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Johns Hopkins university Financial Report 2002
President's Message | The reach of Johns Hopkins

We are pleased with the financial results reported in these pages. They reflect the strength of the continuing partnership between Johns Hopkins University and its research sponsors; the commitment of the many alumni and friends of the University in support of our efforts to continue as the nation’s premier research university; the confidence of students and parents in Johns Hopkins as an excellent center of learning; and the faith of those in need of health care in the competence of our faculty.

In the fiscal year that ended June 30, 2002, revenues from research sponsors amounted to $1.394 billion, representing
58% of total University operating revenue, an increase in research sponsorship of 17% from the previous fiscal year. Contributions to the University last year amounted to $223 million, compared to $306 million in fiscal year 2001.

For the 2001–2002 school year, Johns Hopkins University received 9,623 undergraduate applications of which 3,320 were offered acceptances, and 1,096 enrolled. Net tuition and fees received amounted to $254 million, or 10.5% of total operating revenue, an increase of 9.6% over 2000–2001.

Clinical services also grew. During fiscal year 2002, Johns Hopkins doctors generated clinical revenues of $228 million. This sum was 9% of total University revenue and reflected a year-to-year growth of 17%.

During fiscal year 2002, the University and the Johns Hopkins Health System began an assessment of the degree to which both institutions can become more efficient by sharing certain administrative and computing processes. This project, when completed, will enhance the tools available to Johns Hopkins faculty, managers, and administrators to achieve our missions efficiently and effectively.

The University continues its investment in facilities to support the expanding demand for services.

During the past fiscal year the following buildings were completed: Wolfe 3 and 4, Bloomberg School of Public Health; Student Recreation Center, Homewood campus; and Clark Hall, Homewood campus.

Also, construction began on Wolfe 5 and 6, Bloomberg School of Public Health; Hodson Hall, Homewood campus; the San Martin Center, Homewood campus; the Chemistry Building, Homewood campus; the Broadway Research Building, School of Medicine; Peabody expansion, Peabody Institute.

Phase I of the Homewood campus improvement project was completed, and Phase II was begun immediately after spring graduation. When completed, these projects will enhance Homewood’s visual appeal and make it a more student-and-faculty-friendly campus.

At this writing, we are in the middle of updating an analysis of the economic impact of Johns Hopkins on the City of Baltimore and the State of Maryland. Preliminary results suggest that the three entities derive substantial mutual benefit from their association. Building on this theme, Johns Hopkins and the City of Baltimore have announced plans to redevelop the area north of the East Baltimore campus into a biotech business zone. This project will contribute to the reduction of urban blight, create jobs, and support research and teaching within the University.

I am happy to report that Johns Hopkins University enjoyed an operating surplus of nearly $186 million in fiscal year 2002. The more important “bottom line,” however, is that Johns Hopkins University continues to be a vital, growing, contributing community within the world community with a sound financial structure for taking advantage of the opportunities that the future will bring.

James T. McGill
Senior Vice President for
Finance and Administration