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ANNUAL REPORT FY13: July 1, 2012–June 30, 2013

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ANNUAL REPORT FY13: July 1, 2012–June 30, 2013 COLLEGE OF THE ATLANTIC Annual Report Fiscal Year 2013 FY2013 GIVING AT A GLANCE $6.1M 40.8% OVERALL GIVING ALUMNI & PLEDGES PARTICIPATION STAY CONNECTED TO COA WWW.COA.EDU 3,006 www.facebook.com/collegeoftheatlantic GIFTS RECEIVED FOR ALL FUNDS twitter.com/#!/collegeatlantic www.coa.edu/coa-videos newsworthy.coa.edu All of the latest news and events from COA. 83.3% $32M Every eff ort has been made to ensure accuracy in preparing all donor lists for this annual report. If a mistake SENIOR RAISED FOR has been made in your name, or if your name was omitted, we apologize. Please notify the development offi ce at 207- CLASS GIVING COA’S CAPITAL 801-5622 with any changes. PARTICIPATION CAMPAIGN ( ) Donors with parenthesis around their class years are alumni who are not COA graduates. * Those donors with asterisks passed away during FY13. COA ANNUAL REPORT FY13: July 1, 2012–June 30, 2013 Thank you from the President We at College of the Atlantic have so many people to thank for so many things. Think of all the parts and pieces that have come together to help COA senior Jane Strader successfully model the impact of sea-level rise on Maine Islands: the faculty, the staff , the intellectual and material tools, the housing and food, the boat transport, the fellowship with other students, the platform to recover from failed trials, the partnership development with Acadia National Park, the guidance on writing, the ink to print. The list is long and varied and you have helped assemble all those pieces for Jane′s intellectual and personal growth and have laid the foundation for thousands more like her. The pages that follow are a celebration of our gratitude for such philanthropy, for such love of humanity. From the recent graduate who managed to scrape a gift together to join the 40.8% of alumni who contributed to the college this year, to the million dollar donor; from the faculty and staff who have dedicated their lives to making this college great, to the trustees and countless other volunteers who fi nd the time to give, thank you. Darron Collins ′92, PhD COA President FINANCIALS from the Administrative Dean In Fiscal Year 2013, our total fund balance increased from $55.5 million to $59.4 million primarily due to growth in our endowment. During the the fi scal year, we had endowment gains and earnings of $5.2 million, received and invested new gifts of $2.5 million, and allocated about $1.3 million to the operation of the College. The major source of operating revenue, as shown by the charts, continues to be net tuition. Our tuition and fees grew from the prior year by $227 thousand to $11.8 million, but student aid increased by $596,000, decreasing net tuition by $369,000. This is the second year of decreasing net tuition as we are still seeing the eff ects of the slow economy and the need for more fi nancial support for students. We fell $156 thousand short of meeting our goal of $1 million for the annual fund as it has been a challenge to maintain support for the annual fund during the capital campaign, and the special campaign toward the renovation of Turrets, for which we raised over $1 million. We have been fortunate to have several generous restricted grants, including the Davis UWC Scholarships, which have provided support for the operating budget.* We have continued to hold the line on the expense side of the ledger, with few exceptions. As we had a critical need to renovate Turrets to avert further exterior deterioration, we borrowed $2 million from our endowment, with a repayment plan that will have a modest impact on the operating budget. Our major on-going expense increases have been modest salary raises and additions to the faculty to keep pace with growth of student enrollment. We have not cut back on programs or important services to our students, but we have not added staff nor provided signifi cant salary increases. Generally our budgets have remained remarkably static over the last several years. We completed the capital campaign successfully and raised support for the Turrets. President Collins has engaged the campus to support our student recruiting initiatives, which include visiting 50 secondary schools this fall. The reputation of the college as refl ected in newspaper articles and national rankings is becoming less of a tightly guarded secret. *Our operating budget diff ers from our audited fi nancial statements as it includes the expense of capital equipment, but it does not include depreciation. Capital campaign expenses are capitalized. Andrew S. Griffi ths COA Administrative Dean & Chief Financial Offi cer 2 | www.coa.edu/support FINANCIAL SUMMARY Unaudited & rounded to nearest $1,000 COA Fund Balances June 30, 2010 June 30, 2011 June 30, 2012 June 30, 2013 Plant & Equipment (Net Of Depreciation) 22,170,000 22,923,000 22,278,000 22,474,000 Long Term Debt (9,325,000) (9,070,000) (8,730,000) (8,410,000) Endowment 19,594,000 25,390,000 29,288,000 35,751,000 Advance Payment From Davis Fdn 5,729,000 4,436,000 2,618,000 1,619,000 Other Net Assets 4,380,000 7,582,000 10,068,000 7,982,000 Total Fund Balances 42,548,000 51,261,000 55,522,000 59,416,000 OPERATING BUDGET FY10 FY11 FY12 FY13 FY14 Operating Revenues Tuition & Fees 10,518,000 11,558,000 11,611,346 11,838,434 13,500,000 Less Coa Student Financial Aid (4,507,000) (5,316,000) (5,709,937) (6,305,933) (7,850,000) Net Tuition After Financial Aid 6,011,000 6,242,000 5,901,409 5,532,501 5,650,000 Contributions-Annual Fund 931,000 843,000 1,000,000 844,337 950,000 Davis Fdn Uwc Grant 1,915,000 2,132,000 2,029,802 1,518,030 1,200,000 Endowment Allocation To Operations 766,000 911,000 1,056,549 1,253,881 1,566,000 Government Grants 392,000 656,000 626,249 539,994 540,000 Other Restricted Gifts & Grants 614,000 1,360,000 1,830,000 557,000 670,000 Student Housing & Dining 1,269,000 1,225,000 1,257,457 1,356,227 1,375,000 Summer Programs & Farm 662,000 733,000 861,508 801,565 851,000 Other 153,000 186,000 530,026 286,913 106,000 Total Revenues 12,713,000 14,288,000 15,093,000 12,690,447 12,908,000 Operating Expenses Instruction & Student Activity 3,429,000 3,693,000 3,873,408 4,139,850 4,204,000 Student Housing, Dining & Grounds 1,257,000 1,291,000 1,311,450 1,318,398 1,341,000 Davis Fdn Uwc Grant Expense 1,915,000 1,915,000 1,829,802 1,318,030 1,000,000 Work Study Expenses 305,000 940,000 903,557 831,557 851,000 Summer Programs, Museum & Farm 591,000 622,000 677,358 598,429 636,000 General Administration 1,150,000 1,215,000 1,194,065 1,245,132 1,269,000 Payroll Taxes & Fringe Benefi ts 1,701,000 1,885,000 2,010,044 2,041,197 2,052,000 Development & Admissions 1,097,000 1,095,000 1,124,796 1,054,434 1,085,000 Interest & Debt Service 586,000 577,000 645,000 648,000 690,000 Grants, Research & Projects 603,000 810,000 1,302,000 — — Capital Equipment 72,000 196,000 121,808 63,000 80,000 Total Expenditures 12,706,000 14,239,000 14,993,289 13,258,026 13,208,000 Net Operating Surplus Before Transfers (Loss) 7,000 49,000 99,711 (567,579) (300,000) Transfer From FY09 To FY10 300,000 n/a n/a n/a n/a Transfer From FY10 To FY11 (300,000) 300,000 n/a n/a n/a Transfer From FY11 To FY12 n/a (347,000) 347,000 n/a n/a Transfer From FY12 To FY13 n/a n/a (100,000) — — Net Operating Surplus After Transfers (Loss) 2,000 2,000 (289) (567,579) (300,000) www.coa.edu/support | 3 FY13 GIVING BREAKDOWN Funds Supported Who Gave Annual Fund Capital Campaign COA is small, More than 3,000 gifts were Students, staff, and COA′s largest campaign so gifts to any part of donated this fiscal year faculty members feel ever came to a successful our institution help the by all members of COA′s the impact of your completion during entire institution. global community. gift every day. this fiscal year. Annual Fund Alumni* Alumni* Endowed Chairs $844,337 $157,667 $93,248 $1,462,858 Campaign/Endowment Friends Friends M.V. Osprey $2,697,738 $2,437,061 $51,452 $62,500 Active Grant Funds Parents Parents Unrestricted $610,211 $670,658 $47,401 $33,991 Scholarships Active Project Funds Foundations Trustees $790,479 $547,405 $875,964 $285,786 Fund for Global Sub Total: $4,760,138 Businesses The Champlain Society Engagement $436,755 $363,568 $400,000 Pledges to All Funds Trustees Businesses Other $1,369,205 $802,111 $16,292 $4,000 TOTAL TOTAL TOTAL TOTAL $6,129,343 $4,756,960 $844,337 $3,330,048 *Alumni trustees are listed under the Trustee heading. 4 | www.coa.edu/support THANK YOU from the Board Chair This Annual Report for Fiscal Year 2013 acknowledges and celebrates the many supporters of College of the Atlantic who help make this institution vibrant, innovative, and academically excellent.
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