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Cornell University Financial Report 2006-2007

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Cornell University Financial Report 2006-2007 1 The Cornell universi The Cornell A Message from the President T y r epor T 2006–07 Dear Cornellians and Friends of the University, he year that ended June 30, 2007, was one of significant achievement for Cornell: a near-record number of Cornell faculty members elected to distin- guished national academies; the largest number of applications ever received for places in the first-year class; an impressive number of Rhodes, Marshall, T Luce, Goldwater, Udall, and other national and international scholarships earned by our students and recent alumni; national recognitions of our efforts to be an employer of choice; the successful launch of one of the largest university-wide fund- raising campaigns in the history of American higher education; and the best year in fund-raising in the history of Cornell. This report documents some of the ways in which Cornell has demonstrated national and international leadership this year while also advancing the priorities that will enable it to continue to attract, inspire, and support the world’s best faculty, staff, and students over the longer term. David J. Skorton President Cornell University David Skorton named president • Cornell welcomes student refugees from Hurricane Katrina • Hunter Rawlings signs education agreement in China • Rawlings addresses intelligent design head-on • students take outreach to developing world • faculty take lead on strategic planning initiatives and on sustainability • faculty members win national recognition 2 2006–07 T epor r y T niversi u he Cornell he Cornell T David Skorton named president • Cornell welcomes student refugees from Hurricane Katrina • Hunter Rawlings signs education agreement in China • Rawlings addresses intelligent design head-on • students take outreach to developing world • faculty take lead on strategic planning initiatives and on sustainability • faculty members win national recognition 3 The Cornell universi The Cornell Major Themes of the Year T y r epor T 2006–07 David J. Skorton inaugurated as Cornell’s 12th president • Cornell announces $4 billion capital campaign • India trip strengthens international land grant efforts • Cornell celebrates Ezra’s 200th birthday • Economic Impact on New York State report issued • Cornell responds to Virginia Tech tragedy • Sustainability efforts gain momentum • Mars rovers keep on roving “Dance,” urged Cornell’s 12th president David J. Board of Trustees chair Peter Meinig, Weill Cornell Skorton in his inaugural address on September 7. Dean Antonio M. Gotto Jr., Weill Cornell Board of “As we glimpse the first, hazy outline of our upcom- Overseers chair Sanford Weill, and New York mayor ing sesquicentennial, let us now accept all of the Michael Bloomberg formally announced Cornell’s rhythms, music, planning, reconsideration, redraft- $4 billion plus capital campaign, $1.3 billion of ing, replanning, restarting, and consummation— which will be raised by Weill Cornell. It is the larg- the dance that is and must be—Cornell.” est philanthropic campaign in Cornell history and peaking before several thousand Cor- among the largest ever attempted by an institution nellians on the Arts Quad, Skorton of higher education. announced five propositions that out- The next day the president presented his inaugu- lined his vision for the university: ral State of the University address in Ithaca. He out- strengthening the undergraduate ex- lined past accomplishments, new initiatives, and perience; optimizing the employee en- the challenges that need to be met by the campaign vironment; consolidating relation- as the university approaches its sesquicentennial ships among Cornell’s disparate cam- year. They include recruiting a new generation of Spuses; promoting the arts, humanities, and social faculty and achieving gender equity among their sciences; and using Cornell’s land grant and out- ranks; addressing students’ financial needs; sup- reach missions to better serve global needs. porting humanists in the face of dwindling public “We are most actualized as a faculty, staff, and funding; improving facilities; and maintaining a student body when our efforts affect those beyond leading academic health center. All of these areas our boundaries,” Skorton said. “Whether the focus need to be addressed “to attract the students and is on diversity and the campus climate or on Ithaca, faculty of tomorrow,” Skorton said. Tompkins County, New York State, the United Cornell enjoyed statewide exposure in Septem- States, or the global community, Cornell must look ber serving as host to the election season’s first gu- ever outward, ever more broadly.” bernatorial debate between Eliot Spitzer and John On October 26 the university announced a bold Faso. Characterized by edged attacks and wry hu- plan to help realize that vision. With the Weill Cor- mor, the debate, held in the newly refurbished Bai- nell Medical College in New York City as a stage, ley Hall, was televised across New York. It was the Skorton, Provost Biddy Martin, Vice President for first New York gubernatorial debate between major Alumni Affairs and Development Charlie Phlegar, party leaders in 24 years. Cornell hosted the debate 4 2006–07 T epor r y T LEfT: At the celebration for the launch of Cornell’s $4 billion capital campaign Oct. 27 in Barton Hall, giant screens show scenes of students and faculty at work. frank Robinson, director of the Johnson Museum, called the production a “great work of art all on its own.” RIgHT: graduate student Alessandro Cerruti, left, works with Professor Paul Kintner niversi u on the roof of Phillips Hall, maintaining an antenna. They have found that the kinds of large solar flares expected in five years or so could produce massive outages of all gPS receivers on the day side of the Earth. he Cornell he Cornell T with the New York State League of Women Voters In February Cornell’s role as an economic engine and Time Warner Cable. in New York State was for the first time quantified The debate was just one of many events that by the inaugural study “Cornell University Eco- brought notable speakers to Cornell during the year. nomic Impact on New York State.” Commissioned Other visitors included Israeli elder statesman Shi- by President Emeritus Hunter Rawlings and en- mon Peres, China’s ambassador to the United States dorsed by President Skorton, the study revealed that Zhou Wenzhong, former senator and presidential Cornell generated an estimated $3.3 billion in eco- candidate George McGovern, NAACP chairman Ju- nomic activity and supported more than 33,000 lian Bond, veteran White House correspondent jobs in New York State in 2005. University officials Helen Thomas, New York Times columnist Nicholas regard the document as one of many that will il- Kristof, Nobel laureate and former NIH director lustrate Cornell’s diverse impacts on the state’s Harold Varmus, author and animal scientist Temple economy as they look toward shaping the universi- Grandin, and Pakistani president Pervez Mushar- ty’s future and how it can best interact with New raf, who spoke at Weill Cornell Medical College in York’s citizens. New York City. “The reality is that Cornell in all probability Seeking to extend Cornell’s mission as the world’s touches the state and its citizens more comprehen- land-grant university, President Skorton led a Cor- sively than any other single university through its nell delegation on a 10-day, four-city tour of India research, teaching, and land grant mission,” said in January. He met and consulted with the coun- Stephen T. Golding, executive vice president for fi- try’s prime minister, Manmohan Singh, and presi- nance and administration. “The breadth of ways dent, A.P.J. Abdul Kalam, as well as with influential that Cornell impacts the state is truly amazing and leaders in government, industry, and education in should make all Cornellians very proud.” New Delhi, Mumbai, Bangalore, and Hyderabad. In April, Cornell, like the rest of the nation, was These included Ratan Tata, B.Arch ’62, chairman of shaken to its core by the shootings at Virginia Tech. Tata Sons Ltd., and N.R. Narayana Murthy, chair- At a Sage Chapel memorial on April 19 President man and chief mentor of Infosys Technologies Ltd. Skorton spoke of the singular spirit that joins all Both men are Cornell trustees. people. “We are one,” he said. “We are one com- January also saw the kickoff of a series of events munity, one people, one planet. We are here today organized to celebrate the 200th birthday of Ezra to affirm that oneness. We will stay together, we Cornell. They began on the Founder’s birthday, Jan- will go forward together, we will never forget our uary 11, with a “Library Salute to Ezra” in the Carl loss. We are one.” A. Kroch Library. Other events included an exhibi- The Virginia Tech tragedy served to hasten Cor- tion of historic documents and objects and an aca- nell’s emergency response efforts. Planning for a demic symposium. The Cornell Chronicle launched pandemic flu event had been under way since March “The Ezra Files,” a weekly column detailing who 2006, and the university’s general emergency pro- Ezra Cornell was and how he evolved into a philan- cedures were also being revamped. Since Virginia thropist dedicated to founding New York’s land- Tech an emergency contact process has been put in grant university. The column features excerpts from place that will allow students, faculty, and staff to letters written to and by Cornell. be quickly alerted and provided with information. 5 The Cornell universi The Cornell LEfT: Thurston Avenue Bridge reconstruction was under way for much of the year. RIgHT: New York gubernatorial candidates Eliot Spitzer, left, and John faso participate in a T y televised debate in Bailey Hall on September 26. r epor T 2006–07 This will be augmented with siren/public address systems and electronic message boards placed Notable Rankings around campus.
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