A higher-education advisor · est. 2025

Higher education’s
thinking partner.

Ask Athena anything about your institution’s financial health, peer position, or enrollment outlook. The answer arrives in ninety seconds — peer-calibrated, source-cited, and board-ready.

19,000+ variables4,000+ institutions15 years of history
IPEDS · College Scorecard · BEA · NCES · SHEEO · WICHE
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Athena
S T R A T E G I C   A D V I S O R
  Notebook · No. 14
P R O M P T  ·  09:42
“Draft a CFI narrative for Tuesday’s Finance Committee — five-year trend, peer position, and a three-year projection if enrollment stays flat.”
✏  Provost · Eleanor V.3 sources attached
A T H E N A  ·  T H I N K I N G

Your Composite Financial Index stands at 2.14 for FY 2024 — placing you in the 58th percentile of a Statistical Match of ten comparable masters’-large institutions in the Mid-Atlantic.

C F I  ·  2 0 1 9 — 2 0 2 4
vs. peer median
'19'20'21'22'23'24
You Peers (10)n = 10 · IPEDS

The trend has steepened since FY22. Holding enrollment flat, I project CFI of 1.82 by FY27 — still above the SACSCOC threshold, but narrowing the buffer your Board…

The enrollment cliff is here

Your peers are planning for a future you haven’t modeled yet.

Three roles. Three calendars. The same missing chapter.

FOR THE CFO

Your CFI is trending — and you can’t tell if the slope is a warning your accreditor will see first.

FOR THE PRESIDENT

The Board wants a five-year plan by Tuesday. Your IR team is still assembling last year’s IPEDS.

FOR THE PROVOST

You know enrollment will fall. You don’t know by how much, or which programs to defend first.

There is a calmer way to know.
The advisor

One advisor. Three habits. One workflow.

Compose the board-ready answer.

Ask Athena a strategic question. She returns a peer-calibrated, accreditation-aware narrative — drafted in your institution’s voice, sourced and footnoted. Ninety seconds, not six weeks.

  • Cited to source rows
  • SACSCOC · HLC · NEASC tone
  • Drop into your Board pack
Meet Athena →

Model what happens next.

Twenty planning modules — enrollment, tuition, aid, faculty mix. Move a slider, watch the CFI bend. Every scenario arrives with a peer-calibrated narrative the Board can read.

  • 20 scenario modules
  • Live CFI · DSCR projections
  • Board-ready narrative output
Walk through Planning →

Know where you stand.

ML-matched peer groups across four thousand institutions. CFI trends for your exact Carnegie class. Benchmarking that used to take a quarter, returned in seconds — never out of date.

  • 5 peer-selection methods
  • Carnegie · state · mission filters
  • Always-current IPEDS
Walk through Explore →
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Athena
HLC 5.A · DRAFT
Draft complete

Westfield University’s Composite Financial Index of 0.9 reflects a declining but actively managed financial position. The primary reserve ratio of 0.22 remains above the generally accepted floor of 0.10, indicating that the institution retains operational resilience despite the CFI declining below the 1.0 threshold in FY2024 for the first time since FY2019.

The decline is attributable to a contraction in net tuition revenue (−7.2% in real terms) and increased reliance on draw from unrestricted reserves…

14 IPEDS rows citedSACSCOC Standard 13Board-ready
Enrollment Scenario · FY 2027
3 scenarios active
FTE change−5.0%
Tuition discount rate41.2%
Auxiliary revenue growth+2.0%
PROJECTED CFI · FY 2027
1.74
PEER MEDIAN
1.96
▼ Below peer median if flat enrollment continues
Peer Edge
K-MEANS · CFI MATCH · n=10
Statistical method
INSTITUTIONCARNEGIEREGIONFTECFIMATCH
Your institutionM2MidA3,2002.14
Allegheny-class AM2MidA3,1002.3196%
Hamilton-class BM2NE3,4501.9893%
Skidmore-class CM2NE2,9802.4591%
Wooster-class DM2GLk3,2001.7288%
Whitman-class EM2PNW3,3102.0286%
+ 4 hidden · 10 total Peer median CFI: 1.96
The planning calendar

Athena is already at every moment
of your planning year.

Higher education runs on a predictable calendar. So does Athena — ready with the right data at the right moment, before you have to ask.

SEPT – OCT
Strategic priorities need to be defensible, not just directional.

Your board will ask: “How does our CFI compare to our peers? Are we on the right side of the enrollment cliff?” Athena has the answers before the retreat begins.

Peer CFI benchmarksEnrollment projectionsCompetitive landscape
Athena · Board Retreat Prompt
“Prepare a one-page peer CFI briefing for our September board retreat. Include our viability ratio trend since FY2019 and flag any peers who have improved their position.”
→ Athena generates it in 90 seconds.
NOV – JAN
Budget decisions made on gut feeling get reversed in March.

What discount rate can we sustain? What does a 5% enrollment drop do to our operating model? Peer benchmarks tell you whether your assumptions are defensible or dangerous.

Enrollment scenario modelingDiscount rate benchmarksExpense benchmarks
Athena · Budget Mode
FTE change −5% → CFI impact: −0.32 by FY27. Peer median discount rate: 41.2%. Your current rate: 43.8% — above cohort by +2.6 pts.
→ Run 3-year scenario.
FEB – APR
Accreditation reviewers want narratives. Athena drafts them.

HLC Criteria 5.A, SACSCOC Standard 13 — financial sustainability sections require ratio trend analysis, peer context, and a management response narrative. Athena generates a complete draft from your IPEDS data.

HLC · SACSCOC · NEASC toneRatio trend analysisManagement response
Athena · Accreditation Mode · HLC 5.A.1
Westfield University’s Composite Financial Index of 0.9 reflects a declining but actively managed financial position. The primary reserve ratio of 0.22 remains above the generally accepted floor of 0.10, indicating that the institution retains operational resilience…
→ Full 5.A.1 draft with 14 cited IPEDS rows.
MAY – AUG
A 5-year strategic plan built on last year’s data is a plan built on sand.

Program mix decisions, market positioning, revenue diversification — every strategic choice needs peer context. Athena maps where your peers are going so your plan goes somewhere different.

Peer program mix analysisRevenue diversification5-year financial modeling
Athena · Strategic Plan Mode
Across your 10 statistical peers, CIP 52 (Business) enrollment declined −8.4% since FY2020 while CIP 11 (CS/Data) grew +31%. Your current CIP mix shows below-median exposure to growth programs.
→ View full program mix dashboard.
Peer Intelligence

Your CFI question needs different peers
than your enrollment question.

A single static cohort gives you the wrong answer for every question. Athena rebuilds your peer group from scratch for each analysis — matching the five dimensions that actually matter to that decision.

✕   Static cohort — wrong for CFI
Flagship State Adifferent market
Lakeview Universityok
Millbrook Collegewrong for CFI
Northgate Collegeok
Crestwood University2× your endowment
Result: CFI benchmarks skewed by peers with fundamentally different financial structures.
✓   Athena’s CFI match — statistically fair
Allegheny-class ACFI 2.31 · similar trajectory
Northgate CollegeCFI 1.4
Harborview CollegeCFI 0.8 · watch
Pinecrest UniversityCFI 1.2
Lakewood StateCFI 0.7 · recovery pattern
Result: Your CFI percentile is accurate because the comparison is actually fair.
Five matching dimensions — Athena picks the right one for your question
01
Statistical Similarity
CFI, viability ratio, primary reserve, debt burden — matched within defined tolerance bands.

Best for: financial benchmarking, accreditation prep.
02
Enrollment Size
Total FTE within a ±20% band.

Best for: cost structure benchmarking, staffing ratios, operating expense comparisons.
03
Sector & Control
Public / private nonprofit / for-profit + control type.

Best for: tuition pricing, discount rate, financial aid strategy.
04
State & Region
Geographic market overlap.

Best for: enrollment competition, feeder school benchmarking, demographic exposure.
05
Carnegie Classification
Mission and program mix alignment.

Best for: academic program comparison, accreditor-expected peer groups, strategic plan benchmarking.
Why us

Four convictions the field has been waiting for.

01 · PEER INTELLIGENCE
The right peers for each question — not one cohort for every decision.
03 · FEDERAL SUBSTRATE
19,000+ federal variables. Already clean. No IT project.
04 · CLOSED LOOP

Question in. Peer-calibrated board narrative out. One workflow.

$20K / yr · vs. $200K+ across 3 vendors
INPUT
Strategic question
REASONING
ML peer selection
OUTPUT
Board narrative
The shelf

The cliff is already affecting 40% of U.S. institutions.

High-school graduates in eighteen key states will fall fifteen to twenty-five percent by 2030. Your peers are already redrawing their fifteen-year plans against it.

Projected 18-yr-old population, 2024 → 2030
SOURCE · WICHE Knocking at the College Door, 2023
−5% or less
−5 to −10%
−10 to −15%
−15% or more
AK
ME
WA
MT
ND
MN
WI
MI
NY
VT
NH
OR
ID
SD
IA
IL
IN
OH
PA
NJ
CT
MA
CA
NV
UT
CO
NE
MO
KY
WV
VA
MD
DE
AZ
NM
KS
AR
TN
NC
SC
DC
RI
HI
TX
OK
LA
MS
AL
GA
FL
What Athena tells you about your institution’s cliff position
YOUR FEEDER MARKET EXPOSURE
−14%
Projected FTE impact by 2030 based on your top 5 feeder state populations — vs. peer median of −9%.
PEERS ALREADY REPOSITIONING
7 of 10
Of your statistical peers, 7 have added adult-learner or online enrollment programs since FY2021. You have not.
YOUR WICHE-ADJUSTED RUNWAY
2027
Enrollment impact becomes material in your primary feeder states by 2027 — two planning cycles from now.

See how your statistical peers are absorbing the shelf — before your next Board meeting.

Get your free benchmark report →
Pricing

Three ways in. One advisor at the center.

Explore
$0forever

Open the Peer Atlas. Run a benchmark report. Calibrate one CFI question against ten matched peers.

  • Public IPEDS data
  • 10-peer Statistical Match
  • One Athena CFI report
  • WICHE feeder exposure
Open free →
Integrated
$50Kper year

Athena, plus a private workspace your IR team owns and your Board sees — with Workday & Banner taps.

  • Workday & Banner connectors
  • Private workspace + SSO
  • Quarterly advisory hour
  • Custom peer methodology
Talk to sales →

$20K replaces what most institutions currently spend across three separate vendors and 40 hours of IR staff time.

See full pricing and feature details →
What planners say
The CFI narrative Athena drafted in ninety seconds was cleaner than what our consultants produced in six weeks. We used it word-for-word in our HLC self-study.
Chief Financial Officer
Private Master’s Institution · Mid-Atlantic
Used by institutions across 28 states Avg. 4.2 hours saved per planning cycle NPS: 72
Free Benchmark Report

See where your institution stands — in ninety seconds.

Enter your institution below. We pull your IPEDS data, match you to ten statistical peers, and return a CFI benchmark report before your next meeting.

No spam. No sales call required. Benchmark data sourced from IPEDS federal surveys.