Ave Maria University

He also assumed the role of CEO in place of Monaghan, who remains the Chancellor.
The 2008 financial crisis took a toll on Ave Maria's finances. Monaghan said in 2012 that Ave Maria's construction cost estimates doubled over three years, requiring the university to cut back on planned buildings. The troubled Florida real estate market also meant that Ave Maria School of Law had to shelve plans for a building, as its existing campus was worth less than was paid for it. According to Towey, for a period of time the university survived through Monaghan's funding of a $10 million annual deficit. Towey credits his efforts at controlling financing costs, along with increased contributions, with placing the university back on a firm financial footing by 2014.
In February 2012, Ave Maria made national news when it filed Ave Maria University v. Sebelius, suing the government over the US Health and Human Services birth control mandate by claiming it would force the university to forego its religious freedom. It became the …