2023-PresReport-Financials-FNL-singles-web

PRESIDENT’S REPORT 2022-23 FINANCIAL OPERATIONS

DEAR FRIENDS, As president of the University of San Diego, I am often asked what I would characterize as our beloved institution’s greatest strength. Is it our inspiring community of student Changemakers, who, through their commitment to learning as well as personal and spiritual growth, seek to become the best versions of themselves? Is it our award winning faculty, who dedicate their considerable talents to preparing students to become tomorrow’s leaders? Is it our wonderful staff and administrators, whose daily efforts to advance our mission and core values are critical to our continued success? The answer, most emphatically, is yes … to all of the above. As a contemporary, Catholic university anchored on an international border, we are in a unique position to provide our students with an extraordinary living and learning environment. As I reflect on our myriad accomplishments over the past year, I see clear and indelible evidence that we are fulfilling our mission and making significant progress toward our vision for the future. All of this is made possible through the strong financial support of our alumni and friends who care deeply about USD and see the unlimited potential of this remarkable institution. Perhaps one of our most significant accomplishments in 2023 was revising USD’s mission, vision and values . Standing for peace is at the heart of USD’s identity — and to do that we have a responsibility to bridge differences as we approach the complexities of our world. I hope you find the 2023 President’s Report insightful as you reflect on the work we have achieved and the milestones we have reached as a community. There is much to be proud of and grateful for as we prepare to celebrate our 75th anniversary in 2024. At the University of San Diego, we are a community representing a diversity of ideas, experiences and backgrounds. As we move forward into a new year, let us come together in the spirit of our mission and recommit ourselves to fostering peace, working for justice and leading with love. Peace,

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

PRESIDENT’S REPORT

2022-23 FINANCIAL OPERATIONS

TOTAL OPERATING REVENUE, GAINS AND OTHER SUPPORT * 2022-23

2021-22

2020-21

Tuition and fees, net of student aid

$ 245,416,580

$ 236,887,757

$ 247,952,923

Grants and contracts

29,357,747 23,836,285 30,385,635 57,930,505 10,205,393

29,021,171 34,502,212 23,064,371 49,040,810 9,937,744

22,517,933 18,004,823 25,370,948 16,556,561 3,540,842

Contributions

Investment income, net

Sales and services of auxiliary enterprises

Athletics, recreation and other

Total

$ 397,132,143

$ 382,454,065

$ 333,944,030

OPERATING FUNCTIONAL EXPENSES *

2022-23

2021-22

2020-21

Educational and program expenses Auxiliary enterprise expenditures Management and general expenses

$ 252,557,954

$ 227,147,765

$ 202,470,136

50,685,416 91,828,075

44,532,955 81,179,384

38,816,129 61,518,606

Total

$ 395,071,444

$ 352,860,105

$ 302,804,871

INCREASE IN COMBINED NET ASSETS *

2022-23

2021-22

2020-21

Unrestricted net assets

$ 28,513,576

$ (14,624,800)

$ 144,990,217

Temporarily restricted net assets Permanently restricted net assets

(11,403,777) 11,800,833

(31,385,169) 20,335,375

82,700,155 8,600,533

Overall increase in net assets

$ 28,910,632

$ (25,674,594)

$ 236,290,904

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

61.8%

2022 23 SOURCES OF OPERATING REVENUE, GAINS AND OTHER SUPPORT SOURCES

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

14.6%

2.6%

6%

7.7%

7.4%

$85.71

$61.84M

$5.48

$23.54

$61.84

$13.04

TOTAL GRANTS, CONTRACTS AND GIFTS (dollars in millions)

$47.52

$4.80

$20.93

$34.03

$17.72

$4.70

Other Grants Federal Grants Unrestricted Restricted Endowed

$6.35 $5.66 $12.32 $0.65

$8.43 $14.29 $0.45

$19.67

$0.78

$2.21

Capital

2021-22

2020-21

2022-23

2022 - 2023 Giving Summary

GIVING TO THE UNIVERSITY 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

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.

40.1%

25.7%

2022 23 SOURCES OF TOTAL GIVING

Community/Friends Foundations Alumni

12.2%

1.4%

Corporate

3.7%

Faculty/Staff Parents Other Donors

5.7%

11.2%

20.5%

USD Wide Athletics

Scholarships/Financial Aid

21.6%

12%

School of Leadership and Education Sciences

2022 23 DESIGNATIONS OF GIVING

Knauss School of Business

School of Law

Shiley-Marcos School of Engineering

College of Arts and Sciences

10%

Hahn School of Nursing and Health Science Joan B. Kroc School of Peace Studies

Unrestricted

21.7%

7.7%

3.0%

1.4%

0.3%

0.8% 1.0%

$310.8M 2022-23 Financial Aid Awarded

FINANCIAL AID AWARDED* (dollars in millions)

STUDENTS AWARDED FINANCIAL AID*

$310.8

$296.01 $290.86

$293.54

7,373

7,354

7,279

$276.89

7,241

7,217

7,241 2022-23 Students Awarded Financial Aid

2021-22 2022-23 2020-21 2019-20 2018-19 * These figures include all sources of aid.

* These figures include all sources of aid. 2021-22 2022-23 2020-21 2019-20 2018-19

8,815 2022-23 Fall Enrollment

ENDOWMENT FUND (dollars in millions) $692.92 $673.45 $652.52

DEGREES AWARDED

2,883

2,844 2,784

2,794

2,725

2,844 2022-23 Degrees Awarded

$532.24 $545.57

$673.45M Endowment Fund as of June 30, 2023

2022-23 2021-22

2018-19 2019-20 2020-21

2021-22 2022-23 2020-21 2019-20 2018-19

LEADERSHIP

EXECUTIVE OFFICERS

DEANS

BOARD OF TRUSTEES – MEMBERS

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 Charlotte Johnson, JD Vice President, Student Affairs Michael Lovette-Colyer, PhD Vice President, Mission Integration Tom Skinner General Counsel and Advisor to the President Katy Roig ’11 (MSEL), CPA Vice President, Finance and Chief Financial Officer Ky Snyder, MSHTM Vice President, University Operations Richard P. Virgin Vice President, University Advancement

Gail F. Baker, PhD Joan B. Kroc School of Peace Studies Theresa Byrd, EdD University Library Jane M. Georges, PhD, RN Hahn School of Nursing and Health Science Timothy Keane, PhD School of Business Noelle Norton, PhD College of Arts and Sciences Chell A. Roberts, PhD Shiley-Marcos School of Engineering Robert Schapiro, JD School of Law Kimberly White-Smith, EdD School of Leadership and Education Sciences

Rev. P. Rubén Arceo, SJ Jon Balousek Bernie Bickerstaff ’68 Thomas Breitling ’91 (BA) Kimberly C. Busch Jacqueline Dupont Carlson ’89 Chris Carr ’86 (BBA) Curtis S. Chambers ’19 (BS/BA) Sister Suzanne Cooke, RSCJ Leandro A. Festino John Frager David F. Hale James T. Harris III, DEd Laurie C. Kelley Donald R. Knauss, Chair Emeritus Kimberly M. Koro, ’86 (JD) Tom Lupfer Lisa Bicker Martin Rev. Peter M. McGuine ’85 (BBA), STB Sister Mary Theresa Moser, RSCJ, PhD Michael Persall ’02 (BACC) Paul Purcell ’97 (BA) Matthew J. Reno ’80 (BBA) Sandro Salsano Alan Schulman, JD Timothy Scott, ’96 (JD) Peter Seidler Darlene Marcos Shiley, Chair Emerita Susanne Stanford, Esq. ’75 (JD)

BOARD OF TRUSTEES – OFFICERS

Tom Mulvaney, JD ’77, Chair Virginia C. Nelson, ’79 (JD), Vice Chair Sue Cunningham, Secretary Robert R. Dean ’94 (BBA), Treasurer

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

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