nagy championed student-centered initiatives; oversaw critical areas such as campus housing, student clubs, and wellness services; and served as a trusted advisor to multiple University presidents. Her legacy of leadership helped shape a more inclusive, supportive, and engaged student experience at Monmouth.

Portrait orientation outdoor photograph of an architectural detail of a stone archway with the Latin phrase that reads the following: CARPE DIEM which is carved above the arch, flanked by a stylized leaf carving, all illuminated by sunlight casting shadows

University Leadership | 2024

Senior Staff

Mary Byrne
Associate Vice President and Controller

Charlene K. Diana, Esq.
Vice President and General Counsel

Annette Gough ’16
Executive Assistant to the President and Board of Trustees

Amanda Klaus ’09
Vice President for University Advancement

Robert D. Mc Caig, Ed.D.
Vice President for Enrollment Management and Marketing

Emily Miller-Gonzalez, J.D.
Chief of Staff

Timothy Orr
Executive Director for Campus Planning and Facilities Management

James Pillar, Ed.D.
Vice President for Student Life

Joseph Pingitore ’00
Associate Vice President for Finance and Budgets

Zaneta Rago-Craft, Ed.D.
Director, Intercultural Center; Advisor to the President on Diversity and Inclusion

Jennifer Sansevero, J.D.
Director of Athletics

John Sonn
Associate Vice President and Chief Information Officer

Kathleen Stein ’10
Associate Vice President of Human Resources

Richard Veit, Ph.D.
Provost and Senior Vice President for Academic Affairs

DEANS

Shannon Clifford, Ph.D.
Acting Dean, Marjorie K. Unterberg School of Nursing and Health Studies

Joseph Coyle, Ph.D.
Interim Dean, School of Science

Raj Devasagayam, Ph.D.
Dean, Leon Hess Business School

David Hamilton Golland, Ph.D.
Dean, Wayne D. McMurray School of Humanities and Social Sciences

Wendy Harriott, Ph.D.
Interim Dean, School of Education

Golam M. Mathbor, Ph.D.
Interim Dean, School of Social Work

Jennifer Ross
Acting Dean, Honors School

Board of Trustees

Christopher D. Maher, Chair
Leslie N. Hitchner, Vice Chair
Tasha A. Youngblood Brown ’97, ’03M, Vice Chair
Stephen E. Gerard ’89M, Treasurer
Dean Q. Lin, FACHE, Secretary
Miles J. Austin III ’19
Michael V. Benedetto, Esq. ’90
John A. Brockriede Jr. ’07, ’10M
John C. Conover III
Karyn F. Cusanelli ’89
Mary Vaden Eisenstadt
Jeremy Grunin
Kanesha K. Jones ’03
Raymond G. Klose ’77
George Kolber
Mari C. Kovach ’82, ’86M
Patrick F. Leahy, Ed.D. (Ex officio)
Nancy A. Leidersdorff ’97
Alaina L. Love ’79
Lisa McKean
Thomas J. Michelli
Valerie Montecalvo
Tavit O. Najarian, Sc.D.
Bayaan A. Oluyadi ’13 (Ex officio)
David A. Reale ’96
Rocio F. Serey ’16
Christopher W. Shaw
Mark J. Skesavage ’11M
Carol A. Stillwell

LIFE TRUSTEES

Marianne C. Hesse
Harold L. Hodes ’65
William B. Roberts

TRUSTEES EMERITI

Stanley S. Bey ’59
Thomas D. Byer ’67
Alan E. Davis, Esq.
Judith Ann Eisenberg
Alfred L. Ferguson, Esq. ’13HN
Frederick J. Kaeli, Jr. ’61
Henry D. Mercer III ’87, ’17HN
Stephen M. Parks ’68, ’07HN
Charles T. Parton ’01HN
Jeana M. Piscatelli ’01, ’02M
Michael A. Plodwick ’82
Thomas A. Porskievies ’82, ’86M
Steven J. Pozycki ’73
Robert B. Sculthorpe ’63, ’15HN

FACULTY COUNCIL

Pedram Daneshgar, Ph.D., Chair Professor, Department of Biology

STAFF COUNCIL

Karen Mahoney, Chair
Assistant to the University Librarian

STUDENT GOVERNMENT

Tanner Purdy, President

1 As of Dec. 31, 2024

A look at the FINANCIAL Health of the University

Financials

Council of Independent Colleges Fiscal Year FIT Score

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he University annually reviews the Council of Independent Colleges’ Financial Indicators Tool (FIT) to assess the University’s financial health over time as well as compared to similar institutions. The FIT score presents a complete picture of an institution’s financial strengths and weaknesses and is a useful strategic indicator for institutions at various levels of financial health. The University’s FIT score is a measure of its overall financial strength based on the sufficiency and flexibility of resources, the management of debt, the performance of assets, and the results of operations. The FIT score falls along a scale of -4.0 to 10.0, and a score of 3.0 is the threshold of institutional financial health. For the past five years, the University continues to exceed the 3.0 threshold with an average score of 6.1.

graph showing Council of Independent Colleges Fiscal Year FIT Score
Through the strategic allocation of institutional resources, targeted efforts to secure external funding, and prudent spending practices, the University has continued to demonstrate financial stability. In fiscal year 2023, the University recognized an increase in total net assets of $21 million, outstanding debt was $1.3 million, and the market value of the University’s endowment increased to $139 million. Fiscal year 2024 results further strengthened the University’s financial reserves. The University recognized an increase in total net assets of $30 million, outstanding debt of $1.2 million, and an endowment market value of $153 million.
The University’s strong balance sheet—bolstered by low outstanding debt—positions the institution to use the coming years as a period of strategic transition. This financial strength enables thoughtful self-evaluation, adaptation, and planning to sustain long-term stability. Proactive financial planning and sound resource management provide a solid foundation to address the broader challenges facing higher education today while also creating opportunities for continued growth and innovation.

Investment Market Value as of June 30 ($ Millions)

graph showing Investment Market Value as of June 30

Outstanding Debt as of June 30 ($ Millions)

graph showing outstanding debt as of June 30
Through the strategic allocation of institutional resources, targeted efforts to secure external funding, and prudent spending practices, the University has continued to demonstrate financial stability. In fiscal year 2023, the University recognized an increase in total net assets of $21 million, outstanding debt was $1.3 million, and the market value of the University’s endowment increased to $139 million. Fiscal year 2024 results further strengthened the University’s financial reserves. The University recognized an increase in total net assets of $30 million, outstanding debt of $1.2 million, and an endowment market value of $153 million.

Investment Market Value as of June 30 ($ Millions)

graph showing Investment Market Value as of June 30
The University’s strong balance sheet—bolstered by low outstanding debt—positions the institution to use the coming years as a period of strategic transition. This financial strength enables thoughtful self-evaluation, adaptation, and planning to sustain long-term stability. Proactive financial planning and sound resource management provide a solid foundation to address the broader challenges facing higher education today while also creating opportunities for continued growth and innovation.

Outstanding Debt as of June 30 ($ Millions)

graph showing outstanding debt as of June 30
Portrait orientation outdoor photograph of a faded rusty lighter bronze eagle shaped statue with outstretched wings, perched on a stone base situated on top of a grassy surface ground with blooming pink cherry blossom trees nearby this eagle shaped statue and a building in the far distant background behind everything on a sunny bright clear day
Monmouth University Seal
Monmouth University
President’s Report
2024 Year in Review