Brown’s governing body approved a 2.85% increase in tuition and fees for 2022-23, a 4.25% salary increase pool for faculty and staff, and bonuses for 4,600 employees; the Corporation also elected its next vice chancellor.
The approved $1.34 billion base budget strikes a deliberate balance between long-term financial sustainability, economic recovery from COVID-19, and continued investments in academic excellence and support for students.
The University’s 16th president from 1989 to 1997, Gregorian was an accomplished scholar, historian and transformative leader for Brown, the New York Public Library and the Carnegie Corporation of New York.
A 2.85% increase in tuition and fees, the lowest percent increase in more than a decade, will provide nearly $16 million of revenue, enabling Brown to continue strong support for students with financial need while supporting teaching, learning and research on campus.
Dowling, who has played a key role in the growth of Brown University’s endowment since 2013, will leave Brown to serve as global co-head of Blackstone Alternative Asset Management, effective Jan. 12, 2021.
After a successful 30-year career in global business, Artemis Joukowsky returned to Providence in service of his alma mater, where he played an instrumental role for decades in leading and supporting Brown priorities.
The approved $1.3 billion base budget includes $347 million for student aid and support, and will serve as a foundation for revised budget forecasts to contend with the full impact of COVID-19 on Brown’s financial position.