From the President Dear Loyolans,
This holiday season, Loyola has much to be thankful for and good news to report. The University continues to enjoy healthy enrollments. As undergraduate enrollment has reached capacity at 9,747 students, we continue to focus on improving the academic quality and diversity of our incoming classes. Graduate
student enrollment is up an impressive 8 percent and we have set another record this year with total enrollment reaching nearly 16,000 students. One-third of our undergraduates are the first in their families to attend college.
tuition affordable and our programs accessible. We are particularly aware of this in a difficult economy. In fiscal year 2010, the University awarded $113 million in scholarships and grants. Approximately 93 percent of this aid was funded internally by the University, with the other 7 percent coming from gifts, grants, and endowments. Ninety-two percent of our undergraduate students are receiving some type of financial aid this year. Eighteen months ago, the University introduced the Loyola Guarantee, an additional financial aid program that assists families experiencing a significant income loss by promising every student the opportunity to complete a Loyola degree. Loyola was able to help 642 students continue their studies by contributing $1.1 million in financial support to the program in the 2010 fiscal year. The best way to ensure our ability to provide all students with an excellent, affordable education is to grow our endowment resources with the help of philanthropic support.
W
original $500 million goal. This remarkable achievement is due to our many generous donors, notably the unprecedented $50 million gift this past year from the Cuneo Foundation, the family foundation of John and Herta
I
n early September, Partner: The Campaign for the Future of Loyola surpassed its
hile enrollment remains strong, the challenge continues to be keeping
Cuneo, and a gift from the Philip H. Corboy Foundation to name the Philip H. Corboy Law Center. We are forever grateful to all our supporters for their loyalty and support. As we carry Partner’s momentum through to the campaign’s end in 2013, we are focusing our efforts on five critical areas of need. Our top priority is to increase scholarship support across all our campuses. We also are raising funds for the John Felice Rome Center with the Insieme per il futuro, or “Together for the future,” campaign to improve its facilities and increase its endowment and scholarship support. The School of Business Administration and the Marcella Niehoff School of Nursing are both raising funds for new facilities. And the multi-phase reimagine campaign to improve student life on the Lake Shore Campus is off to a great start with a lead gift last spring from Allan (BS ’60) and Alfie Norville that named the Norville Center for Intercollegiate Athletics. In fiscal year 2010, contributions and foundation grants to Loyola University Chicago and Loyola University Health System totaled $166 million, our highest year ever. We are grateful that Loyola’s alumni, friends, and benefactors have continued to support the University with unprecedented generosity.
University to make the capital purchases D 1 LOYOLA UNIVERSITY CHICAGO
onor gifts and strong financial management have allowed the
and improvements necessary to revitalize our campuses and plan for our future. The University had capital expenditures of $108 million in fiscal year 2010, including the purchase of the John Felice Rome Center property for $31 million, which will allow the University to make necessary renovations and improvements to the center and enhance our long-standing presence in Rome. The University also acquired the Resurrection Retreat Center in Woodstock, Illinois, for $6 million. The new Loyola University Chicago Retreat and Ecology Campus features 100 rooms that can accommodate up to 200 guests, a chapel, a full-service dining area, meeting rooms, and 97 acres of wetlands, woodland, and prairie. The campus will be used for student, faculty, and staff retreats and for academic offerings in ecology, environmental sciences, and biology field research. The property will also be available for outside groups to rent from the University. An ethic of living in harmony with nature will be developed on the campus, which will include producing much of our own clean energy and teaching our students to grow food and minimize waste. Other University- wide key capital improvements this year included the creation of new classrooms and retail space on Chicago Avenue, construction on the Norville Center for Intercollegiate Athletics, the Coffey Hall conversion to faculty offices, and the continued renovation of the Mundelein Center. The vast majority of these capital projects were funded internally; the only external borrowing was $14 million related to the Rome Center property purchase.
fiscal year 2010, the University continued its recent trend of consistently favorable operating performance and generated an operating surplus of $64 million. This was driven primarily by higher revenues from enrollment growth and conservative fiscal
T
he financial outlook for the University remains strong and healthy. During
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