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ALBION, MI – The Albion College Board of Trustees has extended President Wayne P. Webster’s contract for five years with an option for a three-year renewal, keeping him at the helm through June 30, 2031.
The extension comes as Webster, now in his third year, has overseen significant financial improvements at the Michigan liberal arts college.
The school has reduced its annual operating deficit by more than half from a projected $16 million in fiscal year 2024 and is on pace to lower it below $4 million next year.
Board Chair Joey Miller said the decision reflects Webster’s performance since taking office in July 2023.
“It’s inspiring to see Wayne’s continued excitement for what Albion can become. In just two and a half years, his leadership has helped propel remarkable collective progress across the college, and that momentum continues to build,” Miller said. “His love for this institution is unmistakable, and we are fortunate that his vision, talents, and energy will carry forward into our next chapter.”
Under Webster’s leadership, the college has increased net tuition revenue for incoming students by $2,500 over two cycles while reducing the discount rate by more than 4 percent.
First-year student persistence from fall to spring improved to 92.5 percent, up from 88 percent the prior year.
The college has also executed or initiated $11 million in expense reductions to align its budget with enrollment realities.
“I am honored by the board’s confidence in asking me to continue to serve and lead this tremendous college. Albion has made meaningful strides together — advancing new initiatives, building partnerships, and operating with a shared sense of urgency about our future,” Webster said. “I’m grateful to our faculty and staff whose dedication drives our success, and to our alumni and supporters whose partnership makes it possible.”
Philanthropic support increased by 50 percent from Webster’s first year to his second, and the college is on pace to reach a goal of $15 million in new gifts, pledges and deferred commitments this fiscal year.
The college has renovated 13 student-centered spaces and secured faculty endorsement of Experiential Learning for All, making experiential learning a graduation requirement. Webster also launched the Pathway Forward strategic and financial plan and introduced performance indicators to track mission, finance and student success.
Looking ahead, priorities include strengthening the liberal arts model, growing net tuition revenue, reaching a structurally balanced operating budget and enhancing student support systems to improve retention and post-graduation outcomes.
Webster also coordinated redirecting a $2.8 million Department of Housing and Urban Development grant from Washington Gardner School to site improvements throughout the city of Albion, including renovations at Opportunity High School and upgrades to community facilities, parks and recreation areas.
Generative AI was used to draft this story based on information provided by Albion College. It was reviewed and edited by MLive.
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