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Forbes Features Fevola
The financial thought leadership of Christopher Fevola, ’12, vice president for finance and chief financial officer at Long Island University, has garnered national praise. In a recent Forbes article entitled “The Finance Leader In Higher Education,” senior contributor Jeff Thomson spoke with Fevola about how universities can follow LIU’s example of securing and sustaining a strong financial position while improving operating performance.
The article highlighted many of the measurable gains at LIU, which are both bountiful and prodigious. The University has held annual tuition increases to 2% as part of a 2014 pledge, while receiving positive ratings from national credit agencies for several straight years and earning a perfect 3.0 financial responsibility rating from the U.S. Department of Education. Additionally, endowment increased by 210% from $76.4 million in 2010 to $237 million in 2020, surpassing the University’s ambitious 2014 goal of $200 million by the end of the decade.
Students are chief among the beneficiaries of these increases, with the University awarding more than $4.5 million in endowment-related and restricted scholarships, the most in LIU’s nearly 100-year history. This collaborative success warrants praise to the collective efforts of a cohesive team, in addition to the many exceptional distinctions at LIU that have made remarkable progress possible. “Long Island University has so many unique qualities and differentiators that I think we’re now really capturing the full potential of,” Fevola said of the last five years at LIU. An important part of Fevola’s leadership lies in understanding the importance of his responsibilities and influence of his role, stewarding the resources that enable virtually every extension of the University. “There are a lot of areas to look around and see progress, but this is where the functions start. We’ve really poised ourselves to be successful in the next decade.” Fevola grew up on Long Island and studied accounting in college. After graduating, he landed a job at KPMG where he started off conducting audits at a number of higher education institutions. As part of the auditing process, he examined the large-scale information systems that operate as the engines for universities. “That was a very fundamental but very important part of my skillset as my career went on,” Fevola said. “The chief financial officer of today can’t be limited just to the traditional responsibilities of things like finance, debt and payroll, but really needs to understand the importance and opportunity that information systems and data-driven support systems can provide.” The insights he gained during the auditing process prompted Fevola to pivot to higher education consulting at KPMG. The work itself was satisfying, but the extensive travel led him to consider a more grounded position at LIU in 2008. Fevola stayed on board when President Cline was hired in 2013 and the two shared a common vision for the University. Among the many rewarding aspects of his job, Fevola appreciates how the success of his work benefits the lives of LIU students, faculty, alumni and the surrounding community. “One of things I really enjoyed about higher education early in my career was the ability to be impactful,” he said. “That’s something that’s followed me to this day.”
