WABASH COLLEGE 2003-2004 Honor Roll of Donors From the President From the Dean for Advancement From the Chief Financial Officer Financial Statement From the Chairman of the Campaign for Leadership Benchmarks for the Campaign for Leadership Campaign Donors $10K-$1 million Corporate Donors $10K-$1 million Campaign for Leadership Executive Committee Benchmarks for the Campaign for Leadership Campaign Donors $10,000 and Above Corporations and Foundations of $10,000 and Above From the Chairman of the 1832 Society Edmund O. Hovey Circle Frank H. Sparks Circle Elihu W. Baldwin Circle Byron K. Trippet Circle Caleb Mills Circle From the Chairman of the Wabash College Annual Fund Old Wabash Club Scarlet Flag Club Little Giant Club From the Director of Alumni Affairs The Society of Wabash Class Agents Annual Fund Class Gift Chairmen Class Giving Breakdown Top Ten Lists Other Giving Groups 25 of More Consecutive Years of Giving Honor Gifts Kane Society Matching Gifts President's Club Memorial Gifts Corporations Other Organizations Faculty and Staff Parents Foundations Trusts and Bequests Friends From the Coordinator of Volunteer Services National Association of Wabash Men Presidential Inaugurations NAWM Board of Directors Student Life NAWM Regional Associations Teaching and Learning Admissions Varsity Sports Alumni Affairs Wabash Magazine Editorial Advisory Board Capital Campaign for Leadership Wabash Magazine Volunteer Contributors Career Services Board of Trustees Community Honor Roll 2003-2004 From the President Dear Friends, Congratulations to all who helped make the Wabash College Campaign for Leadership the extraordinary success it was! The Campaign raised over $136 million, far out-pacing the original $100 mill goal. It provided the financing for immediate campus improvements and assured the College's sound financial status for years to come. The Campaign did all that and much more. One of our most important Campaign goals was re- connecting Wabash and her sons around the country. Since it is difficult for many of you to travel to Wabash, we brought Wabash to you—in the form of popular professors who taught classes to alumni groups from California to New York. These "Wabash on the Road" events let alumni experience what current Wabash men are hearing and thinking about in class; they also brought Wabash men of different generations together. The Campaign engaged hundreds of alumni as recruiters for the College; we saw a big increase in the number of prospective students. There are beautiful new buildings on campus now, places that encourage good teaching, learning and research. Students and faculty have finer equipment to use in their intellectual explorations. There are more opportunities for national and international travel. The immersion learning trips literally open the world to young Wabash men who learn how small it is and how much they are a part of it. Over the long life of this College there have been many honorable moments when the men and women who love Wabash have stood to be counted in its behalf, but I daresay there has never been anything like the munificence of the campaign for Leadership. You revealed your affection for Wabash in every way: your visits; financial generosity; volunteering to help recruit students; calls on your classmates to solicit money; and, service on advisory committees. In the six years of the Campaign for Leadership, you propelled Wabash College into this new century and you have infused it with energy. You have provided what it needs now and you have guaranteed a strong future. You have the heartfelt thanks and gratitude of all of us privileged to have a part in maintaining the College. Sincerely, Andrew T. Ford H'03 President From the Dean for Advancement Dear Alumni, Parents, and Friends of Wabash College, Among the thousands of letters and notes I write each year, this is among my favorites because it gives me another opportunity to thank you for investing in Wabash’s mission to educate young men to think critically, act responsibly, lead effectively, and live humanely. I hope you’ll enjoy reading through this year’s Honor Roll, seeing not only your own name but the names of the other Wabash faithful who have given of themselves to help our students. Gifts of all sizes and types are honored here. Gifts of time—those who volunteered to help Wabash in myriad of ways—are honored here. Your class, your giving clubs are honored here. As you peruse this year’s report I hope you’ll take time to reflect on and celebrate a great year. In 2003-2004 you helped us win the Campaign for Leadership with over $136 million in gifts and pledges. You helped us record the third highest annual giving total in College history (let’s strive for the highest in next year’s Honor Roll!). You helped us engage more volunteers than at any other time in the school’s history. More importantly, you directly supported 850 talented young men who have enjoyed state-of-the-art learning facilities, new living facilities, off-campus programs available to them without additional costs, and new undergraduate research opportunities. This is all a result of your generosity and dedication to Wabash’s students. It is my pleasure to thank you for all you have done to make our great College a better place. I look forward to writing to you again next year. Sincerely, Joseph R. Emmick '92 Dean for Advancement From the Chief Financial Officer Dear Friends, It is with great pleasure that I present the financial highlights of our fiscal year ended June 30, 2004. The College continued to benefit from the strong financial resources that have accumulated throughout the years. Careful management of expenditures by College faculty and staff and the continued generous support from Trustees, alumni, and friends allowed Wabash to continue to pursue its mission of teaching and learning in spite of the uncertainty in the financial markets. The College ended the year with a surplus that allowed us to increase the plant reserves more than anticipated. With an addition to the endowment of $1.3 million from gifts, the market value of the pooled endowment ended the fiscal year at approximately $300.0 million, representing a return on investments of 19.4 percent. The Investment Policy Committee of the Board of Trustees continued to maintain a diversified portfolio of investment instruments combined with an asset allocation strategy that allowed the endowment to maintain market value. The endowment per-student continues to top the GLCA schools and continues to place Wabash near the top of private schools in the nation. Total gifts and pledges for the fiscal year were in excess of $19.9 million. Unrestricted gifts to the Annual Fund were in excess of $2.66 million, with more than 35 percent participation from Wabash alumni. Student revenue only covers approximately one-third of total operating costs; the Annual Fund is an important source of revenue to help bridge the gap. The College greatly appreciates the continued support of alumni and friends who make gifts annually. A number of significant construction projects were completed over the course of the year, including the renovation and equipping of Goodrich Hall. A major mechanical upgrade took place in the Fine Arts Center, and the new house for the Sigma Chi fraternity was completed. Plans were completed and bids received for the construction of the new Phi Delt house, and the demolition of the old house began late in July, 2004. This has been another good year for the College as we saw plans come to fruition and began the challenge of meeting a new set of needs for the coming academic year. We thank all of you for your continued support in both time and money and remain committed to being good stewards of the resources that you have entrusted to us. Respectfully, Deanna S. McCormick Chief Financial Officer and Treasurer Honor Roll 2003 • 2004 WABASH COLLEGE FINANCIAL STATEMENT 1 STATEMENT OF FUND BALANCES June 30, 2003 June 30, 2004 Current Funds $ 20,303,762 $ 27,684,981 Loan Funds 776,885 834,767 Endowment Fund 266,568,114 305,277,374 Funds Held By Others 29,682,599 27,539,637 Life Income Funds 3,911,516 5,304,397 Plant Funds 40,744,403 41,221,775 Total Fund Balances $ 361,987,279 $ 407,862,931 SUMMARY OF TOTAL INCOME AND EXPENSES • Fiscal Year 2003-04 Income: Expenditures: Student Revenue Instruction $ 12,648,881 $ 8,674,532 Student Services and Athletics $ 5,089,409 Investment Income $ 15,198,079 Academic Support and Library $ 3,899,891 Physical Plant $ 3,735,992 Transfers $ 3,686,022 Public Service $ 3,357,271 Gifts Research $ 9,827,461 $ 3,101,806 Auxiliary Operations $ 3,095,992 Advancement $ 3,002,531 Other Income Administration $ 2,651,764 $ 2,675,591 Total Income Total Expenditures $ 40,326,185 $ 40,319,037 Operating Surplus $ 7,148 From the Chairman of the Campaign for Leadership Dear Friends, I thought after more than 50 years of close involvement with Wabash College, I knew it quite well. But my involvement with the Campaign for Leadership has shown me how deeply my fellow alumni, your families, and friends care about the place and how remarkably generous you are. You good men and women have put your thought, energy, and money into making Wabash a stronger and better place for young men to learn about the world around them and their places in it. You deserve the heartiest congratulations on your commitment to this effort, and I am happy to give them. All who work at the College join me. Our students certainly do, too. Their learning opportunities have grown because of you.