University of Denver Annual Report 2008-09
University of Denver Annual Report 2008-09
University of Denver Annual Report 2008-09
W e s e e k to b e a m ig h t y
p e r c ol at i n g w i t h i d e a s , p u l s i n g
op t i m i s t ic , com m i t t e d to s t u d e n ts a n d
CONTENTS
LETTER FROM THE CHANCELLOR
YEAR IN REVIEW
10
20
FINANCIAL INFORMATION
34
L e t t e r f r o m t h e c h a n c e l l or
Dear Friends,
e past year was an extraordinary one for all of higher education. e onset of the recession and
the decline of the markets had an impact on all of us, upending both institutional endowments
and family nances. Colleges and universities dependent on endowment earnings suered, as did
tuition-dependent institutions with unstable enrollments. Institutions with heavy burdens of
adjustable rate debt and limited liquidity were perhaps most threatened. We at the University of
Denver were fortunate to be able to face this uncertain time from a position of considerable
strength and exibility, and last year was ultimately a very good one for our university. As is
shown in this annual report, it was a year in which our enrollments held solid and the quality
of our academic enterprise continued to improve, even as income from our endowment and
other investments declined.
While we understand fully that it will take some time for the economy to rebalance itself and that
the associated uncertainty will continue, we look forward to the coming years with great optimism.
We have begun the current year (scal year 2010) very well, indeed. Times of challenge and
change are also times of opportunity, particularly for institutions that are open-minded, agile and
entrepreneurial. ose are certainly the attributes of our university.
Sincerely,
R obeRT D. C oombe
Dear Friends,
every year, the University of Denver has a superb story to tell.
The 2008 2009 academic year was no exception. True, the economy presented its challenges,
but the University responded with resolve, imagination and a renewed commitment to
improve always improve education, research and personal growth opportunities for students.
A review of the past year reveals our preference for action. our students were learning and
serving on six continents. Here at home, they were working on behalf of presidential candidates,
volunteering in the public schools, participating in challenging research projects, pursuing
athletics championships and, inside the classroom and out, confronting the challenges that
face our world. meanwhile, our faculty was creating new knowledge, exploring new ideas
and, of course, mentoring the next generation. Its no wonder we have reason to be optimistic
about the future.
at is the Universitys ongoing story: fast-paced, action-packed, focused on people and centered
around the great issues of the day.
Im condent the next chapters in the University of Denver story will bring even more fascinating
developments. With past as precedent, you can always count on the University to set ambitious
goals and to pursue them with passion.
J oy S. b URnS
Chairman
University of Denver board of Trustees
J U LY
2008
2008
2008
DU welcomes 1,145 rst-year students including 61 international students, the highest in school history representing
44 states and 21 countries. In addition, for the second consecutive
year, DU welcomes a record number of boettcher Scholars.
meanwhile, the graduate and professional programs greet
2,475 new students.
During his annual Convocation address, Chancellor Robert
Coombe calls on the University community to focus on
building quality and strength in the graduate and professional
programs: We have some wonderful, wonderful graduate
programs and great faculty and sta behind them. As a whole,
they are a stable, productive, eclectic mix of academic and
professional programs that are thriving in many ways. e real
question, though, is How can we become substantially better
than we are?
At Convocation ceremonies, the University community
toasts six faculty members and four staff members for
their contributions to the institution. e Universitys highest
5,324
5,691
Certificate programs:
Total fall enrollment:
313
11,328
DEGREES CONFERRED
Baccalaureate:
1,101
Masters:
1,768
First professional:
317
Doctoral:
116
Post-baccalaureate certificates:
114
Post-masters certificates:
3,421
$32,976
4.9%
2008
DECEMBER
2008
2008
J A N U A RY
2009
2009
MARCH
2009
2009
2009
2009
P r o g r a m s f or p e op l e
ACADEMICS AT DU:
for health expenses. Students who receive nancial aid, scholarships and even housing grants may apply those dollars to
their international experience.
I dont know of any other university where students get
these benets, Fairweather said. e University budgets more
than $10 million annually for the study abroad experience.
anks to the program, the culture on campus is changing.
Students who travel abroad understand what its like to be
so far from home, to see things from a different cultural
perspective and even to be part of a minority population,
Fairweather said. It also gives them empathy for the international students on our campus.
eric Gould, vice provost for internationalization, sees
great opportunities ahead for international study. As study
abroad becomes more and more a natural part of gaining a
liberal education at DU, so faculty and academic units want to
integrate it better into the curriculum. Were trying to make
the whole experience more rigorous for students, both
academically and in terms of gaining intercultural experiences, he said. In addition, the program is striving to ensure
12
DU will be a research
university that provides a
truly extraordinary
undergraduate experience.
that students can integrate their study abroad course work into
their majors and minors.
As a result, requirements are changing. Students will
be asked to keep an online portfolio of their academic and
cultural experiences for assessment purposes. They will be
required to take at least one course in the history, society,
economics or culture of the host country, along with at least
one course in their major or minor.
Gould and his oce also are working with the Center for
multicultural excellence to propose a minor in intercultural
studies, which will be developed by faculty in the Arts,
Humanities and Social Sciences, where the minor will be
housed. It will oer credit for in-depth analysis of the region
where a student is studying, for a detailed reflection on an
international service learning project, or for a multicultural
community engagement experience in the United States, such
13
DU will be a university
where e xceptional student
talent blossoms, thrives and
enriches public life.
Partners in Scholarship:
An Investment in Inquiry
RESEARCH AT DU:
16
17
DU will be a university
where research and
scholarship are focused
on the improvement
of individual lives
and the collective good
of the public.
19
Confronting the
G r e at I s s u e s of t h e D ay
INTERNATIONALIZATION EFFORTS:
22
DU will be a great
international university
for Denver and the
Rocky Mountain region.
Exhibition Fosters
Cross-Cultural Dialogue
EDUCATING EDUCATORS:
27
28
DU will be a university
where ethics, values
INCLUSIVE EXCELLENCE:
31
DU will be a university
where diversity, inclusion
and e xcellence mold leaders
for a changing America.
32
33
F i n a n c i a l I n f or m at i o n
RECRUITING UNDERGRADUATE
STUDENTS:
compared to 8,394 the previous year and 6,365 two years ago.
at represented a 30 percent increase in applications from
the year before and a 71 percent increase from two years ago.
Just as important, the University recorded an increase for
all the cohorts it monitors closely. multicultural applications
rose by 108 percent, international applications were up 99
percent, and out-of-state applications increased 31 percent
from 2008 to 2009.
e success of this strategy was apparent as early as the
november 2008 deadline for early Action applications. both
the quantity and quality of the early Action applicant pool
were stronger this year, making admission to DU more competitive once again, Willoughby said. In fact, the admission
sta reviewed 3,370 early action applications, compared to
1,965 the previous year, a 72 percent increase. of the 3,370
applicants, 2,353 were accepted, for an admit rate of 70 percent,
and 603 applicants were deferred to the Regular Decision
applicant pool. In addition, the academic prole of the admitted
pool was stronger than in the previous year, with slight
increases in the average GPA and in ACT and SAT scores.
by the may 1 deposit deadline, the oce of Admission
had received more than 1,300 deposits. In early August,
Willoughby was expecting 1,230 students to enroll in fall 2009,
almost 100 more students than the budgeted goal of 1,145.
Willoughby attributes the Universitys success to the
strategies implemented early in the recruitment cycle and to
the institutions credibility among prospective students and
their parents. DU continues to be an attractive option for
students on its own merits and rising reputation, he said.
2005
5,199
2006
1,142
1,140
4,600
10,881
1,097
3,752
8,394
Enrolled
3,403
6,365
2008
3,312
5,820
2007
58.9%
1,145
54.8%
1,210
54.5%
Offers of admission
Selectivity ratio
63.7%
Matriculation ratio
33.1%
58.5%
33.6%
30.4%
24.9%
2009
5,935
20.4%
Number
Mean
25th Percentile
75th Percentile
SAT
Number
Mean
25th Percentile
75th Percentile
FALL 06
FALL 07
FALL 08
FALL 09
1,008
1,104
1,097
1,093
1,095
3.28
3.32
3.34
3.44
3.50
685
700
3.57
3.58
3.59
3.96
3.95
3.96
766
735
729
1165
1070
1250
1180
3.66
4.00
1176
1191
4.00
1191
1090
1080
1260
1280
1280
1270
1110
3.68
1120
Top Tenth
35.9%
35.2%
34.8%
42.2%
45.0%
Top Half
90.0%
92.4%
94.9%
96.2%
95.7%
Top Quarter
68.7%
66.8%
65.7%
75.7%
75.4%
35
FUNDRAISING:
Moderate Progress Marks Economically
Challenging Year
37
FINANCIAL SUMMARY
ousands of Dollars
2005
2006
2007
2008
2009
$172,406
$191,689
$211,281
$227,575
$238,792
7,541
7,971
11,350
10,251
10,036
Unendowed gis
13,875
10,475
11,327
14,313
11,616
24,150
23,653
21,686
22,066
24,541
Auxiliary enterprises
36,136
37,639
40,423
41,176
42,228
other revenue
Total revenues
16,842
20,066
26,016
26,099
13,909
270,950
291,493
322,082
341,480
341,122
eXPenSeS
Instruction
88,677
96,078
104,727
117,558
124,776
Research
15,453
13,909
13,094
13,044
14,673
4,037
3,977
3,091
3,044
3,379
38,370
43,577
46,268
49,104
50,551
Public service
Academic support
Student services
13,023
14,469
15,697
15,638
16,676
Institutional support
31,686
33,859
38,219
38,678
38,809
Auxiliary enterprises
41,873
44,143
48,120
52,379
53,730
17,320
14,208
13,121
18,125
15,230
250,439
264,220
282,337
307,570
317,824
20,511
27,273
39,746
33,910
23,298
10,347
17,098
27,996
(6,700)
(48,827)
Total expenses
Net Operating Results
Nonoperating Activities
Undistributed investment gains/(losses)
endowed gis
21,647
14,040
23,654
28,608
2,144
(1,456)
(6,582)
9,033
10,229
(3,566)
30,538
24,556
60,683
32,137
(50,249)
51,049
51,829
100,429
66,047
(26,951)
38
555,399
606,448
658,277
758,706
824,753
$606,448
$658,277
$758,706
$824,753
$797,802
ENDOWMENT FUND
GAIN ON INVESTMENTS
ENDOWMENT FUND
RESTRICTED GIFTS
ENDOWMENT FUND
MARKET VALUE
MILLIONS OF DOLLARS
MILLIONS OF DOLLARS
MILLIONS OF DOLLARS
30
40
350
30
300
25
20
250
20
10
200
0
15
-10
150
10
-20
100
-30
5
50
-40
0
-50
05
06
07
08 6/30/09
0
05
06
07
08 6/30/09
05
06
07
08 6/30/09
11.5%
14.3%
3.7%
5.7%
19.8%
16.6%
9.8%
18.6%
39
REVENUES
EXPENSES
NONOPERATING ACTIVITIES
MILLIONS OF DOLLARS
MILLIONS OF DOLLARS
MILLIONS OF DOLLARS
350
60
350
50
300
300
40
30
250
250
20
200
10
200
150
150
-10
-20
100
100
-30
-40
50
50
-50
40
-60
0
05
06
07
08
09
05
06
07
08
09
05
06
07
08
09
BOARD OF TRUSTEES
Joy bURnS, Chairman
President
D. C. burns Realty & Trust Co.
Denver
PATRICK boWLen
President and CEO
Denver broncos Football Club
Denver
eDWARD eSTLoW, bA 42
Former President
Scripps-Howard
Denver
mARGoT GILbeRT FRAnK, bA 71
Trustee
Lewis D. and John J. Gilbert Foundation
Denver
KeVIn GALLAGHeR, mbA 03
President and CEO
Gallagher Industries, LP
Denver
PeTeR GILbeRTSon, bA 75
Chairman, President and CEO
Anacostia & Pacic Company Inc.
Chicago
nATHAnIeL GoLDSTon III, bSbA 62
Chairman and CEO
Gourmet Services Inc.
Atlanta
Leo GoTo, bSbA 67, mbA 74
Owner
e Wellshire Inn
Denver
mARA GUAJARDo, mA 85, PHD 88
Executive Director
mayors oce for education & Children
Denver
PATRICK HAmILL, bSbA 81
President and Owner
oakwood Homes LLC
Denver
JAne HAmILTon
Frederic C. Hamilton Family Foundation
Denver
RICHARD KeLLey
Chairman of the Board
outrigger enterprises
Denver
PATRICIA LIVInGSTon
President
Construction Technology Inc.
Denver
JoHn LoW, JD 51
Member/Attorney
Sherman and Howard
Denver
TRyGVe myHRen
President
myhren media Inc.
Denver
RALPH nAGeL
President
Top Rock Inc.
Denver
RobeRT neWmAn
Owner
Greenwood Gulch Ventures
Denver
SCoTT ReImAn, bSbA 87
President
Hexagon Investments
Denver
RICHARD SAPKIn, bSbA 83
Managing Principal
edgemark Development LLC
Denver
DoUGLAS SCRIVneR, JD 77
General Counsel and Secretary
Accenture
San Jose
CATHeRIne SHoPneCK, bFA 76, mbA 79
Principal
South Woods Financial LLC
Denver
JoHn SIe
Founder, Former President and CEO
Starz entertainment LLC
Denver
DonALD STURm, LLb 58
Chief Executive Ocer
e Sturm Group
Denver
oTTo TSCHUDI, bSbA 75
Partner
omas Weisel Partners
San Francisco
CLARA VILLARoSA
Founder and Former Owner
e Hue-man experience
new york
FReDeRICK WALDeCK, bSbA 71
Managing Director
Tishman Speyer
new york
HONORARY
LIFE TRUSTEES
WILLIAm CooRS
WILLIAm KURTz
DAnIeL RITCHIe
Chancellor Emeritus
J. WILLIAm SoRenSen
CARRIe moRGRIDGe
Vice President
morgridge Family Foundation
Denver
RobeRT Coombe
Chancellor
GReGG KVISTAD
Provost
PeG bRADLey-DoPPeS
Vice Chancellor for Athletics,
Recreation & Ritchie Center Operations
CARoL FARnSWoRTH
Vice Chancellor for University
Communications
eD HARRIS
Vice Chancellor for University Advancement
KenneTH STAFFoRD
Vice Chancellor for University Technology
THomAS WILLoUGHby
Vice Chancellor for Enrollment
CRAIG WooDy
Vice Chancellor for Business
and Financial Aairs, Treasurer
eRIC GoULD
Vice Provost for Internationalization
nAnCy ALLen
Dean, Penrose Library
GReGoRy AnDeRSon
Dean, Morgridge College of Education
PeTeR bUIRSKI
Dean, Graduate School of
Professional Psychology
JAmeS DAVIS
Dean, University College
Tom FAReR
Dean, Josef Korbel School
of International Studies
Lynn GAnGone
Dean, e Womens College
mARTIn KATz
Interim Dean, Sturm College of Law
Anne mcCALL
Dean, Divisions of Arts, Humanities
and Social Sciences
L. ALAyne PARSon
Dean, Division of Natural Sciences
and Mathematics
eDWARD LeHmAn
JoHn mILLeR, bSbA 75, mbA 76
President and CEO
north American Corporation
Chicago
ADMINISTRATION
RobeRT TImoTHy
CARL WILLIAmS
CHRISTIne RIoRDAn
Dean, Daniels College of Business
RAHmAT SHoUReSHI
Dean, School of Engineering
and Computer Science
JAmeS HeRbeRT WILLIAmS
Dean, Graduate School of Social Work
DENVER, CO 80208-4800
The University of Denver (Colorado Seminary) admits students of any race, color, national and ethnic origin to all the rights, privileges,
programs and activities generally accorded or made available to its students. It does not discriminate on the basis of race, color, national
and ethnic origin in administration of its educational policies, admissions policies, scholarship and loan programs, and athletic and other
school-administered programs.