year in review


operating income 5% 2%1%


10% 11%


tuition housing contributed income fees continuing ed other income


71%


Montserrat completed a very solid fiscal year with the operating budget totaling just under $9 million and revenue growth in tuition, housing, and annual fundraising. Pledges and pledge payments to the Catalyst Campaign helped reduce the outstanding obligation on the Student Village residence hall.


As we look forward we are strongly positioned to build on this success in revenue producing areas and to refinance outstanding debt - bringing further stability and opportunity for investment in current and new programs.


Operating Income Montserrat’s operating budget remains heavily reliant on student-related income - it comprises over 86% of all revenues received by the college. As a result, the college remains dependent on achieving its enrollment and retention goals. For the second year in a row, Montserrat’s incoming class and returning student results have exceeded budget goals - helping to solidify the gains made in the recent past.


operating expense 2%


5% 7% 9% 3% 24% financial aid 14% 20% 16%


education & instruction student services institutional operating expense plant maintenance academic services housing development continuing ed


As the total number of supporters continues to increase, the annual fund (unrestricted gifts and proceeds from Artrageous) has continued to grow despite the difficult economic climate; reaching a combined level of over $600,000. Investments made to enable future growth in fundraising, as well as expansion of the pre-college and continuing education programs, should continue to improve these results.


Operating Expense Personnel and financial aid remain Montserrat’s significant expenses. Costs were well-managed but Montserrat’s very personalized and student-centric education is labor intensive, relying on small classes with maximum faculty and student interaction and attention.


Financial aid is a growing expense but an essential component of enabling many students to benefit from the Montserrat experience. Last year the college awarded nearly $2.9 million, 32% of the operating budget, in direct student aid and discounts. These monies are a strategic investment in the recruiting process but they are also an important way to help minimize the debt that students must incur to obtain their education. Montserrat is working toward future scholarship building initiatives to help fund this aid in order to free up these funds for enhanced operations and other purposes. l


32 montserrat portfolio


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