Annual Report to Investors - The American College

Dear Friend of Our College:
This is my final letter to you as President and Chief Executive Officer of The American College.
A decade ago, our College faced very serious issues. After accepting the role of President in 2003, but before arriving
in Bryn Mawr, I enrolled in the Essentials of Life Insurance course so I could begin to understand the student experience.
When a box arrived in San Francisco a week later, there were two books and eight cassette tapes. My wife Eliza and I
struggled to find a Radio Shack in the Bay Area that even sold cassette players! That was the beginning of an awakening:
a great institution was tired. It had not kept pace... with technology… in faculty development… with financial
discipline… in making courageous decisions.
Thanks to hundreds of wonderful men and women, we rallied.
Members of our Board of Trustees and Foundation Board supported a vision that required we monetize our
physical campus so we could reinvest in the dream of Dr. Solomon S. Huebner, the founder of The American College.
As a result, we introduced five new centers of excellence in veterans’ affairs, women’s studies, retirement, practice
management and ethics. We recruited top faculty members from other institutions. An Alumni Association, allowing
graduates to connect and learn with live programs nationally, was introduced. We then built TheWealthChannel.com
and The Wealth Channel Magazine to keep learning alive, pertinent and as close as your mobile device. We developed
the nation’s first Ph.D. in Financial and Retirement Planning. These and other efforts enhanced a remarkable citadel
of learning.
These actions also required unpopular decisions. I had to freeze a defined benefits plan for all employees and an
overly generous retiree package that included lifetime medical coverage for employees and their spouses. Over 100
people out of approximately 240 persons were eventually replaced within our ranks as skill sets and our financial
status were scrutinized. Some decisions led to toxic accusations by reckless people who claimed to love The College,
but whose personal agendas were transparent.
Somehow, thanks to leaders from great organizations and many independent advisors, we remained focused on
“What would Dr. Huebner do” Ultimately, rebuilding The College and then embarking on the One Person campaign
to achieve $50 million in new funding became a magnet for a sense of “I Believe.”
In the next phase of my life, I am excited to now serve as Chancellor of The American College and continue as the
O. Alfred Granum Chair in Management. This allows me to serve our institution in a capacity of thought leadership,
and my first passion, that of teacher.
To each of you, for your engagement and generosity, thank you. Your stewardship ensures that The College will
continue to thrive and change - always forward looking - as higher education itself experiences rapid transformations.
It has been an exciting and rewarding decade… and, with your continued support, the best is yet to come.
Sincerely,
Larry Barton, CAP ® , Ph.D.
2004
MSM Reinvigorated
Only two students were enrolled in a dying program
when the Masters of Science in Management degree
was resurrected with a new emphasis in leadership.
The first class with this new emphasis graduated in
June 2005.
First Knowledge Summit Held
The first major Knowledge Summit educational
event was held in conjunction with commencement
ceremonies on December 6, 2004 in New York City.
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