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University Finances
University Finances • Fiscal Years 2020 & 2021
2,129 Donors
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Gave to OCU in Fiscal Year 2021
$9.04 million
Average Annual Donations and Pledges to OCU, Fiscal Years 2019–2021
$7.4 million
Donated or Pledged to OCU by Bright Society members, Fiscal Years 2019–2021
Unrestricted Gross Operating Revenues
$102.58 million • FY20*
Clockwise from top of graph:
Tuition and fees (gross) • 79.0%
Other sources (including net assets released from restriction) • 15.2%
Return on investments designated or distributed for operating activities • 0.3%
Contributions (unrestricted private gifts and grants) • 0.2%
Auxiliary enterprises • 5.2%
Operating Expenses
$105.5 million • FY20*
* The fiscal year 2021 audit is in progress; audited financial information for fiscal year 2021 will be posted to www.okcu.edu. Clockwise from top of graph:
Salaries and wages • 40.4%
Financial aid • 30.9%
Recruiting and advertising • 1.0% Interest • 4.1%
Supplies • 2.5% Traveling and training • 1.2% Occupancy (leases and utilities) • 3.7% Depreciation and amortization • 7.6%
Professional fees and contracted services • 4.8%
Endowment Growth
Millions of dollars
$160 $150 $140 $130 $120 $110 $100 $90 $80
2015 2016 2017 2018 2019 2020 2021
Net Assets
Millions of dollars
$215
$205
$195
$185
Endowment
Our endowment has maintained strong financial growth through your generous support and positive investment results. The market value of endowment funds, including endowments held by other entities for the benefit of OCU, was $151,329,815 as of June 30, 2021. This report highlights those funds directly managed by OCU trustees through the Oklahoma Methodist Foundation: $96.4 million in fiscal year 2021.
Our generous and faithful donors continue to provide a significant margin of excellence for students and the faculty, staff, and programs that support them. Their philanthropy makes a profound, positive impact and continues to help make Oklahoma City University the best educational institution possible.
Many of our donors choose to direct their gifts toward endowment. OCU’s endowment, including endowment held by other entities for the benefit of OCU, is made up of 659 individual funds designated to provide perpetual financial support for scholarships, faculty professorships and chairs, the various schools, library resources, and other endowed programs. Of these funds, 570 are held by OCU, 67 by the Oklahoma United Methodist Foundation, and 22 by the Oklahoma City Community Foundation.
Total Endowment
$151.3 million • FY21*
OCU Endowment Managed by the Oklahoma United Methodist Foundation • 63.67%
Oklahoma United Methodist Foundation Endowment for the benefit of OCU • 31.95%
Other Private Foundations • 4.38%
Scholarships • 56.61% Academic Professorships & Chairs • 13.83%
Other • 29.56%
Endowment Assets by School/Department
$96.4 million • FY21*
Endowment Assets by Purpose
$96.4 million • FY21*
Clockwise from top of graph:
Alumni • 0.11%
Arts & Sciences • 9.98%
Athletics • 2.18%
Business • 17.85%
Dance & Entertainment • 1.76%
Law • 16.64%
Library • 0.50% Music • 15.82%
Nursing • 1.94% Religion • 10.35% St. Paul School of Theology • 0.12% Student Aid • 14.29%
Theatre • 1.19%
Management & Strategies
Oklahoma City University is committed to prudent, time-tested investment strategies and fiscal policies. The Board of Trustees Investment Committee is charged with overseeing its funds and measuring the returns they produce against nationally recognized standards and metrics for investment performance.
The Board of Trustees Investment Committee actively monitors the financial markets to control risk and evaluate exposure for all asset classes. The Oklahoma Methodist Foundation serves as the advisor and record keeper, and Wespath Institutional Investments serves as investment manager to the Board of Trustees Investment Committee.
In managing the endowment, the university seeks to balance the dual objectives of enhancing the future purchasing power of endowment funds and meeting current spending needs. The endowment is invested with a long-term horizon to ensure that it will grow at a rate above inflation, while providing a stable stream of income to support the purposes for which its funds were created.
Endowment growth is due not only to the generosity of thousands of alumni, friends, corporations, and foundations through the years, but also to the careful stewardship provided by the Board of Trustees.
Asset Class Overview
OCU’s directly managed endowment portfolio of $96,360,984 was composed of these asset classes as of June 30, 2021. The guiding principle of OCU’s consolidated endowment program is that funds should be managed so that a gift today will fund a donor’s objective in perpetuity.
Assets Under Management
Assets & Distribution Policy*
100
80
60
40
2018 2019 2020 2021
* The spending policy for OCU’s Endowment is 5% of the average market value of the endowment for the previous 20 quarters (five-year rolling average). This rolling, multi-year average helps to provide more predictable spending budgets. Distribution for the 2020-21 fiscal year was $3,232,150.
Broad Asset Allocations
OCU Endowment • $96.4 million • FY21*
Equities • 62.9% Fixed Income • 35.6%
Alternatives • 1.5%
Detail Asset Allocations
OCU Endowment • $96.4 million • FY21*
Clockwise from top of graph:
Cash • 2.3%
U.S. Equity Funds • 34.4% International Equity Funds • 28.5% Fixed Income Funds • 24.3%
Inflation Protection Funds • 9.0%
Alternatives • 1.1%
Mineral Interests • 0.4%
Investment Performance
OCU Endowment
Lipper Median 35% S&P 500 Index / 25% MSCI EAFE Index / 40% BC US Aggregate Intermediate Index 30
25
20
15
Percentage 10
5
0
27.35%23.69%21.37% 12.10%9.98%10.68%
1 Year 3 Years
11.59%9.30%9.90% 8.32%6.68%7.44%
5 Years 7 Years
Net of Fees • As of June 30, 2021
The historical returns presented herein represent the actual historical returns of the OCU Endowment, which reflect the deduction of fees charged by third parties.
The information in this document was obtained from sources believed to be reliable; however, accuracy is not guaranteed. Historical returns are not indicative of future performance.
Notes
1 Lipper Median returns from the Lipper mutual fund universe for balanced funds in the asset class category. As of 6/30/21, the universe consisted of 4,391 peers. Source: Wilshire Associates, Lipper, and Wespath. 2 Historical returns are time-weighted. Returns greater than one year are annualized. 3 Past performance is no guarantee of future returns.
New Endowments
Our generous donors established these endowments in fiscal year 2021.
Patty and Donald Drake Endowed Scholarship Fund
This scholarship came to fruition in spring 2021 after siblings and alumni Terry B. Drake and Susan German made plans for the fund in 2018 to honor their late parents, who were both OCU graduates. The scholarship will pay for educational expenses of computer science and business majors who have financial need and a grade point average of at least 3.0. Don Drake owned and operated Drake’s Jewelers in southern Oklahoma for more than 50 years. Patty Drake was a longtime volunteer with the First United Methodist Church's clothes closet ministry. With this scholarship, the family honors Don and Patty’s faith in God, their commitment to their community, and their conviction in the value of education.
Why I Support OCU Ron Norick
Chairman Emeritus, OCU Board of Trustees
“When I enrolled at OCU in 1960, my educational skills were less than average, and if I was going to be successful, I would need guidance. That help came to me through Dean Willis Wheat, the Business School dean. He not only mentored me, but he cared about me as a person. I graduated in 1964 from the Business School, making the dean’s honor roll, which in 1960 would have seemed impossible. Because of his kindness, Dean Wheat and I became lifelong friends, talking often until his passing. The small class sizes and the individual attention given to not only me but to all students by the professors is OCU’s strongest asset.
“My mother and grandmother were both artists and appreciated the professors for their skills but realized the art school at OCU needed to be replaced for the benefit of the staff and students. Because of their love for the graphic arts, that’s the reason the Norick family has always supported OCU’s art school.”
New Endowments
Our generous donors established these endowments in fiscal year 2021.
Dancy Endowed Energy Law Scholarship
Established in fall 2020 by alumni Joe and Vickey Dancy, the scholarship will provide recognition and assistance each year to an OCU law student who has completed at least two energy law classes. The Dancys are passionate about OCU Law. With a distinguished career in oil and gas, Joe Dancy has taught energy law and wants to encourage the next generation to enter the field.
Elms Family Scholarship Fund
Luke and Autumn Elms established this annual scholarship in spring 2021 to honor their family’s legacy at OCU and to meet educational expenses for students who also receive the Randall Great Plan Endowed Scholarship. The Elms Scholarship will pay for room and board, books and fees not covered by the Randall Great Plan Scholarship.
Meinders School of Business VITA Accounting Center Endowed Fund
Meinders School of Business Dean Emeritus Steve Agee kicked off fundraising for this endowment in spring 2021 to pay for a new Accounting Center, which will include a Volunteer Income Tax Assistance site, a low- to moderate-income tax clinic overseen by a professor and staffed by students and volunteers. When fully established, the fund will provide financial assistance to operate the accounting center, covering technology and materials purchases and payment for student interns, mentoring services, and the salary of a center coordinator.
Phyllis Corean Miller Endowed Scholarship
Lois Kathleen Kaufman and her late husband, Dennis Maxwell Kaufman, established this scholarship in spring 2021 to honor her late sister and alumna, Phyllis Miller, and to benefit students with physical and non-physical disabilities. Miller used a wheelchair throughout her life and maintained a strong connection to OCU.
William & Pamela Shdeed Endowed Scholarship
Established in fall 2020, the scholarship will benefit deserving students in the OCU School of Law. The Shdeeds understand graduating from law school is a great life achievement but one that can come with a financial burden. They want their scholarship to provide law school access to students who don’t have as many existing scholarship opportunities and are not necessarily at the top of their class. They envision their scholarship helping students achieve their dreams.
Purtell Family Endowed Memorial Scholarship
Established in spring 2021 by 1997 graduate Dr. Clinton Purtell, the scholarship honors Purtell’s late parents, the Rev. Marsha Nan Purtell and the Rev. Vaughn Clinton Purtell, a 1950 alumnus; their passion for serving the underprivileged; and the military. The award will benefit business, education, and arts and sciences majors who are first-generation, low-income, or demonstrating financial need, and students who are servant-leaders, with preference given to dependents of deceased military veterans.
Bret Wheat Memorial Endowed Scholarship
Established in spring 2021, this scholarship benefits accounting majors with a GPA of at least 3.25. Recipients will commit to working in the Meinders School of Business Voluntary Income Tax Assistance Center for one academic year, and they are eligible to keep the scholarship if they continue to meet the qualifications. The scholarship honors Bret Wheat, the youngest son of Ben M. and Maxine T. Wheat, who preceded them in death.
Why I Support OCU Jo Rowan
Professor & Chair of Dance Employee with the longest history of giving to OCU
In the 1980s, everyone wanted to learn to dance like Fred Astaire and Ginger Rogers. With that inspiration, Jo Rowan set out to create a dance program unlike any other in the U.S.: a strong grounding in dance for graduates to make a living on their own, paired with an excellent arts and sciences education. “I’ve always been for the common man,” said Rowan, professor and chair of dance. OCU’s Methodist ties provide students with the “connection with why they were put here” that centers students when they face the uncertainty of auditions. Rowan is OCU’s employee with the longest history of giving. “I have donated a lot to OCU to keep our budget in check for costumes and things like that.” She finds immense satisfaction in having prepared more than 4,000 people who are working in the dance field. And after 40 years at OCU, she still spends an hour and half at the barre every morning, the consummate dancer.
A Gift to Foster Critical Thinking and Relationships
When Dr. Susan Barber became Oklahoma City University’s provost in 2012, the faculty gave a standing ovation for her interim-turnedpermanent appointment.
“That was unprecedented,” said her husband, Dr. David Nagle. “She’d earned the credibility of everyone.”
Former colleagues Drs. Lois and Stan Kruschwitz agreed. “She has such great administrative and people skills,” Stan Kruschwitz said. “She left a legacy both in the biology department as a professor and as an administrator.”
All told, Professor and Provost Emeritus Barber spent 33 years at OCU, retiring in 2015.
As Barber and Nagle talked about OCU, Nagle did the bragging, and Barber stuck to the explanations. In her five years as provost, Barber helped create the Physician Assistant graduate program, wrangled the academic budget, and oversaw OCU’s major academic re-accreditation review, along with working with the deans for accreditation visits for the law, music, and nursing schools, and acquisition of the prestigious Association to Advance Collegiate Schools of Business accreditation. For his part, Nagle also achieved emeritus status as a University of Oklahoma microbiology professor.
The couple established and have been contributing to the Susan C. Barber and David P. Nagle Endowed Scholarship for science students for more than a decade, along with including it in their estate plans. The Kruschwitzes have also contributed to the scholarship in appreciation of Barber’s teaching, they said.
It all goes back to Barber’s time as an undergraduate student at a liberal arts university in Texas, much like OCU. “Many students need a smaller environment where they can get to know their professors,” she said.
“A lot of people could benefit from an OCU education, but many students can’t afford it. My parents were not well off, but I had an endowed scholarship and I worked at Pizza Hut.” Their scholarship doesn’t provide students with a full ride, but it helps build them a package of financial aid and helps OCU compete for students, she said. “I wanted to contribute in some way.”
Barber grew up in a small town in West Texas and thought she’d teach high school science. Her mentor during her undergraduate years “interacted with all of his students beautifully,” she recalled. She never wanted to make less than 100 on his tests, and one score of 99 drove her crazy. “I learned a lot of science in large measure because of him.”
Nagle told how the mentor stood up at his retirement dinner and declared, “Barber, you’ve always been the best student I ever had.” Barber was so embarrassed: What about all of the other students present at the dinner?
That mentor advised her to consider graduate school, expanding her view of her options, and she went on to get master’s and doctoral degrees in biology.
Giving Day 2021 Hero Adam Ryburn
Professor & Chair of Biology
“I give to help defray the costs for students. I’m a firstgeneration college student. I know it’s harder nowadays to get financial aid from the federal government. We’ll get students we’re trying to recruit who don’t have the means themselves, and without scholarships, it’s tough to get them to come here. If we had more in our scholarship fund—if we could give out a lot more—we could guarantee students would be here. That's why I give.” Not only did Ryburn give during OCU’s second annual #TrueBlueOCU Giving Day in April, he also rallied other employees and helped the Petree College of Arts and Sciences secure more donors and raise more money than the Meinders School of Business in a friendly pie-in-the-face challenge.
—Susan Barber
Professor and Provost Emeritus
In OCU’s biology department, Barber advised many students, once shedding light on one student’s love of debate. What about law school instead of medical school? Now, he has served as a district attorney in two Oklahoma counties. “You cannot believe how many successful medical doctors, PAs, dentists, researchers, professors, attorneys, teachers, entrepreneurs, and other professionals there are from OCU.”
As a self-described “reluctant administrator,” she learned to speak every constituent’s language and make connections. “She would get the right people in the right place, and they could do what was needed,” Nagle said. “I can just tell you how good she is at whatever she puts her mind to and how respected she was and how she thought things through. She listened to everyone.”
As Barber and Nagle have made estate plans, they decided to foster critical thinking by supporting OCU, a small university where students and professors get to know one another. As Nagle said, starry-eyed at a lifetime of learning, “You get to learn something new every day when you’re around smart people like at OCU, and there’s no limit—there’s no limit.”
Giving Day 2021 Hero Marty McCauley
Head Coach, Women's Golf
This Giving Day, Coach McCauley issued a fundraising challenge to all of the other sports teams at OCU. Women’s golf supporters—including McCauley himself—rose to the occasion in a big way, garnering more than $30,000. “People really like to help people,” he said. Contributions allow student-athletes to attend notable tournaments, providing them additional exposure and experience.
“My wife and I don’t have kids, so these are like our kids. I’m fully invested in their lives from the time I start recruiting them to the day I’m not on Earth anymore.”
Returning the Favor of a Scholarship
Florence Birdwell is widely regarded as one of the most renowned teachers of voice in America. Robert Birdwell’s contributions to his hometown of Oklahoma City are too numerous to list. For both, their professional success and marriage trace back to their Oklahoma City University scholarships.
“Both of my parents came from very poor families,” shared their son, Brian Birdwell. The couple is also survived by their daughter, Robyn Birdwell. “They were both such bright and talented people but would never have had a chance for an OCU education—or even meet one another—if it weren’t for their scholarships.”
Robert had to leave OCU to serve in the U.S. Navy during World War II but came back to complete his degree. The Birdwells met while Florence worked toward a fine arts degree in voice. They were married in 1945. From that point forward, the Birdwells used their considerable talents to serve and bring out the best in others: Florence, through her dedication to vocal performance, and Robert, through his constant service and quest to improve his hometown and his state. Their lasting accomplishment, though, is providing educational opportunities in perpetuity through an endowed scholarship at their alma mater. What's more, their legacy supports an academic area where Florence Birdwell became a national sensation and that Robert constantly—and proudly—promoted.
“We cherish the legacy of Florence and Robert Birdwell,” said Brian Birdwell. “I don’t know how much students examine the history of a scholarship, but from it, she brought popular American music to the forefront here. I think many, many young people would appreciate that and recognize the importance of this scholarship to our entire family.”
Why We Support OCU Paul and Kim Sanders
Enthusiastic Fans
A fixture at nearly every OCU game, match, or meet, Paul and Kim Sanders love seeing—and hearing from—the student-athletes they support. Each varsity team benefits from the Sanders’ annual financial contributions, but they also serve as OCU’s biggest fans. The small-school setting and rich athletic tradition are a perfect mixture of personal connections and shared celebrations. “We enjoy providing support, not only through our donations, but also just being at their events,” said Kim, a 1969 School of Business graduate. “Paul especially enjoys visiting with them, and we always feel closer reading so many wonderful notes of thanks and the in-person thanks we get.”
Providing a Pathway for High-Achievers
The Elms family has deep ties to Oklahoma City University. Drs. Luke and Autumn Elms, of Orlando, Florida, attended OCU in the early 2000s on academic and athletic scholarships, and they followed in the footsteps of Luke’s father and uncle, who were both music majors. Luke’s dad studied piano pedagogy, and his uncle focused on music and theatre (he later returned to OCU and was a longtime accompanist in the School of Music until he passed away in 2003). Luke’s brother, Destry, is also an OCU graduate.
But it was really Autumn’s story that motivated Luke and Autumn to establish the Elms Family Scholarship Fund. “Autumn was originally planning on going to the Naval Academy, but unforeseen circumstances changed that plan, and at the last moment she didn’t have anywhere to go to school,” shared Luke, “I was already at OCU on an academic and basketball scholarship, so I went and spoke to the Dean of Admissions and OCU Soccer Coach (Brian) Harvey. They both saw Autumn’s high potential and promise and awarded her one of the first re-established George Randall Great Plan Scholarships, which really set her on her path.”
Luke said that they became very close with George Randall over the years, and their relationship with Randall inspired them to create a family scholarship. “He instilled in us that we should go out and make something of ourselves and then pay it forward,” Luke said.
OCU students to come.”
Luke and Autumn’s vision for the Elms Family Scholarship is to help Great Plan Scholars cover the costs of fees, books, and room and board, alleviating the financial burden for high achieving students like Autumn. The scholarship pays for the expenses that often get overlooked in financial aid packages but do just as much to enable students to attend OCU.
After graduating, both Luke and Autumn went on to medical school at the University of Oklahoma and residencies in the Orlando, Florida, area. They live in Orlando and practice in two of the top hospitals in the country (Luke, a surgeon, and Autumn, an OBGYN), and are raising two young children. They keep in touch with many of their OCU professors, coaches, and friends. “We are excited to see what this scholarship will be able to do over the long term,” said Luke. “We know there are tons of immensely qualified students out there, and we hope the scholarship will make a difference for many OCU students to come.”
A Moment in Time: Health Care
• This year, OCU formed the College of Health Professions, incorporating the university’s physician assistant, physical therapy, and nursing programs. • Nursing students rotate through clinicals in 11 state hospital systems, both urban and rural. • OCU’s PA graduates—four cohorts to date—achieved a 99% pass rate on the PA licensing exam.
Professor Combines Passions to Advance Causes
Music Theory Professor Dr. Erik Heine started piano at age 5, oboe at 10, and percussion at 13. He and his mom, Deb Heine, would drive around Chicago, listening to classical music and playing “name that composer.” But when he went off to a small liberal arts college, he followed in his grandfather’s footsteps by majoring in chemistry.
In February of his second year, “I couldn’t make myself care about organic chemistry,” Heine recalled. “It took me two or three days to work up the nerve to tell my parents that I was going to major in music. I called and said, ‘I want to change my major to music,’ and it felt like it was about a two-minute pause. Then my mom said, ‘OK!’ I said, ‘OK— really?’ and she said, ‘That’s fine. You like music. You’ll be great at it.‘”
In 2016, five years after his mother passed away, Heine established the Deb Heine Endowed Scholarship by running a race—but more on that later. The scholarship will defray tuition and fees for undergraduate music majors who have completed at least five semesters and have at least one semester remaining. “When I switched my major, I had to race to get my classes done to graduate on time,” Heine said. “I want to help students who are nearing the end of their academic career—give them a little push to get to the end because that’s what my folks did for me.”
“My hope is that I’ll be able to fund a scholarship of $1,000 to $1,500 a year,” he said. He continues to make contributions. “With an endowed scholarship, it is self-fulfilling annually. This will outlive me.” This fiscal year, Heine’s scholarship fund grew to 46% above its principal through management by the Oklahoma Methodist Foundation on behalf of OCU. An endowment will allow Heine to help students not just once but every year by using only the interest earned.
Heine also wanted to give back to a school that took a chance on him as a professor, fresh out of grad school at age 27 in 2005. So in his 11th year of teaching, he approached Dean Mark Parker, “a big idea guy,” with a crazy notion: He’d run a 12-hour race to raise money for a scholarship. He ran 71.85 miles that day, blowing past the 50 miles he knew he could pull off, and he won the race.
Soon, his passion for running converged with the beating heart of his life’s work: advocacy for his son, Stephen, who was born with Rubinstein-Taybi Syndrome, a genetic condition characterized by cognitive and physical disability and health complications. This fall, Stephen returned to in-person school, but in the previous 18 months, father and son ran 2,500 miles together— Erik on foot and Stephen in a running wheelchair. In 2019, they completed their first running season as Team Hoyt Oklahoma, with pusher athletes and disabled athletes in chairs.
Heine also gets “a huge amount of satisfaction” in coaching his Music Theory 3 students into new levels of understanding, he said. “Having that exposure to new ideas, new styles, new performers is extremely rewarding,” he said.
OCU reminds Heine of his own undergraduate alma mater, Illinois Wesleyan University, with small classes taught by faculty,
A Moment in Time: Performing Arts
• OCU boasts Grammy, Emmy, and Tony Award-winning alumni and 49 Radio City Rockettes. • Performing arts seniors participate in four showcases in NYC, LA, Dallas, and Chicago. • OCU serves as the creative partner to El Sistema Oklahoma, a pioneering after-school music program supported by PlayUSA, an initiative of Carnegie Hall’s Weill Music Institute.
encouragement outside the classroom, and volunteer opportunities. “Our students come in with great talent. We refine that talent,” he said. “They come in curious about one thing. We hope they leave curious about five.”
As assistant director of the Honors Program, Heine thinks OCU lends graduates particular strength with its liberal arts foundation. “You can’t just know about your thing, especially if you’re a musician. You’re always going to have to get donations somewhere—you have to be able to carry on a conversation about sports, literature, current events … not just be in a practice room six hours a day. Particularly in OCU’s Honors Program, the students are much more invested in a larger perspective.”
After his mother died, Heine would reach for his phone to tell her about his work achievements and his life. Because she shared his love for music—founding handbell ensembles in Chicago and Philadelphia— “she was the one who would be most excited.”
“I’d like to think that the things she did for me helped make me the person I am: the love of music and showing kindness to everyone, regardless of their situation.”
A Moment in Time: Business
• OCU’s student Investment Club generated profits for the 15th year in a row, using this year’s earnings to upgrade all 11 Bloomberg lab and finance suite computers. • 100% of students who work in OCU’s Economic Research Policy Institute are employed when they graduate.
