SMU Annual Report 2002-03 - Saint Mary's University of Minnesota

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noted before on other occasions that the prophet is not someone who simply sees into the future. Rather, the prophet, the person capable of creating the future, thoroughly understands and sees the present reality and its complex, interwoven circumstances. Only at that point can there be any hope of being sensibly forward-seeing or acting. Third, the future will never get here. One’s imaginative use of a thorough understanding of the world today cannot limit what I learn and do tomorrow. In other words, we take steps toward innovation, with creative imagination. If our best-conceived plans do not work, we move on. If our best-conceived plans do work, do produce positive and meaningful results, that is wonderful, but it is not the end. We cannot sit back and congratulate ourselves on yesterday’s, or even today’s, or even tomorrow’s or next year’s successes. The future is not defined or limited by a calendar. What the future holds for us, for Saint Mary’s University of Minnesota, is the responsibility of all who read these words. This is my penultimate year. Is it time for me to relax, to coast, relishing in successes and pushing the rest into the background? Is it time for the Saint Mary’s community to sit back and think: “Two more years! Let’s wait and see what the next one has to offer!” What do you suppose my response to that would be? And I am not talking about personalities — yours or mine — or your personal reaction to my years here. I can assure you that Saint Mary’s University is not simply in a survival mode. In very many ways we are thriving. But we cannot coast, we cannot let things simply stay the way they are and fantasize some time in the future when we can get to work on some new ideas. No inertia, please! Inertia is institutional poison! It stabs you in the back, though painlessly. It comforts you and saves your energy, but, literally, takes your breath away. It is a deadly weapon disguised as comfortable hammock. Inertia is the thief of the future! Have I made my point? I can assure you that neither my Saint Mary’s energy, nor my Lasallian energy are depleted, or even low. Have I got ideas? You’d better believe it! Do I want to create some future? You can bet your life on it. Please — as you always have — please share the creative effort with me. As usual, there is lots to cheer about, lots to keep us on task, and moving in the right direction. In academics, in university relations, in admissions, in our Graduate and Special Programs, in Winona, the Twin Cities, and literally hundreds of locations around the world, we are poised. Yes, another “P” word. We are “poised.” That is just the appropriate posture for those who would create their own future: never fully at rest; always prepared for the next step; implicitly future-directed. And remembering the continuing energizing force of our Lasallian context — Teaching Minds; Touching Hearts — I invite you to take a thoughtful look at the past, and poise yourself for the thrilling pursuit of creating our own future. Saint John Baptist de La Salle, pray for us! Live, Jesus, in our hearts, forever! 3
Financials 2002-2003 REVENUES AND EXPENDITURES REVENUES AND GAINS Tuition and fees $39,165,374 Less: Scholarships and grants Net tuition and fees 32,879,892 Government grants 1,560,667 Private gifts and grants 6,985,576 Sponsored research and programs 779,469 Endowment income 196,635 Other sources 559,321 Net gain on investments Auxiliary enterprises 5,127,147 Total revenues and gains $47,212,500 EXPENSES Instruction $18,575,239 Research 190,019 Public service 2,864,883 Academic support 4,166,502 Student services 8,136,199 Auxiliary enterprises 4,303,637 Institutional support 5,738,822 Annuities payable adjustment 43,611 Total expenses $44,018,912 Increase in net assets $3,193,588 CONSOLIDATED BALANCE SHEET ASSETS Cash and cash equivalents $5,007,055 Receivables 12,694,063 Prepaid expenses 194,160 Endowment investments 23,462,277 Other investments 2,429,491 Funds held in trust for others 17,389,674 Construction in progress 87,935 Property, plant and equipment 47,649,157 Total assets $108,913,812 LIABILITIES Accounts payable $644,298 Accrued liabilities 1,840,523 Deposits and deferred revenue 5,762,589 Loans and notes payable 3,073,539 Bonds payable 15,500,000 Annuities payable 593,174 Deposits held in custody 30,363 Funds held in trust for others 17,389,674 Government grants refundable 2,866,182 Total liabilities $47,700,342 NET ASSETS Unrestricted $41,578,994 Temporarily restricted 5,154,922 Permanently restricted 14,479,554 Total net assets $61,213,470 Total liabilities & net assets $108,913,812 In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Saint Mary’s University of Minnesota at May 31, 2003, in conformity with accepted accounting practices. Virchow, Krause & Co., Certified Public Accountants GIFTS AND GRANTS SOURCES Friends 44.2% Foundations 20.5% Others 17.7% Alumni 11.7% Corporations 2.7% Parents 1.7% Minnesota Private College Fund 1.4% Friends $2,888,367 Foundations 1,342,182 Others 1,157,862 Alumni 761,975 Corporations 177,986 Parents 114,040 Minnesota Private College Fund 92,942 Total $6,535,352 The gifts and grants total above is based on receipts, not pledges. 44.2% 20.5% 17.7% 11.7% 2.7% 1.7% 1.4% 4
Page 1 and 2: Annual Investors’ Report 2002 - 2
Page 3: Penultimate & Poised: The “P” W
Page 7 and 8: This Investors Report recognizes th
Page 9 and 10: LASALLE SOCIETY Membership in the L
Page 11 and 12: John A. Schutz ’51 John G. Schutz
Page 13 and 14: Dennis V. Dahlman ’67 Capt. Eugen
Page 15 and 16: James R. Langowski ’57 Joseph C.
Page 17 and 18: James W. Shanahan ’53 Mr. and Mrs
Page 19 and 20: CLASSES Benefactors in bold are als
Page 21 and 22: James L. Glenski Maurice A. Godsil
Page 23 and 24: Roy C. Fisher George J. Giroux Char
Page 25 and 26: CLASS OF 1966 Dr. Donald M. Barry D
Page 27 and 28: Terry Malloy Chism Dennis S. Freder
Page 29 and 30: Dr. Steve M. Endres Thomas J. Evon
Page 31 and 32: Patricia Horvath Carroll Nancy Blas
Page 33 and 34: Richard Horst Tschida Paul J. Wilde
Page 35 and 36: CLASS OF 1993 Janene Marie Armstron
Page 37 and 38: CHRISTIAN BROTHERS & Brothers in Re
Page 39 and 40: Albert and Jaclyn Butenhoff Joan He
Page 41 and 42: Mr. and Mrs. Joseph Madden Mrs. Wal
Page 43 and 44: Mr. and Mrs. William E. Volckmann J
Page 45 and 46: SMU MUSIC DEPARTMENT John Michael P
Page 47 and 48: Albert and Marian Schloegel Frank S
Page 49 and 50: GENERAL MOTORS FOUNDATION Dr. Gary
Page 51 and 52: Design Photography, Ltd. Emerson El
Page 53 and 54: Lasallian Legacy Society The Lasall
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Lasallian Legacy Society Albert W.
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Minnesota Private College Fund 2002
Page 59 and 60:
Minnesota Private College Fund Cont
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Minnesota Private College Fund Cont
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Saint Mary’s University Scholarsh
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Advisory Boards 2003-2004 ALUMNI BO
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Advisory Boards 2003-2004 PRESIDENT
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Board of Trustees 2003-2004 Judith
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SMU Annual Report 2002-03 - Saint Mary's University of Minnesota

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