Professionalism
Building 2012-2013
Leadership Report
Preparation
Opportunity
Growth
RENEW AL Achievement Excellence Community Learning Progress
Innovation
Leadership Report | 2012-2013
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Leadership Report | 2012-2013
Pac e U n i v e r s i t y L e a d e r s h i p R e p o rt 2 0 1 2 - 2 0 1 3 L ea de rsh ip Re p ort 2 Pace’s Ye a r in Review 6 F in a n c ia l Re p ort 10 Pace L e a de rsh ip 17 The Honor Roll of Donors will be exclusively online this year. Please visit www.pace.edu/thankyou to view the listings and read inspiring stories of giving to Pace.
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Leadership Report | 2012-2013
Chairman Besca, left, and President Friedman.
R enewal by Stephen J. Friedman, President, and Mark M. Besca ’81, Chairman, Pace Board of Trustees
T
he past 18 months have been an extremely important time for Pace University. This period has brought widespread renewal to the University in almost every respect: our Board, faculty, curriculum, academic life, student co-curricular life, and both campuses.
There is a new sense of verve and excitement about the future at every level. At the end of June 2013, Neil Bianco concluded 14 years as Chairman of the Pace Board of Trustees. Happily, he will remain on the Board through May 2016. Neil’s many contributions to Pace University as a long-time Trustee and as Chairman were celebrated at the annual Board dinner in May. He was succeeded as Chairman by Vice Chairman and Lubin alumnus Mark M. Besca ’81. Mark is the New York City Office Managing Partner of Ernst & Young and has served on the Pace Board of Trustees since 2001. Last June, Donald Boudreau and Hal Upbin completed their final three-year terms as Trustees. We are very grateful for their long service, many
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Leadership Report | 2012-2013
contributions, and continuing support of the University. Both will continue as Trustees Emeriti. A few months later, we welcomed Susan Wallach as a new Trustee. Susan is a lawyer who recently completed a term on the Harvard Board of Overseers. She has been deeply involved in both higher and K-12 education. At the decanal level, we were delighted that Amar Gupta, PhD, became Dean of Pace’s Seidenberg School of Computer Science and Information Systems, and David Yassky, who has had a varied career in law, academia, and government, became Dean of Pace Law School in April 2014. We are grateful for the dedicated service of Dean Michelle Simon during a challenging period for American law schools.
B u i l d i n g t h e F a c u lt y o f t h e F u t u r e The faculties of most universities are somewhat skewed toward the older ranks because faculties expanded to match the growth of the college populations driven by the Baby Boom generation. With the oldest Boomers now moving beyond 65, and their teachers moving into their 70s and beyond, our senior faculty members are retiring at a pace reminiscent of their growth in numbers a few decades ago. Pace has been on a steady path to attract
Over the past five years we
new faculty members and to allocate vacant faculty
have hired 139 full-time faculty
positions to new academic programs and established
members, and the process of
programs that are expanding. Over the past five years we have hired 139 full-time faculty members, and the
renewal continues unabated....
process of renewal continues unabated. As new faculty
We are pleased that so many
members mature and achieve tenured status, they
interesting, talented, and
will shape the quality and nature of the curriculum for many years to come. We are pleased that so many interesting, talented, and committed new faculty
committed new faculty members continue to join our ranks.
members continue to join our ranks. Dyson College of Arts and Sciences has been the fastest growing part of the University for the past ten years. During that period, its undergraduate body has grown by 39 percent and its graduate student body has grown by 65 percent. The undergraduate Performing Arts program has been the fastest growing major program in the University. Last fall, there were over 3,000 applications for about 160 places in that program. Over the past few years, the Lubin School has experienced renewed growth, and the College of Health Professions has expanded. Overall, the University has grown every year since the fall of 2007. Under the academic leadership of Provost Uday Sukhatme, ScD, the University has been creating and expanding undergraduate and graduate academic programs—Performing Arts, Psychology, and Communications in Dyson College of Arts and Sciences; new concentrations in Analytics,
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Leadership Report | 2012-2013
Entertainment and Arts Management, and Sports Management, as well as a renewed focus on the Accounting program in the Lubin School of Business; and a number of new degrees in the College of Health Professions and the Seidenberg School of Computer Science and Information Systems. These new programs are highlighted in the new University website and in new websites for each of the schools and colleges. Provost Sukhatme has brought a stronger emphasis on faculty research and scholarship, an essential element in raising the academic reputation of Pace University. Faculty research has also been an important element in the hiring of new faculty members. In addition to our practiceoriented doctoral programs, there are two new PhD programs in Mental Health Counseling and
We have embarked on an important
Computer Science, with others under development.
initiative called the Pace Path, which
Combining real-world experiences with excellent
seeks to integrate those experiences
liberal and professional education has always been
more closely with traditional education and bring more clarity and significance to the outcomes of those experiences. The objective is to produce graduates who are more effective citizens and professionals than those from other institutions.
at the foundation of a Pace degree. Pace has the largest internship and fieldwork program in New York metropolitan area and a wide range of other powerful professional experiences: clinical courses, travel courses, research collaborations between students and professors that result in jointly published papers, and team competitions in areas as diverse as monetary policy, advertising, and Model UN. We have embarked on an important initiative called the Pace Path, which seeks to integrate those experiences more closely with traditional education
and bring more clarity and significance to the outcomes of those experiences. The objective is for Pace to produce graduates who are more effective citizens and professionals than those from other institutions. You will hear a good deal more about the Pace Path over the next few years. Pace is also in the midst of a wide-ranging campus renewal. A few years ago, we completed an $8 million rebuilding of the Dyson Hall laboratories in Pleasantville. In October 2013, we broke ground for a $100 million modernization of the Pleasantville Campus. Over the next two years, we will build two new residence halls in Pleasantville to replace aging dormitories at the Briarcliff location, which will be sold. There will also be an expansion of the dining and recreational space in the Kessel Student Center, a new Environmental Center, new athletic fields, and a new athletic clubhouse. The Campaign for Pleasantville, which will fund a part of the project, is in full swing. In New York City, the new Performing Arts Center opened on William Street last spring, a new 23-story residence hall opened last fall at 182 Broadway, and another new 34-story residence
4
Leadership Report | 2012-2013
hall is scheduled to open in fall 2015. In addition to being a major upgrade in quality, the new residence halls will operate at a substantial saving over the living spaces they are replacing. In other buildings, there are two new floors devoted to a technology-driven patient treatment simulation lab for the College of Health Professions, new space for the Art Department, and a multi-year project to modernize the laboratories on the third floor of One Pace Plaza.
Exploring the Frontiers of Technology Most people are familiar with the growth of online education and other aspects of educational technology. This technology will create a deep-running current that will affect every college and university over the coming years. It will impact different sectors of higher education in different ways. We have an educational technology committee composed of faculty and staff with a mandate to help us understand how Pace, given its history, mission, and student body, can most effectively use the new technology to thrive as the educational landscape changes. At the same time, the use of educational technology at the University is proceeding smoothly. We have more than 700 online courses available to students during the course of the school year, winter intersession, and the summer. That includes a number of online programs that benefit nontraditional students, including employees of large communications companies (NACTEL) and people who attended some college in the past and are now completing degrees while working full-time (iPace). The Executive MBA program and a new master’s degree in Finance are “hybrid” courses, a combination of residencies and collaborative online education. All of these efforts are directed at our students in order to help them navigate the magical transformation from freshmen to educated, thinking professionals, ready to start work and impress their employers with their work ethic and effectiveness, or go on to graduate school. That transformation is a constant source of wonder and pride for everyone at Pace. Our students reinforce that wonder and pride time and again—when the undergraduate Economics Team comes in third in the nation two years in a row at the Federal Reserve Board’s competition on monetary policy, when the Pace Model UN team places third in the nation at the 2013 Model UN conference, when the Student-Managed Portfolio’s 39 percent gain for 2013 places Pace first in the “Undergraduate Growth” category at this year’s Global Asset Management Education Forum, when Pace has another three National Fulbright Finalists, and when we hear of any of the countless other student achievements that make it clear that Pace students compete and win at the highest levels. All of the renewal, building, and innovation at Pace University are creating an exciting and rewarding future for today’s students, for future generations of Pace students, and for our alumni. We are very enthusiastic about the future of this great University. u
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Leadership Report | 2012-2013
Year in Review 2012-2013
9.4 First-year students kick off their college years at the 5th Annual Convocation, featuring food, festivities, and a keynote address on justice from Harvard Professor and best-selling author Michael J. Sandel.
8.15
9.6
Amar Gupta, PhD, the Thomas R. Brown endowed professor of management and technology at the University of Arizona and a visiting scientist at MIT, is appointed dean of Pace’s Seidenberg School of Computer Science and Information Systems.
Moderated by Good Morning America legal analyst and attorney Dan Abrams, Pace Law School’s Trials and Error focuses on the O.J. Simpson case and features key players debating the trial in a panel with Alan Dershowitz, member of O.J.’s “Dream Team”; Christopher Darden, deputy district attorney for Los Angeles County; Kim Goldman, sister of victim Ron Goldman; and Fred Goldman, his father.
9.19–20
8.23
7.25
Three-time Olympian and School of Education alumnus Tim Morehouse ’03 takes a stab at a gold medal as a fencer for Team USA during the 2012 Summer Olympics in London.
July 6
Pace signs an agreement with SL Green Realty Corp. for a new 30-story residence hall that will accommodate approximately 600 beds and offer state-of-the-art student amenities at 33 Beekman Street in downtown Manhattan.
August
Brian Friedman, one of the country’s most prominent choreographers, teaches master classes to Pace University commercial dance students as an artist in residence.
9.27
Pace’s Entrepreneurship Lab kicks off the academic year with guest speaker Sam Hamadeh, the co-founder of career and job search supergiant VAULT.com, who sold his stake for $100 million and founded a leading financial data analysis company.
September
Leadership Report | 2012-2013
10.8
Lubin’s Executive in Residence Richard Feldstein comes to the NYC Campus to discuss accounting and celebrity and what it’s like to have entertainment industry clients.
11.12
United States Supreme Court Justice Sonia Sotomayor meets with Pace Law School students in a day-long visit to the Law School’s Campus.
11.27
The Pace Economics team wins first place at the 2012 New York Federal Reserve Bank’s College Fed Challenge, beating out 33 colleges from across the region including NYU, Cornell, and Columbia. The team goes on to place third at the national finals.
10.9
President Stephen J. Friedman and new Provost Uday Sukhatme, ScD, welcome all the members of the Pace Community back to campus and kick off the school year at the President and Provost Welcome Reception.
11.26
In a touching photograph seen around the world, NYPD Officer and Pace graduate Larry DePrimo ’09 gives a homeless, shoeless man in Times Square a pair of boots and warm socks.
10.12
Actors Studio Drama School alumnus and Academy Award nominee Bradley Cooper sits down with James Lipton to film the 250th episode of Inside the Actors Studio.
October
11.29
InsideTrack returns to Pace as President Stephen J. Friedman sits down with William C. Dudley, president and CEO of the Federal Reserve Bank of New York.
12.7
The U.S. News Short List ranks Pace among the top 5 universities in the nation for undergraduate internship placement.
November
December 7
Leadership Report | 2012-2013
Harriet R. Feldman, PhD, RN, FAAN, assumes the role of dean and tenured professor of Pace’s College of Health Professions and Lienhard School of Nursing.
2.19
Pace University and Encore.org, a nonprofit promoting job shifts that serve the greater good, join forces for Mid-Life Game Changers—A Pace Panel on Encore Careers.
1.28
Acclaimed Broadway director and Tony Awardwinner Julie Taymor participates in the Pace Performing Arts Masters Series at the Schimmel Center in NYC.
2.26
Actress, comedian, writer, and producer Tina Fey, best known for her work on Saturday Night Live and 30 Rock, visits the NYC Campus as a guest on Inside the Actors Studio.
3.21
The Entrepreneurship Lab hosts a Fireside Chat with Miles Lasater, co-founder and COO of Higher One.
1.31
Writer, producer, and director Spike Lee presents the keynote address at the Office of Multicultural Affairs’ annual MLK lecture in NYC, where he reflects on the role of the media as change agents in the quest for social justice.
U.S. News & World Report ranks Pace’s online bachelor’s programs the best in the nation. The programs, which include iPace and NACTEL, were judged on criteria such as student engagement, faculty credentials, and student services.
8
January
2.28
Pace University teams up with the Association of Chartered Certified Accountants (ACCA) USA for Cybercrime in the World Today, a symposium focused on skimmer fraud.
February
Pace hosts its first-ever Massive Open Online Course (MOOC) led by Seidenberg Dean Amar Gupta, PhD, which takes a look at the emerging Knowledge Economy. The series features a special guest lecture by Ivan Seidenberg ’81, retired chairman and CEO of Verizon.
March
Leadership Report | 2012-2013
Pace announces its first Doctor of Philosophy degree, the PhD in Mental Health Counseling, the first such degree program in New York State, to begin in fall 2013. Curtain’s up! Pace Performing Arts hosts the grand opening of its new building at 140 William Street.
4.20
Pace students, faculty, and staff carry buckets of water for one mile as The Pace Academy for Applied Environmental Studies, in partnership with Pace Athletics, hosts the Walk for World Water to raise awareness of the global water crisis and $5,000 for Engineers Without Borders.
5.14–17
Pace celebrates 2013 Commencement with ceremonies at the Westchester Campus, Pace Law School, and Radio City Music Hall.
6.26
Alumni and friends gather at the Central Park Zoo for the inaugural Spirit of Pace Awards dinner to celebrate the University’s rich history and accomplishments. Economics Professor Michael Szenberg receives the Homer and Charles Pace Faculty Award.
4.23
President Stephen J. Friedman sits down with Pace alumnus Thomas J. Quinlan III ’85, president and CEO of RR Donnelley & Sons Company, for a discussion on the fast-paced changes in media and publishing and coping with disruption, as part of the InsideTrack series.
Pace’s Board of Trustees unanimously approves the first phase of the University’s Master Site Plan that will transform and reposition the Pleasantville Campus for its next 50 years.
6.30
Pace Professor Susan Herman is chosen for the National Crime Victim Service Award by the U.S. Department of Justice for 30 years of advocating for victims’ rights.
April
U.S. News & World Report ranks Pace the top online program for veterans. Pace is also consistently listed as a Military Friendly School by G.I. Jobs magazine, an honor awarded to only 15% of colleges, universities, and trade schools nationwide.
May
Aniello A. Bianco ’61, Chairman of the University’s Board of Trustees for 14 years, concludes his last term in office. He is succeeded by Vice Chairman Mark M. Besca ’81.
June
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Leadership Report | 2012-2013
F inancial P e rf o rm an c e 2 0 1 2- 2 0 1 3 By Robert Almon, Executive Vice President and Chief Financial Officer
Highlights and Overview
Liabilities FY2013
Through a variety of revenue enhancement, cost reduction, and strategic investment initiatives, the University has steadily improved its financial performance. In FY13 the University achieved a third consecutive year of unrestricted positive operating results. The financial stability of the University enabled us to invest in strategic initiatives designed to result in ongoing revenue growth and improved operating results over the long term. Recent initiatives include a new leased facility to allow for the expansion of the Performing Arts program and two new leased built-to-suit-dormitories in Manhattan.
Liabilities FY2012
Liabilities
FY2013 FY2012
n Accounts payable and accrued
liabilities
$36,756,619
$33,046,862
n Notes payable
34,000,000
46,000,000
n Fair value of derivative instrument
— 11,370,956
n Deferred revenues and deposits
13,764,323
10,430,171
124,539,721
111,577,000
n Deferred rental revenue
6,609,378
7,553,574
n Asset retirement obligations
3,458,197
3,378,371
85,162,816
88,018,979
12,725,794
12,550,303
n Long-term debt
n Accrued postretirement health
benefit obligation
n U.S. government grants refundable
Balance Sheets | June 30, 2013 and 2012
Total liabilities
Assets FY2013
Net Assets
Assets FY2012
Assets n Cash and cash equivalents
FY2013 FY2012 $14,894,949
$22,154,829
n Short-term investments
3,526,053
3,514,119
n Student accounts receivable, net
7,311,958
6,994,220
n Grants and other receivables
4,622,087
5,441,740
n Prepaid expenses and other assets
4,856,146
9,378,199
n Contributions receivable, net
8,956,396
10,860,855
139,871,214
124,381,733
13,146,825
13,347,848
fair value
11,341,754
8,235,974
n Plant assets, net
269,309,259
260,175,782
n Investments n Student loans receivable, net n Funds held by bond trustees, at
Total assets
10
$477,836,641 $464,485,299
$317,016,848 $323,926,216
Unrestricted:
General
94,027,400
88,659,543
Accrued postretirement health benefit obligation
(85,162,816)
(88,018,979)
Total unrestricted
8,864,584
640,564
Temporarily restricted
74,961,052
63,052,550
Permanently restricted
76,994,157
76,865,969
160,819,793
140,559,083
Total net assets Total liabilities and net assets
$477,836,641 $464,485,299
Balance Sheet and Net Assets The University’s net assets increased by $8.2 million in FY13. In addition to $2.1 million of operating surplus, the primary drivers of the increase were the non-operating gains relating to the increase in
Leadership Report | 2012-2013
interest rates during FY13, which reduced the accrued postretirement health benefits obligation. Total assets increased $13.4 million, including a $15.5 million increase in investments as well as a $9.1 million increase in net plant assets offset by a $7.3 million decrease in the combined balance of cash and short-term investments. During FY13 Pace invested $19.5 million in fixed assets additions, including $2.2
million in relation to the Westchester Master Plan. Total liabilities decreased $6.9 million. Key components include a $12.0 million decrease in the amount drawn on the University’s notes payable, a $13 million increase in long-term debt, $11.4 million termination of Pace’s interest rate swap, and $2.9 million decrease in the accrued postretirement health benefits obligation.
Statements of Activities | Fiscal Years ended June 30, 2013 and 2012 Temporarily Permanently Revenues Unrestricted Restricted Restricted Tuition and fees, net
$ 247,238,494
Government grants and contracts
$ –
$ –
2013
2012
$ 247,238,494 $ 233,065,592
8,203,642
–
–
8,203,642
State appropriations
806,235
–
–
806,235
809,227
Contributions
912,058
6,826,323
101,837
7,840,218
8,170,234
287,982
2,980,232
–
3,268,214
2,814,349
49,540,045
–
–
49,540,045
45,142,281
Investment return appropriated Sales and services of auxiliary enterprises
11,720,371
Other sources
9,461,098
–
124
9,461,222
8,671,910
Net assets released from restrictions
8,238,981
(8,238,981)
–
–
–
324,688,535
1,567,574
101,961
326,358,070 310,393,964
$125,412,697
$ –
$ –
$ 125,412,697 $ 120,587,721
3,999,298
–
–
3,999,298
4,206,806
Academic support
46,439,128
–
–
46,439,128
45,612,469
Student services
42,058,739
–
–
42,058,739
40,470,122
Institutional support
54,690,550
–
–
54,690,550
49,095,559
Auxiliary enterprises
49,940,888
–
–
49,940,888
46,093,691
322,541,300
–
–
2,147,235
1,567,574
101,961
$1,829,896
$ –
666,401
12,827,441
2,513,472
Total revenues Expenses: Instruction Research
Total expenses Excess of operating revenues over expenses
322,541,300 306,066,368 3,816,770
4,327,596
$ –
$1,829,896
$(4,632,232)
–
13,493,842
(4,852,576)
(2,513,472)
–
–
– (11,028,272)
Non-operating activities: Unrealized (depreciation) appreciation in fair value of derivative instrument Investment return, net Effect of underwater endowments Changes in postretirement health benefits obligation other than net periodic cost Loss on refunding of long term debt (note 9) Other
Total non-operating activities Change in net assets
5,646,016
–
–
5,646,016
(4,322,084)
–
–
(4,322,084)
–
(256,916)
26,959
26,227
(203,730)
260,405
6,076,785
10,340,928
26,227
16,443,940 (20,252,675)
$8,224,020 $11,908,502
$128,188
$20,260,710 $(15,925,079)
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Leadership Report | 2012-2013
Unrestricted Operating Revenue by Source
Endowment Allocation | June 30, 2013
n Cash and cash equivalents
Fiscal Year Ended June 30, 2013
$2,586,082
1.9%
n Tuition and fees, net
346,867
0.2%
n Government grants and contracts
8,203,642
2.5%
n Mutual funds
51,838,227
37.1%
n State appropriations
806,235
0.2%
n Equity and fixed income funds
66,325,654
47.4%
n Contributions
912,058
0.3%
n Alternative investments
17,960,243
12.8%
n Investment return appropriated
287,982
0.1%
814,141
0.6%
n Common stocks
n Municipal bonds
Total*
$139,871,214 100%
*Includes $1.7 million of assets held under split-interest agreements.
As of June 30, 2013, Pace’s investments were valued at $139.9 million, an increase of $15.5 million (12.5%) from $124.4 million at June 30, 2012. The one-year return for FY13 was a positive 13.8% compared to slightly over 0.8% negative return in FY12. The return is generally consistent with the overall trend in financial markets. The portfolio strategy allocation is 80% equity and 20% fixed income. As of June 30, 2013, investments were allocated approximately 47% in equity and fixed income funds, 37% in mutual funds, 13% in alternative investments, 2% in cash and cash equivalents, and the remaining 1% in municipal bonds and common stocks. Pace relies on its endowment to finance critical needs and initiatives that advance the University’s role as a leader in higher education. Current University policy permits the use of 5% of the quarterly three-year moving average of the pooled investments for operations. The FY13 endowment distribution that was used to support scholarships, student life, department chairs, and purposes specified by donors totaled $3.3 million.
12
$247,238,494 76.2%
n Sales and services of auxiliary
49,540,045
15.3%
n Other sources
enterprises
9,461,098
2.9%
n Net assets released from restrictions
8,238,981
2.5%
Total
Endowment Overview
$324,688,535 100.0%
Unrestricted Results for the Year The Statements of Activities include results from both operating and non-operating changes. The total increase in unrestricted net assets of $8.2 million consisted of an operating surplus of $2.1 million and a non-operating surplus of $6.1 million (compared to unrestricted operating surplus of $1.5 million and non-operating deficit of $17.1 million, in the prior year). Operating activities include all revenues and expenses that support current year teaching, research, student services, and other University priorities. Pace’s $2.1 million unrestricted operating surplus in FY13 resulted from increases in net tuition and fees and related auxiliary revenues, offset by decreases in government grants and contracts, state appropriations and contributions, and increases in salaries and benefits, and rent costs. Overall, unrestricted operating revenues totaled $324.7 million in FY13. The revenue distribution was from tuition and fees (76%), auxiliary enterprises
Leadership Report | 2012-2013
(15%), government grants and contracts (3%), and other (6%). Unrestricted operating expenses totaled $322.5 million, with components of the total including instructional expenses (39%), research (1%), academic support (14%), student services (13%), institutional support (17%), and auxiliary enterprises (16%). The $6.1 million positive unrestricted non-operating results in FY13 were significantly benefited by the effect of the increase in interest rates during FY13 on the University’s postretirement health benefits obligation and the fair value of the interest rate swap, offset by decreases due to losses on early retirement of bonds and storm damage.
Temporarily and Permanently Restricted Results for the Year Temporarily restricted net assets increased $11.9 million during FY13 as $13.3 million in investment return and $6.8 million in contributions revenue was offset by $8.2 million release from restriction. The $0.1 million increase in permanently restricted net assets reflects new FY13 endowments.
Operating Expenses by Function
Culminating an extensive benchmarking and strategic planning process, a comprehensive master site plan was developed that will consolidate the Briarcliff and Pleasantville locations. The plan is designed to increase residence hall capacity to match demand and bring facilities up to standards that will make Pace more competitive with peer and aspirational universities. In May 2013 the Board of Trustees voted to move forward with the project. Site plan approval for the first phase of the Master Site Plan was received in June 2013. Construction began in fall 2013. A comprehensive master site plan for the New York City Campus was also developed. The main goals of the master site plan for New York are: n Design attractive aesthetic improvements to the exterior of the campus to further its programmatic goals n Provide for growth in the Dyson College of Arts and Sciences in a prominent and distinct facility n Provide for growth in the Lubin School of Business in a prominent and distinct facility
Operating Expenses by Natural Classification
Fiscal Year Ended June 30, 2013
n Instruction
Master Plan and Capital Projects
Fiscal Year Ended June 30, 2013
$125,412,697
38.9%
n Salaries
$143,942,023 45%
3,999,298
1.2%
n Benefits
54,132,235 17%
n Academic support
46,439,128
14.4%
n Supplies and services
53,132,202 16%
n Student services
42,058,739
13.0%
n Utilities and plant contracts
55,648,686 17%
n Institutional support
54,690,550
17.0%
n Interest expense on long-term debt
n Auxiliary enterprises
49,940,888
15.5%
n Depreciation and amortization
$322,541,300
100.0%
n Research
Total
Total
5,125,681 2% 10,560,473 3%
$322,541,300 100%
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Leadership Report | 2012-2013
STUDENT ENROLLMENT
n Create
Statistics for fall 2013 University wide enrollment
12,624
Undergraduate enrollment
8,289
Graduate enrollment
4,335
Enrollment by campus New York City
8,207
Pleasantville/Briarcliff
3,361
White Plains
1,056
Enrollment by gender* Percentage of females
61%
Percentage of males
39%
Ethnicity* White, non-Hispanic
46%
Hispanic
13%
African American
11%
Asian Nonresident alien
9% 12%
Unknown
6%
Multi
3%
Sponsored Project Overview
Undergraduate enrollment by school College of Health Professions
501
Dyson College of Arts and Sciences
3,852
Lubin School of Business
2,806
School of Education Seidenberg School of Computer Science and Information Systems Other
163 79 388**
Graduate enrollment by school College of Health Professions
615
Dyson College of Arts and Sciences
789
Law School
590
Lubin School of Business
1,280
School of Education
627
Seidenberg School of Computer Science and Information Systems
434
*
Includes both undergraduate and graduate students. Students not affiliated with a particular college or school. Includes ELI.
**
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a vibrant Welcome and Student Center within Enrollment Management and the Office of Student Assistance n House all residential students within walking distance of One Pace Plaza The new residence halls at 182 Broadway and 33 Beekman, the new Performing Arts building at 140 William Street, and the renovated courtyard are the first steps in implementing the New York City Master Plan. The residence hall projects are being funded through residence hall revenue. The 140 William Street renovations were funded by a grant given to the University by the Lower Manhattan Development Corporation, University funds, and landlord concessions. The master plans for the New York City and Pleasantville campuses envision very compelling and exciting changes for the face of Pace. The impact of these efforts will be felt at all levels of the University, including attracting more students, improving the student experience, and executing our educational mission.
During FY13, Pace received a total of 89 awards, totaling $10.9 million. The School of Education received 7 awards totaling $3.6 million including the third year of a $1.5 million five-year grant from the U.S. Department of Education’s Office of Special Education Division, the largest grant ever received by School of Education faculty. The School of Law received 39 grants totaling $2.7 million, the largest of which supports Civil Legal Services for the Family Court Legal Program. Dyson College of Arts and Sciences received 13 grants totaling $1.29 million including a noteworthy grant from the National Science Foundation to develop a year-long research-based laboratory integrated core Genetics and Molecular Biology course. The Seidenberg School of Computer Science and Information Systems received 14 awards for a total of $1.13 million, among these the renewal of the Department of Defense program providing tuition and scholarships for training of future information assurance specialists.
Leadership Report | 2012-2013
STUDENT FINANCIAL ASSISTANCE Year Ending June 30, 2013 University Funds
2012-2013
2011–2012
University Scholarships and Grants
$ 138,916,472
$ 129,590,896
Staff Scholarships
$
6,919,273
$
6,603,273
Scholarships from Outside Sources
$
2,185,438
$
1,950,337
Total
$ 148,021,183
$ 138,144,506
Federal Grant Funds Pell Grants/Federal Supplemental Educational Opportunity Grants (FSEOG)
$
14,559,857
$
14,110,051
Veterans Benefits
$
4,828,729
$
4,028,909
Other Federal Grants
$
161,399
$
315,241
Total
$ 19,549,985
$
18,454,201
New York State Grant Funds Tuition Assistance Program (TAP) and other New York State Scholarships and Grants
$
7,347,567
$
7,278,358
Aid to Part-Time Students (APTS)
$
28,000
$
39,000
Total
$
7,375,567
$
7,317,358
Loan and Work Study Funds Federal Direct Student Loans (FDLP)
$ 120,478,276
$ 124,099,338
Federal Perkins Loans and Nursing Loans
$
$
Other Loans (non-Federal)
$ 17,312,304
$ 13,962,050
Federal Work Study
$
$
Total
$ 141,167,245
$ 141,555,960
Total Student Financial Assistance
$ 316,113,980
$ 305,472,025
2,188,652
1,188,013
2,196,404
1,298,168
Sources of Student Financial Assistance Our students received more than $316 million in financial assistance toward Pace University degrees during the 2012-2013 academic year. Sources include the federal government in the form of Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), Federal Work Study (FWS), Federal Direct Student Loans (FDLP), the Federal Perkins Loan program, and other federal aid programs, including Veterans Benefits. New York
State supports our students through programs such as the Tuition Assistance program (TAP) and Aid for Part-Time Students (APTS). In addition to these vast resources, the University contributes its own resources from private gifts and grants it has received, through tuition waivers, as well as from its own operating funds. The schedule above reflects student assistance activity based on the past two financial aid award years.
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Leadership Report | 2012-2013
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Leadership Report | 2012-2013
Pace Leadership Pace University Board of Trustees Photeine Anagnostopoulos Senior Adviser Commissioner of Education for New Jersey Mark M. Besca ’81 Chairman Pace Board of Trustees NYC Office Managing Partner Ernst & Young, LLP Aniello A. Bianco ’61 Chairman Emeritus Philip F. Bleser ’84, ’94 Managing Director and CEO Global Corporate Bank in North America J.P. Morgan Securities LLC Christopher A. Edwards ’95 Deputy Attorney General Assistant Chief, Transportation, Construction and Condemnation Section N.J. Department of Law and Public Safety
John T. O’Connor, Esq. ’86 Partner Hunton & Williams LLP Michael O’Reilly ’71 David J. Pecker ’72 Chairman and Chief Executive Officer American Media, Inc. Rev. Barbara Ann Porceddu ’74 Interfaith Minister Thomas J. Quinlan III ’85 President and Chief Executive Officer RR Donnelley Maria Fiorini Ramirez, ’72 President and Chief Executive Officer Maria Fiorini Ramirez, Inc. Carol Raphael Retired President and Chief Executive Officer The Visiting Nurse Service of New York
Stephen J. Friedman President Pace University
Jack J. Ribeiro ’78 Global Managing Partner Financial Services Industry Deloitte LLP
John A. Gerson ’69 Senior Managing Director and Chief Financial Officer Paladin Realty Partners, LLC
Joseph F. Ryan, PhD Professor of Criminal Justice and Sociology Pace University
Cynthia Greer Goldstein ’77, ’81 Tax Attorney, CPA Law Offices of Cynthia Greer Goldstein
Jack L. Salzman ’68 Senior Managing Partner Kings Point Capital Management, LLC
Barry M. Gosin Chief Executive Officer Newmark Grubb Knight Frank Bridget-Anne Hampden ’79 Deputy CIO, Federal Student Aid U.S. Department of Education James E. Healey ’64 Retired Chief Financial Officer Nabisco, Inc. Charles N. Jordan Jr. President and Chief Executive Officer Charles Jordan and Co., LLC Harold O. Levy Managing Director Palm Ventures, LLC Suresh Munshani ’89 Edward F. Murphy ’74 Retired Executive Vice President Federal Reserve Bank of New York
Ivan G. Seidenberg ’81 Retired Chairman and Chief Executive Officer Verizon Communications Advisory Partner, Perella Weinberg Partners Marie J. Toulantis ’81 Susan S. Wallach Richard F. Zannino ’84 Managing Director CCMP Capital Advisors, LLC
Trustee Emeriti Donald L. Boudreau ‘70 E. Virgil Conway Chairman Rittenhouse Advisors C. Gerald Goldsmith Alfred R. Goldstein
Charles F. Jacey Jr. ’57 Anthony J. Marano, MD Ian McDougall ’54 Retired Vice Chairman and CFO INCO Limited
Victor Goldsmith Associate Provost Sponsored Research and Economic Development
Henry G. Miller, Esq. Senior Member Clark, Gagliardi and Miller, P.C.
Amar Gupta, PhD Dean, Seidenberg School of Computer Science and Information Systems
Edward J. Noha ’51 Chairman Emeritus CNA Financial Corporation
Cindy Heilberger Chief of Staff, Special Assistant to the Board of Trustees
Carl H. Pforzheimer III Chairman Emeritus Managing Partner Carl H. Pforzheimer & Co., LLC
Nira Herrmann, PhD Dean, Dyson College of Arts and Sciences
Hal J. Upbin ’61 Chairman Emeritus Kellwood Company
Robert G.M. Keating Vice President for Strategic Initiatives
Charles J. Urstadt Chairman and Chief Executive Officer Urstadt Biddle Properties, Inc.
Frank McDonald Associate Vice President for General Services
J. Fred Weintz Jr. BCRS Associates, LLC Ivor A. Whitson ’68 Chairman and Chief Executive Officer The Whitson Group Inc.
Senior Administration Stephen J. Friedman President Robert C. Almon Executive Vice President, Chief Financial Officer Lisa Bardill Moscaritolo, PhD Dean for Students Jennifer Bernstein Vice President for Development and Alumni Relations Neil S. Braun Dean, Lubin School of Business Stephen Brodsky University Counsel Christopher Elarde Assistant Vice President for Information Technology Services and Interim Chief Information Officer Harriet R. Feldman, PhD Dean, College of Health Professions Elizabeth Garti Associate Vice President for Human Resources
William McGrath Senior Vice President and COO for the Westchester Campuses Matt Renna Associate Vice President for Human Resources Marijo Russell-O’Grady, PhD Dean for Students Robina C. Schepp Vice President for Enrollment and Placement Peter Sikowitz Associate Vice President University Relations Andrea (Penny) M. Spencer, PhD Dean, School of Education Uday Sukhatme, ScD Provost and Executive Vice President for Academic Affairs Heather Truscinski Associate Vice President Development and Alumni Relations Frederica N. Wald Vice President and Chief Marketing Officer for University Relations Adelia Williams, PhD Associate Provost for Academic Affairs David Yassky Dean, School of Law
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