USD President's Report 2019 Financial Operations

P R E S I D E N T ’ S R E P O R T 2 0 1 9 F I N A N C I A L O P E R A T I O N S

D E A R F R I E ND S , In my fifth year as president, I continue to be grateful for the exceptional accomplishments of our students, faculty, staff, administrators and alumni. These successes reflect well our commitment to our core values. We strive for excellence in learning. We cultivate a nurturing community founded on dignity and respect. We embrace the Catholic intellectual tradition that guides all Toreros to live purposeful and impactful lives. The spring semester was filled with renewal and hope. USD hosted memorable events such as a Mariachi Festival, a community engagement conference, U.S. Poet Laureate Tracy K. Smith and cherished USD supporter Reggie Smith. Men's basketball earned an NIT berth, immersion trips took students to international destinations and we engaged in the first venture-vetting Pitch Competition in Latin America, to name just a few highlights. We celebrated new names for buildings and plazas, including Saints Tekakwitha and Serra Hall. We renamed Missions Crossroads to Mata'yuum, which means “gathering place,” acknowledging the history and legacy of local indigenous tribes, particularly the Kumeyaay Nation. The fall semester was marked by gratitude for our many blessings: We celebrated alumni at Homecoming and Family Weekend. The latest amazing cohort of Women PeaceMakers arrived. Our supporters delivered a powerful message when they gave back to USD on Torero Tuesday. Many also devoted their time to learn more to help others during Homelessness and Food Insecurity Week. In November, I was privileged to see and learn more about the world by traveling with colleagues to the Middle East. We met alumni, parents and friends in Saudi Arabia. In Israel, I attended a Catholic-Jewish colloquium, "Tukkun Olam," or "heal the world" in Hebrew. My visit to Jerusalem included a stop at one of the holiest Christian sites in the world, the Church of the Holy Sepulchre. The experience was moving and was similar to what many of our students and faculty do — visit different countries, experience other cultures, meet new people and gain knowledge. They study abroad and grow as global citizens. As we all continue to evolve and grow—much as this great university continues to do — I want to thank all those who work tirelessly to make USD better, each and every day. Sincerely,

James T. Harris III, DEd President, University of San Diego

2 0 1 8 -1 9 F I N A NC I A L OP E R AT I ONS

T O TA L OP E R AT I NG R E V E NUE , G A I NS A ND O T HE R SUPPOR T * 2018-19

2017-18

2016-17

Tuition and fees, net of student aid

$ 268,606,121

$ 253,212,723 $ 241,413,247

Grants and contracts

17,486,148 22,940,948 21,340,794 50,035,648 6,544,376

16,321,093 18,437,189 20,261,967 49,551,405 7,397,043

16,573,985 19,739,854 17,347,396 48,607,426 6,348,726

Contributions

Investment income, net

Sales and services of auxiliary enterprises

Athletics, recreation and other

Total

$ 386,954,036 $ 365,181,420 $ 350,030,634

OP E R AT I NG F UNC T I ON A L E X P E NS E S *

2018-19

2017-18

2016-17

Educational and program expenses Auxiliary enterprise expenditures Management and general expenses

$ 220,462,243 $ 210,815,722 $ 208,765,026

44,042,063 76,636,303

43,081,541 73,417,908

43,010,258 69,385,724

Total

$ 341,140,610 $ 327,315,171

$ 321,161,008

I NCR E A S E I N COMB I NE D NE T A S S E T S *

2018-19

2017-18

2016-17

Unrestricted net assets

$ 44,282,204 $ 64,513,330 $ 72,398,636

Temporarily restricted net assets Permanently restricted net assets

14,157,343 5,902,580

34,716,518 3,961,016

15,975,869 4,239,811

Overall increase in net assets

$ 64,342,127

$ 103,190,864 $ 92,614,316

*Statement of activities by combined net asset categories for the fiscal year ending June 30.

69.4%

2 0 1 8 1 9 S O U R C E S O F O P E R A T I N G R E V E N U E , G A I N S A N D O T H E R S U P P O R T S O U R C E S

Tuition and fees, net of student aid Sales and services of auxiliary enterprises Contributions Investment income, net Grants and contracts Athletics, recreation and other

12.9%

6%

5.5%

4.5% 1.7%

2018 - 19 Gifts and Grants $42.37M

$75.78

$4.52

$.54 $11.80

$49.05

$3.82 $9.93 $.71

$42.37

$38.76

$36.84

T O T A L G I F T S A N D G R A N T S (dollars in millions)

$5.20 $12.29 $1.37

$6.09 $10.63 $.72

$5.64 $10.93 $.57 $16.25

$54.86

Other Grants Federal Grants Unrestricted Restricted Endowed

$26.61

$18.78

$18.01

$4.06

$7.98

$4.73

$3.45

$3.31

2018-19

2017-18

2016-17

2015-16

2014-15

G I V I NG T O T H E UN I V E R S I T Y Since its founding, the University of San Diego has achieved distinction on many levels. It has outstanding faculty and exceptional students, innovative undergraduate and graduate

22.7%

22.8%

programs, centers and institutes, acclaimed community outreach efforts and competitive men’s and women’s athletic programs. The generous support of donors has helped make the university a preeminent institution of Catholic higher education.

2 0 1 8 1 9 S O U R C E S O F T O T A L C O N T R I B U T I O N S

15%

Parents Foundations Alumni Community/Friends

27.3%

9.3%

Faculty/Staff Corporate Other Donors

2%

0.9%

11.9%

9.1%

General Scholarships/Financial Aid Joan B. Kroc School of Peace Studies

12.5%

School of Law

8.5%

Buildings

2 0 1 8 1 9 D E S I G N A T I O N S O F C O N T R I B U T I O N S

College of Arts and Sciences

Athletics

15.6%

School of Leadership and Education Sciences

8.1%

School of Business Other Restricted

Shiley-Marcos School of Engineering Hahn School of Nursing and Health Science Restricted Unassigned Unrestricted

6.7%

4.2%

16%

3.4% 3.6%

0.1%

0.3%

$276.89M 2018-19 Financial Aid Awarded

F I N A N C I A L A I D AWA R D E D * (dollars in millions)

S T U D E N T S AWA R D E D F I N A N C I A L A I D *

$268.28 $276.89

7,279 7,247

6,848

6,527 6,567

$231.92 $234.34 $245.36

7,279 2018-19 Students Awarded Financial Aid

2014-15 2015-16 2016-17 2017-18 2018-19 *These figures include all sources of aid.

*These figures include all sources of aid. 2014-15 2015-16 2016-17 2017-18 2018-19

9,181 2018-19 Fall Enrollment

E N D OWM E N T F U N D (dollars in millions)

D E G R E E S AWA R D E D

2,656 2,725

$530 $545.57

2,725 2018-19 Degrees Awarded

$503.57

2,426

2,435

$469.98

2,293

$449.80

$545.57M Endowment Fund as of June 30, 2019

2014-15 2015-16 2016-17 2017-18 2018-19

2018-19

2014-15 2015-16 2016-17 2017-18

L E A D E R SH I P

E X E CU T I V E O F F I C E R S James T. Harris III, DEd, President Gail F. Baker, PhD, Vice President and Provost Andrew T. Allen, PhD, Vice President, Institutional Effectiveness and Strategic Initiatives Rev. Msgr. Daniel J. Dillabough ’70 (BA), Vice President, Mission and Ministry Katy Roig ’11 (MSEL), CPA, Vice President, Finance and Chief Financial Officer Richard P. Virgin, Vice President, University Advancement Ky Snyder, MSHTM, Vice President, University Operations

DE A NS

BOA RD O F T RUS T E E S – MEMB E R S

Theresa Byrd, EdD, University Library Stephen Ferruolo, JD, PhD, School of Law Jane M. Georges, PhD, RN, Hahn School of Nursing and Health Science Timothy Keane, PhD, School of Business Nicholas Ladany, PhD, School of Leadership and Education Sciences Patricia Márquez, PhD, Joan B. Kroc School of Peace Studies Noelle Norton, PhD, College of Arts and Sciences Chell A. Roberts, PhD, Shiley-Marcos School of Engineering BOA RD O F T RUS T E E S – O F F I C E R S Donald R. Knauss, Chair Luis Maizel, Vice Chair Sister Carolyn Osiek, RSCJ, ThD, Secretary Robert R. Dean ’94 (BBA), Treasurer

Rev. P. Rubén Arceo, SJ Mark S. Bosco Thomas Breitling ’91 (BA)

Kimberly C. Busch Chris Carr ’86 (BBA) Constance M. Carroll, PhD Leandro A. Festino John Frager Kevin R. Green, ’76 (BA), ’79 (MBA) David F. Hale James T. Harris III, DEd Daniel C. Herbert, Esq. ’82 (BACC), ’86 (JD) Laurie C. Kelley Tom Lupfer Susan H. Mallory Jeffrey W. Martin Rev. Peter M. McGuine ’85 (BBA), STB Darrin Montalvo Sister Mary Theresa Moser, RSCJ, PhD Thomas F. Mulvaney, Esq. ’77 (JD) Michael Persall ’02 (BACC) James D. Power IV ’85 (BA) Paul Purcell ’97 (BA) Matthew J. Reno ’80 (BBA) Peter Seidler Darlene Marcos Shiley, Chair Emerita Susanne Stanford, Esq. ’75 (JD)

Carmen M. Vazquez, MSW, CSW, Vice President, Student Affairs

Note: Current as of publication date. For the most recent leadership information, go to sandiego.edu/about/leadership.

Sandra Stangl Massih Tayebi

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