bryn mawr college annual financial summary 2008
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Bryn Mawr College Annual Financial Summary 2008. - PowerPoint PPT PresentationTRANSCRIPT
Bryn Mawr CollegeAnnual Financial Summary
2008
Restricted Gifts $20,035,000
2%
Current Unrestricted $2,458,000
0%
Endowment $688,327,000
78%
Annuities & Trusts
$32,237,000 4%
Plant $138,040,000
16%
2008 Net Assets$881.1 Million
Student Net Tu-tion & Fees
48%Gifts & En-dowment In-
come44%
Other4% Government Grants
4%
2008 Revenue ($108.6 million)
2001 2002 2003 2004 2005 2006 2007 2008$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
$5,000,000
$5,500,000
$6,000,000
Annual Fund Gifts
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 $5,000
$10,000
$15,000
$20,000
$25,000
$7,833
$22,649
1999-2008 Operating Gifts & Grants(in thousands)
Salaries & wages43%
Benefits13%
Fellowships & student stipends
4%
Services & contracting
15%
Supplies6%
Travel & en-tertainment
3%
Utilities3% Depreciation
9%
Interest6%
2008 Expenses($96.5 Million)
Smith
Wesl
eyan
Oberlin
Trinity
Barnard
Well
esley
Mount Holyoke
Willi
ams
Carleto
n
Amherst
Bryn Maw
r
Pomona
Swarthmore
Haverf
ord0
500
1,000
1,500
2,000
2,500
3,000
Bryn Mawr and Peer Institutions Student FTEFall 2007
Undergraduate Arts & Sciences Social Work
Student Services
Institutional Support
Instruction, Research, Public Service & Academic Support
$- $20,000,000 $40,000,000 $60,000,000
2008 Educational Expenses(in thousands of $)
Instruction Academic support
Research Student services Institutional support
Public service
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
1999-2008 Average Educational Expenses Growth by Category
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
Renewals and Replacement Budgets1987-2009
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 $300,000,000
$350,000,000
$400,000,000
$450,000,000
$500,000,000
$550,000,000
$600,000,000
$650,000,000
$700,000,000 $688,327,000
Endowment Value 1999-2008
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
Average; $533,467
Endowment Per Student FTE Peer InstitutionsFiscal Year 2007
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
Average; $26,673
Estimated Endowment Income Per Student FTE Peer InstitutionsFiscal Year 2007
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008-4.00%
0.00%
4.00%
8.00%
12.00%
16.00%
12.13%13.20%
-1.14%
-2.86%
1.74%
16.90%
10.35%
12.78%
17.77%
3.80%
8.47%
1999-2008 Endowment Return
Endowment ReturnAverage return
Series1
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
3.8%
11.5%12.3%
3.4%
10.7% 11.1%
-4.30%
7.40%
8.71%
-6.70%
7.60%
9.80%
-3.70%
12.30%
14.30%
Bryn Mawr College Endowment Performance vs. BenchmarksPeriods ending May 31, 2008
BMC PortfolioInterim BenchmarkBroad Market B'markS&P 500 IndexMSCI All Country World Index
% R
etur
n
Trailing 1 Year Trailing 5 YearsAnnualized
Trailing 3 YearsAnnualized
1 Performance of the non-marketable alternatives (private equity / venture capital and real assets) is as of March 31, 2008. Accordingly, the total portfolio performance numbers will adjust when updated numbers for those investments are available.
2 The Interim Benchmark is weighted according to the Interim allocation of each asset class (in parentheses) with the following indexes: Russell 3000 (U.S. Equity), MSCI EAFE (Int’l Developed Equity), MSCI Emerging Markets (Emerging Markets Equity), T-bills + 6% (Marketable Alternatives), S&P 500 + 4% (Private Equity / Venture Capital), CPI-U + 5% (Real Assets), and Lehman Brother 5-Year U.S. Treasury Index (Fixed Income / Cash). It is meant to represent performance of a passive, but diversified, portfolio.
3 The Broad Market Benchmark is 87% Russell 3000 and 13% Lehman Brothers 5-Year U.S. Treasury Index. It is meant to represent an undiversified portfolio.
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 3.50%
4.00%
4.50%
5.00%
5.50%
6.00%
Average4.84%
Endowment Spending as Percentage of Average Endowment Value
1999-2008
Endowment Asset Allocation
Long -Term Target 2008 Difference
U.S. Equity 17.5% 20% 2.5%
International Equity 15.0% 17% 2%
Emerging Markets Equity 5.0% 5% 0%
Marketable Alternatives (Hedge Funds) 17.5% 21% 3.5%
Venture Capital & Private Equity 17.5% 10% -7.5%
Inflation Hedging Assets 17.5% 17% -0.5%
U.S. Bonds & Cash 10.0% 10% 0%
100% 100% 0%
Admissions & Financial Aid Update
Class of 2012
• Record applicant pool of 2,150• The largest entering class in the college’s history – on target
with optimal enrollment plan with a class size of 366 students• 39 states and 37 countries represented• Most popular majors: English, Undecided, International
Studies, Psychology, Biology• 26% students of color (US citizens); 20% international (non-
US citizens, permanent residents, dual citizens)• Slightly higher admit rate due to enrolling fewer early decision
students and hedging against financial aid uncertainty• Admitted 7 students from the waitlist
Applications
Percentage Admitted
Entering Class Size
Diversity
Percentage Ranked in Top 10% of High School Class
Median SAT Critical Reading + Math
Closing Undergraduate FTE
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 -
50
100
150
200
250
49
188
1999-2008 Graduate Students FTE
Arts & Sciences Social Work & Social Research
Undergraduate Tuition Discount Rate
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
1999-2008 Total Financial Aid Expense
Undergraduate
Graduate School of Arts and Sciences
Graduate School of Social Work and Social Research
Current Projects Related to Enrollment
• Review of admissions policies and the role of standardized testing
• Review of financial aid policies and our overall pricing model