1983-1984 Cedarville College Annual Report

FINANCES Once again, Cedarville College functioned during the past year with fiscal soundness, a tribute to the sound governance of our trustees and administration. While 85.3 percent of the college's $10 million annual budget came from tuition, room, board, and student fees, the remaining 14.7 percent, or $1.47 mil– lion, was raised from other sources including gifts. Corporations Churches Alumni Friends Foundations Other Groups Gifts Fiscal 1982-83 (year ending June 30, l983) By Sources $ $ Amount 175,483 356,799 201 ,314 448 ,193 94 ,600 20 ,281 1,296 ,670 Percentage 13 .5 27.5 15.5 34 .6 7.3 ___L§ 100.0 An encouraging trend for Cedarville was increased support from churches, alumni, friends, corporations, and foundations. Last year 350 churches gave regularly to the college. Over 100 President's Associates gave $1 ,000 or more . In fact, over 15,000 gift transactions were recorded. Gifts received totaled $1,296,670 with $549,454 used for general fund relief. Instruction and Academic Support 28.5% Expenditures Administrative and Institutional Service 27.4% Auxiliary Services 22.0% Debt Service 14.2% Physical Plant 7.9% FUTURE As I reflect upon the success of our past, my anticipation for the future grows . Frankly, my excitement has never been greater in view of the opportunities ahead. The college is well positioned in the market place to continue to attract choice Christian students . We are financially sound. However, to insure our stance among the leadership in Christian education , some pressing needs must be addressed. Intense planning efforts campus-wide have identified the need for a new library that would be approximately three times the size of our present facility. New classroom and office space for our largest major, Business Administration , is vital. We can provide this by renovating the present library once the new one is constructed. A new classroom/music building would allow us to centralize our fine music department which is now located in a number of buildings throughout the village of Cedarville . As enrollment grows, we will need to expand the chapel. Additional endowment is necessary to undergird our financial stability . Finally , in order to keep Cedarville as one of the least expensive, accredited, Christian liberal arts colleges, an– nual, unrestricted gifts must be substantially increased . We live in a historical moment which I perceive to be a bridge between the Industrial Age and the new Information Age. Cedarville College is crossing that bridge with a surefootedness because of the blessing of our God and the quality of our continuing commitment to our historic mission- to impart to our students a quality , Christian education consistent with Biblical truth. 27.5%