P2 0R2 2ESI D ENT ’ S R EP ORT -23 FINANCIAL OPERATIONS
DEAR FRIENDS, As president of the University of San Diego, I am often asked what I would characterize as our beloved institution’s greatest strength. Is it our inspiring community of studentChangemakers, who, through their commitment to learning as well as personal and spiritual growth, seek to become the best versions of themselves? Is it our awardwinning faculty, who dedicate their considerable talents to preparing students to become tomorrow’s leaders? Is it our wonderful staff and administrators, whose daily efforts to advance our mission and core values are critical to our continued success? The answer, most emphatically, is yes … to all of the above. As a contemporary, Catholic university anchored on an international border, we are in a unique position to provide our students with an extraordinary living and learning environment. As I reflect on our myriad accomplishments over the past year, I see clear and indelible evidence that we are fulfilling our mission and making significant progress toward our vision for the future. All of this is made possible through the strong financial support of our alumni and friends who care deeply about USD and see the unlimited potential of this remarkable institution. Perhaps one of our most significant accomplishments in 2023 was revising USD’s mission, vision and values. Standing for peace is at the heart of USD’s identity — and to do that we have a responsibility to bridge differences as we approach the complexities of our world. I hope you find the 2023 President’s Report insightful as you reflect on the work we have achieved and the milestones we have reached as a community. There is much to be proud of and grateful for as we prepare to celebrate our 75th anniversary in 2024. At the University of San Diego, we are a community representing a diversity of ideas, experiences and backgrounds. As we move forward into a new year, let us come together in the spirit of our mission and recommit ourselves to fostering peace, working for justice and leading with love. Peace,
James T. Harris III, DEd President, University of San Diego
PRESIDENT ’S REP ORT 2022-23 FINANCIAL OPERATIONS TOTAL OPERATING REVENUE, GAINS AND OTHER SUPPORT * Tuition and fees, net of student aid
2022-23
$ 245,416,580
Grants and contracts
2021-22
$ 236,887,757
29,357,747
2020-21
$ 247,952,923
29,021,171
22,517,933
Contributions 23,836,285 34,502,212 18,004,823 Investment income, net
30,385,635
23,064,371
25,370,948
Sales and services of auxiliary enterprises
57,930,505
49,040,810
16,556,561
Athletics, recreation and other
10,205,393
9,937,744
3,540,842
Total
$ 397,132,143
$ 382,454,065
$ 333,944,030
OPERATING FUNCTIONAL EXPENSES * Educational and program expenses
2022-23
$ 252,557,954
2021-22
2020-21
$ 227,147,765 $ 202,470,136
Auxiliary enterprise expenditures
50,685,416 44,532,955
38,816,129
Management and general expenses
91,828,075
61,518,606
Total
$ 395,071,444
81,179,384
$ 352,860,105
$ 302,804,871
INCREASE IN COMBINED NET ASSETS * Unrestricted net assets
$
2022-23 28,513,576
2021-22
$ (14,624,800)
2020-21
$ 144,990,217
Temporarily restricted net assets
(11,403,777) (31,385,169)
82,700,155
Permanently restricted net assets
11,800,833
8,600,533
Overall increase in net assets
28,910,632
$
20,335,375
$ (25,674,594)
* Statement of activities by combined net asset categories for the fiscal year ending June 30.
$ 236,290,904
61.8%
2022-23 SOURCES OF OPERATING REVENUE, GAINS AND OTHER SUPPORT SOURCES 2.6% 7.7%
$61.84M
7.4%
Tuition and fees, net of student aid Sales and services of auxiliary enterprises Contributions Grants and contracts Investment income, net
14.6%
Athletics, recreation and other
6%
$85.71 $5.48 $23.54
$61.84 $13.04
TOTAL GRANTS, CONTRACTS AND GIFTS
$20.93
Other Grants
$4.70
$47.52
(dollars in millions)
Federal Grants
$4.80
$34.03
$17.72 $5.66
$14.29
Endowed Restricted
$0.45
Unrestricted
$8.43
Capital
2022-23
$0.78 2021-22
$19.67
$12.32
$2.21
$0.65 $6.35 2020-21
2022 - 2023 Giving Summary
GIVING TO THE UNIVERSITY Since its founding, the University of San Diego has achieved distinction on many levels. It has outstanding faculty and exceptional students, innovative undergraduate and graduate programs, centers and institutes, acclaimed community outreach efforts and competitive men’s and women’s athletic programs. The generous support of donors has helped make the university a preeminent institution of Catholic higher education.
40.1%
25.7%
2022-23 SOURCES OF TOTAL GIVING
Community/Friends Foundations Alumni
1.4%
Corporate Parents Other Donors
12.2% 3.7%
5.7%
11.2%
Faculty/Staff
20.5% USD Wide Athletics Scholarships/Financial Aid
21.6%
12%
2022-23 DESIGNATIONS OF GIVING
School of Leadership and Education Sciences Knauss School of Business School of Law Shiley-Marcos School of Engineering
10%
College of Arts and Sciences Joan B. Kroc School of Peace Studies Hahn School of Nursing and Health Science Unrestricted
21.7%
7.7% 1.4%
3.0%
0.3% 0.8% 1.0%
$310.8M
2022-23 Financial Aid Awarded
FINANCIAL AID AWARDED * (dollars in millions)
$310.8
$296.01 $290.86 $293.54
$276.89
STUDENTS AWARDED FINANCIAL AID * 7,241
7,217
7,373
7,354
7,279
7,241
2022-23 Students Awarded Financial Aid
8,815
2022-23 2021-22 2020-21 2019-20 2018-19
2022-23 2021-22 2020-21 2019-20 2018-19
* These figures include all sources of aid.
* These figures include all sources of aid.
DEGREES AWARDED
ENDOWMENT FUND
2022-23 Fall Enrollment
2,844
2,844
2,784
2,883
2,794
(dollars in millions)
2,725
$673.45 $652.52 $692.92 $532.24 $545.57
2022-23 Degrees Awarded
$673.45M
Endowment Fund as of June 30, 2023
2022-23 2021-22 2020-21 2019-20 2018-19
2022-23 2021-22 2020-21 2019-20 2018-19
LEADERSHIP EXECUTIVE OFFICERS
DEANS
BOARD OF TRUSTEES – MEMBERS
James T. Harris III, DEd President
Gail F. Baker, PhD Joan B. Kroc School of Peace Studies
Rev. P. Rubén Arceo, SJ
Gail F. Baker, PhD Vice President and Provost
Theresa Byrd, EdD University Library
Bernie Bickerstaff ’68
Andrew T. Allen, PhD Vice President, Institutional Effectiveness and Strategic Initiatives
Jane M. Georges, PhD, RN Hahn School of Nursing and Health Science
Charlotte Johnson, JD Vice President, Student Affairs Michael Lovette-Colyer, PhD Vice President, Mission Integration Tom Skinner General Counsel and Advisor to the President Katy Roig ’11 (MSEL), CPA Vice President, Finance and Chief Financial Officer Ky Snyder, MSHTM Vice President, University Operations Richard P. Virgin Vice President, University Advancement
Jon Balousek Thomas Breitling ’91 (BA) Kimberly C. Busch
Timothy Keane, PhD School of Business
Jacqueline Dupont Carlson ’89
Noelle Norton, PhD College of Arts and Sciences
Curtis S. Chambers ’19 (BS/BA)
Chell A. Roberts, PhD Shiley-Marcos School of Engineering
Leandro A. Festino
Robert Schapiro, JD School of Law Kimberly White-Smith, EdD School of Leadership and Education Sciences
Chris Carr ’86 (BBA) Sister Suzanne Cooke, RSCJ John Frager David F. Hale James T. Harris III, DEd Laurie C. Kelley Donald R. Knauss, Chair Emeritus
BOARD OF TRUSTEES – OFFICERS
Kimberly M. Koro, ’86 (JD)
Tom Mulvaney, JD ’77, Chair
Lisa Bicker Martin
Virginia C. Nelson, ’79 (JD), Vice Chair
Rev. Peter M. McGuine ’85 (BBA), STB
Sue Cunningham, Secretary
Sister Mary Theresa Moser, RSCJ, PhD
Robert R. Dean ’94 (BBA), Treasurer
Michael Persall ’02 (BACC)
Tom Lupfer
Paul Purcell ’97 (BA) Matthew J. Reno ’80 (BBA) Note: Current as of publication date. For the most recent leadership information, go to sandiego.edu/about/leadership.
Sandro Salsano Alan Schulman, JD Timothy Scott, ’96 (JD) Peter Seidler Darlene Marcos Shiley, Chair Emerita Susanne Stanford, Esq. ’75 (JD)
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