The university is disappointed that The Loyolan chose to publish an opinion piece by an anonymous author—a rare decision in journalism reserved for instances when a writer’s safety or livelihood is at risk. The absence of the writer’s identity leaves readers unable to determine their credibility or motive, and The Loyolan’s failure to investigate the writer’s claims and assumptions with thorough reporting and critical analysis has resulted in a piece fraught with errors, conflations, and misleading statements and conclusions.
LMU’s financial health and endowment performance remain strong, rated with the nation’s best higher education institutions:
- LMU’s financials are externally audited annually by PricewaterhouseCoopers, and LMU’s financial statements are publicly available.
- LMU maintains an impressive A2 rating from Moody’s Investor Service, which praises the university’s budget oversight, scenario planning, and strategic positioning. In its August 2019 Credit Opinion, the firm writes that LMU “engages in conservative budgeting and well exceeds budgeted expectations from year to year.”
- Universities pay out of their endowments at different rates and with different strategies. LMU spends at a higher rate than other universities to support academic programs and student services, thus slowing the endowment’s growth, but honoring LMU’s mission, values, and commitment to serving students.
LMU has set all-time high fundraising records over the past five years; the fair market value of the endowment on its own is not an indicator of fundraising performance. Under President Snyder’s leadership, LMU has raised more money on an annual basis than his predecessors, with all-time record-setting three- and five-year fundraising averages.
In the spirit of LMU’s mission and transparency, the university offers corrections to the errors found in the anonymous editorial. The university encourages The Loyolan to reflect upon its decision to provide anonymity to a source who appears to possess limited knowledge of the subject matter. LMU hopes that with discernment, The Loyolan considers how diligent reporting, full transparency, and thoughtful analysis could have produced the fuller, more accurate story its readers deserve and journalistic integrity demands.