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Financial Vitality

• Relevant Initiatives from the current plan
• Strengths and Challenges
• Key Performance Indicators
• Current College Activities
• Best Practices
• What if...Where might Mount Mary be in 2020?
• Download complete PDF for Financial Vitality

Goal 1: Cultivate financial resources that will allow the College to fulfill its mission

• Increase annual giving through increased alumnae/donor events and new communication tools.
• Increase amount of grants each year.
• Conduct feasibility study and develop focused strategy for the next Comprehensive Campaign.
• Increase endowment each year.
• Increase marketing of Planned Giving options, introduce gift-giving levels and introduce giving clubs.
• Increase prospects/donor base; increase President’s Circle of Donors.
• Increase Alumnae Scholarship endowment.

Goal 2: Refine and implement an integrated enrollment management system

• Increase accelerated program new students to 50 each year by Fall 2011.
• Update the annual Recruitment Plan with initiative and annual goals for targeted groups based on institutional priorities.

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Strengths

• Excellent revenue to expense ratio
• Reserves on hand for three months of operations
• Record enrollment for two years
• Accelerated academic growth in several programs

Challenges

• Volatile economic environment
• Changing enrollment demographics
• Rising operational expenses
• Restricted tuition increases
• Insufficient reserves
• Substantial deferred maintenance and technology requirements
• Heavy tuition dependency
• Did not maintain momentum from the last fund raising campaign

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• Sustained financial self-reliance for two years
• Operated “in the black” for two years
• Re-negotiated revenue bond to reduce expenses
• Established new investment program to increase return while controlling risk
• Restructured treasury management to increase returns
• Efforts underway to lay the groundwork for our next comprehensive campaign

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The August 11, 2010 edition of The Chronicle of Higher Education, reported on the financial stability of nonprofit colleges. “150 Nonprofit Colleges Fail Education Department’s Test of Financial Strength” described the U.S. Department of Education’s “financial stability test” that was applied to institutions across the country. Mount Mary earned a very high score of 2.8 (scores ranged from -1.0 to +3.0). Only two private four-year colleges in Wisconsin had a score equal to or greater than Mount Mary College.

According to the report, “A score greater than or equal to 1.5 indicates the institution is financially responsible.” Mount Mary’s composite score confirms the efficacy of the past year’s financial approach and practices. The effect of those measures is seen not only in the College’s own KPI but also in external recognition of the College’s fiscal soundness as is evident in our access to federal grants (such as the recent TRIO award) and in the Business Journal forthcoming award to the College’s CFO.

Read the article and the report findings.

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Things to include in our vision might be:

• We are financially viable and have sufficient financial resources to grow, innovate, and experiment in the fulfillment of our mission.
• We are debt-free and do not rely on external support to meet daily operating financial obligations; we are a college with revenue streams that are sufficient, sustainable, and well diversified that adequately fund current and future needs.
• We have sufficient financial reserves to meet unforeseen circumstances, have an annual operating surplus, and are able to fund teaching, learning and inquisitive endeavors.
• We are efficient and effective in the use of our resources, focused on excellence and continuous improvement, and with facilities, services and technology to fulfill all of our teaching, learning and working needs.
• We can attract and compensate community members properly.
• Other?

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