“This award reflects the dedication of the entire team here at Adelphi,” said Rhattigan. “Our focus has always been on building a resilient financial foundation for the University. Through long-range planning, including our recent $106 million bond offering, alongside major expansions like our new Manhattan Center, we are ensuring Adelphi is built to thrive for years to come.”

Leading Adelphi’s financial portfolio since 2022, Rhattigan has seen the University through challenging times in higher education and has kept it on a steady course, showcasing solid growth, stable finances and exceptional financial leadership. According to Rhattigan, “The three primary keys to Adelphi’s success: transparency, widespread partnership and thinking ‘university first’ rather than ‘department first.’”

Before joining Adelphi, Rhattigan spent more than a decade leading two eLearning platforms in K–12 education, which he helped expand into approximately 30,000 schools worldwide. He previously directed a consolidation of broadcasting stations, successfully executing equity and debt financing, restructuring and cost management. Rhattigan began his career at Andersen Consulting and worked in Europe, helping clients implement controls, processes and technology to transform their organizations. He later worked in debt securities at JPMorgan. Rhattigan has an undergraduate degree in business administration from the University of Notre Dame and an MBA from the MIT Sloan School of Management.

Rhattigan joins fellow from organizations including Jovia Financial Credit Union, Stony Brook Medicine, Discover Long Island and Teachers Federal Credit Union. A ceremony celebrating this year’s awardees was held at Crest Hollow Country Club on May 21.

Learn more about Rhattigan’s winning financial strategy.

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As the first Adelphi alumnus and parent—and the first Long Island native—to serve as president of the University, Balboni is intimately familiar with the transformative power of an Adelphi education. He graduated cum laude from the University in 1981 with a degree in biology and is the proud parent of an Adelphi alumna. Throughout his career, he has continually served his alma mater, including as an adjunct faculty member and, most recently, as a distinguished member and chair of the board of trustees.

Balboni emerged from a national search as the leader best positioned to secure public-private partnerships, champion the University regionally and nationally, and drive institutional growth. A defining hallmark of Balboni’s career—from his roles in government to corporate boardrooms—has been his ability to build relationships, work with experts and forge consensus. He steps into the presidency fiercely committed to shared governance, protecting academic freedom and ensuring that the Adelphi campus remains a vibrant, inclusive environment for all students and faculty to thrive in.

In tandem with this announcement, Adelphi’s board named Christopher K. Storm Jr., PhD, who has served as Adelphi’s interim president since last June, to the newly created role of senior executive vice president of academic affairs and provost. This complementary leadership structure allows the provost to focus internally on teaching, research and student outcomes, while President Balboni manages the complex operational and external facets of the University.

“The landscape of higher education is undergoing rapid and profound changes,” said William Fuessler ’79, acting chair of the board of trustees and chair of the University’s Presidential Search Committee. “To thrive, Adelphi requires a president who is a relentless external advocate and a proven executive. Michael possesses the exact blend of operational strength and external advocacy we need.”

“I am thrilled to be returning to my alma mater to lead a community that means so much to me. It truly is a full-circle moment,” said president-elect Balboni. “I have watched how the University has progressed, and I look forward to working with Dr. Storm and the entire community to take Adelphi to new heights as the premier institution of higher learning on Long Island.”

“It has been a tremendous honor to serve as interim president of Adelphi, where I have spent my entire 20-year career,” shared Dr. Storm. “The past year provided me with new opportunities to deepen my connections across campus while maintaining the University’s strong, stable footing before taking our next leap forward. I very much look forward to working with Michael Balboni as we embark on a bold new direction for Adelphi.”

Balboni assumes leadership at a time of remarkable advancement and financial strength for Adelphi. The University boasts a balanced budget, a $282 million endowment and a highly successful $100 million fundraising campaign that is nearing its goal. Underscoring this position of strength, Adelphi has achieved record enrollment in two of the past three years and is launching an ambitious infrastructure initiative to further support student and faculty success.

������ý continues to elevate its academic profile. Recognized by Forbes as the premier private university on Long Island, the institution pairs this academic prestige with its reputation as one of the safest campuses in America and an NCAA Division II athletics powerhouse. Looking ahead, the University is actively expanding its regional impact through the new Manhattan Center on Fifth Avenue in New York City, delivering high-demand graduate programs in artificial intelligence, business, nursing, social work, psychology, literature and education to meet the evolving needs of the modern workforce.

Learn more about President-Elect Balboni’s appointment.

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It was just four years ago, in the spring of 2022, when Adelphi’s annual Giving Day first reached $500,000 in donations. Two years later, it set a new record of $684,000. Another big jump last year raised the bar to $886,000.

But nothing compares to the totals set this spring, when donations rocketed to $2.28 million, including $1.07 million in outright commitments and $1.2 million in planned gifts. The generosity was spread across the University, as every academic unit and key campaign reached or exceeded its individual fundraising target.

“With 1,580 donors and 1,626 gifts, our community demonstrated the true impact of investing in the University we believe in,” said Thomas Kline, EdD, Adelphi’s vice president of University advancement and external relations. “This remarkable generosity is a powerful testament to the transformative potential of our Momentum Campaign: Extraordinary Impact. We are filled with deep gratitude and hope for the future of Adelphi.”

1,896 Minutes—and Reasons—to Give

As it has since Adelphi’s 125th anniversary, Giving Day has lasted a few more than 24 hours, extending to 1,896 minutes to reflect Adelphi’s founding in 1896.

While the timing has changed, Giving Day at Adelphi has continued to benefit programs and causes across the University. Donations are made to each of the University’s colleges and schools, athletic programs, the Bridges to Adelphi program for students on the autism spectrum, and causes including the ������ý Fund, Performing Arts Center, Innovation Center, SPARK Center for undergraduate research, ������ý NY Statewide Breast Cancer Hotline & Support Program, and Panthers Pay It Forward Campaign.

A new challenge was added to Giving Day this year as well—planned giving. Thirteen people, including four anonymous donors, met the challenge and committed a total of $1.2 million dollars. The University is proud to recognize all 13 donors as members of the ������ý Forever Gold Society.

There are many other highlights of this year’s giving.

The ������ý Honors College received a $45,000 gift from alumni Carole ’64 and Neal ’63 Stuber, and the Robert B. Willumstad School of Business led the University’s eight schools and colleges, raising $67,335, with generous matching gifts from its Dean’s Advisory Board, Trustee Kevin Mahony ’83 and an anonymous donor. , always supported by Panther fans, raised $268,504, including $52,775 for men’s soccer and $45,630 for the men’s golf program.

Every current member of the ������ý Board of Trustees participated, reflecting their ongoing commitment to Adelphi’s mission. Close to 1,600 donors in all showed their support for Adelphi, including alumni, students and their families, faculty, administrators, staff, and friends of the University. The funds raised will continue advancing ������ý’s 130-year-old mission to transform student lives through exceptional hands-on learning, extraordinary student experiences, accessible scholarships and academic resources.

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“With 1,578 donors and 1,613 gifts, our community demonstrated the true impact of investing in the University we believe in,” said Thomas Kline, EdD, Adelphi’s vice president of University advancement and external relations. “This remarkable generosity is a powerful testament to the transformative potential of our Momentum Campaign: Extraordinary Impact. We are filled with deep gratitude and hope for the future of Adelphi.”

The ������ý Honors College received a $45,000 gift from alumni Carole ’64 and Neal ’63 Stuber, and the Robert B. Willumstad School of Business led the University’s eight schools and colleges, raising $67,335, with generous matching gifts from its Dean’s Advisory Board, Trustee Kevin Mahony ’83 and an anonymous donor. , always supported by Panther fans, raised $250,934, led by men’s golf.

Rooted in Adelphi’s founding year, “1,896 Minutes to Give” is a call to action for the University’s alumni, students, faculty, administrators and friends to support the meaningful causes that strengthen every aspect of the institution. Every current member of the ������ý Board of Trustees participated, reflecting their ongoing commitment to Adelphi’s mission. And the University’s first-ever planned giving challenge inspired 13 people, including four anonymous donors, to make new or increased commitments totaling $1.2 million.

The funds raised will continue advancing ������ý’s 130-year-old mission to transform student lives through exceptional hands-on learning, extraordinary student experiences, accessible scholarships and academic resources, and . Additionally, funding sustains meaningful community programs like Bridges to Adelphi and the ������ý NY Statewide Breast Cancer Hotline & Support Program.

Learn more about .

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������ý has been selected as a partner institution in New York City’s inaugural undergraduate scholarship program for municipal employees, by Mayor Zohran Kwame Mamdani and Department of Citywide Administrative Services (DCAS) Commissioner Yume Kitasei. , traditionally focused on graduate education, now includes undergraduate degrees to meet the growing demand among city employees seeking to advance their education. Adelphi is among 10 partner institutions offering tuition support, alongside Columbia University School of General Studies, CUNY Lehman College, Fordham University and Purchase College (SUNY). Scholarships are funded directly by the participating schools. Full-time city workers can apply for the program through April 27, 2026.

“The opening of our new Manhattan Center at 529 Fifth Avenue marks a pivotal moment for ������ý, connecting Garden City to Grand Central Station,” said Christopher Storm, PhD, Adelphi’s interim president. “Coupled with our proud inclusion in Mayor Mamdani’s groundbreaking undergraduate scholarship program, we are eliminating barriers and opening doors for the next generation of leaders. Adelphi is more committed than ever to providing a personal, powerful and professional education right in the heart of New York City.”

Applications to the city’s graduate scholarship program have increased more than 30 percent over the past two years. Participating institutions collectively award between $360,000 and $530,000 in scholarships to city employees annually.

“Our city moves when our workers do,” said Mayor Mamdani in a news release. “For more than 60 years, this program has shown that when you make education accessible, working people seize the opportunity. By expanding it to include undergraduate degrees, we are investing in a new generation of public servants who act ambitiously, think creatively and believe firmly in government’s power to deliver for the many.”

In addition to Adelphi’s scholarship program with New York City, the University has also announced the $10,000 Manhattan Advantage Award, significantly reducing tuition for students enrolling in the University’s career-focused master’s degree programs at the Manhattan Center starting in Fall 2026.

Learn more about ������ý’s Manhattan Center programs and the Manhattan Advantage Award.

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As a liberal arts student, Jordan developed the analytical discipline and critical thinking skills that prepared him for law school and a successful legal career that spanned decades, including 35 years in the healthcare industry. He retired in 2009 and has always credited Adelphi with providing the foundation for his success.

Mark W. Jordan ’63 shares a quiet moment with his granddaughter, reflecting the family values and future generations his philanthropy at Adelphi helps support.

Establishing a Scholarship for Honors College Students

In 2013, Jordan established the Mark W. Jordan Scholarship to support Honors College students with strong academic promise and demonstrated financial need. His goal was simple: to help students experience the same transformative opportunity he received—an Adelphi education supported by scholarship assistance that allows them to focus on learning, growth, and possibility.

Reflecting on his commitment, Jordan said, “The education I received at Adelphi shaped my career, my path, and my leadership. Giving back each year is one way I can help ensure students today have that same foundation for opportunity.”

Growing Impact Through the Momentum 2 Endowment Match Campaign

Jordan deepened that commitment in 2022 when he became the first donor to participate in Adelphi’s Momentum 2 Endowment Match Campaign. With a $25,000 pledge to grow his scholarship, his gift was matched by the University—immediately doubling its long-term impact for students. His early participation helped set the stage for more to follow.

As part of the University’s Momentum Campaign: Extraordinary Impact, the endowment match initiative has helped expand scholarship support and strengthen Adelphi’s long-term investment in student success. By the end of the campaign’s third year in 2025, it had generated $6.4 million, created 56 new endowed funds, and strengthened 38 existing ones.

Today, Jordan remains deeply engaged as a lifelong learner and educator, delivering lectures on subjects as varied as Shakespeare, the Lewis and Clark Expedition, Sir Ernest Shackleton and the Mutiny on the Bounty at institutions including the University of California, Berkeley; Santa Clara University; the University of South Carolina; and California State University, East Bay, as well as the Walnut Creek Library Foundation, which he and his wife, Cindy, also support. They spend much of their free time traveling and have visited all seven continents.

Leadership Giving

Because his giving reflects the many ways philanthropy can take shape in support of Adelphi’s mission, Jordan is recognized in all four of ������ý’s Leadership Recognition and Giving Societies (LEAD):

• the Levermore Leadership Society, recognizing annual giving of $1,000 or more,
• our Eighteen-Ninety-Six Roundtable Society, honoring lifetime giving totaling $100,000 or more,
• ������ý’s Forever Gold Society, thanking alumni and friends whose estate plans or planned gifts include the University,
• and the Dedicated Panther Society, celebrating donors who give every year.

Across his endowed scholarship, annual giving, and planned gift, Jordan’s generosity will advance the priorities that shape our University’s future: scholarships, academic excellence, life-changing student experiences, a modern and beautiful campus, and a diverse and vibrant community. His story reflects the powerful cycle of philanthropy—students supported by Adelphi who later return to create opportunity for those who follow.

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In recognition of her extraordinary generosity, the University has named the Center’s recital hall in her honor—the Lee Steinberg Recital Hall.

“Lee Steinberg’s legacy gift reflects a deep belief in the transformative power of the arts,” said Tom Kline, EdD, vice president of University advancement and external relations. “Her generosity strengthens not only our facilities, but the student experiences and creative opportunities that define Adelphi’s performing arts community.”

“The Lee Steinberg Recital Hall honors Lee’s commitment to a legacy of inspiring student performers and audiences for generations,” said Blyth Daylong, executive director of ������ý’s Performing Arts Center.

A Lifelong Commitment to the Arts in New York

The gift, received in July 2025 from Ms. Steinberg’s estate, places her among the members of Adelphi’s Million Dollar Roundtable, which recognizes our most generous donors with cumulative giving exceeding $1 million. Steinberg died in 2021 at the age of 106. Through her bequest, she expressed her wish to support arts programming and performance centers on Long Island, continuing a lifetime commitment to cultural institutions throughout the greater New York region.

Planned giving has flourished at Adelphi in recent years. In Fiscal Year 2024–2025, the University’s pipeline of documented future support exceeded $40 million. All levels of leadership giving at Adelphi are shaping the long-term strength of academic programs, student opportunities and institutional excellence.

In accordance with Steinberg’s intent, the University has established two funds to support the Performing Arts Center—the Lee Steinberg Performing Arts Center Capital Fund for immediate physical improvements and the Lee Steinberg Performing Arts Center Excellence Endowed Fund to provide permanent, flexible support for the Center’s ongoing capital, programming and operational needs. This generous gift reinforces Adelphi’s reputation as a preeminent leader in arts education and performance in our region.

Applause for Improved Lighting, Seating, Flooring and Acoustics at Adelphi’s Performing Arts Center

Enhancements to the Center will elevate the experience of student performers, faculty directors, guest artists and audience members. Several capital improvements have already been funded through an initial $500,000 allocation, including:

• A comprehensive refresh of the Olmsted Theatre, featuring new lighting, audience seating, carpeting, acoustic panels and painting, as well as the installation of a new digital sound mixing console
• Brighter lighting in the Center’s second-floor dance studios
• New house lights and work lights in the Concert Hall

Beginning in 2027, annual distributions from the endowment will provide sustained support for artistic programming and facility excellence.

Steinberg briefly served on Adelphi’s Performing Arts Council and remained committed to supporting the arts throughout her life. Her bequest ensures that generations of Adelphi students will continue to learn, perform and thrive in spaces designed for excellence in the arts.

Advancing The Momentum Campaign: Extraordinary Impact

This seven-figure investment advances Adelphi’s Momentum Campaign: Extraordinary Impact, demonstrating how philanthropic leadership translates into visible improvements, strengthened programs and lasting institutional growth. Through leadership gifts like Steinberg’s, Adelphi continues its mission to transform students’ lives and reinforces its role as a cultural anchor on Long Island.

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A significant portion of the project will concentrate on Adelphi’s Hagedorn Hall of Enterprise and the Science Building. These facilities are slated for essential technical upgrades, including new windows, high-efficiency HVAC systems and chilled water plants. The project also addresses a backlog of deferred maintenance to ensure the long-term integrity of campus buildings and utilities.

“We’ve entered a transformative era for Adelphi. By leveraging our robust endowment returns and the advantage of current low interest rates, we are prioritizing high-impact strategic investments that would otherwise be out of reach,” said Michael Rhattigan, Adelphi’s vice president of finance. “This is an investment in Adelphi’s excellence that will yield significant dividends for our students and community for years to come.”

The Town of Hempstead Local Development Corporation (LDC) on Tuesday, February 3, announced that it approved the sale of up to $125 million in on behalf of Adelphi. The LDC provides low-interest, tax-exempt bonds to not-for-profit, educational institutions, hospitals, civic entities or charitable organizations within the town.

“There is no doubt that the sale of these new bonds will benefit ������ý, its students and have a positive impact on the economics of the surrounding communities,” Fred Parola, executive director of the LDC, said in a news release about the.

These campus upgrades ensure that Adelphi students receive an exceptional academic experience. In addition, Adelphi’s new long-term lease for the Manhattan Center establishes a vibrant hub for graduate studies, strategic partnerships and expanded career opportunities in New York City.

Strategic Investments for a Stronger Future

The ������ý Board of Trustees and executive leadership view both new investments as essential for strengthening the University’s long-term financial health:

“The board viewed this as a necessary and timely window of opportunity. To fulfill our long-term strategic plans, we must be willing to make bold investments that strengthen our foundation,” said Greg Carey, Adelphi trustee and chairman of public finance and global co-head of sports franchise at . “This decision reflects our absolute confidence in Adelphi’s trajectory and our commitment to providing a premier environment for higher learning.”

������ý is reaffirming its commitment to strategic growth and modernization following a Standard & Poor’s (S&P) Global Ratings Research Update issued on January 30, 2026. The agency gave the University a long-term bond rating of BBB+.

S&P assigned Adelphi a ‘stable outlook’ and affirmed Adelphi’s strong enterprise risk profile, validating the institution’s careful, long-term approach to its financial and academic mission.

“The ‘stable outlook’ designation from S&P Global Ratings gives our students and families peace of mind. It reinforces that Adelphi remains a safe investment and Adelphi is a great place for students to grow, learn and belong to a community that is built to last,” noted Interim President Christopher Storm, PhD.

������ý plans to begin the project by March, with most of the work to be conducted during the summers of 2026, 2027 and 2028. The University expects to complete the work in 2029.

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Overseeing the Four Essential Parts of University Finances

According to Michael Rhattigan, Adelphi’s vice president of finance, university finance resembles a four-legged stool supported by reporting and compliance, day-to-day operations, investments, and financing. Most universities and organizations are lucky to have trustees with experience in one or two of these areas. Rhattigan says that Adelphi has trustees with expertise in all four.

“This concentration of financial expertise on the board—especially across all four key areas—is exceptionally rare,” he said. “It’s a testament to the history and strength of Adelphi’s education, since nearly every trustee was either an accounting or finance graduate of the University. This robust group significantly enhances the board’s capacity to meet its fiduciary responsibilities and provides the finance team with invaluable access to an unparalleled source of experience and guidance.”

Experts in Reporting, Reviewing and Complying With the Law

The reporting and compliance process involves conveying the University’s financial activities and performance to the board of trustees, government agencies and external institutions to gauge Adelphi’s performance and compliance. The financial results need to be reviewed and audited by third parties to confirm their accuracy, and Adelphi has two trustees with specific experience in this area: Mark Davis ’85, a retired audit partner at , and Humera Qazi ’93, board vice-chair and a former managing director at and now a managing director at .

“My foundational rigor at a Big Four firm, which offered deep exposure across diverse sectors, has been significantly amplified by my current operations leadership responsibilities at Morgan Stanley,” Qazi said. “It is profoundly rewarding to leverage this elite financial, operational and advisory experience to contribute back to Adelphi, where my journey began.”

Keeping a Watchful Eye on Day-to-Day Operations

Operations involve all day-to-day financial aspects at the University, including budgeting, accounting, cash management, purchasing and payroll. Adelphi has three trustees with specific, relevant experience: Loretta Cangialosi ’80, a retired senior vice president and controller at who is an emerita board member still working on the Finance and Investment Committee; Michael Sammis ’81, retired president, EVP Operations and CFO at Universal Music; and Alexandria Cisco ’15, business architecture manager at Accenture.

“As a former senior manager at a Big Four accounting firm and senior finance executive at Pfizer, I understand the financial discipline required in regulated sectors,” Cangialosi said. “The pharmaceutical industry has navigated long lead times, intense regulatory scrutiny and significant market competition. These are the very trends now reshaping higher education. It has been exciting to leverage this experience to strengthen our University’s financial strategy, ensuring we successfully navigate this evolving landscape while maintaining our fiduciary excellence.”

Making Safe, Smart Investments to Ensure a Stronger Adelphi

Investments involve managing the University’s endowment for current needs, like scholarships and academic programs, as well as strategic investments in the future. Trustees Doug Flynn ’89, co-founder of , and Kevin Mahony ’83, senior vice president of Eagle View Wealth Management at , utilize their expertise in this area to plan for the University’s future.

Flynn, who co-founded his wealth management business in 1997, said, “Building and leading a wealth management firm I founded 28 years ago, after a successful career at a major investment firm, has provided me with significant business experience and strong investment knowledge to help guide clients through multiple periods of intense market volatility—encompassing both major booms and significant downturns.”

Flynn added, “That long-term perspective—the understanding of risk, preservation of capital and strategic growth across cycles for prudent financial stewardship—is directly applicable to our University. It’s exciting to give back to my alma mater to help steer its financial operations and ensure the robust, sustainable, mission-focused management of our vital endowment.”

Understanding the Complexities of Finance

Financing involves any borrowing or long-term debt required to fund initiatives, and that’s where the expertise of trustee Greg Carey, chairman of public finance and global co-head of sports at , fits in.

“My strong bond with the University was forged by watching my son progress and truly thrive through the transformative Bridges [to Adelphi] program,” he said. “This is my opportunity to give back and apply the knowledge gleaned from my decades working in public finance in global leadership roles at Goldman Sachs. It is exciting to help the University strategically plan and navigate the financial complexities in higher education.”

Financial Firepower Ensures a Stable Future

By having seasoned auditors, Wall Street veterans and financial leaders, many of whom are alumni, covering all four crucial corners of University finances, Adelphi is doing more than just balancing the books. It is ensuring a strong, stable future for generations of students to come.

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Manhattan Center: Preparing Students for High-Growth Careers

A new $741,257 from New York is a key part of that effort. The funding is dedicated to equipping the new Manhattan Center with state-of-the-art facilities, creating a modern learning environment that directly supports student success in high-growth careers. For example, a new simulation lab for our accelerated nursing program will help address the current shortage of nurses in New York City and the boroughs.

The HECap program is a competitive grant initiative that provides matching funds to private colleges and universities for capital projects aimed at modernizing and enhancing educational facilities, improving student experiences and stimulating economic growth. In this year’s round of funding, 35 institutions received a total of $21.5 million in grants.

Easy Commute to Midtown Manhattan

������ý’s 51,000-square-foot Manhattan Center location, comprising three floors of light-filled space in midtown Manhattan, is a few blocks away from and within walking distance of 10 subway and bus lines and two commuter railroad systems at , as well as numerous dining and retail options, cultural activities, outdoor spaces and corporate offices.

“������ý has served New Yorkers for more than 120 years, and it is now entering an era of unprecedented growth and expanded reach,” said New York State Sen. Liz Krueger. “These funds will enable Adelphi to greatly enhance the student experience, benefit the regional economy and prepare more students for careers that are vital to New York’s national and global competitiveness.”

Programs for NYC Career Success

������ý’s new Manhattan Center plans to offer highly ranked programs, including:

• Artificial Intelligence and Machine Learning (MS)
• Business Analytics (MS)
• Creative Writing (MFA)
• General Psychology—Human Resource Management Concentration (MS)
• Learning Sciences (PhD)
• Nursing (Accelerated Bachelor’s Degree)
• Social Work (MSW)
• STEAM Teaching and Learning—Math, Science, Computer Science (MA)
• Professional MBA (Hybrid MBA)

Additional programs that meet market demands will be added to the pipeline.

“I support ������ý’s HECap grant funding, as the use of these public funds will have an immediate and positive impact on the regional economy,” said New York State Assembly member Alex Bores.” It will enhance the student experience and enable the University to better prepare students for careers that are critical to New York’s national and global competitiveness.”

Learn more about the ������ý Manhattan Center.

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