Union Commonwealth University is on track to close Fiscal Year 2025-26 with a balanced operating budget without drawing from its endowment, marking the first time in eight years the institution has achieved this important financial milestone.

The accomplishment reflects a multi-year commitment to responsible financial stewardship, strategic planning, and collaborative leadership across the university. Unlike many institutions facing financial pressures, Union achieved this progress without reducing its workforce, preserving the faculty and staff who remain central to the university's mission and student experience.

"This milestone represents far more than a balanced budget. It reflects the dedication, discipline, and shared commitment of our faculty, staff, coaches, trustees, alumni, and community supporters who believe deeply in Union's mission,” said Union Commonwealth University President, Dr. DJ Washington.

President Washington credits the achievement to a combination of disciplined financial management, enrollment growth, fundraising success, and careful decision-making that positioned the institution for long-term sustainability.

Among the steps taken to strengthen the university's financial position were the hiring of Chief Strategy and Financial Officer Rafael Forti, a Union alumnus and former business chief financial officer, and the establishment of a Budget Control Committee composed of senior university leaders, including the president. Together, these efforts have enhanced financial oversight, improved planning, and reinforced a culture of fiscal responsibility across the institution.

The university also extends its gratitude to the Board of Trustees, whose leadership and oversight helped guide Union through a period of financial transformation. Special recognition is also due to the university's finance and development teams, whose work strengthened operations, improved efficiencies, increased philanthropic support, and helped position the institution for long-term success.

Board Chair Mike Goss praised the collective effort behind the achievement.

“While many small universities are struggling and closing, we know the path to success is through fiscal responsibility,” said Goss. “Dr. Washington and staff are to be commended for this remarkable turnaround.”

Achieving a balanced budget did not come at the expense of student investment. During this same fiscal year, Union invested approximately $2.3 million in local students through the Knox County Pathway, which provides free tuition to eligible Knox County graduates. The university remains committed to sustaining the program as part of its mission to expand educational opportunities throughout the region.

“We have demonstrated that it is possible to strengthen our financial foundation while continuing to invest in our people, our students, and our future,” added Dr. Washington.



As the University looks ahead, leadership remains focused on maintaining fiscal responsibility while continuing to invest in academic excellence, student support, campus improvements, and initiatives that strengthen the institution's impact throughout Appalachia.