How to assess the long-term stability of a college as part of a job search A few weeks from now, I'll be traveling for a flyout interview to a SLAC (small liberal arts college) in the eastern United States. The college is very small, less than 1,500 students. If hired, I would be teaching philosophy and other topics in a traditional liberal arts and humanities curriculum.

In many ways this is a perfect job for me. The teaching load is 4/4 (that is, 4 courses per semester, no summer teaching required), but I have long wanted to be at a teaching-focused institution. The college is in a small, quiet town in a beautiful area of the country with affordable living. The colleagues I've spoken to so far have been friendly and helpful, and the students seem good. I foresee being able to get tenure fairly easily. For me, all of these features form a very attractive combination. I know it's impossible to predict the future, but at the very least I could see myself spending many years working at this college, assuming there were no major surprises.

My big concern--and I don't know any way other to frame this--is the long-term viability and stability of the college. It has a very small endowment, and as far as I can tell, does not regularly receive donations of any meaningful size. The college weathered the most recent economic challenges here in the US, and has more students enrolled now than at any other point in its history. But my worry is simply that, one day, in response to economic or other issues, it's just going to fold. Then I ask myself whether I could get a job applying out of there, what I would do if I had to leave academia, and so on.

I have no evidence to indicate that anything like this might happen in the near future; in fact, the little information I do have suggests that the college is doing well. But I still worry. I've thought about the possibility of taking a prospective offer with an exit plan: going in ready to publish all of my dissertation research to fill out my CV, in order to make myself competitive should I need to apply out down the road. But that's the best I have so far.

I'd like to ask for your help. My questions are:


What questions can I tactfully and respectfully ask while on my visit to probe for information about my concern? (Keep in mind that I won't have received an actual job offer while visiting; I assume I could ask more direct questions later, were they to make an offer.)
What else should I be looking for on the visit that might help me better understand the college's long-term viability, if anything?
While college failures are rare they do happen, especially in generally poor economic situations. But I think that mismanagement is more likely to be a factor when they do fail. But some advice, probably not complete. 

I hope the place is regionally accredited with one of the major agencies. Otherwise, not a great bet. 

I hope the place is not for profit. Otherwise...

I hope the place is a bit diversified in course offerings and student body and faculty and administration. A place traditionally founded and run by a single family is less of a sure bet. 

I hope the place draws students from a wider, rather than a narrower, geographical area. A national or international student body is best, but a few places can make do with only a regional reputation. How wide is their reputation? 

I hope they don't need to accept every applicant for financial reasons. Otherwise they have no cushion when times get bad. 

It is good if they have some endowment that they manage wisely as a cushion and to enable opportunities. 

I hope that they are open to new ideas, both in curriculum, and in management, but that is hard to judge. I hope that they don't need to chase every new trend to stay viable. 

I hope that the faculty is collegial, both within and across disciplines, though that is more of an indicator of a good work environment than longevity. 

I hope that a lot of decisions are made by the faculty and that the faculty is generally listened to in important discussions; curriculum and beyond. And that the administration respects those decisions. 

I hope that the board of directors is also diversified, not just cronies of the college president. 

I can probably think of more and will update as it occurs. I've worked at a couple of problematic places. None failed, but they did fail at being a satisfying place to work at times.