Financial Data Fact Book. Office of Institutional Research and Planning

Transcription

1 Financial Data Fact Book Office of Institutional Research and Planning

2 Unrestricted Statements of Activities For The Fiscal Years Ended June 30, 2013 to 2017 (in thousands) OPERATING REVENUES: Gross tuition and fee revenue $277,341 $292,799 $301,162 $305,924 $316,834 Less financial aid 85,920 94,401 98, , ,424 Net tuition and fee revenue 191, , , , ,410 Auxiliary enterprises 1 43,988 46,045 46,484 45,021 42,263 Grants and contracts 3,569 3,413 3,326 3,385 3,264 Gifts and pledges , Endowment earnings distributed for operations 2,712 2,919 3,389 3,605 5,225 Working capital earnings distributed for operations 1,411 1,593 1,757 1,870 Income (loss) on operating investments 3,711 Investment income Other 7,885 6,962 6,696 6,503 5,383 Net assets released from restrictions 2 16,602 17,581 16,582 20,777 20,135 Total operating revenues $270,118 $277,718 $281,823 $283,988 $286,111 OPERATING EXPENSES: Instructional $109,178 $111,992 $117,874 $116,599 $118,428 Institutional support 40,194 41,343 44,884 44,641 48,377 Auxiliary enterprises 1 36,098 36,445 36,906 39,033 39,415 Academic support 41,488 41,639 40,121 39,278 40,619 Student services 13,756 14,807 15,319 16,551 16,786 Public service 9,056 8,071 7,654 7,619 5,956 Research 7,110 7,586 8,082 9,212 8,834 Total operating expenses $256,880 $261,883 $270,840 $272,933 $278,415 EXCESS OF OPERATING REVENUES OVER EXPENSES $13,238 $15,835 $10,983 $11,055 $7,696 Operating Margin 4.9% 5.7% 3.9% 3.9% 2.7% NONOPERATING REVENUES AND EXPENSES: Gifts and pledges $332 $946 $82 $489 $64 Return (loss) on investments 10,484 22,225 (1,057) (6,221) 18,413 Endowment earnings distributed for operations (2,712) (2,919) (3,389) (3,605) (5,225) Working capital earnings distributed for operations (1,411) (1,593) (1,757) (1,870) Costs associated with separation agreements (5,461) 3,292 (1,062) Loss on defeasance of debt (2,412) (10,190) Net assets released from restrictions 210 Other (19) Net non-operating revenues and expenses 8,104 18,841 (13,830) (24,385) 10,320 CHANGE IN NET ASSETS 21,342 34,676 (2,847) (13,330) 18,016 Unrestricted NET ASSETS - Beginning of year $226,560 $247,902 $282,578 $279,731 $266,401 Unrestricted NET ASSETS - End of Year $247,902 $282,578 $279,731 $266,401 $284,417 1 Primarily room, board, and parking. 2 Primarily donor restricted gifts, sponsored research, and donor restricted endowments distributed for operations. Source: Independent Auditors' Reports, Years Ended June 30, 2013 to 2017

3 Unrestricted Operating Revenues and Expenses Fiscal Year Ended June 30, 2017 (in thousands) Tuition and fees $207, % Auxiliary enterprises $42, % Net assets released $20, % Other Endowment earnings Grants and contracts Working cap. earnings Investment income Gifts and pledges $5, % $5, % $3, % $1, % $ % $ % $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000 $200,000 $220,000 Unrestricted Operating Revenues $286,111 Instructional $118, % Institutional support $48, % Academic support $40, % Auxiliary enterprises $39, % Student services $16, % Research $8, % Public service $5, % $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 Unrestricted Operating Expenses $278,415 Source: Independent Auditors' Report, Year Ended June 30, 2017

4 Financial Summary Statement Fiscal Years 2013 to 2017 $290,000 $285,000 $280,000 Unrestricted Operating Revenue and Expense Fiscal Years Ended June 30 (in thousands) $286 $278 $275,000 $270,000 $270 $265,000 $260,000 $255,000 $257 $250,000 $245,000 $240, Operating Revenue Operating Expense $800,000 Summary of Financial Position Fiscal Years Ended June 30 (in thousands) $700,000 $600,000 $650 $683 $500,000 $454 $400,000 $378 $300,000 $200,000 $272 $229 $100,000 $ Assets Liabilities Total Net Assets Note: Financial Statements have been restated since the the Fact Book. Source: Independent Auditors' Reports

5 Endowment Statistics Fiscal Years 2013 to Market Value 1, 2 (in thousands) $203,869 $260,632 $256,416 $243,334 $268,533 Endowment/FTE Student $22,347 $28,419 $28,107 $27,341 $30,111 Endowment Spending Rate 5.0% 5.0% 5.0% 5.0% 5.0% Endowment Income Distributed (in thousands) $6,894 $7,354 $8,223 $9,255 $11,238 Endowment (1 year) Rate of Return 13.0% 16.9% -0.4% -3.9% 12.6% Endowment Market Value (in thousands) $300,000 $250,000 $260,632 $256,416 $243,334 $268,533 $200,000 $203,869 $150,000 $100,000 $50,000 $ Fiscal Year 1 Composite with True Endowment and Quasi Endowment 2 Excludes Pledges Sources: NACUBO Endowment Study; FEG Endowment Reports; Census Reports; Independent Auditors' Reports

6 Endowment and Other Long-Term Investments Comparison per FTE Nationally Ranked Catholic Universities 1 Fiscal Year Ending June 30, 2016 Carnegie Classification 2 Endowment and Other Long-Term Investments (in thousands) No. Full Time Equivalent (FTE) 3 Endowment and Other Long-Term Investments per FTE University of Notre Dame R1 $8,374,083 12,187 $687,132 Boston College R1 $2,064,300 13,563 $152,201 Georgetown University R1 $1,483,502 16,155 $91,829 Saint Louis University R2 $1,053,035 13,331 $78,991 Villanova University R3 $551,036 8,845 $62,299 University of San Diego R3 $449,795 7,470 $60,214 Catholic University of America R2 $314,956 5,271 $59,753 University of St. Thomas R3 $429,199 8,234 $52,125 Marquette University R2 $550,106 10,638 $51,711 Fordham University R2 $614,871 13,535 $45,428 University of Dayton R2 $473,122 10,496 $45,076 St. John's University R3 $643,376 16,500 $38,992 Loyola University of Chicago R2 $535,117 14,780 $36,205 R2 $280,034 8,896 $31,479 Seton Hall University R3 $242,675 8,188 $29,638 University of San Francisco R3 $300,350 10,162 $29,556 DePaul University R3 $420,056 20,616 $20,375 Average of Group $1,104,683 11,698 $92,530 Duquesne's Difference from Group ($824,649) (2,802) ($61,051) 1 US News and World Report's Nationally Ranked Catholic Universities. 2 Carnegie Classification (Basic) Categories: R1: Doctoral Universities - Highest research activity R2: Doctoral Universities - Higher research activity R3: Doctoral Universities - Moderate research activity 3 Fall 2015 Full Time Equivalent (FTE) Sources: 2016 NACUBO Endowment Study; The Carnegie Foundation for the Advancement of Teaching; US Department of Education, National Center for Education Statistics, IPEDS

7 Tuition, Fees, Room and Board Rate Schedule Fiscal Years 2017 and 2018 FY 2017 FY 2018 Description/Comments Academic Year (Full-time Students) Undergraduate Tuition $35,062 $36,394 Liberal Arts, Education, Business, Nursing, Nat. & Environ. Sciences, UG Double Occupancy Room & Board $11,760 $12,114 Spiritan Division, Health Sciences (SS), Pharmacy (SS), HMS, & Biomedical Engineering Total $46,822 $48,508 Undergraduate Tuition $40,408 $41,944 Health Sciences, Pre-Professional Pharmacy (years 1-2) UG Double Occupancy Room & Board $11,760 $12,114 Healthcare Supply Chain Management (Pharmacy) Total $52,168 $54,058 Undergraduate Tuition $42,782 $44,408 Music UG Double Occupancy Room & Board $11,760 $12,114 Total $54,542 $56,522 Undergraduate Tuition Undergraduate Tuition per Credit $276 $286 High School Students Studying at Duquesne (ACHI) Undergraduate Tuition per Credit $846 $878 Center for Adult Learners and Military Programs, RN to BSN Undergraduate Tuition per Credit $1,162 $1,206 Liberal Arts, Education, Spiritan Division, Business, Natural & Environmental Sciences, Nursing, & Biomedical Engineering Undergraduate Tuition per Credit $1,241 $1,288 Pre-Pharmacy, Health Science, Healthcare Supply Chain Pharmacy Undergraduate Tuition per Credit $1,387 $1,440 Doctor of Pharmacy - Traditional Day Pathway (Years 3-6) Undergraduate Tuition per Credit $1,367 $1,419 Music Tuition per Course $276 $286 Duquesne in High School Program (3 credit course) Tuition per Course $366 $380 Duquesne in High School Program (4 credit course) Tuition per Course $459 $476 Duquesne in High School Program (5 credit course) Tuition per Half Course $550 $571 ESL Tuition per Evening Course $722 $749 ESL Tuition per Course $1,027 $1,066 ESL Tuition per Course $760 $789 Paralegal Undergraduate Tuition per Semester $16,175 $16,790 Nursing 2nd Degree Undergraduate Tuition per Semester $8,630 $8,958 Nursing 2nd Degree (2-Year Pathway) Undergraduate Tuition per Credit $929 $964 Nursing 2nd Degree Graduate Tuition Graduate Tuition per Credit $482 $500 MA in Religious Education Graduate Tuition per Credit $909 $944 Nursing Discount Graduate Tuition per Credit $952 $988 MS in Leadership (includes Military) Graduate Tuition per Credit $850 $882 Summer Law Graduate Tuition per Credit $900 $934 MS in Management & Sports Business Graduate Tuition per Credit $923 $958 MA in Communication Graduate Tuition per Credit $1,234 $1,259 Liberal Arts, Education, Business, HMS, Post Bacc PMHPP Graduate Tuition per Credit $1,264 $1,312 Natural & Environmental Sciences, & Nursing Graduate Tuition per Credit $1,302 $1,351 Health Sciences (PT, PA, OT, SLP) Graduate Tuition per Credit $1,455 $1,440 Doctor of Pharmacy- Weekend Pathway Graduate Tuition per Credit $1,469 $1,525 Music Graduate Tuition per Credit $1,486 $1,542 Pharmaceutical Sciences Graduate Tuition per Credit $1,404 $1,457 Health Care Ethics Certificate Graduate Tuition per Credit $1,478 $1,534 Law Graduate Tuition per Semester $15,538 $16,128 Law PT Day and Evening Graduate Tuition per Semester $18,277 $16,863 Sustainable MBA Graduate Tuition per Semester $20,219 $20,987 Law Day Graduate Tuition per Semester $11,675 $12,119 LLM Graduate Tuition per Semester $11,600 $11,600 Health Sciences Claim Fees Fee per Credit $108 $112 Tuition Remission/Exchange Administrative Fee Fee per Semester $419 $435 Law Fee per Semester $200 $208 Pharmacy Student Activity Fee- Professional Phase only Fee per Semester $637 $661 Continuous Registration: Master's-Thesis & Doctoral Students Fee per Semester $1,378 $1,430 Tuition Remission/Exchange Administrative Fee Full-Time Undergraduate, Sustainable MBA, Nursing 2nd Degree Students Fee per Student $219 $227 New Student Fee

8 Tuition, Fees, Room and Board Rate Schedule Fiscal Years 2016 and 2017 (cont.) Living Learning Centers FY 2017 FY 2018 Description/Comments Assumption, St. Ann, St. Martin & Towers Per Semester - Undergrad/Grad - Modified Triple Room $2,137 $2,219 Total Room & Board $4,811 $4,947 Per Semester - Undergrad/Grad - Triple Room $2,573 $2,672 Total Room & Board $5,247 $5,400 Per Semester - Undergrad/Grad - Double Room $3,206 $3,329 Total Room & Board $5,880 $6,057 Per Semester - Undergrad/Grad - Single Room $4,760 $4,943 Total Room & Board $7,434 $7,671 Meal Plan Options The semester Board rate of $2,728 reflects the pricing of the following meal plans: 275-meal plan with a $100 declining balance 225-meal plan with a $175 declining balance 200-meal plan with a $275 declining balance 175-meal plan with a $300 declining balance An alernative semester Board Rate of $2,957 reflects the pricing of the following meal plan: 175-meal plan with a $600 declining balance Per Semester - Vickroy - Triple Room $2,712 $2,816 Total Room & Board $5,386 $5,544 Per Semester - Vickroy - Double Room $3,365 $3,494 Total Room & Board $6,039 $6,222 Per Semester - Vickroy - Single Room $4,992 $5,184 Total Room & Board $7,666 $7,912 Meal Plan Options The semester Board rate of $2,728 reflects the pricing of the following meal plans: 275-meal plan with a $100 declining balance 225-meal plan with a $175 declining balance 200-meal plan with a $275 declining balance 175-meal plan with a $300 declining balance An alernative semester Board Rate of $2,957 reflects the pricing of the following meal plan: 175-meal plan with a $600 declining balance Per Semester Des Places - Three Bedroom Suite with 3 students per Bedroom Room $2,712 $2,816 Total Room & Board $5,386 $5,544 Per Semester Des Places - Three Bedroom Suite with 2 students per Bedroom Room $3,275 $3,401 Total Room & Board $5,949 $6,129 Per Semester Des Places - Two Bedroom Suite with 3 students per Bedroom Room $2,981 $3,095 Total Room & Board $5,655 $5,823 Per Semester Des Places - Two Bedroom Suite with 2 students per Bedroom Room $3,592 $3,730 Total Room & Board $6,266 $6,458 Meal Plan Options The semester Board rate of $2,728 reflects the pricing of the following meal plans: 275-meal plan with a $100 declining balance 225-meal plan with a $175 declining balance 200-meal plan with a $275 declining balance 175-meal plan with a $300 declining balance An alernative semester Board Rate of $2,957 reflects the pricing of the following meal plan: 175-meal plan with a $600 declining balance Per Semester Des Places - One Bedroom Suite with 3 students Room $3,268 $3,393 Total Room & Board $5,942 $6,121 Per Semester Des Places - One Bedroom Suite with 2 students Room $3,937 $4,088 Total Room & Board $6,611 $6,816

9 Tuition, Fees, Room and Board Rate Schedule Fiscal Years 2017 and 2018 (cont.) Brottier Hall 12-Month Leases Brottier Hall Studio Furnished 1 Bedroom Furnished 2 Bedrooms Furnished Academic Summer Approved Academic Year Semester 2017 Year $12,840 $2,530 $15,370 $1,330 $16,010 $3,220 $19,230 $16,630 $22,350 $4,480 $26,830 $23,210 Summer Semester Approved 2018 $2,630 $15,960 $3,340 $19,970 $4,650 $27,860 Tuition Increase Schedule Fiscal Years 2014 to % 4.00% 3.50% 3.80% 3.80% Key Competition Benchmark % 4.22% 3.34% 3.61% 3.45% National Catholic Benchmark % 3.76% 3.50% 3.71% 3.46% Regional Catholic Benchmark % 3.28% 2.96% 2.73% 3.07% Average of Benchmarks 3.98% 3.69% 3.30% 3.40% 3.35% Room and Board Increase Schedule Fiscal Years 2014 to % 4.25% 3.00% 3.00% 3.00% Key Competition Benchmark % 3.13% 2.67% 1.90% 2.28% National Catholic Benchmark % 2.69% 2.88% 3.35% 3.24% Regional Catholic Benchmark % 3.15% 3.15% 2.40% 2.82% Average of Benchmarks 3.48% 2.94% 2.90% 2.81% 2.80% 1 List of the top 16 institutions where Duquesne enrolled freshmen were accepted but did not attend, as well as those institutions where non-matriculated accepted freshmen enrolled. 2 US News and World Report's Nationally Ranked Catholic Universities. 3 US News and World Report's Top Ten Regionally Ranked Catholic Universities in the North.

10 Consolidated Tuition and Fees Increase Schedule: Benchmarks Fiscal Year 2018 National Catholic Benchmark 1 Regional Catholic Benchmark 2 Key Competition Benchmark 3 Boston College $ 53,346 $ 51, % Providence College $ 48,760 $ 46, % Washington & Jefferson College $ 46,628 $ 44, % Georgetown University 52,300 50, % Loyola University (MD) 47,725 46, % Saint Joseph's University 43,880 43, % University of Notre Dame 51,505 49, % Fairfield University 47,165 46, % University of Dayton 41,750 40, % Villanova University 51,284 49, % Saint Joseph's University 43,880 43, % John Carroll University 39,790 38, % Fordham University 50,986 49, % University of Scranton 43,310 42, % 36,394 35, % University of San Diego 47,708 46, % Manhattan College 42,087 40, % Saint Vincent College 34,830 33, % University of San Francisco 46,250 44, % Mount St. Mary's University 40,550 39, % Gannon University 30,932 30, % Catholic Univ. of America 44,060 42, % Canisius College 36,454 35, % Robert Morris University 29,420 28, % Loyola University (IL) 43,078 42, % 36,394 35, % University of Pittsburgh 4 19,080 18, % Saint Louis University 42,166 40, % Le Moyne College 33,905 33, % Pennsylvania State University 4 18,436 17, % University of Dayton 41,750 40, % St. Bonaventure University 33,331 32, % Temple University 4 16,658 15, % University of St. Thomas (MN) 41,133 39, % University of Delaware 4 13,160 12, % Seton Hall University (NJ) 40,888 39, % Indiana University of Pennsylvania 4 12,146 11, % Saint John's University (NY) 40,520 39, % Ohio State University 4 10,591 10, % Marquette University 39,900 38, % Slippery Rock University 4 10,205 9, % DePaul University 38,410 37, % West Chester University 4 10,064 9, % 36,394 35, % West Virginia University 4 8,376 7, % AVERAGE (excluding Duquesne) 725, , % AVERAGE (excluding Duquesne) 417, , % AVERAGE (excluding Duquesne) 385, , % 1 List of US News and World Report's Nationally Ranked Catholic Universities. 2 List of US News and World Report's Top Ten Regionally Ranked Catholic Universities in the North. 3 List of the top 16 institutions where Duquesne enrolled freshmen were accepted but did not attend, as well as the those institutions where non-matriculated accepted freshmen enrolled. 4 Reflects In-State Tuition and Fee pricing. Source: College Board Survey's Website:

11 Consolidated Room and Board Increase Schedule: Benchmarks Fiscal Year 2018 National Catholic Benchmark 1 Regional Catholic Benchmark 2 Key Competition Benchmark 3 Fordham University $17,445 $16, % Manhattan College $15,600 $15, % Saint Joseph's University $14,840 $14, % Saint John's University (NY) 17,020 16, % Saint Joseph's University 14,840 14, % University of Dayton 13,180 12, % Georgetown University 16,068 15, % University of Scranton 14,618 14, % West Chester University 12,942 12, % Seton Hall University (NJ) 15,174 14, % Fairfield University 14,280 13, % University of Delaware 12,332 12, % DePaul University 15,156 14, % Providence College 14,240 13, % Gannon University 12,320 11, % University of Notre Dame 14,890 14, % Loyola University (MD) 14,150 13, % Washington & Jefferson College 12,318 11, % University of San Francisco 14,330 13, % Le Moyne College 13,400 12, % Ohio State University 12,252 11, % Catholic University of America 14,316 13, % Canisius College 13,218 13, % 12,114 11, % Boston College 14,142 13, % Mount St. Mary's University 12,830 12, % Indiana University of Pennsylvania 11,928 12, % Loyola University (IL) 14,080 13, % Assumption College 12,196 11, % John Carroll University 11,580 11, % Villanova University 13,548 13, % 12,114 11, % Temple University 11,566 11, % University of Dayton 13,180 12, % St. Bonaventure University 11,815 11, % Saint Vincent College 11,399 11, % University of San Diego 12,630 12, % Pennsylvania State University 11,280 11, % 12,114 11, % Robert Morris University 11,180 10, % Marquette University 11,890 11, % University of Pittsburgh 10,950 10, % Saint Louis University 10,996 10, % West Virginia University 10,576 10, % University of St. Thomas (MN) 10,054 9, % Slippery Rock University 10,340 10, % AVERAGE (excluding Duquesne) 224, , % AVERAGE (excluding Duquesne) 151, , % AVERAGE (excluding Duquesne) 190, , % 1 List of US News and World Report's Nationally Ranked Catholic Universities. 2 List of US News and World Report's Top Ten Regionally Ranked Catholic Universities in the North (Mount St. Mary's University & St. Bonaventure University were tied for #10). 3 List of the top 16 institutions where Duquesne enrolled freshmen were accepted but did not attend, as well as the those institutions where non-matriculated accepted freshmen enrolled. Source: College Board Survey's Website:

12 Sticker Price vs. Average Net Price (ANP) Comparison: Key Competition 1 Sorted by size of the Average Net Price Difference from Duquesne June Sticker 2 ANP 3 ANP Difference From Duquesne $48,796 $28,930 West Virginia University $20,804 $10,814 ($18,116) University of Delaware $26,650 $15,894 ($13,036) Indiana University of Pennsylvania $24,916 $17,264 ($11,666) Slippery Rock University $23,417 $17,443 ($11,487) Ohio State University $25,579 $17,971 ($10,959) West Chester University $25,962 $18,651 ($10,279) Temple University $31,638 $21,237 ($7,693) Gannon University $44,400 $22,003 ($6,927) Saint Vincent College $46,135 $22,903 ($6,027) University of Pittsburgh $31,696 $23,572 ($5,358) Robert Morris University $43,404 $24,536 ($4,394) Pennsylvania State University $35,068 $25,055 ($3,875) Washington & Jefferson College $56,332 $27,139 ($1,791) John Carroll University $52,100 $27,205 ($1,725) Saint Joseph's University $59,138 $36,058 $7,128 University of Dayton $53,530 $34,019 $5,089 Average of Key Competition $37,548 $22,610 1 List of the top 16 institutions where Duquesne enrolled freshmen were accepted but did not attend, as well as those institutions where nonmatriculated accepted freshmen enrolled. 2 Total Expenses (on campus) -"Estimated expenses for Full-time Beginning Undergraduate Students; those students who are postsecondary education for the first time." 3 Average Net Price - "Generated by subtracting the average amount of federal, state/local government, or institutional grant or scholarship aid from the total cost of attendance. Total cost of attendance is the sum of published tuition and required fees, books and supplies, and the weighted average for room and board and other expenses." Population: "Full-time beginning undergraduate students who were awarded grant or scholarship aid from federal, state or local governments, or the institution." Source: US Department of Education, National Center for Education Statistics, IPEDS

13 Number of Full-time Undergraduate Students Receiving Financial Aid Academic Years and Freshmen All Undergrads Freshmen All Undergrads 1.) Students who applied for need based financial aid 1,258 4,581 1,369 4,620 2.) Students in line 1. determined to have financial need 1,026 3,908 1,135 3,986 3.) Students in line 2. awarded any financial aid 1,026 3,896 1,135 3,980 4.) Students in line 3. awarded need based scholarships/grants 1,026 3,776 1,135 3,874 5.) Students in line 3. awarded need based self-help 809 3, ,941 6.) Students in line 3. awarded non-need based scholarships/grants 1,026 3,698 1,132 3,797 7.) Students in line 3. whose need was fully met ) Average percentage of need met 72.4% 68.6% 74.3% 68.7% 9.) Average amount of financial aid package for students in line 3 $25,069 $23,949 $25,737 $24,420 Graduation Rates Freshman Cohort Fall 2010 HEOA provisions require that graduation rates be disaggregated in the following categories: Bachelor's or equivalent degree seeking sub cohort Completed program in 4 yrs or less Completed program in 5 yrs or less Completed program in 6 yrs or less Completed Bachelor's within 150% Headcount: ) Recipients of a Federal Pell Grant Rate: 100% 66% 74% 75% 75% 2) Recipients of subsidized Stafford Loan Headcount: who did not receive a Pell Grant Rate: 100% 71% 79% 80% 80% 3) Students who did not receive a Pell Grant Headcount: or subsidized Stafford Loan Rate: 100% 67% 76% 77% 77% 4) Total Freshman Cohort Headcount: 1, Rate: 100% 68% 76% 77% 77% Source: Office of Financial Aid