WASHINGTON, D.C., July 28, 2017 (Newswire.com) - The Howard University Board of Trustees announced earlier today the extension of President Wayne Frederick's contract until June 30, 2024 — a five-year extension of his original agreement.
"President Frederick has been a transformational leader for Howard University and the entire Board of Trustees is excited to continue to work together in service to our community in the years ahead," Board Chair Stacey Mobley said. "Because of his visionary leadership, Howard has made great strides in advancing the academic progress of students, enhancing faculty experience, and stabilizing the university's financial position."
President Frederick has been a transformational leader for Howard University and the entire Board of Trustees is excited to continue to work together in service to our community in the years ahead.
Stacey Mobley, Howard University Board Chair
After serving the University as interim president for more than a year, Dr. Frederick was inaugurated as the 17th president of Howard University on March 6, 2015 after an exhaustive national search.
"President Frederick has made tremendous progress in forwarding Howard's goals and the mission of the university. We are confident that this positive and exciting momentum will continue," said Vice Chair Mark Mason. "It was incredibly important to the Board that we take a long-term approach and avoid the instability of leadership that seems to be an unfortunate trend today in higher education. Howard deserves a strategic leader and we have that in President Frederick."
According to Board Chair Stacey Mobley, "Throughout his tenure, President Frederick has successfully led innovative efforts to modernize the institution while ensuring Howard continues to uphold its historic mission. Howard is amid incredible transformation. The president has many accomplishments to date, and this extension will ensure we continue moving in the right direction." The accomplishments include:
Development of strategies that optimize impact and drive transformation and modernization
- In January 2016, under Frederick's leadership, the University embarked on a strategic planning process to forward a long-term transformation strategy.
- Diversified revenue streams to support the continued vitality of the University.
- Successful management of a $1.5 billion real estate portfolio, which includes generating capital for the University while retaining asset ownership, optimizing the value of underutilized real estate assets and modernizing the campus environment to benefit faculty, staff, students and neighboring communities.
A dramatically improved financial position for the University and the hospital
- FY2016 saw Howard's strongest financial performance in five years, with a gain from operations of almost $12 million. Operating revenues stabilized in FY2016, and operating expenses were decreased by 8 percent compared to FY2015.
- Financial performance at Howard University Hospital has vastly improved over the past two years, and the hospital is now profitable and stable.
Advancements in Faculty and Staff Experience
- Established the Office of Faculty Development to improve the quality of faculty life related to teaching and research, career development, and professional satisfaction.
- Demonstrated faculty and staff retention as a priority. Increased compensation of both over tenure, despite budget constraints.
- Implemented monthly faculty forums, summer academy and other initiatives to nurture development of junior faculty.
- Improved faculty onboarding and orientation.
- Conducts monthly meetings with faculty senate and staff organization leadership to foster collaboration on key priorities.
Significant progress of key academic measures
- Howard is now ranked as a Tier 1 national university by U.S. News & World Report and ranked #124, up 21 spots since Frederick's tenure began.
- In 2017, U.S. News & World Report cited Howard as one of only two institutions with the greatest improvement in National University rankings between 2015 and 2017.
- Howard's four-year graduation rate has increased year over year since his appointment.
- Established the Office of Honors and Scholar Development to increase access of prestigious academic awards for students. Specifically, over the last 30 years, Howard students have received 90 awards. Under Frederick's tenure 163 students were selected for prestigious scholarships and or fellowships.
Development of Innovative Programs
- Launch of Howard West campus, a strategic partnership with Google designed to immerse students in educational and professional experiences taught by Google staff and Howard professors.
- Established the Bison STEM Scholars program to increase the number of underrepresented students in STEM masters and masters/doctorate programs, keeping with Howard's legacy of providing a diverse pipeline of STEM talent.
Increases in Enrollment, Fundraising and Student Aid
- Enrollment is growing, and Howard will welcome the largest Freshman class in its history this Fall.
- The 2017 Charter Day Dinner raised $1.2 million in net proceeds to aid students in need, the most ever in the history of the event.
- The alumni participation rate has increased year over year since Frederick's appointment, and more than doubled in four years.
- Howard University has significantly advanced its goal of increasing the level of financial aid it provides to its students and their families. In FY2016, Howard awarded to its students over $101 million in University-provided financial aid. As recently as FY2009, Howard disbursed just $40 million a year in University-provided financial aid.
"I am thrilled and honored to continue to serve as President of Howard University, my alma mater and a place so special to me," said Frederick. "I truly appreciate the confidence the Board of Trustees has shown in me through this extension and I can't wait to continue working with my exceptional colleagues in the faculty and on staff to ensure the University is well-positioned for continued success in the decades to come. We have made a lot of progress but there is still so much work to be done. Our students and faculty deserve the very best and I'm committed to working in concert with all members of our community, including alumni, to ensure that our alma mater is the best that higher education has to offer."
A full biography of President Frederick can be found here.
About Howard University
Founded in 1867, Howard University is a private, research university that is comprised of 13 schools and colleges. Students pursue studies in more than 120 areas leading to undergraduate, graduate and professional degrees. The University operates with a commitment to Excellence in Truth and Service and has produced four Rhodes Scholars, nine Truman Scholars, two Marshall Scholars, one Schwarzman Scholar, over 60 Fulbright Scholars and 22 Pickering Fellows. Howard also produces more on-campus African-American Ph.D. recipients than any other university in the United States. For more information on Howard University, please visit www.howard.edu.
Source: Howard University