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Stevens University Progress Report: Growth, Finances, Student Success

This report highlights the growth and progress of Stevens University, including attracting talent, strengthening faculty and graduate programs, improving finances, and increasing reputation. It also discusses current trends in higher education and undergraduate student recruitment, as well as achievements in student success, finances, credit rating, alumni and development, and communications and marketing.

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Stevens University Progress Report: Growth, Finances, Student Success

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  1. Nariman Farvardin May 2, 2017 Report of the President to the President’s Leadership Council

  2. Stevens at a Glance • We are growing and attracting talent at all levels: faculty, students, staff • There is significant emphasis on strengthening faculty and graduate programs • Applications/enrollments continue to go up • Finances continue to improve • Reputation is on the rise • Stevens is on a remarkable ascent trajectory: • The 3rd fastest rising university by US News & World Report, 2011-2016

  3. Stevens at a Glance • We have been the target of repeated cyber attacks recently • Our endowment remains small and, despite the progress we have made, fundraising still has a long way to go • Heavy reliance on tuition revenue • Heavy reliance on international graduate enrollment • We anticipate disruption caused by a massive amount of construction in the next few years • But, there are some concerns

  4. Trends in Higher Education • Free public college education: impact of Governor Cuomo’s proposal • Issues around free speech activism • Finances of private non-profit colleges and universities: 117 failed the DoE financial responsibility test • Shifting and uncertain federal policies: research funding, international scholars and students, travel • Online education and Purdue’s plan to purchase Kaplan University • Uncertain, dynamic and turbulent

  5. Undergraduate Student Recruitment • Fall 2017 applications • Total: 8,335 (up 12.5%) • Female: 2,461 (up 17.2%) • Male: 5,874 (up 10.6%) • Underrepresented Minorities 1,697 (up 13.6%) • Hispanics 1,161 (up 13.9%) • African Americans 515 (up 10.3%) • In-state: 4,172 (up 7.4%) • Out-of-state: 3,009 (up 12.1%) • International: 1,154 (up 37.3%) • Positive trend continues; we hope to have another successful year

  6. Undergraduate Student Recruitment • Fall 2017 applications • School of Engineering and Science: 6,927 (up 11.1%) • Business School: 839 (up 13.2%) • College of Arts and Letters: 385 (up 32.3%) • School of Systems and Enterprises: 184 (up 27.8%) • Demand is on the rise across all schools

  7. Student Success • For Fall 2016 freshman cohort, we achieved a one-semester retention rate of 98.64%--an all-time high • For Fall 2011 freshman cohort, we anticipate a graduation rate of 83%, equal to that of Fall 2010 cohort, which was an all-time high • 96% of May 2016 graduates either secured a job or were in graduate school by Dec. 2016—an all-time high • 99% for women • 100% for non-Engineering majors • We keep setting new records in student success

  8. Finances • FY17 budget is on track, forecasting an operating surplus (like every year since FY11) and an uncommitted cash balance of $18.0 million • DoE’s 2014-15 Financial Responsibility Score: 3.0/3.0 • Our finances continue to improve

  9. Credit Rating • S&P’s: Upgraded Stevens’ credit rating from BBB+/positive to A-/stable • Moody’s: Affirmed Baa2 rating but upgraded the outlook to positive • Positive credit characteristics: healthy student demand, growth in net tuition revenue, selective freshman acceptance rate and solid student quality, strong operating margins, experienced management team • Credit challenges: high tuition dependency, limited but improving liquidity, increasing pressure on the physical plant • Stevens’ credit rating improved officially

  10. Alumni and Development • Gifts and pledges: $17.2 million (up from $9.9 million) • Undergraduate alumni donors: 1,836 (up from 1,539) • Results as of 4/23/2017 are quite good, but we need to continue • to work hard to build a robust development program Received a second $10M gift from Greg and Susan Gianforte to name the new building The Gianforte Academic Center

  11. Fundraising Campaign Raised $109.3 million as of 4/23/2017 Goal: $150 million by 12/31/2018 Key fundraising priorities Scholarships and fellowships Endowed chairs and professorships Buildings, labs, and other facilities Named schools, departments, research centers and academic programs

  12. Fundraising Campaign Raised $109.3 million as of 4/23/2017 Goal: $150 million by 12/31/2018 Key fundraising priorities Scholarships and fellowships Endowed chairs and professorships Buildings, labs, and other facilities Named schools, departments, research centers and academic programs

  13. Communications/Marketing: Digital Engagement Social Media Channel Growth * Snapchat, recently launched. Results for last 90 days. Stevens.edu Website Performance • Strong increases in web site traffic and social media

  14. Award-Winning Communications & Marketing CASE District II Accolades Awards GOLD Award: Capital Campaign Launch Video GOLD Award: Website SILVER Award:Reputation Advertising BRONZE Award: 2016 Outcomes Brochure MERIT Awards: • The Stevens Indicator • The 2016 President’s Report • What Inspires You? Undergraduate Viewbook Higher-Ed Marketing Educational Advertising Awards

  15. Construction/Renovation Projects • A dizzying amount of renovation, construction • and planning activity is underway

  16. ABS Engineering Center: completed

  17. North Building: construction is underway

  18. Babbio Garage: construction is underway

  19. Gianforte Academic Center: construction will start in late summer

  20. University Center and Residence Halls: in planning View from Campus

  21. University Center and Residence Halls: View from lower Manhattan

  22. Important Searches • Vice President for Human Resources: Mr. Warren Petty, started on February 6, 2017 • Dean of Engineering and Science: Dr. Jean Zu, started on May 1, 2017 • Dean of Systems and Enterprises: underway • Successfully completed two searches for key leadership positions

  23. Important Events • Launched Stevens OnStage • President’s Distinguished Lecture • Curtis Carlson, former President and CEO, SRI • Peter Norvig, Director of Research, Google • Scholl Lecture by Entrepreneurs • Lou Steinberg, CTO, TD Ameritrade • Tim Urban, co-founder ArborBridge and WaitButWhy • Stevens Awards Gala

  24. The Fading American Dream • Mobility index: likelihood of moving students 2or more quintiles up in the economic scale • Stevens is #1 in overall mobility index among 71 highly selective universities

  25. 2017 PayscaleRoI Ranking • In a study of net 20-year return on investment of more than 1400 colleges and universities, Stevensis ranked 10th • Moving up in the ranking, Stevens continues to do very well

  26. There is a strong sense of pride and accomplishment in the university and the campus is abuzz with energy and excitement

  27. Thank you for your counsel and participation Q&A

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