According to the Christian Post, at least 10 Christian colleges and universities may be financially unsustainable. Several others are at risk of falling into the same pit.

The Financially Sustainable University, by Jeff Denneen and Tom Dretler, examined financial stability based on two factors: expense ratio and equity ratio. Colleges with a high increase in expense ratio (expenses as a percentage of revenue) and a high decrease in equity ratio (total net assets, or assets minus liabilities, divided by total assets) are considered financially unsustainable.

The list of those at risk is a bit surprising. Most of them have been around for a long time, have pretty deep pockets, strong denominational affiliations, and high national visibility. Maybe they’re considered “too big to fail,” but we know where that got certain global financial giants in the past few years. Of course, unsustainability is variable status over time. Some modest changes in either direction might turn things around for any of those institutions at risk or creeping closer to trouble.

Here’s the list of the “financially unsustainable“:

  • Azusa Pacific University, Azusa, Calif.
  • Baylor University, Waco, Texas
  • Calvin College, Grand Rapids, Mich.
  • Catholic University of America, Washington, D.C.
  • Georgetown University, Washington, D.C.
  • University of Notre Dame, Notre Dame, Ind.
  • Palm Beach Atlantic University, West Palm Beach, Fla.
  • Regent University, Virginia Beach, Va.
  • Texas Christian University, Fort Worth, Texas
  • Westmont College, Santa Barbara, Calif.

Christian colleges and universities considered “at risk” include:

  • Colorado Christian University, Lakewood, Colo.
  • Covenant College, Lookout Mountain, Ga.
  • Houghton College, Houghton, N.Y.
  • Indiana Wesleyan University, Marion, Ind.
  • Oklahoma Baptist University, Shawnee, Okla.
  • Pepperdine University, Malibu, Calif.
  • Southern Methodist University, Dallas, Texas
  • Wheaton College, Wheaton, Ill.

Christian colleges and universities considered financially sound include:

  • Biola University, La Mirada, Calif.
  • California Baptist University, Riverside, Calif.
  • College of the Ozarks, Point Lookout, Mo.
  • George Fox University, Newberg, Ore.
  • Liberty University, Lynchburg, Va.
  • Oral Roberts University, Tulsa, Okla.
  • Union University, Jackson, Tenn.

Read more here.