(2009) President's Report
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Marquette University President’s Report 2 0 0 9 2 A Letter from the President 4 Fiscal Review 10 Investment Overview 16 Financial Statements 18 Board of Trustees 09 20 Marquette Moments with powerful gifts comes great responsibility M a j o r H i g H l i g H t s A special initiative that Another record year raised $1.1 million in less for new student than six months to provide applications, almost additional scholarship 18,000 for fall 2009, aid assistance for students up 17 percent from and families whose financial the prior year. circumstances suddenly shifted because of the economic downturn. The funding helped 200 students remain at Marquette through the spring 2009 term. with powerful gifts comes great responsibility Moving forward with Opening a renovated Planning for the Centennial major capital projects, student residence hall Celebration of Women including Eckstein Hall, the for sophomores named for at Marquette to recognize new Law School building, President James McCabe, our historic role as the first and Zilber Hall, the new S.J., whose commitment Catholic university in the student services and to enrolling women world to offer coeducation administrative office continued the university’s in undergraduate programs. building, and preparations founding mission of for the College of providing educational Engineering Discovery access to all who seek it. Learning Complex. 2 | dear friends, I write to you as Marquette University Providing deserving students with closes another year, one that was access to a rigorous education has characterized by record enrollment for always been a key priority for Marquette. the freshman class, a considerable This year’s challenging economy and increase in the number of current the resulting sudden and unexpected students in need of additional scholarship changes in family circumstances aid to continue at Marquette and some caused prospective students and a outstanding examples of our heightened good many current students to seek role in regional economic initiatives. We larger amounts of scholarship aid. also kicked off our yearlong Centennial Given the priority I mentioned, the Celebration of Women at Marquette to university’s response was prompt properly mark the university’s historic and generous. First of all, we made role in this revolutionary change in available to students an additional Catholic higher education. The admission $4 million in scholarship aid. Then the of women in 1909 is unquestionably Board of Trustees launched a scholarship among Marquette’s top historical initiative to help our families bridge footprints as a leader in making higher the gaps that developed between education accessible to all students who what they could afford to pay and seek it as well as a point of pride for those the actual cost for students to continue of us who love this university. This year’s at Marquette. The Board called this 40th anniversary of the Educational initiative the “Bridge to the Future,” a Opportunity Program provided yet perfect metaphor for the effort that in another moment for celebrating our difficult times has so far raised more commitment to educational access. than $1.1 million and helped nearly 200 current students to remain at Since our efforts as a university Marquette. In addition, the Office of community are primarily in the service Student Financial Aid worked with close of students, I’ll begin there. Once again to 400 students last year specifically to we received a record number of freshman address their or their family’s changing applications – this year almost 18,000, finances, and already this year that up 17 percent from last year – number has increased by more than demonstrating the high interest in 40 percent. Never before in my time Marquette, and in late August we as president has the need been this welcomed approximately 1,950 urgent. Thankfully we received, and freshmen. Academically, they constitute continue to receive, many wonderful one of the strongest entering classes and generous responses from alumni we have ever enrolled, and among and university friends who want to them are 61 valedictorians and about help our students complete their 440 first-generation college students. Marquette degrees. 2009 president’s report | 3 dear friends, Rev. Robert A. Wild, S.J. Faculty researchers, and Marquette as Tory Hill will provide a wonderful new a whole, are contributing to important home for the Law School. By the time regional economic initiatives. For your receive this Annual Report, our example, Marquette is a regional new student services building, Joseph partner in the Milwaukee 7 Water Council, and Vera Zilber Hall, will be open and in a consortium connecting local full operation. Another project that is corporations with academia in an generating tremendous excitement is initiative focused on leveraging one the College of Engineering’s Discovery of the region’s most important assets, Learning Complex. Our Board of fresh water. Marquette has also joined Trustees has approved moving ahead other universities in forming the with the first phase of construction of Southeastern Wisconsin Energy this $100 million project. We expect to Technology Research Center to break ground in spring 2010 with initial develop research in the energy field occupancy planned for August 2011. that can foster economic growth. This year as well Marquette celebrated None of these good things would have the achievements of faculty members been possible without the extraordinary Dr. David Baker and Dr. John Mantsch, generosity and commitment of whose research efforts resulted in Marquette’s alumni and friends, and completion of a license agreement to we are resolved to be vigilant in develop and commercialize chemical stewarding those gifts wisely and to compounds that have shown promise look for further ways to ratchet up the as a novel treatment for schizophrenia quality of Marquette’s teaching and and other central nervous system research, our commitment to our conditions. And the College of Jesuit and Catholic character, and the Engineering announced a third faculty strength of our financial resources. chair, this one in secure and renewable energy systems, that was generously As always, thank you for your help and funded by alumnus Thomas Werner, support for this great university, and Eng ’86, and his wife, Suzanne. in the year ahead may God abundantly bless you and all those you love. A number of quite new and innovative academic programs are flourishing as each of our 11 colleges works to fulfill the expectations students have of a top university. In addition, Eckstein Hall is moving rapidly toward completion. When finished in summer 2010, this Rev. Robert A. Wild, S.J. extraordinarily beautiful building on P resident 4 | A Year of Careful Stewardship At Marquette, we groom tomorrow’s leaders. One way we do that is to lead by example. That means planning ahead. Demanding accountability. And ensuring that every dollar we spend is spent wisely. Never have these qualities been more important than in the past year. But by adhering to this measured approach, Marquette is well-positioned to continue to make a difference in the lives of its students and the world in which we live. 2009 president’s report | 5 A Year of Careful Stewardship At Marquette, we groom tomorrow’s leaders. One way we do that is to lead by example. That means planning ahead. Demanding accountability. And ensuring that every dollar we spend is spent wisely. Never have these qualities been more important than in the past year. But by adhering to this measured approach, Marquette is well-positioned to continue to make a difference in the lives of its students and the world in which we live. 6 | Financial Aid Budget Allocation (dollars in millions) $72.6 $76.3 $80.3 2008 2009 2010 Solid Performance in a faculty, staff and trustees, Challenging Economy provides immediate scholarship The unprecedented economic aid for students whose changing environment of the past year economic circumstances threaten affected all members of the their ability to continue their Marquette family — students, Marquette education. parents, donors, faculty and administration. The university rose Donors contributed more than to the challenge, actively responding $1.1 million to the fund through to the changing economic climate November 2009. One example of while maintaining our conservative the fund’s impact was one donor’s financial position and the traditionally gift of $250,000 that enabled 55 high educational standards that students to stay at Marquette through are Marquette’s trademark. the remainder of the academic year. The Bridge to the Future Fund Financial Aid and Scholarships illustrates the commitment and Recognizing that the economy is generosity of the Marquette affecting students and their parents community when it comes to our through declines in investments, students and their families. salary freezes, job losses and other factors, in spring 2009, Marquette’s Scholarship Aid Initiative Board of Trustees established the In the area of scholarships, a new Bridge to the Future Fund. This partnership with the Boys & Girls initiative, which was supported Clubs of America will provide three with gifts from alumni, friends, full-tuition scholarships to the organization’s national Youth of the Year award winners, beginning in fall 2010. Former Marquette student and NBA basketball star Dwyane Wade returned to campus NBA star Dwyane Wade to announce his endorsement of with two members of the this partnership, which is the first Boys & Girls Clubs of in the nation for the Boys & Girls Greater Milwaukee Clubs of America. Marquette has taken the lead as the national model for this partnership that the Boys & Girls Clubs hope will be widely replicated with university participants nationwide. 2009 president’s report | 7 Enrollment and Retention Once again proving that Marquette attracts the best and brightest, nearly 18,000 prospective students applied for fall 2009 admission.