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.
Thirty percent of gifts in 2015–16 were immediately available to be used by the college to support programs, teaching, and research. Many gifts also come in the form of pledges or revocable commitments—funds the college cannot use until sometime in the future. For instance, 39 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 2015–16 fundraising goal was $7.7 million. Through generous gifts and private grants, the college received more than $16.1 million dollars—exceeding our total goal by 110 percent. More than $4 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 $30,000 in new pledges and more than $6.3 million in revocable commitments.
Tuition for residents and nonresidents has nearly tripled since 1996 for veterinary students. In fiscal year 2015–16, resident students paid $22,390 each year while nonresidents paid $53,444. After rising sharply for nearly a decade, tuition rates leveled the last four years. But high tuitions mean many veterinary students graduate with large debt. Student scholarships can help defray some of the costs of education, putting our students in a more competitive position as they start their careers.
You Make the Difference
Ninety percent of gifts to the college came from friends, corporations, foundations, or other organizations while 10 percent came from alumni in 2015–16.
New Benefactors and Laureates in 2015–16
($1,000,000 to $4,999,999)
Don J. Finsen
($100,000 to $499,999)
LeeAndra “Lee” Bates
College of Veterinary Medicine DVM Class of 1961
Bertie (Bert) Schumacher