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During 2000–2001, The Johns Hopkins University will celebrate the 125th anniversary of its founding. The University enters this milestone year in strong financial condition and perhaps better situated than ever before to accomplish its missions of research, education, and service. Its strength is due primarily to the excellence of its faculty and students and the generosity of its friends and supporters; prudent fiscal management adds to its capabilities. The management of the deans, directors, staff, and officers led to excellent financial results in 1999–2000, generally exceeding even the outstanding performance of the prior year. From revenues of $1.9 billion, cash flows from operations were $171 million. With an operating surplus of $87 million, and invested assets of $2.2 billion, the University added $514 million to its assets, bringing total assets to $3.8 billion. As detailed in this report's section on Development, the Johns Hopkins Initiative concluded on June 30, 2000, having raised more than $1.5 billion, well beyond the original goal of $900 million. The campaign added substantially to the University's capabilities, providing modern new and renovated facilities, strengthening the endowment, and greatly enhancing resources used to support students who could not otherwise afford a Johns Hopkins education. The University is also benefiting from effective investment of its assets. The endowment earned 14.4% during the year, which, when adjusted for risk, ranks it in the top quintile of funds managed with similar allocations of assets. Enrollments at the University reached a record high of 17,996 students in the fall semester 1999. The 4,547 full-time undergraduates were a phenomenally talented group, both academically and in the skills and commitment they bring to campus life in the arts, culture, and community service. Full-time graduate and professional students, numbering 4,489, are a core element of the University's research programs; they brought extraordinary records of previous achievement and remarkable promise to their studies at Johns Hopkins. The part-time programs of Hopkins, offered not only by the School of Professional Studies in Business and Education, but by several of the other divisions, grew to a total of 8,960 students. As a research university, Johns Hopkins partners with the federal government and other funding sponsors in seeking answers to humanity's most important and pressing questions on issues ranging from human health to the nature of existence. It is not surprising, therefore, that the predominant revenue source for the University is sponsored research, comprising 56% of the total. Other sources of revenue, equally critical to serving the University's mission, include instruction and related revenues (tuition, fees, housing, food service) representing 13% of the total. Clinical service revenues, primarily from the delivery of health care by the faculty of the medical and nursing schools, represent 10% of the University's revenues. Most of the balance of revenues is from philanthropy and investments. In 1999Ð2000, the University initiated two important activities to improve the administration's support of the faculty and student body. One is a University-wide effort to improve business processes, focusing on providing more cost-effective service in areas as diverse as purchasing, travel, and internal mail delivery. The second is a comprehensive review of existing administrative and supporting services information systems; the review will result in a plan for modernizing the University's computer systems. The University has been investing in its future with the construction of a number of facilities that will enhance student amenities, allow expansion of research activities, and provide overall improved support of Hopkins programs. Completed during the 1999Ð2000 year were:
In addition, currently under way are several other major construction projects. They include:
In addition, the already-beautiful Homewood campus is being transformed with the replacement of asphalt walks and drives with brick and stone; landscaping and other amenities are being improved as part of the project. To a large extent, these projects are being financed by donations from Johns Hopkins supporters. The State of Maryland's generous support of its independent higher education sector has also been critical to some of these improvements. Some debt is being used for the new research and teaching facilities in the School of Medicine and the School of Hygiene and Public Health. New debt was issued in the context of a debt policy adopted by the Trustees. This policy governs the issuance and management of debt within a framework emphasizing the fiscal prudence of a limited amount of strategically directed debt. The University continues its rolling five-year financial planning process. Every year, in conjunction with the development of its annual budget, each of the University's divisions projects detailed estimates of revenue and expense. They are subjected to analysis by University management and reviewed in depth by the Finance Committee of the Board of Trustees. The five-year plan provides a basis for financial planning and assures that the consequences of near-term decisions are understood in a long-term context.
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KREIGER
SCHOOL OF
THE SHERIDAN LIBRARIES With
the help of campaign contributions, the Milton S. Eisenhower Library
has undergone major renovations to accommodate its many programs
that use fast-growing technology for the collection and dissemination
of knowledge. Among recent initiatives are the Digital Knowledge
Center, which promotes the use of digital technology in teaching
and research across the curriculum. DKC projects include the digital
conversion of print collections, the electronic publishing of scholarly
journals in collaboration with the Johns Hopkins Press, and the development
of electronic courseware and distance learning |
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The
endowment during the campaign of the James B.
Knapp Deanship
at the Krieger School of Arts and Sciences greatly strengthens the dean's
ability to take bold initiatives and to recruit the most sought-after
faculty members and students. One initiative–the Woodrow Wilson
Undergraduate Research Fellowship Program–provides $2,500 during
each year of study to 30 freshmen and sophomores selected annually to
undertake independent research with faculty mentors. The deanship is
part of the overall doubling of the School's endowment, resulting
from Zanvyl Krieger's extraordinary challenge and the response from
scores of fellow alumni, which has more than matched his record-setting
gift. These commitments endowed 20 professorships and dozens of scholarships
and fellowships. In addition, the School acquired a permanent home for
its Washington, D.C., programs, the Bernstein-Offit Building.
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