Greenville College Annual Report 2000-2001

Message From the President

Following our college-wide opening dinner this September in which I reported on our last academic year, one administrator asked me, “Did you ever give so much good news to so many people all at the same ever before?” I had not thought of it that way, but it was indeed an exciting perspective. God blessed Greenville College last year in a wonderful way. So as the year began we celebrated a fresh sense of momentum and energy unlike any I have seen in my three years here so far. The blessings were both financial and human.

FINANCIAL
When the economy began to falter last fall and into the spring, it seemed clear we would not reach our giving goal. At Greenville we depend heavily not only on the tuition of our students but also on the generosity of our friends world-wide. We receive gifts every year out of proportion to our size. While the giving did fall short, the hard work of our finance office staff in providing accurate and timely budget data, combined with the amazing efforts of our budget managers, not only made up the shortfall, but produced another $316,000 in net savings above and beyond our budget! In a small celebration of their efforts this past month, I told these managers I would never have imagined it was possible.

While unrestricted giving did fall short, last year was still the second highest in our history. And even more exciting, it was an all-time high in restricted giving with major grants alone totally nearly a million dollars for the second year in a row. And of course the big news from late last year was the award of yet another $1 million; this time in a grant from the state of Illinois.

As the summer progressed, we saw that the slowing economy was also having some impact on potential enrollment for the fall. As late as two weeks before classes began we imagined we might be as many as 15-20 students below our historic high enrollment of last year. When the turnstiles stopped we had virtually matched it and hit our enrollment projection virtually “spot on.” What is more, we had called for no increase in financial aid, and that is exactly what happened. So for only the second year in a row in the past six, our net revenue per student increased. And our new auditors delivered a clean audit with no financial findings whatsoever.

Having begun last year opening the new Tower Apartments Residence, we marked the mid-year by opening the new Dietzman Center and started this year dedicating the College Avenue Residence. Just today, the pastor of Greenville’s largest church told me how much our College means to the whole region and remarked how delighted so many are to see these signs of progress.
Then as we finished the academic year in May, our Board of Trustees considered the “first steps” of comprehensive campaign. In the past three years we have established an independent Greenville College Foundation, revised our mission statement, developed a New Millennium Strategic Plan, and updated our Campus Master Plan. The trustees unanimously agreed to undertake the significant challenge of “covering” our internal debt of $3.74 million dollars. Even with an estate gift expected to provide $1 million, the balance was significant. As of mid-fall, we have commitments for all but only about $300,000!

HUMAN
But Greenville College is still all about people. When we said goodbye to some very good and very long-time faculty and staff last spring we wondered how we could ever find others to take their places. God blessed us again. I wish you could all meet the new faculty who have joined us. With sterling credentials and experience, they come to Greenville College as a calling. Many of them make significant sacrifices financially and personally because they believe in our mission and because they make themselves available to God’s leading in their lives. Biology, Social Work, Physics, Psychology, Art, Music, and Science Education are all infused with new energy that encourages those who already engage our students in the transformative work we undertake.

Some would say it dangerous to tell “stockholders” that last year was miraculous. It might suggest the business was “out of control” or that management was so spiritually minded they are of no “earthly good.” But at Greenville College we are not afraid to say matters are in His control, nor to pray daily that we may grow in our understanding of His purposes.

Last updated: January 16, 2002