This study examined the course success rates among students at a single, associate degree-granting state college based on faculty type and instructional modality. Analyses established the probability of a passing grade based on 1) faculty type at the adjunct and tenure-line levels, 2) instructional modality at the traditional and online course levels, as well as 3) the interaction of both constructs. Further, a cost estimation compared grade performance to the estimated institutional cost per student for each faculty type and instructional modality interaction. This research was designed to contribute to the literature, specific to community colleges, surrounding institutional initiatives that seek to leverage contingent faculty and online learning to build efficiency and increase productivity. The study quantifies and ranks student performance based on these two constructs and estimates the financial impact to the institution. Faculty structure and instructional modality shifts have vast implications on policy and practice among primarily associate degree-granting postsecondary institutions. The growing contingent faculty workforce raises concern about course quality and the erosion of shared governance. Online learning is lauded for its ability to increase access to education but student outcomes are not as strong as traditional modalities. State governments, too, are influencing institutional operations related to the constructs of interest through legislation and the use of accountability metrics, like performance funding. Competing stakeholder interests continue to create tension as institutions strive to prioritize their evolving missions against limited institutional resources. Findings show students perform better in courses taught by adjunct faculty as compared to tenure-line faculty and in traditional courses as compared to online courses. An evaluation of the estimated cost for a course based on faculty type and modality shows that the least expensive option to the institution, on average, is an online course staffed by adjunct faculty, yet it produces the third best passing rates. Thus, the faculty type and instructional modality combination that is most cost-effective does not produce the best student outcomes. The complex financial structure of higher education institutions suggests that costs, particularly those associated with quality, extend beyond the instructor salaries and online modality expenses evaluated in this study. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]