october 25, 2012 2012 · in june 2010, including select commitments from lead donors received prior...
TRANSCRIPT
2012
Annual Report to the Board of Trusteeson the State of the University
John L. Anderson, PresidentOctober 25, 2012
SummaryAn
nual
Rep
ort t
o th
e Bo
ard
of T
rust
ees
on th
e St
ate
of th
e U
nive
rsity
Over the past year the university has achieved most of its goals and is working to set its
sights higher. The FY12 budget targets were met including continued overall net tuition
and enrollment growth, recruitment of new faculty in alignment with strategic objectives,
the funding of a merit pool salary increase for faculty and staff, and the partial funding of
depreciation ($4 million) for capital (facilities) renewal. This was achieved even though the
endowment distribution decreased (according to the board-approved formula) by 18 percent
and, for the first time in more than a decade, the excess endowment draw to fund operations
was eliminated. The university’s financial strength ratio, as calculated by the U.S. Department
of Education to establish eligibility for federal student loan programs, increased sufficiently to
release a letter of credit that partially secured those loan programs, freeing up about
$6 million in working capital.
Enrollments remained strong with 807 new undergraduate and 1,847 new graduate students.
In fall 2012 there are 2,610 full-time undergraduate students, the largest full-time enrollment
since 1983. We have entered a new era when about a third of the incoming undergraduate
students are transfer students; however, many of these transfers enroll in first-year courses,
and nearly all spend at least three years at IIT. Graduate enrollment dropped slightly but is
still very healthy, and our international student enrollment remains robust with 1,158 new
overseas students (65 percent of our new entering graduate students). First-to-second-
year retention for undergraduates again exceeded 90 percent, and the first-to-third year-
retention was 84 percent—best in our history. Most encouraging is the positive student
morale and active leadership by student government. The university continues to benefit
from contributions from outstanding student leaders, which is due in part to our unique
Leadership Academy.
With the exception of its part-time programs, Stuart School of Business moved to Main
Campus; this move has already resulted in more interdisciplinary initiatives between Stuart
School of Business and other units on campus. A world-renowned architect was hired to
be dean of our College of Architecture, 43 new faculty (17 on the tenure track) were hired,
and three endowed professorships were appointed to faculty members hired from outside
the university. An internationally preeminent center (Robert W. Galvin Center for Electricity
Illinois Institute of Technology
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Innovation) was established, and research expenditures exceeded $42 million as federal
stimulus money dried up. Two new vice presidents were appointed to replace colleagues
who retired.
New academic programs include the Entrepreneurship Academy, with the Knapp
Entrepreneurship Center as the foundation, along with a robust curricular offering by Stuart
School of Business; full adoption of IPRO 2.0, which has standardized the teaching of the
two IPRO courses with more emphasis on teaming and communication skills; more than
20 co-terminal degrees were initiated; Armour College of Engineering reorganized its
undergraduate curriculum; and the Board of Trustees approved the formation of the new
Lewis College of Human Sciences and the College of Science.
Major investments in the physical plant include renovations of the 18th and 13th floors of
the Tower to accept the transition of Stuart School of Business to Main Campus; completion
of the 16th floor of the Tower for the Robert W. Galvin Center for Electricity Innovation;
and investment in the smart microgrid infrastructure of the university, the campus wireless
network, and student housing.
Alumni engagement continued to grow substantially, as evidenced by the number of alumni
events held and the attendance at these events. We also saw a substantial increase in
major donations from alumni who were previously non-donors or who donated at a very
small level. The fundraising campaign, which was formally begun with the private phase on
June 1, 2010, did well but did not quite reach its two-year goal. We are on track to reach the
appropriate level of fundraising progress to make the public announcement in February 2013.
The visibility of the university has been increased through efforts by both our Marketing
and Communications staff and our External/Community Affairs staff. Our marketing and
communications activities have been consolidated and better coordinated throughout
the university, and our Admission offices now use our M&C staff for their advertising and
outreach rather than outsourcing it. There were several high-profile appearances by elected
officials on campus—Mayor Emanuel gave two press conferences, and Governor Quinn gave
Illinois Institute of Technology
Office of the President 10 West 35th Street
Suite 1900 Chicago, IL 60616
www.iit.edu
page 2
2012
Illinois Institute of Technology
Office of the President 10 West 35th Street
Suite 1900 Chicago, IL 60616
www.iit.edu
page 3
one. On the academic side, highly recognized speakers were brought to campus, including
the president of Lehigh University, two U.S. Supreme Court justices, and members of the
National Academy of Engineering and Science. The president of IIT chaired the nominating
committee of the National Academy of Engineering, which among other tasks selected the
next president of NAE.
The figures and charts attached to this report provide more quantitative details of progress.
GOALS for FY13
■ Meet the FY13 operating budget target and develop an FY14 budget that continues
to improve and align operations with strategic objectives and incrementally grows the
partial funding of depreciation.
■ Further strengthen our liquidity and continue to preserve and build unrestricted
net assets.
■ Increase the visibility of IIT through marketing with measurable results.
■ Make significant progress in fundraising for the Innovation Center, and meet
campaign goals.
■ Increase enrollment of full-time undergraduate students to 2,750 in fall 2013 and
maintain graduate/professional enrollment.
■ Continue to hire excellent faculty.
■ Further integrate our educational programs in leadership, entrepreneurship, and IPRO.
2012
Illinois Institute of Technology
Office of the President 10 West 35th Street
Suite 1900 Chicago, IL 60616
www.iit.edu
page 4
2012
Figures
Figure 1. Total endowment distributions by year.
$0
$5
$10
$15
$20
$25
$30
FY10 FY11 FY12 FY13 Projection
Mill
ions
Base Distribution Excess Operating Distribution Campaign Distribution
$25.3
$1.8
$8.3
$15.2
$19.0
$2.5
$3.4
$13.1
$15.2
$13.0
$2.5
$10.5
$10.7
$2.5
$8.2
Illinois Institute of Technology
Office of the President 10 West 35th Street
Suite 1900 Chicago, IL 60616
www.iit.edu
page 5
0%
20%
40%
60%
80%
100%
FY10 FY11 FY12 FY13 Projection
Net Tuition and Fees
Grants and Contracts
Endowment Distribution
All Other
52%
20%
12%
16%
51%
23%
8%
18%
57%
21%
5%
17%
57%
21%
4%
18%
6%
21%
54%
Prop
orti
on o
f To
tal R
even
ue
2012
FiguresFigure 2. Total revenue (in $) with detail by major source.
Figure 3. Contributions to revenue (%) from various sources.
$0
$50
$100
$150
$200
$250
$300
FY10 FY11 FY12 FY13Projection
Mill
ions
$217
Net Tuition and FeesTotal Revenues
All Other
Grants and Contracts
Endowment Distribution
$239 $238$251
Illinois Institute of Technology
Office of the President 10 West 35th Street
Suite 1900 Chicago, IL 60616
www.iit.edu
page 6
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000St
uden
t H
eadc
ount
Fall 2009 Fall 2010 Fall 2011 Fall 2012
Year
Undergraduate Total Graduate Total University Total
2,665 2,602
5,172
2,712
5,075
2,801
4,9375,039
7,774 7,787 7,7387,704
FY10 FY11 FY12 FY13
UG Full-Time Undergraduate
2,000
2,500
3,000
2,610
2,4802,437
2,513
2012
FiguresFigure 4. Total fall undergraduate and graduate enrollment.
Figure 5. Full-time undergraduate enrollment.
Illinois Institute of Technology
Office of the President 10 West 35th Street
Suite 1900 Chicago, IL 60616
www.iit.edu
page 7
Fall 2009 Fall 2010 Fall 2011 Fall 2012
Total % of All International Students
37.9%40.2%
42.6% 43.3%
0%
10%
20%
30%
40%
50%
2012
Figures
Figure 7. Research awards (in $). IITRI not included.
Figure 6. International students (%) in undergraduate and graduate enrollment.
$0
$10
$20
$30
$40
$50
$60
$34,037,941$33,191,545
$54,482,934
$44,668,014
FY09 FY10 FY11 FY12
Mill
ions
Figure 8. FACULTY ACCOLADES 2011–2012
■ Pavel Snopok, Physics, received a Department of Energy “Early Career Award.”
■ Shawn Shadden, Mechanical, Aerospace, and Materials Engineering, received a National
Science Foundation “Young Investigator Award.”
■ Darsh Wasan was named a Fellow of the American Chemical Society.
■ John Ronan, Architecture, won the AIA Institute Honor Award for the Poetry Foundation
building in Chicago.
■ Dirk Denison, Architecture, won an AIA Housing Award for design of a Carmel Residence.
■ Xian-He Sun, Computer Science, named an IEEE Fellow.
■ Alan Cramb, Provost, gave the J. K. Brimacombe Memorial Lecture.
■ John Anderson, President, received the National Engineering Award from the American
Association of Engineering Societies.
Figure 9. MAJOR EDUCATIONAL INITIATIVES 2011–2012
■ More than 20 co-terminal (bachelor-master) degree programs were initiated in the last year.
■ Lewis College of Human Sciences and the College of Science were approved by the Board
of Trustees. Lewis College will contain the departments of Humanities, Psychology, and
Social Science; the College of Science will house Applied Mathematics, Biology, Chemistry,
Computer Science, and Physics. The colleges will accept their first classes in fall 2013.
■ Stuart School Business moved to our Main Campus from the Downtown Campus and
completely redefined its undergraduate curriculum.
■ Armour College of Engineering reorganized its undergraduate programs to emphasize four
themes: Water, Health, Energy, and Security.
■ The School of Applied Technology added its first two tenured faculty members (Robert
Carlson and Robert Brackett) and the graduate programs of the Institute for Food Safety
and Health joined this academic unit.
Illinois Institute of Technology
Office of the President 10 West 35th Street
Suite 1900 Chicago, IL 60616
www.iit.edu
page 8
2012
Figures
Illinois Institute of Technology
Office of the President 10 West 35th Street
Suite 1900 Chicago, IL 60616
www.iit.edu
page 9
2012
FiguresFigure 10. Timeline for Fueling Innovation: The Campaign for IIT. Orange line shows quarterly campaign
progress (new cash gifts and pledges) since the initiation of the campaign’s leadership phase in June 2010, including select commitments from lead donors received prior to that date.
Figure 11. Annual fundraising progress (new cash gifts and pledges) from FY08–FY12, including FY13 fundraising goal.
$300
$250
$200
$150
$100
$50
$0
Prog
ress
to
$250
Mill
ion
Goa
l(i
n M
illio
ns)
Leadership PhaseEnds December 2012
$103.8Raised
Star
t
Aug
201
0
Nov
201
0
Feb
2011
May
201
1
Aug
201
1
Nov
201
1
Feb
2012
May
201
2
Aug
2012
Nov
201
2
Dec
201
2
Feb
2013
May
201
3
Aug
2013
Nov
201
3
Feb
2014
May
201
4
Aug
2014
Nov
201
4
Feb
2015
May
201
5
Aug
2015
Nov
201
5
Feb
2016
May
201
6
Fiscal Year Timeline
$144.3FY13 Goal
$176.3
$125
$208.3
$250
$0
Campaign Targets
Campaign Progress
$0
$10
$20
$30
$40
$50
FY08 FY09 FY10 FY11 FY12 FY13 Goal
Mill
ions
$21.0 $21.1$24.2
$41.3 $40.5
$24.8
Figure 12. ADVANCEMENT OF IIT VISIBILITY 2011–2012
■ Press Conferences by Governor Quinn (1) and Mayor Emanuel (2).
■ President John Anderson was named chair of nominating committee to select the new
president of National Academy of Engineering (NAE).
■ Notable speakers (through 9/12): Alice Gast, president, Lehigh University;
Subra Suresh, director, National Science Foundation; U.S. Supreme Court
Justices Stephen Breyer and Antonin Scalia; and Maya Lin, architect
of the Vietnam Veterans Memorial.
■ IIT mentioned/featured in 339 news stories in 103 local, national, and international
media outlets, including: CNN, Crain’s Chicago Business, Chicago Tribune, Huffington
Post, Los Angeles Times, New York Times, NPR, USA Today, Wall Street Journal, and
Washington Post.
■ Architectural Digest named IIT one of “The Ten College Campuses with the Best
Architecture” (August 2011)—and U.S. News & World Report named State Street Village
one of the “Coolest Dorms in the Nation” (March 2012).
■ A New York Times op-ed (February 2012: “Facebook is Using You”) and new book
(I Know Who You Are and I Saw What You Did: Social Networks and the Death of
Privacy) by IIT Chicago-Kent Distinguished Professor of Law Lori Andrews received
significant national media attention.
Illinois Institute of Technology
Office of the President 10 West 35th Street
Suite 1900 Chicago, IL 60616
www.iit.edu
page 10
2012
Figures
Illinois Institute of Technology
Office of the President 10 West 35th Street
Suite 1900 Chicago, IL 60616
www.iit.edu
page 11
2012
FiguresFigure 13. Full-time faculty.
Figure 14. Full-time staff. FT administrative staff are funded by general revenues, and FT research administrative staff are funded by direct charges to research grants.
Tenured/Tenure Track Total
FY10 FY11 FY12 FY13
401
288
423
286
419
283
429
279
0
100
200
300
400
500
0
100
200
300
400
500
600
700
800
FY10 FY11 FY12 FY13
FT Research Admin FT Admin Total FT Admin
63 61
651
61
655
47
658643
712 716 705706
Illinois Institute of Technology
Office of the President 10 West 35th Street
Suite 1900 Chicago, IL 60616
www.iit.edu
page 12
2012
Figure 15. Fall full-time undergraduate enrollment. Female and minority enrollment.
UG FT Female UG FT Minorities
2009 2010 2011 2012
30%
13%
31%
15%
32%
18%
31%
21%288 286 283 279
0%
5%
10%
15%
20%
25%
30%
35%
Figures
Illinois Institute of Technology
Office of the President 10 West 35th Street
Suite 1900 Chicago, IL 60616
www.iit.edu