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President's Report 2014 (PDF)

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President's Report 2014 (PDF) COLLEGE MAGAZINE PRESIDENT’S REPORT 2014 1 PRESIDENT’S REPORT 2014 The Legacy Wall at John G. Fee Glade features the names of more than 3,000 alumni and friends of Berea College, now departed, who included Berea in their estate plans. HOW YOUR STORY BECOMES HIS STORY Every year at Berea College, 1600 stories get a new chapter. In one story a door opens. In another, the wooded path forks. In either case, our young heroes face a world and an adventure they could not have imagined before. What does this have to do with you? You are the door that opens. You are the fork in the path. Without you, there is no story. Naming Berea College in your estate plans or setting up a charitable annuity are just two ways your great story can become part of other great stories. To learn more about annuities, trusts, and bequests, contact the Office of Gift Planning at 800.457.9846, or visit us online at berea.edu/givetoberea. 2 BEREA COLLEGE MAGAZINE CONTENTS BEREA COLLEGE MAGAZINE FEATURES 5 President’s Report Our Berea: From Exploration to Action 11 How Does Berea Make the Impossible Possible? 12 A Privilege and a Challenge 13 Honor Roll of Giving 13 John G. Fee Society 13 Founders’ Club 14 President’s Club 16 Second Century Club 19 Mountaineer Club 20 Berea Patrons 21 Alumni by Class Year 29 Honorary Alumni 29 Class Rankings Anna Skaggs, ’17 Anna Skaggs, 30 Faculty and Staff Contributors 30 Friends of Berea College 34 Great Commitments Society The recently renovated Knapp Hall provides staff and students beautiful spaces to study, share ideas, and relax. 37 Memorial Gifts 39 In Honor of Gifts 40 Bequest Gifts 40 Corporate and Matching Gifts 41 Alumni Councils 42 Corporate Employee Gift Matching Programs and How They Benefit Berea DEPARTMENTS 44 Class Notes 45 Passages Front Cover: Photo by Chris Radcliffe VOLUME 84 PRESIDENT’S REPORT 2014 Number3 1 LET US KEEP YOU in the CONVERSATION COLLEGE MAGAZINE J. Morgan, Editor Linda Kuhlmann, Graphic Designer Contributing Writers: Jacob Appelman, ’15, Amy Shehee, ’91, Scott Tracey Contributing Photographers: O’Neil Arnold, ’85, Caleb Coffey, ’17, Chris Radcliffe, Anna Skaggs, ’17 CORRESPONDENCE AND REPRINTS If you have comments, questions, or suggestions for the Berea College Magazine or would like information about reprinting any article appearing in the magazine, please contact: Editor, Berea College Magazine Berea College CPO 2142 Berea KY 40404 AT YOUR SERVICE Web: www.berea.edu Mail: CPO 2203, Berea, KY 40404 ALLISON FITISONE CAROLINE ARTHUR MARISSA WELLS LUCIO IXCOY Phone: 859.985.3104 Toll free: 1.866.804.0591 Fax: 859.985.3178 Berea College Magazine (ISSN 1539-7394) is published quarterly for Berea College alumni and YOUR 2014-15 BEREA COLLEGE SOCIAL MEDIA TEAM friends by the Berea College Integrated Marketing and Communications department. POSTMASTER: Send address corrections to the Berea College Office of Alumni Relations, CPO 2203, Berea, KY 40404. Berea College is a 501(c)(3) charitable organization under federal guidelines. FACEBOOK TWITTER INSTAGRAM FSC LOGO /BereaCollege @BereaCollege @Berea_College /BereaCollegeAlumni @BereaAlumni 4 BEREA COLLEGE MAGAZINE PRESIDENT’S REPORT OUR BEREA: FROM EXPLORATION TO ACTION Dear Berea Friends and Alumni, Greetings from the Office of the President! I am pleased to present the 2013-14 President’s Report and recommend it for your review. Lyle D. Roelofs By Lyle D. Roelofs, President The Report presents information about our As president, I find myself both been truly inspiring to see the dedication solid financial position and data related surrounded and supported by Berea’s past. and excitement with which the work of to our sources of financial support. It also Although at many institutions providing the committees is pursued—not exactly the lists the names of the Berea College Board leadership means finding new directions, typical state of committee work in a college of Trustees and national alumni leaders, all at Berea, I have found that the history of environment or any other! of whom provide without compensation the institution often provides the most The following pages highlight the their time, their passion, their professional important leadership themes, themes contributions from and to our community expertise, and their leadership to help embodied in the durable eight Great that enable faculty and staff to continue guide this remarkable and transformative Commitments. While they were not written to serve, and through serving, to pass the institution. In reading our report I am down in their approximate present form values of the Great Commitments on to struck anew with amazement at just how until the early 1960s, careful examination the next generation. Wallace Nutting, the many people help support and sustain the of the college’s history confirms that they American printmaker and artisan who was mission of Berea College as captured in its were in place earlier, with some extending so influential in our student crafts program, eight Great Commitments. Berea College all the way to the founding of the college. had a list of maxims, the last of which is, could not continue that mission, could not Still today the Commitments are an active “Let nothing leave your hands until you even exist, absent the commitment of our part of daily life on campus. are proud of the work.” That is how we supporters. On campus, we never forget In last year’s report, I outlined the feel about the mission of Berea College. At that, not even for a moment. launch of a year-long set of conversations Berea College all hands work together—the It has been another rich year for on campus, an initiative called “Our hands of faculty, staff, students, and our Laurie and me, as we continue our work Berea—Exploring the Commitments.” supporters—to proudly carry out a unique on campus and our travels to get to This work has been undertaken by eight and compelling mission, one that boils know this amazing extended community Great Committees, as we are calling down to making it possible for every last through its many intertwining stories. To them, each focusing on one of the Great one of our students to achieve their goals. those of you whose paths we crossed this Commitments. I am happy to report that In all of these efforts, the engagement year, we give thanks for your warm and the work of the committees remains on and support of our alumni and friends gracious welcome and for sharing your schedule and will be complete by the end of remain vital. We hope you will join us Berea experiences. Aside from the inspiring the calendar year. Thanks to the dedication and all other Life-Long Bereans in that mission of the college, the most enjoyable of the faculty, staff, and student volunteers, rewarding participation in the community aspect of being involved in its leadership we will have a better shared understanding we call “Our Berea!” is hearing those stories, stories which if of each Commitment, a set of goals to written down would constitute a book guide our actions, and a clear sense of the Warm regards, remarkable for its interest and its gravitas. resources we need to ensure our core values Small wonder Berea College pays such close are reflected in all we do. Watching this attention to its history! work be done over the last year, it has Lyle D. Roelofs PRESIDENT’S REPORT 2014 5 DESIGNATION OF FUNDS July 1, 2013–June 30, 2014 Capital Purposes $13,688,702.60 Current Operations Endowment $10,492,858.41 $8,029,006.09 Other $323,745.80 6 BEREA COLLEGE MAGAZINE SOURCE OF SUPPORT July 1, 2013–June 30, 2014 Foundations, Corporations and Other Sources $22,074,437.86 Friends $7,304,660.02 Alumni $3,135,215.02 PRESIDENT’SPRESIDENT’S REPORT REPORT 2014 2014 77 STATEMENTS OF FINANCIAL POSITION STATEMENTSJune 30, OF 2014 FINANCIAL and 2013 POSITION June 30, 2014 and 2013 2014 2013 ASSETS CURRENT ASSETS Cash and cash equivalents $ 57,833,858 $ 57,668,611 Receivables and accrued interest 6,610,833 8,140,000 Inventories 1,278,425 1,322,703 Prepaid expenses and other assets 405,260 71,950 Contributions receivable and bequests in probate 19,808,823 12,825,938 Total current assets 85,937,199 80,029,202 LONG-TERM PREPAID EXPENSES AND OTHER ASSETS 905,317 930,297 LONG-TERM CONTRIBUTIONS RECEIVABLE AND BEQUESTS IN PROBATE 11,511,121 7,494,630 LONG-TERM RECEIVABLES 1,181,350 1,044,093 LONG-TERM INVESTMENTS Donor-restricted endowment 629,978,200 564,354,100 Tuition replacement 507,243,800 448,047,000 Annuity and life income 28,832,700 26,790,500 Funds held in trust by others 28,378,000 25,347,000 Total long-term investments 1,194,432,700 1,064,538,600 PROPERTY, PLANT AND EQUIPMENT (net) 160,952,695 152,502,852 Total assets $ 1,454,920,382 $ 1,306,539,674 LIABILITIES AND NET ASSETS CURRENT LIABILITIES Accounts payable and accrued expenses $ 7,970,178 $ 9,860,032 Accrued salaries and wages 3,441,131 3,099,511 Deposits and agency funds 592,563 553,618 Deferred income 139,648 122,600 Current portion of interest rate swap valuation 861,082 879,437 Current maturities of long-term debt 3,247,704 3,119,441 Total current liabilities 16,252,306 17,634,639 LONG-TERM LIABILITIES Actuarial liability for annuities payable and other liabilities 12,803,886 12,724,070 Interest rate swap valuation 3,808,718 3,608,363 Long-term debt 51,796,013 55,600,997 Total long-term liabilities 68,408,617 71,933,430 Total liabilities 84,660,923 89,568,069 NET ASSETS Unrestricted 612,733,472 546,261,917 Temporarily restricted 472,503,589 393,167,548 Permanently restricted 285,022,398 277,542,140 Total net assets 1,370,259,459
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