Presentation on theme: "Worcester Polytechnic Institute Presentation to the Advisory Boards October 13, 2006."— Presentation transcript:
Worcester Polytechnic Institute Presentation to the Advisory Boards October 13, 2006
Worcester Polytechnic Institute New Management Team
Worcester Polytechnic Institute Vision 2015 Students and Student Life Undergraduate enrollment of 3,400 Graduate enrollment of 1,600 Increase percentage of undergraduates living on campus to 70% New and renovated residence facilities Newly-constructed sports and recreation center Indoor garage with parking for 600 cars
Worcester Polytechnic Institute Vision 2015 Academic Research funding of $40 million Stronger core competencies in engineering, science, technology, and management, with special strengths and leadership in such areas as: Life sciences and bioengineering Entrepreneurship and business development Media, technology, and communication Environmental engineering and science BA programs in selected fields within the humanities, arts, and social sciences School of Management with a full-time, one-year, MBA Program and separate building
Worcester Polytechnic Institute Vision 2015 Academic (continued) WPI Gateway Park, a life-science and technology-based development with: WPI life science (whole) departments Bioengineering Institute offices and programs Bioengineering-related corporate tenants WPI corporate & professional education division WPI graduate housing WPI-based programs in education, training, technology commercialization, and business incubation An industry leader in corporate and professional education Renovation and expansion of several academic buildings Top 50 national research university
Worcester Polytechnic Institute Vision 2015 Financial Completion of major comprehensive campaign Endowment of $750 million Tuition discount factor of 35%
Worcester Polytechnic Institute FY07 Expenditure Budget Salaries & benefits $61.7 M 58.8% Equipment, supplies, etc. 22.9 M 21.9% Debt service & depreciation 11.8 M 11.2% Utilities 5.6 M 5.3% Contingency 1.5 M 1.4% Gateway Park 1.4 M 1.4% Total expense $104.9 M 100%
Worcester Polytechnic Institute FY07 Revenue Budget Net tuition & fees $72.9 M 69.6% Auxiliary operations 12.5 M 11.9% Endowment draw 9.8 M 9.3% & investment income Extended education 3.4 M 3.2% Indirect cost recovery 3.0 M 2.9% Unrestricted gifts 2.2 M 2.1% Other revenue 1.1 M 1.0% Total revenue$104.9 M 100%
Worcester Polytechnic Institute Vision 2015 Reputation Project-enriched, world-class education preparing students for achievement, leadership, and fulfillment Excellent research focused on important problems and innovative technologies and science Driver of technology commercialization Culture supportive of women faculty and students Ethical, diverse, principled, stimulating community Emphasis on civic responsibility and leadership
Worcester Polytechnic Institute Key Performance Indicators
Worcester Polytechnic Institute Student Demand Number of applications reached an all-time high for Fall 2006.
Worcester Polytechnic Institute Student Quality Strong average combined SAT scores maintained during enrollment growth.
Worcester Polytechnic Institute Student Quality High class rank (% in top 5 th of class) maintained during enrollment growth.
Worcester Polytechnic Institute Tuition Discount Impact of new enrollment management strategies driving decline in tuition discounting while growing enrollment.
Worcester Polytechnic Institute Fundraising Results (In Millions) Consistent fundraising history.
Worcester Polytechnic Institute Research Award Volume (In Millions) Level of research growing with investments in faculty and Gateway Park development.
Worcester Polytechnic Institute Change in Net Assets from Operating Activities (In Thousands) Operations have returned to positive results. FY2002 FY2003 FY2005 FY2006 FY2004
Worcester Polytechnic Institute Expendable Resources (In Millions) Balance sheet continues to strengthen.
Worcester Polytechnic Institute Endowment-Market Value History (In Millions) Market value of endowment reached $354 million as of June 30, 2006.
Worcester Polytechnic Institute Endowment Ten-Year Return History