NATIONAL HARBOR, Maryland – The current economic crisis is real, painful and likely long-lasting, but a panel of administrators concluded Thursday that it also presents opportunity.

John Walda, president and chief executive officer of the National Association of College and University Business Officers, laid out a stark picture for the standing-room only crowd attending an afternoon Convention session called “Economic Crisis: Charting the Course.”

In describing what he called “the perfect financial storm,” Walda noted that all three legs of most higher educational funding structures have been compromised in recent months: tuition income, government supports and gifts. States currently are reporting a $30 billion shortfall, a figure that is expected to rise to $350 billion over the next two years. At the same time, higher-education institutions are facing increasing pressures to adhere to their missions and to provide more access.

To illustrate the depth of the economic condition, Walda cited a Bloomberg index that illustrates how money, bond and equity markets have collapsed concurrently 10 deviations from what has occurred in any previous economic downturn. The odds of such a confluence were estimated at 1/google (1, followed by 100 zeroes).

Still, Walda and a panel of experts from three NCAA member institutions said leaders would be erring seriously if they did not take advantage of the opportunities that the current crisis offers.

The greatest of those opportunities may rest in trimming needless expense and putting the money to better use. David Riggins, director of athletics at Mars Hill College and chair of the Division II Championships Committee, noted that so far this year the Association has trimmed 19 commercial flights for championships competition, saving about $400,000. By limiting student-athletes competing for championships to two checked bags per trip, another $1 million will be saved.

“You say, ‘Well, that’s NCAA money,’ but, no, it’s our money,” Riggins said. “That’s money that can be saved and used for programs that benefit student-athletes.”

Penn State Athletics Director Tim Curley said that athletics departments also now have an unparalleled chance to demonstrate their integration with the larger campus and to return to important basics, such as strategic plans.

He also called upon the NCAA to examine its policies, including its championship structure, to identify opportunities for improvement. Citing a need to refocus and “streamline some of the craziness we’ve gotten into,” Curley noted that the membership’s willingness to accept financial change may finally be right after three previous failed efforts at reform. “We need to come to the table, put our competitive hats aside and look at the financial realities we’re all facing,” he said.

The pressures in Division III are different than those faced at Penn State, but no less real. However, Gustavus Adolphus President Jack Ohle noted that he is nonetheless planning a major building project. Although the institution cannot actually begin construction in this economic climate, he feels the need to prepare because “we want to be ready when things start to move forward.”

Moreover, Ohle said the current situation might also provide unanticipated opportunities with annual giving. “We plan to ask every single alumnus for a gift,” he said. “They know you need it, and (most) know that they can part with $25 or $100 and not affect their day-to-day living standard.”

Riggins said Mars Hill sees a similar fund-raising opportunity.

“We know who our top 50 givers are, and we’re not confident in this cycle that they are going to give more, or maybe that they’re not going to give as much, as they have in the past,” he said. In response, he said Mars Hill will try a “never-giver” campaign, focusing exclusively on graduates who have never previously donated to the school. Although Riggins anticipates that individual gifts will be relatively small, “at a place like ours, 100 $1,000 gifts makes a tremendous difference in our campaign.”

During the question-and-answer portion of Thursday’s session, one audience member inquired whether an opportunity exists to cut back on modern excesses and restore college sports to what they were originally intended to be.

Curley re-emphasized the need (and hope) for Division I to undertake financial reform, but he added that he did not apologize for facility improvements at many large Division I institutions, including Penn State. The construction in most cases reflects facility improvements made elsewhere on campus and, in some cases, replaces structures that have been standing since World War II.

In a similar vein, another audience member expressed frustration at how athletics programs might be asked to bear a disproportionate burden during the current crisis.

To  that end, Ohle said faculty will be more likely to support athletics if they are involved and feel that responsible decisions are being made (“I don’t believe we need three officials at a basketball game,” he said to applause).

Along those lines, Riggins noted problems associated with Division II’s 56-game baseball schedule, both in terms of expense and missed classtime. Though many people question whether that number is excessive, until now, there has been no impetus to change.

“Those discussions need to happen,” Riggins said, “and in this climate, they can happen.”