Ed Patrick Named Washington College’s New V.P. for Finance and Administration

Patrick will bring his extensive financial experience in higher education starting this spring semester.

CHESTERTOWN, MD – Washington College has named Ed Patrick to the position of Vice President for Finance and Administration. Patrick, a successful finance executive with strong higher education experience comes to Washington College from St. Augustine’s University in Raleigh, NC where he has served as VP of Finance & Operations since 2018.

In this role, Patrick will be a close partner to President Sosulski in advancing Washington College's strategic priorities and objectives, working in unison with other College officers, and reflecting and extending the collaborative and supportive spirit of the entire College. The President and senior staff will look to him provide the leadership, vision and entrepreneurial financial thinking for prudent resource management and allocation in support of institutional planning and resource growth.

Serving as the chief business officer for Washington College, Patrick will provide strategic and operational leadership for the institution’s financial, information, and physical resources. He will be responsible for an institutional budget of approximately $55 million and will direct the College’s capital renewal program and land development opportunities, provide coordination and oversight of the management of the College’s endowment and its property and liability insurance and risk management portfolio, and provide functional oversight of non-financial business operations (information technology) and auxiliary enterprises (dining services, bookstore, and summer conferences).

Patrick’s accomplishments within the higher education space include leading strategic initiatives to retain SACSCOC (Southern Association of College and Schools Commission on Colleges) accreditation for two separate universities; investing nearly $2 million in technology infrastructure improvements by utilizing CARES Act funding; and collaborating with Academic and Student Affairs teams to develop and implement student retention initiatives  that included investments in advising, tutors, technology, training and facilities that resulted in a 40% improvement in the retention rate.

Before joining St. Augustine’s University, Patrick spent five years as a SACSCOC Financial Consultant for Silver & Associates Universities & Colleges. Over the course of his career, he also held leadership roles in Finance & Management with South Carolina State University, Paine College, Clark Atlanta University and the South Carolina Commission on Higher Education.

“As a focused and passionate strategist, I am excited to help advance the long-term goals and core mission of Washington College,” said Patrick, whose background includes budgeting and forecasting, business modeling, internal control structure, facilities management, technology and innovation, auxiliary management, cash and investment management, collaborative decision-making at the executive level, and change management.

Patrick is also the proud father of two children who are both currently attending different universities, adding an even deeper level of understanding around the challenges and sacrifices required to pursue a degree in higher education.

“Ed’s strong proven competencies in financial analysis and planning, process improvement, budgeting and cost control and team-building mesh incredibly well with what the College needs as we look ahead to the next chapter,” said Mike Sosulski, President. “But when we look beyond his successful career and list of accomplishments, it is his passion for adding value to our community and his collaborative approach that really gave him the nod as our candidate. He will undoubtedly become a strong and vocal advocate for advancing our mission with a student-first mindset.”

Patrick earned his Bachelor’s of Science in General Studies from Northwestern University, and went on to receive an MS in Accounting from DePaul University in Chicago. He also completed Chemical Officer Basic Course & Military Police Advance Training while with the Department of the Army out of Fort McClellan.

He will officially begin his tenure with Washington College on January 24. Patrick will be joined in the Office of Finance & Administration by another new staff member – Director of Facilities, Stan Yeakel. Yeakel was previously the Director of Physical Plant Services at Fairhaven, a continuing care retirement community in Sykesville, MD. He brings extensive experience in working with capital projects, maintenance, engineering, security, energy management and housekeeping services.