CEDARVILLE, OHIO – At its January 22 meeting, the Cedarville University board of trustees approved the 2021-22 budget, faculty tenure and promotions, and announced a $1 million gift from the Berry Family Foundation.
Cedarville University said the pledge by the Berry Family and the Charles D. Berry Foundations of Dayton, Ohio, will aid in the construction of the Lorne C. Scharnberg Business Center on Cedarville’s campus. The building is one of the facilities planned as part of the university’s 10-year campus master plan and will establish the Berry Center for Free Enterprise within the school of business administration.
“We are delighted to support Cedarville University and all that it represents to our community,” said John W. Berry, chairman of the Berry Foundation. “I feel that the establishment of the Berry Center for Free Enterprise is a real tribute to the founders of the Berry Company.”
“We are humbled and grateful for the support of the Berry Family Foundation,” commented Thomas White, president of Cedarville University. “Through their generosity, we will continue to develop facilities and programs that transform lives through excellent education and intentional discipleship. We offer our thanks and pray for God’s help in stewarding this gift well.”
According to Cedarville, the university’s school of business administration is Cedarville’s third largest academic unit with 441 undergraduate students enrolled in its eight undergraduate majors. The school also offers a fully online Master of Business Administration with five available tracks including cybersecurity management, business analytics, and innovation and entrepreneurship.
Cedarville University said its operating budget for 2021-22 will be $105.2 million. The budget is driven by strong enrollment growth, even with declining national trends among private and public universities and amid a global pandemic. As the university has seen continued growth in its undergraduate and graduate programs, Cedarville has recorded 14 consecutive record enrollments.
Tuition for undergraduate students will increase by 2.5% next fall. Students enrolled in the university’s business, nursing, and ministry graduate programs will see no increase in tuition for the second straight year.