Revenue and Expenditures
Today, only about one-third of college revenue comes from state appropriations, including tuition. The remainder comes from sources such as grants, services, and philanthropic giving. As state funding continues to decline, the college will increasingly rely on charitable giving from corporations, foundations, and alumni and friends to maintain a margin of excellence in teaching, research, and patient care.
Forty-two percent of gifts in 2014-15 were immediately available to be used by the college to support programs, teaching, and research. Many gifts also came in the form of pledges or revocable commitments—funds the college cannot use until sometime in the future. For instance, 11 percent of giving last year came as revocable commitments such as a Revocable Living Trust. Trusts such as these can be managed and changed by the donor with the remaining estate funds eventually going to the college. The 2014-15 fundraising goal was $7 million. Through generous gifts and private grants, the college received more than $11.8 million dollars—exceeding our total goal by 68 percent. More than $3 million of those gifts were in immediately usable funds that could be put to work right away to support our students, patients, and faculty. The college also received close to $89,000 in new pledges and more than $1.3 million in revocable commitments.
You Make the Difference
74 percent of gifts to the college came from friends, corporations, foundations, or other organizations, while 26 percent came from alumni in 2014-15.
New Benefactors in 2013-14
Benefactors of the college have a lifetime giving of $100,000 to $999,999.
- John D. Hill, DVM
- Richard C. and Eleanor Resch Miller
- Nestlè Purina PetCare Company
($100,000 – $499,999)
- Alfred “Bud” and Gloria H. Northrup PetSmart Charities™
- Bryan and Kathy Slinker
Tuition for residents and non-residents has nearly tripled since 1997. In fiscal year 2014-15, resident students paid $22,374 each year while non-residents paid $53,428. Student scholarships can help defray some of the costs of education, putting our students in a more competitive position as they start their careers.