Orbuculumbeta

Bowling Green State University-Main Campus

Bowling Green, OH
FY 2023-24 fragility
31
/ 100
moderate

Composite Fragility Score over time

Pillar trajectories

Operating Margin
(Operating revenue − operating expenses) / operating revenue. Industry-standard debt-rating heuristics — Fitch-style bands for privates, Moody's-aligned for publics. Score reflects current year and 3-year rolling average — single positive years don't erase chronic distress.
Amber dot = unusual single-year shift; smoothed metric attenuates impact. Hover for context.
Pricing Power
Real net tuition revenue per FTE, 5-year change. Falling real net tuition + rising discount rate = market rejection of value proposition. Discount rate is the all-student institutional rate (F2C05 + F2C06 funded + unfunded grants over gross tuition); schools typically publish a first-time-in-college rate which runs 5-10 points higher.
Amber dot = unusual single-year shift; smoothed metric attenuates impact. Hover for context.
Debt Burden
Viability ratio (expendable net assets / plant debt) with debt-acceleration penalty. Catches schools whose covenants are at risk because of recent debt issuance.
Amber dot = unusual single-year shift; smoothed metric attenuates impact. Hover for context.
Liquidity
Days cash on hand. Tuition-collapse override prevents 'deathbed cash' from misleading the score (high cash from emergency relief while school is shrinking).
Amber dot = unusual single-year shift; smoothed metric attenuates impact. Hover for context.

Institutional debt per student

Total institutional long-term debt (not student loans) divided by full-time-equivalent enrollment, nominal dollars. For public-university systems with centralized bond debt (UC, FL SUS), the system pool is allocated across sibling campuses proportional to FTE.

Long-term debt per FTE student · FY 2023-24
$15,713
$237.4M total debt ÷ 15,107 FTE
IPEDS-reported debt / FTE · trend
170% since FY 2004-05 ($5,815)

Latest-year debt per FTE student includes IPEDS-reported plant debt plus the LLM-enriched DSO snapshot (off-balance-sheet bonds at affiliated entities — typically FY 2024 audit values). For schools in public systems not yet in our curated map (CSU, UT, TAMUS, etc.), the system pool is currently attributed entirely to the flagship campus per the dedupe pass; per-student numbers at those flagships are overstated until allocation is added. The trajectory line shows IPEDS-reported debt only (no DSO) for consistency across years — DSO is a single audit-year snapshot, not a time series.

Athletics & enrollment

Share of undergrads who play varsity sports (EADA, U.S. Dept of Education). A rising ratio over time at a tuition-dependent private is the “athletic ratchet” — adding sports or expanding rosters to fill seats as enrollment pressure mounts. Snapshots taken at ~6-year intervals.

Varsity athletes as reported · AY 2024-25
3.6%
439 athletes ÷ 12,174 UG
NCAA Division I-FBS
% athletes · trend (3 snapshots)
1.0 pts since AY 2005-06 (2.6%)
Coaching footprint · AY 2024-25
16 head + 40 assistant = 56 total
1 coach per 7.8 reported athletes
Typical varsity-only programs run 6–10 athletes per coach. Ratios well below that often reveal off-roster recruiting pools (JV, developmental, club with serious recruiting) that don’t show up in EADA’s varsity headcount.

What EADA counts: a student who participated in at least one intercollegiate (varsity) competition during the academic year. Excludes redshirts, JV / developmental rosters, and club sports. The actual athletic-recruit footprint can be substantially larger than this count. At D3 schools, “athletic aid” reads $0 in EADA because institutional merit aid that functions as recruitment subsidy isn’t classified as athletic aid — so the discount-rate signal on this page is the right place to look for that money.

Peer-anchored estimated total athletes
3.4%
414 implied athletes ÷ 12,174 UG
vs 3.6% reported (439)
kept-peer range suggests 34% (369–461 athletes)
roughly in line with peer expectations
Algorithmic peers · trimmed mean 7.4:1 (kept range 6.6:18.2:1)
PeerUGRatio
Ball State UniversityIN13,0276.6:1
University of Louisiana at LafayetteLA(trimmed)11,2468.5:1
Western Michigan UniversityMI(trimmed)10,9716.5:1
Old Dominion UniversityVA13,5747.4:1
University of Nevada-RenoNV13,7728.2:1

Peers chosen by similarity score: same control + NCAA division weighted highest, plus Carnegie classification and UG enrollment band. The highest and lowest peer ratios are trimmed before averaging so one outlier doesn’t shift the range; the implied range is the school’s coach count multiplied by the kept peers’ min and max ratios, capped at UG enrollment.

Administrative spending

Institutional Support (administration) measured two ways, from IPEDS expense-by-function reporting: as a share of total operating expenses alongside Instruction (faculty/teaching), and indexed against net tuition revenue to show whether admin spending tracks the revenue that funds it.

Admin: 7.2% → 6.5% · Instruction: 33.5% → 41.6%

Instruction and Institutional Support as a share of total operating expenses. Instruction is the IPEDS faculty/teaching proxy; Institutional Support is the administrative proxy (executive management, finance, HR, general admin). A narrowing gap means admin is gaining on teaching.

Student-to-admin ratio · AY 2023-24
48.1:1
15,107 student FTE ÷ 314 full-time admin
64% above Carnegie peer average — leaner than peers
Carnegie reference
29.4:1
R2: Doctoral, High Research · n=97
Mean students-per-admin across schools in the same Carnegie classification (target excluded). Higher means leaner administrative footprint.

What “admin” means here: Management (OCCUPCAT 300) + Business and Financial Operations (OCCUPCAT 310) full-time staff — the “decision-making admin” headcount. Source: IPEDS S2023_OC survey (Fall 2023). This is a headcount metric, not a dollar metric, so it isn’t contaminated by regional salary differences. Not part of the fragility score; surfaced as descriptive context only.

Latest-year breakdown (FY 2023-24)

PillarRaw MetricScore
Operating Margin13.7%0 / 25
Pricing Power$10,847 real net tuition / FTE25 / 25
Debt Burden1.74 viability ratio6 / 25
Liquidity310 days cash on hand0 / 25

Peer schools

Closest by Fragility Score in FY 2023-24. Financial similarity only — geographic / regional clustering is a separate (future) feature.

Selected raw financials — FY 2023-24

GASB / IPEDS Finance F1A. DSO totals from LLM enrichment of audited financial statements; see /sources for citations.

Total revenue (F1B27)
$421.2M
Total expenses (F1C191)
$433.4M
Net tuition revenue (F1B01)
$163.9M
Auxiliary enterprises revenue (F1B05)
$79.5M
State appropriations (F1B11)
$85.0M
Endowment EOY (F1H02)
$236.6M
Long-term debt (F1A10)
$237.4M
Expendable net position (F1N05)
$412.0M
Interest expense (F1C19IN)
$9.0M
DSO debt — campus-specific
DSO debt — system-level pool