Messiah College President's Report 2007

STATEMENT OF ACTIVITIES REVENUES Student tuition and fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less, ﬁnancial aid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net tuition and fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Governmental grants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operational gifts and grants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Endowment returns designated for operations . . . . . . . . . . . . . . . . . . . . . . Auxiliary services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total operating revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Fiscal Year 2007 ($ thousands) $ 66,165 (20,331) 45,834 1,790 2,022 5,585 18,053 4,778 $ 78,062 Fiscal Year 2006 ($ thousands) $ 64,171 (18,964) 45,207 1,733 2,342 5,124 17,227 4,312 $ 75,945 REVENUES: FISCAL YEAR 2006–2007 59% Net tuition and fees 6% Other EXPENSES Instructional . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Academic support . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Public service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Student services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Auxiliary services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . General institutional support . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total operating expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Fiscal Year 2007 ($ thousands) $ 28,005 8,645 1,274 12,641 15,497 10,885 $ 76,947 $ 1,116 Fiscal Year 2006 ($ thousands) $ 26,496 8,484 1,225 12,076 15,375 10,704 $ 74,359 $ 1,586 23% Auxiliary services 2% Governmental grants 7% 3% Endowment returns Operational designated gifts and for operations grants My fellow trustees and I extend to you — our broad community of alumni, parents, and friends — a hearty thank you for the unfailing support you continue to provide to Messiah College. The College has been blessed over the past year and your partnership has been integral to our success. Please be assured that the trustees carefully guard the mission and vision of Messiah College. We strive — through strategic planning — to provide the vital ingredients necessary to ensure an education of distinction. The trustees share a great confidence in President Kim Phipps and her administrative team as they carry out — by design — the vision of a rigorous, faith-infused education of distinction. In this report, you’ve read about the many inspiring outcomes of such an education — the myriad ways our students, faculty, administrators, and staff have pursued excellence and their many outstanding accomplishments during the 2006–2007 academic year. We anticipate exciting challenges as we continue to pursue great things for this wonderful institution — Messiah College. Your sustained prayers and financial support are vital to our journey. Again, thank you! — Eunice Steinbrecher ’58 is the chair of the Board of Trustees. EXPENDITURES: FISCAL YEAR 2006–2007 14% General institutional support 37% Instructional NONOPERATING REVENUES, EXPENSES, AND OTHER CHANGES Private gifts and grants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Endowment and life income gifts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Endowment investment returns, net of amount designated for operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . Investment returns and net actuarial change in split-interest agreements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Loss on disposal of ﬁxed assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total nonoperating revenues, expenses, and other changes . . . . . . . . . . Cumulative effect of change in accounting principle . . . . . . . . . . . . . . . . Total changes in net assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net assets, beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net assets, end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Fiscal Year 2007 Fiscal Year 2006 ($ thousands) ($ thousands) $ 1,361 2,529 12,361 1,792 (118) $ 17,925 — $ 19,041 192,291 211,332 $ 4,157 1,789 7,832 91 — $ 13,869 (1,614) $ 13,842 178,449 192,291 16% Student services 20% Auxiliary services 11% Academic support 2% Public service SUMMARY STATEMENT OF ENDOWMENT FUNDS Donor endowment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Board-designated endowment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total endowed funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Endowment total return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Fiscal Year 2007 Fiscal Year 2006 ($ thousands) ($ thousands) $ 22,675 104,500 127,175 16.40% $ 19,841 93,882 113,723 12.70% Fiscal year 2007 audit in process. The complete audited ﬁnancial statements will be available for review on Messiah College’s website at www.messiah.edu/ofﬁces/business on November 15, 2007. Variances in addition are due to rounding. 24 http://www.messiah.edu/offices/president/ www.messiah.edu/offices/business http://www.messiah.edu/offices/president/trustees.html

Table of Contents Feed for the Digital Edition of Messiah College President's Report 2007

Contents An Education of Distinction A Rigourous Education of Distinction Articles A Visionary Education of Distinction Articles A Faith-Infused Education of Distinction Articles Sustaining an Education of Distinction Financial Reports/Volunteer Leader Appreciation Donor Recognition Messiah College at a Glance Meet Our Students A Mission of Distinction A Year in Photos

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