Case Western Reserve University
Ends Fiscal Year 2009 with $1.3 Million Surplus
Budget balanced for second consecutive year
President Barbara R. Snyder announced today that Case Western Reserve University completed the 2009 fiscal year with an operating surplus of $1.34 million—a $1.2 million increase over the $127,000 surplus in fiscal year 2008.
This marks the second consecutive year Case Western Reserve has finished with a balanced budget.
"Case Western Reserve University's continuing financial stability is a testament to the talent and dedication of our campus community, alumni and friends," President Snyder said. "I am grateful to everyone on our campus, and to all of those beyond it who supported our efforts this year."
Senior Vice President and Chief Financial Officer John Sideras attributed the growing surplus to a continued conservative approach to spending, increasing research activity, and improved philanthropy.
The university set a new record for its second-highest fundraising year in history in 2008-2009. Philanthropy totaled $108.7 million, an increase of 5.2 percent over the previous year.
"We have been humbled by the generosity of our supporters, especially given the economic climate," Snyder said. "Their gifts underscore their belief in the work of our university, and its even greater potential."
In addition, Case Western Reserve's endowment performance exceeded those of its benchmark institutions, many of which saw losses exceeding 20 or even 25 percent. As of June 30, the university's combined total endowment declined 19 percent, finishing at $1.4 billion. Last month the university was named Large Endowment of the Year at Foundation & Endowment Money Management's 9th Annual Nonprofit Awards for Excellence ceremony.
In 2009-2010, the university will work to advance its strategic plan, Forward Thinking. As part of those efforts, the university will make investments in interdisciplinary initiatives identified as plan priorities. Provost and Executive Vice President W.A. "Bud" Baeslack is leading implementation of the plan, including this internal competitive grant process.
Case Western Reserve continues ahead of its five-year financial recovery plan that called for a balanced budget by 2011.
2009 Statement of Activities:
- 2009 Total Operating Revenue: $881,757,000
- 2009 Total Operating Expenses: $880,410, 000
The Flora Stone Mather Center for Women seeks volunteers to contribute and/or read affirmations from 2:30 to 3 p.m., Wednesday, Oct. 21, in the Thwing Center atrium. The readings will be part of Love Your Body Day. Contact Abigail Pink via e-mail or by phone at 368-0985 to participate.
A memorial service honoring the life of Professor Lawrence M. Sayre will begin at 3 p.m., Sunday, Oct. 18, at Harkness Chapel. Sayre, professor of chemistry, pathology and environmental health sciences and a member of the Case Western Reserve community for 27 years, died May 8. During his career, he provided service to the Department of Chemistry as a department chair, and was also interim chair of the Department of Modern Languages and Literatures. Sayre also held professional appointments in the departments of pathology and environmental health services. His research bridged the fields of organic chemistry, medicinal chemistry and biochemistry.
For Faculty and Staff
Faculty and staff are invited to take cycling classes October 22-December 3 at Veale Center. Classes meet on Tuesdays and Thursdays from 7 to 8 a.m. in the Veale Multipurpose Room. The cost is $50. Contact Steve Thompson for details.
The Staff Advisory Council's (SAC) Community Service Committee is sponsoring its Eighth Annual Basket Raffle in conjunction with the Benefits Fair Tuesday, Nov. 10, from 11 a.m. to 5 p.m., and on Wednesday, Nov. 11, from 8 a.m. to 2 p.m. Proceeds from this year's raffle will be donated to Bellflower Center for Prevention of Child Abuse and MetroHealth Friends of Mothers and Infants. The basket raffle will take place in Thwing Center's 1914 Lounge. Send an e-mail to firstname.lastname@example.org for information.
During the month of October, graduate and professional students from the School of Graduate Studies, the Weatherhead School of Management, the School of Law and the Mandel School of Applied Social Sciences should receive an e-mail asking for participation in the Graduate and Professional Student Survey. This voluntary, web-based survey asks questions about students' experiences at the university. All those who participate in the survey will be entered into a drawing for one of six prizes: one $500 and five $100 MasterCard gift cards.
The 2009-10 season of Chapel, Court & Countryside: Early Music at Harkness begins with a concert featuring Ciaramella at 7:30 p.m., Saturday, Oct. 17, at Harkness Chapel. Ciaramella's members met as graduate students at Case Western Reserve. The group brings to life Medieval and early Renaissance music from historical events and manuscripts. Go online for ticket prices and additional information.
Michelle Munson, assistant professor at the Mandel School of Applied Social Sciences, and Teresa King from Cuyahoga Tapestry System of Care will discuss "Voices of Parent Advocates Within the Systems of Care Model of Service Delivery" from 12:30 to 1:30 p.m., Tuesday, Oct. 20, at the Mandel School, Classroom 320A. Munson will discuss her two-year research study and findings in the area of Parent Advocates along. King, co-author, will talk about what makes a parent advocate and its brief history and background on this subject. Contact June Hund for information.
Rosabeth Moss Kanter—the Ernest L. Arbuckle Professor at Harvard Business School, author of The Change Masters, former chief editor of the Harvard Business Review—will speak at the Weatherhead School of Management from 5:30 to 7:30 p.m., Thursday, Nov. 12. The event is hosted by the Weatherhead Executive Education and the Fowler Center for Sustainable Value. Kanter will discuss her newest book, SUPERCORP: How Vanguard Companies Create Innovation, Profits, Growth, and Social Good, and ways in which businesses can use their clout to prosper while contributing to positive change. Space is limited. Register online.
The next Friday Public Affairs Discussion Group will feature the topic "Virtue, Vice, and Contraband: The History of Contraception in America." James M. Edmonson, Curator, Dittrick Medical History Center and Museum, will lead the talk beginning at 12:30 p.m., Friday, Oct. 16, at the Inamori Center.
The views and opinions of those invited to speak on campus do not necessarily reflect the views of the university administration or any other segment of the university community.