2022-23 Goshen College Annual Report

GOSHEN COLLEGE ANNUAL REPORT 2022-2023 | 1 President’s Annual Report 2022-2023

President’s Cabinet

Rebecca Stoltzfus ’83 President

Erica Albertin Athletic Director

Jim Alvarez ’84 Vice President for Finance

Jodi Beyeler ’00, ‘19 (MBA) Vice President for Communications and People Strategy

Board of Directors

Bruce Stahly ’67, Chair Goshen, Indiana

Retired Public School Superintendent Education Consultant

Malinda Berry ’96 Elkhart, Indiana

Associate Professor Theology and Ethics Anabaptist Mennonite Biblical Seminary

Conrad Clemens ’85 Tucson, Arizona

Professor of Pediatrics and Associate Dean for Graduate Medical Education University of Arizona

Kevin Deary ’00 Elkhart, Indiana President and CEO Boys and Girls Club of Elkhart County

Susan Fisher Miller ’80 Evanston, Illinois

Retired

Foundation Relations, Alumni Relations and Development Northwestern University

Alumni Council

Gretchen Nyce ’93, Chair Harrisonburg, Virginia

Anita Miller ’90, Secretary Denver, Colorado

Margaret Fisher Aeschliman ’87 Salem, Oregon

Ameera Alshuga ’20 Topeka, Indiana

Jaime Stack Applegate ’15 Goshen, Indiana

Ben Bontrager ’19 (MBA) Vice President for Operations

Matthew Hill Faculty Chair, Professor of Music

Gilberto Perez, Jr. Vice President for Student Life and Dean of Students

Ann Vendrely ’85

Vice President for Academic Affairs and Academic Dean

David Gautsche ’85 Lancaster, Pennsylvania President/CEO

Goodville Mutual Insurance Group

Kelly Hartzler ’97 Mishawaka, Indiana Attorney Barnes & Thornburg, LLP

Cristina Hernandez ’94 Tegucigalpa, Honduras Founder

Coquette’s Armoire and Director of Training AM Foundation

Gerry Horst ’72 New Holland, Pennsylvania President Horst and Son, Inc.

Felipe Merino

Goshen, Indiana Managing Attorney Merino Law Firm, P.C.

Arvis Dawson ‘76 Elkhart, Indiana

Galen Graber ’83 Wellman, Iowa

Kristina Roth Martin ‘89 Lancaster, Pennsylvania

Maynard Miller ’90 Millersburg, Ohio

Maryn Munley ’14 Watertown, Massachusetts

Steve Wolma

Vice President for Enrollment Management

Kathleen Yoder ’85

Executive Assistant — Office of the President (ex officio)

Todd Yoder ’84

Vice President for Institutional Advancement

Bart Miller ’90 Oak Park, Illinois

Liquidity Risk Specialist Federal Reserve Bank of Chicago

Tonya Miller ’95 Seattle, Washington Pediatric Anesthesiologist

Dan A. Nussbaum ’94 Oakville, Ontario, Canada President Arconas Corporation

Joy Sutter ’81 Harleysville, Pennsylvania Associate Administrator, Cancer Service Line, University of Pennsylvania Health System

Aaron Zou Bristol, Indiana Director for China Sales and Marketing Power Solution International, Inc.

Pamela Ortiz Ramirez ’21 Chicago, Illinois

Rachel Smucker ’15 Chicago, Illinois

Ainslee Zou ’22 Baltimore, Maryland

2 | GOSHEN COLLEGE ANNUAL REPORT 2022-2023

Dear Goshen College community and friends,

As we reflect on the 2022-2023 academic year, it is with gratitude and excitement that I address you. Our faith-filled community has continued to demonstrate excellence and innovation in various aspects of college life.

Here are a few highlights I want to share with you from the 2022-2023 academic year on campus:

• We received a $4 million federal grant to support the renovation of Westlawn Hall. This transformation will provide state-of-the-art learning spaces for our nursing and public health programs, addressing the critical shortage of healthcare professionals in our region.

• The U.S. Department of Education formally designated Goshen College as a Hispanic-Serving Institution in January, followed by an October grant that will propel the institution’s efforts to support student success and close the equity gap over the next five years.

• We launched a new Master of Social Work degree program in partnership with Bluffton University. This highly interactive, online program equips students with advanced clinical skills and the opportunity to make a meaningful impact in real-world settings.

• We recognized three student recipients of our inaugural Global Citizenship Award, honoring students who have demonstrated exceptional commitment to service and leadership, along with eight graduating seniors with the new President’s Graduating Leader Award during a special banquet ceremony in April.

• In athletics, our men’s cross country team once again showcased their talent and determination at the NAIA National Championships, with Nelson Kemboi earning his third consecutive All-American title and Mercy Chebet joining him on the All-American squad after finishing seventh in the women’s 5,000-meter final. Their achievements are a testament to the hard work and perseverance of all of our student-athletes.

• During Homecoming Weekend, we introduced our new mascot, Dash, the black squirrel, symbolizing the energetic and resilient spirit of our institution. Dash embodies the qualities of fun, confidence and strength that define Goshen College.

• That same weekend, five outstanding alumni were chosen for the 2022 alumni awards for their commitment to living out Goshen College’s motto, “Culture for Service.” Those individuals were Dan Miller ’61, Evelyn Dueck ’81, Stefon Luckey ’15, Katie Sowers ’09 and Jason Potsander ’01

As we look ahead to the future, I am filled with optimism and appreciation for the unwavering support of our community. Together, we will continue to uphold the values of Goshen College and make a positive impact in the world.

Thank you for your continued dedication and commitment to our shared mission.

In joyful service,

Dr. Rebecca J. Stoltzfus ’83 President of Goshen College

PRESIDENT’S REPORT | 3

Alumni Businesses/Organizations/Foundations

Friends

4 | GOSHEN COLLEGE ANNUAL REPORT 2022-2023 OVERALL CONTRIBUTIONS GC Fund (unrestricted) $ 2,098,541 Unrestricted Estate Gifts 338,314 Restricted — Estate Gifts 742,653

— Grants 831,000

— Other Donors 4,988,852 Total Giving $ 9,293,845

Restricted

1, 2022 — June 30, 2023

Giving July

GIVING BY YEAR

Churches Government TOTAL

2018-19 2019-20 2020-21 2021-22

$4,874,782 $6,420,981 $10,371,786 $12,602,505 $9,293,845 SOURCES OF GIFTS 60.65% 26.32% 12.30% 0.73% 0.59%

2022-23

GOSHEN COLLEGE ANNUAL REPORT 2022-2023 | 5 TOP 10 GIVING STATES (purple states above) AMOUNT # OF GIFTS Indiana $ 5,025,856 3,264 Elkhart County $ 3,259,319 2,561 Pennsylvania $ 895,775 387 Ohio $ 837,970 363 Virginia $ 259,716 169 Illinois $ 162,460 287 Kansas $ 155,729 136 New York $ 134,900 103 Oregon $ 116,470 131 Michigan $ 113,865 297 Florida $ 93,317 83 Total of United States $ 8,520,328 6,465 Total of Other Countries $ 40,089 92 Total Number of Donor Households 3,225 TOP 10 ALUMNI STATES (outlined above in blue) # OF ALUMNI Indiana 6,526 Elkhart County 4,067 Ohio 1,444 Pennsylvania 1,291 Michigan 1,018 Illinois 860 Florida 556 Colorado 555 Virginia 492 California 469 Oregon 459 Total of United States 18,031 Total of Other Countries 892

Grant Income Received

6 | GOSHEN COLLEGE ANNUAL REPORT 2022-2023

ORGANIZATION GRANT NAME OR DESCRIPTOR 2022-23 Bosch Community Foundation Merry Lea Nature Preschool programming 2022-23 $ 5,000 Merry Lea Nature Preschool programming 2023-24 $ 5,000 Community Foundation of Elkhart County Community Engaged Learning Phase 2 Year 2 $ 105,054 Seasonal Support Grant for the Music Center $ 10,000 ECoSistema Community School of the Arts $ 30,000 GC Nursing: Growing for Our Community $ 902,821 Dekko Foundation Merry Lea Nature Preschool programming $ 35,000 Horizon Education Alliance ECoSistema Community School of the Arts $ 5,000 Indiana Area Health Education Centers Public Health Grant $ 173,175 Indiana Center for Nursing HRSA: Health Resources Services Administration Diversity in Nursing Grant $ 48,826 Lilly Endowment Advancing the Science of Reading in Indiana Planning Grant Phase 1 $ 58,450 Advancing the Science of Reading in Indiana Implementation Grant Phase 2 $ 489,915 College and Community Collaboration Planning Grant $ 249,700 National Endowment for the Humanities Mara Cultural Heritage Digital Library $ 18,759 NIPSCO NiSource Charitable Environmental Action Grant for Merry Lea Environmental Center $ 4,500 Merry Lea Nature Preschool $ 5,000 The Schowalter Foundation International Student Access to a College Education $ 45,000 University of Notre Dame Library Computer Science $ 15,780 U.S. Department of Education CCYC Child Care Tuition Assistance (CCAMPIS) $ 23,327 Equipping Scholars for Globally Engaged Learning $ 185,841 U.S. Department of Justice, Office of Violence Against Women Strengthening Campus Response to Domestic Violence, Dating Violence, Sexual Assault and Stalking for LGBTQIA+ & Latinx Students $ 298,904 U.S. Department of State IDEAS: Increase & Diversify Education Abroad for US Students through World Learning $ 12,929 Well Foundation Nurse Education Simulation Training $ 20,000

Financial Highlights

Tuition and fees (net)

Donor gifts and grants (including pledges) Endowment distributions

Other

SUMMARY OF FINANCIAL POSITION 2022-23 2021-22 Assets $ 207,188,000 $ 199,744,000 Liabilities 20,599,000 22,738,000 Net Assets Without donor restrictions 42,921,000 46,420,000 With donor restrictions 143,668,000 130,586,000 Total net assets $ 186,589,000 $ 177,006,000 PRINCIPAL SOURCES OF REVENUE 2022-23 2021-22 Tuition and fees (net) $ 10,998,000 $ 10,972,000 Donor gifts and grants (including pledges) 14,574,000 12,549,000 Government grants and contracts 557,000 7,206,000 Endowment distributions 5,832,000 5,443,000 July 1, 2022 — June 30, 2023 PRINCIPAL PURPOSES OF EXPENDITURES 2022-23 2021-22 Academic and research $ 13,270,000 12,365,000 Student services and support 6,671,000 7,116,000 General administration and operations 5,848,000 5,971,000

SOURCES OF REVENUE 29% 38% 15% 18%

Cash-to-Long-Term Debt

Cash and Cash Equivalents

Long-Term Debt

% Percentage Cash-to-Long-Term Debt

8 | GOSHEN COLLEGE ANNUAL REPORT 2022-2023

2018-19 2019-20 2020-21 2021-22

$3.5M $8.6M $11.8M $11.1M $12.3M $16.8M $15.6M $18.0M $19.2M $20.4M 17.1% 44.7% 65.6% 66.1% 78.8%

2022-23

Total Net Assets

Overall Financial Strength Score

The Council of Independent Colleges overall financial strength assessment score measures resource sufficiency, operating results, financial assets and debt management. It is tracked over time and benchmarked against similar institutions. The scoring scale ranges from -4 to 10. A score of 3.0 is considered the threshold for the institutional financial strength of independent colleges and universities. * includes federal COVID-related funds

GOSHEN COLLEGE ANNUAL REPORT 2022-2023 | 9

3.0: Threshold of institutional financial health

2018-19 2019-20 2020-21 2021-22 2022-23 $38.0M $115.2M $41.3M $112.6M $46.5M $142.4M $46.4M $130.6M $42.9M $143.7M $153.1M $153.9M $188.9M $177.0M $186.6M 5.2 5.6 9.4* 5.4 6.7

2018-19 2019-20 2020-21 2021-22

Net Assets

2022-23

Without Donor Restrictions With Donor Restrictions Total