For those Valpo Fans that are not able to attend Homecoming and the kickoff of the Forever Valpo fundraising campaign, could those in attendance that contribute to this forum fill us in on the details as they are announced on September 23, 2016? For example, what are the financial goals, how much has been committed to date, what are the plans for the funds (endowment/projects/new construction), timeframe, campaign leaders, etc. Hopefully, this is a campaign everyone can get behind and support!
What they did to the ARC for last nights kickoff was incredible! I was blown away, as were many others who were walking in. The band was great, the five speakers did a fine job, and it seemed like everyone inside had a fantastic time. (It did get pretty warm in there, bows the time to pounce on fundraising for some AC!) great start on the $250m trail. They announced that $135+m had already been raised!
Best event, and best atmosphere (outside a big game) I've experienced at Valpo! Well done to those in charge!
I looked online and it appears that Bare Naked Ladiies charges $150,000 for a concert!
Nice write-up in the local paper.
http://www.nwitimes.com/news/education/valparaiso-university-unveils-m-endowment-campaign/article_ddbaa5b3-c988-56b9-827b-4d8bb9c066c5.html
http://www.valpo.edu/forevervalpo/video/
Turn up the volume, grab a tissue, and prepare for a few goosebumps.
Very well done. Great message. As an aside, this is a Fan Forum, so I feel comfortable also saying that in addition to all the other wonderful images in that film, I was pleased to see so many shots of our athletic teams in action. To me that shows that those in leadership do see a place for athletics in the grand scheme of things.
Quote from: M on September 24, 2016, 02:09:55 PM
What they did to the ARC for last nights kickoff was incredible! I was blown away, as were many others who were walking in. The band was great, the five speakers did a fine job, and it seemed like everyone inside had a fantastic time. (It did get pretty warm in there, bows the time to pounce on fundraising for some AC!) great start on the $250m trail. They announced that $135+m had already been raised!
Best event, and best atmosphere (outside a big game) I've experienced at Valpo! Well done to those in charge!
I believe there was a mechanical issue with the AC at the R. The AC units were never installed. :o
(https://mgtvwncn.files.wordpress.com/2016/07/clayton-daycare-ac-units.png?w=600)
Wow, that is some impressive energy.
For athletics, I think I saw that Paul Schrage endowed the basketball recruiting budget.
One great way to ensure protect Division 1 status and guaranteed excellence is to give a named full scholarship for basketball players. I didn't look at the menu of costs. I would guess a $1,000,000+ gift is needed to spin off an annual amount for full tuition and expenses for one student/player.....maybe even $1.5 million? Just know I am not in that category. ;D
I'm wondering how well the Forever Valpo Campaign is moving along. The website hasn't been updated in some time. No new pictures and national gathering have happened in Las Vegas on November 22, Phoenix on November 27 and in Milwaukee on February 2. The last significant gift announced was on October 10 with a $1.4 million gift to the College of Business. The last I heard the goal of $250 million was at $135 million. Is the drive running on fumes?? ???
I haven't heard anything either positive or negative. I do know that some focus has been to prepare to role out some new programs. Specifically the new aviation program they just announced. The University is also in the process of revising the strategic plan and working on their re-accreditation process so that might be the focus right now
At the Milwaukee pre-game event President Heckler announced that the drive has surpassed $150 million. He also noted that a 3X matching funds donation program is now underway (someone is matching every dollar with 3) up to a certain amount but I didn't catch the figure (because of the ahs and ohs I heard, I'm guessing it was quite significant - million?).
He also talked about the three elements of the endowment program: scholarships, faculty salaries, and new academic programs. The campaign is due to end some time this year I think.
... then it's time to kick off the AFI Campaign. :thumbsup:
The Athletic Facilities Improvement campaign ::)
Good to hear it is wrapping up already. Keep us posted on the AFI.
Can we get a 3:1 from a big donor to jolt an AFI? Maybe that 3:1 was offered in a mailing before Christmas.....I can't recall. Others hear of it?
Quote from: crusadermoe on February 05, 2017, 06:04:57 PM
Good to hear it is wrapping up already. Keep us posted on the AFI.
Can we get a 3:1 from a big donor to jolt an AFI? Maybe that 3:1 was offered in a mailing before Christmas.....I can't recall. Others hear of it?
Ah, if only there was one :(
Hey '72, you asked if the Forever campaign was "running on fumes." Not sure if the replies that were posted really got any firm numbers.
http://www.insideindianabusiness.com/story/35005271/valpo-writing-center-to-bear-name-of-supporter?platform=hootsuite
This article mentions some new endowments and the last sentence reports that over 150 million of the 250 million goal has been raised. Not sure how much of that is just what is made public vs how much of that is accurate. Seems like we may have hit a bit of a stall out but I've also not heard any rumors of concern about it either.
Quote from: crusader05 on March 27, 2017, 01:02:27 PM
http://www.insideindianabusiness.com/story/35005271/valpo-writing-center-to-bear-name-of-supporter?platform=hootsuite
1
This article mentions some new endowments and the last sentence reports that over 150 million of the 250 million goal has been raised. Not sure how much of that is just what is made public vs how much of that is accurate. Seems like we may have hit a bit of a stall out but I've also not heard any rumors of concern about it either.
This is a new gift and the article actually says "152 of 250"! A big event is coming up in New York City where about 100 have already registered and where Ginger Zee will be the featured speaker. I also remember something about a 3 for 1 matching gift which I don't think has been announced or promoted as of now. It may have been mentioned in an athletic release. 62 may have a better memory on this.
That's good. I find It hard to believe we're still a little under 100 Million shy of our goal so my guess is that there are a lot of as yet unannounced gifts, matching drives, or things in the works. I have heard of 2 different funds/projects in the works that have yet to be announced as well so I feel like that is hopefully a good sign.
[quote
This article mentions some new endowments and the last sentence reports that over 150 million of the 250 million goal has been raised. Not sure how much of that is just what is made public vs how much of that is accurate. Seems like we may have hit a bit of a stall out but I've also not heard any rumors of concern about it either.
[/quote]
Unreal that the university has raised $150million but wouldn't spend $5000 so that our basketball team could have a proper shoot around before the conference tournament. A very sad and not so subtle reminder of where basketball is on the university totem pole.... And don't even get me started on how we messed up a chance at the MVC four years ago and the Jubril fiasco this year.
I thought the coach nixed the shoot around but not sure. Also, I don't know what you mean regarding the Jubril situation but from what I've heard the university spent quite a bit of money fighting for Jubril with the NCAA
Quote from: Crusader99 on March 27, 2017, 05:47:33 PMUnreal that the university has raised $150million but wouldn't spend $5000 so that our basketball team could have a proper shoot around before the conference tournament. A very sad and not so subtle reminder of where basketball is on the university totem pole.... And don't even get me started on how we messed up a chance at the MVC four years ago and the Jubril fiasco this year.
These statements about the "proper shoot around" at the Joe in Detroit and the Jubril situation are simply untrue. The one most responsible for the Jubril situation is Jubril himself. I didn't agree with the NCAA decision on Jubril but it was Jubril that put himself in that situation.
Quote from: bbtds on March 28, 2017, 07:06:46 PM
Quote from: Crusader99 on March 27, 2017, 05:47:33 PMUnreal that the university has raised $150million but wouldn't spend $5000 so that our basketball team could have a proper shoot around before the conference tournament. A very sad and not so subtle reminder of where basketball is on the university totem pole.... And don't even get me started on how we messed up a chance at the MVC four years ago and the Jubril fiasco this year.
These statements about the "proper shoot around" at the Joe in Detroit and the Jubril situation are simply untrue. The one most responsible for the Jubril situation is Jubril himself. I didn't agree with the NCAA decision on Jubril but it was Jubril that put himself in that situation.
It is fair of you to say that Jubril put himself in that situation. My point, paralleling my point with the shoot around, is that the school made a bad decision on how to handle the Jubril situation. The ncaa should have never been involved and the school should have decided a proper punishment on their own (just like the big boy schools try and do). If ncaa has a problem with it, they can then let the school know.
As for the shoot around, that statement I made is fact. Everyone is kidding themselves if they think the coaching staff told the university that they didn't want a shoot around at JLA after what happened last year. There is zero chance this staff didn't want a shoot around.
As for the Valley, maybe we get lucky if WSU leaves and they come back to is. They wanted us previously and made that clear. There was one strong condition set upon Valpo, "invest in the program with reasonable changes to the ARC." Valpo wouldn't commit to that, so they moved on to Loyola. So again, until the school prioritizes basketball, these are the discussions we will have.
Quote from: Crusader99 on March 28, 2017, 09:54:23 PMIt is fair of you to say that Jubril put himself in that situation. My point, paralleling my point with the shoot around, is that the school made a bad decision on how to handle the Jubril situation. The ncaa should have never been involved and the school should have decided a proper punishment on their own (just like the big boy schools try and do). If ncaa has a problem with it, they can then let the school know.
You think Valpo went to the NCAA and asked them to get involved?
Valpo self reported the violation because that is part of the rules for being an NCAA member. Valpo decided on a punishment that the NCAA in the end decided was not harsh enough and the NCAA changed the punishment. I'll guarantee you Valpo never wanted the NCAA involved in the situation at all. How did Valpo mishandle the Jubril situation?
Quote from: Crusader99 on March 28, 2017, 09:54:23 PM
Quote from: bbtds on March 28, 2017, 07:06:46 PM
Quote from: Crusader99 on March 27, 2017, 05:47:33 PMUnreal that the university has raised $150million but wouldn't spend $5000 so that our basketball team could have a proper shoot around before the conference tournament. A very sad and not so subtle reminder of where basketball is on the university totem pole.... And don't even get me started on how we messed up a chance at the MVC four years ago and the Jubril fiasco this year.
These statements about the "proper shoot around" at the Joe in Detroit and the Jubril situation are simply untrue. The one most responsible for the Jubril situation is Jubril himself. I didn't agree with the NCAA decision on Jubril but it was Jubril that put himself in that situation.
It is fair of you to say that Jubril put himself in that situation. My point, paralleling my point with the shoot around, is that the school made a bad decision on how to handle the Jubril situation. The ncaa should have never been involved and the school should have decided a proper punishment on their own (just like the big boy schools try and do). If ncaa has a problem with it, they can then let the school know.
As for the shoot around, that statement I made is fact. Everyone is kidding themselves if they think the coaching staff told the university that they didn't want a shoot around at JLA after what happened last year. There is zero chance this staff didn't want a shoot around.
As for the Valley, maybe we get lucky if WSU leaves and they come back to is. They wanted us previously and made that clear. There was one strong condition set upon Valpo, "invest in the program with reasonable changes to the ARC." Valpo wouldn't commit to that, so they moved on to Loyola. So again, until the school prioritizes basketball, these are the discussions we will have.
Wow! I had zero idea you were part of the Administration or at a minimum part of the AD office. We will take your posts much more seriously now that we know.
Quote from: crusader05 on March 28, 2017, 08:41:08 AM
I thought the coach nixed the shoot around but not sure. Also, I don't know what you mean regarding the Jubril situation but from what I've heard the university spent quite a bit of money fighting for Jubril with the NCAA
Both Lottich and Gore complained about it in their postgame comments, so I'm guessing they weren't the ones who nixed it. I'm more perplexed by the subtext I infer from ML's interview that seems to blame this on the HL.
Quote from: StlVUFan on April 01, 2017, 03:22:38 PM
Quote from: crusader05 on March 28, 2017, 08:41:08 AM
I thought the coach nixed the shoot around but not sure. Also, I don't know what you mean regarding the Jubril situation but from what I've heard the university spent quite a bit of money fighting for Jubril with the NCAA
Both Lottich and Gore complained about it in their postgame comments, so I'm guessing they weren't the ones who nixed it. I'm more perplexed by the subtext I infer from ML's interview that seems to blame this on the HL.
My take on this comes more from a coaching standpoint. A 20 minute shooting session 36 hours before a playoff game doesn't really cut it for me. I doubt that it would have much if any positive effect on performance. I agree with ML that the teams should get practice time (I am not talking the 20 minute variety here) on the court preferably the day of the game and that more needs to be done in order for the teams, that don't play in the opening round, to be comfortable on the court.
Quote from: FWalum on April 03, 2017, 09:20:10 AM
Quote from: StlVUFan on April 01, 2017, 03:22:38 PM
Quote from: crusader05 on March 28, 2017, 08:41:08 AM
I thought the coach nixed the shoot around but not sure. Also, I don't know what you mean regarding the Jubril situation but from what I've heard the university spent quite a bit of money fighting for Jubril with the NCAA
Both Lottich and Gore complained about it in their postgame comments, so I'm guessing they weren't the ones who nixed it. I'm more perplexed by the subtext I infer from ML's interview that seems to blame this on the HL.
My take on this comes more from a coaching standpoint. A 20 minute shooting session 36 hours before a playoff game doesn't really cut it for me. I doubt that it would have much if any positive effect on performance. I agree with ML that the teams should get practice time (I am not talking the 20 minute variety here) on the court preferably the day of the game and that more needs to be done in order for the teams, that don't play in the opening round, to be comfortable on the court.
Spot on. Before a practice or a game the players need to stretch and gradually get limber -- that takes 20 minutes alone - and only a small portion of that might be able to be done in the locker room. To expect players to be loose and muscles warm at the start of the 20 minute "practice period" is ridiculous. Even if they start shooting right away, cold, it will take the 20 minutes alone just to get into some sort of shooting rhythm and by then it's over. Each player can't even cover all of the shooting spots and angles (and at
both ends of the court) in that time much less shoot 20-25 FTs against both backdrops.
Looks like we have confirmation of another donation and what it's funding from the current Campagin
http://www.valpo.edu/news/2017/04/18/valparaiso-university-establishes-innovation-hub/
I love seeing new experiences/opportunities brought in and also love to see The University expanding it's foot print allbeit slightly. In my head I imagine a future where Laporte and Linconlway feels like a real extentsion of the college both through campus buildings/apart, restaurants that appeal to college kids and *gasp* maybe even a bar!
For those that remember the rundown parts of Laporte Ave with The Big Wheel and scary apartments, it's been nice to see it mesh more with both downtown and the university. They are even adding a new yoga and juice bar right across the street from campus which will hopefully do well!
Quote from: crusader05 on April 18, 2017, 01:24:14 PM
Looks like we have confirmation of another donation and what it's funding from the current Campagin
http://www.valpo.edu/news/2017/04/18/valparaiso-university-establishes-innovation-hub/
I love seeing new experiences/opportunities brought in and also love to see The University expanding it's foot print allbeit slightly. In my head I imagine a future where Laporte and Linconlway feels like a real extentsion of the college both through campus buildings/apart, restaurants that appeal to college kids and *gasp* maybe even a bar!
For those that remember the rundown parts of Laporte Ave with The Big Wheel and scary apartments, it's been nice to see it mesh more with both downtown and the university. They are even adding a new yoga and juice bar right across the street from campus which will hopefully do well!
Hey! The Wheel will always have a special place in many hearts as it was one of the "finer" dining opportunities around campus!
Quote from: vu72 on April 18, 2017, 02:48:27 PM
Quote from: crusader05 on April 18, 2017, 01:24:14 PM
Looks like we have confirmation of another donation and what it's funding from the current Campagin
http://www.valpo.edu/news/2017/04/18/valparaiso-university-establishes-innovation-hub/
I love seeing new experiences/opportunities brought in and also love to see The University expanding it's foot print allbeit slightly. In my head I imagine a future where Laporte and Linconlway feels like a real extentsion of the college both through campus buildings/apart, restaurants that appeal to college kids and *gasp* maybe even a bar!
For those that remember the rundown parts of Laporte Ave with The Big Wheel and scary apartments, it's been nice to see it mesh more with both downtown and the university. They are even adding a new yoga and juice bar right across the street from campus which will hopefully do well!
Hey! The Wheel will always have a special place in many hearts as it was one of the "finer" dining opportunities around campus!
Ah yes, my first coffee date!
Good to see a gift to the campaign announced April 18. I was also wondering where the campaign was going next. $150 million plus ? to date?
BTW, this Thursday is the annual Proud to be Valpo drive. Everybody please throw a few bucks Valpo's way. In light of a possible move to the MVC Valpo needs all of the bucks it can raise.
Valpo Day of Giving is underway! The Helges are matching any gift of a thousand or more 3X, and that includes gifts to athletics! Any gift of less than 1000 is also matched 1 for 1. Dig deep for Valpo athletics!!
Quote from: vu72 on May 04, 2017, 01:00:20 PM
Valpo Day of Giving is underway! The Helges are matching any gift of a thousand or more 3X, and that includes gifts to athletics! Any gift of less than 1000 is also matched 1 for 1. Dig deep for Valpo athletics!!
This needs to stay up so everyone notices!!
Quote from: vu72 on May 04, 2017, 01:52:12 PM
Quote from: vu72 on May 04, 2017, 01:00:20 PM
Valpo Day of Giving is underway! The Helges are matching any gift of a thousand or more 3X, and that includes gifts to athletics! Any gift of less than 1000 is also matched 1 for 1. Dig deep for Valpo athletics!!
This needs to stay up so everyone notices!!
WOULD BE WAY EASIER TO CONTRIBUTE TO A CAUSE RATHER THAN BROAD STROKES.
#1 hurdle to fund raising is hazy goals and hazy directives.
i.e 97% of your donation goes to CHAIRBACK BLEACHERS BEHIND TEAM BENCHES....sign me up!!!
I certainly am no fund raising expert but I am wondering whether or not the drive has hit a wall. At Homecoming, when the drive was announced, we were told that they already had commitments for $135 million. As of now, 8 months later, the published number is $154,080,616. So 61.6% of the way there. I would guess the Day of Giving will add another 1 million.
$96 million is a lot of money folks. Just wondering if anyone has an idea how long this is expected to stay active and, based on current results and time, are we on track, behind, ahead??
I was told that 1 day before the ending date of the Campaign they were only a few thousand $$ short of the goal???
Why does it take so long for the university to announce the results of the Proud To Be Valpo fundraising day? Here it's almost 10 days later and still no information. They try to generate excitement to solicit donations and then don't let people know how the fundraiser went. The PR folks have messed this one up.
Quote from: sfnmman on May 12, 2017, 03:58:25 PM
Why does it take so long for the university to announce the results of the Proud To Be Valpo fundraising day? Here it's almost 10 days later and still no information. They try to generate excitement to solicit donations and then don't let people know how the fundraiser went. The PR folks have messed this one up.
Some of it may have to do with pledges that haven't been finalized yet. I know I'm pledging $35, but haven't fulfilled that yet. A projection of how much was raised would be good, but it doesn't seem like Valpo's style, since the government isn't forcing their hand like they do with state schools.
It looks like Valpo raised $723k during the 'Proud to be Valpo' day. A new record!
Quote from: valpotx on May 15, 2017, 05:24:41 PM
It looks like Valpo raised $723k during the 'Proud to be Valpo' day. A new record!
Do you have a website?
You should have received an email if you donated, and it is also listed at:
http://www.valpo.edu/forevervalpo/proud-to-be-valpo/
Quote from: valpotx on May 16, 2017, 06:55:20 AM
You should have received an email if you donated, and it is also listed at:
http://www.valpo.edu/forevervalpo/proud-to-be-valpo/
I guess I shouldn't ignore all those e-mails. :-[
From the email,
We raised an incredible $723,007 (the largest total in Valpo history!) from 2,502 amazing donors. (BTW, does anyone know the previous record?)
Of this number, we had 372 members of the classes of 2006-2016 make a gift.
I found this a bit interesting: The email emphasized the gifts of the classes from 2006-16. That's ten years and that comes to an average of 37.2 gifts per class. Only 37.2 per class. Granted, these are young graduates, many with school loans to pay off and such, but one would think that even a small $25 gift for this annual campaign that has a pretty high profile, still gets those class' %ages up.
Found it!
Forever Valpo
Thank You! Proud to be Valpo
XXXXXXXX, it was truly inspiring to see our generous community come together for Valparaiso University's fourth annual Day of Giving, Proud to be Valpo! We hope you'll take a moment to watch the video below and enjoy some of our favorite moments from this year's event ...
Still frame from thank you video
We raised an incredible $723,007 (the largest total in Valpo history!) from 2,502 amazing donors.
Of this number, we had 372 members of the classes of 2006-2016 make a gift. And the Athletics, Greek, and Guild Challenges also inspired our participants to make a difference:
Athletics:
Most total donors: Football
Highest alumni percentage: Men's Tennis
Most new donors: Men's Golf and Women's Softball
Greek:
Fraternity: Highest percentage participating: Phi Mu Alpha Sinfonia
Sorority: Highest percentage participating: Gamma Phi Beta
The Guild raised $50,000.
Plus, during all of this excitement, there were 3,375 thank yous written to donors from current students at Valpo's annual Thank-A-Thon.
And even though the Day of Giving is over, it's never too late to make a difference for our current and future students. If you'd like to make a gift now, please visit our secure site. Your gift will provide opportunities for Valpo students that will change lives in immeasurable ways, including scholarships, experiential programs such as Study Abroad, and life-changing academic experiences.
That's what Forever Valpo: The Campaign for Our Future is all about. Please enjoy the inspiring video above, and thank you for staying connected to our incredible University.
With gratitude,
Your friends at Valparaiso University
Photo montage of students thanking donors on Proud to be Valpo day
Valparaiso University
Valparaiso University Advancement
1100 Campus Drive South, Valparaiso, IN 46383-4512
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Quote from: VULB#62 on May 16, 2017, 08:57:17 AM
From the email,
We raised an incredible $723,007 (the largest total in Valpo history!) from 2,502 amazing donors. (BTW, does anyone know the previous record?)
Of this number, we had 372 members of the classes of 2006-2016 make a gift.
I found this a bit interesting: The email emphasized the gifts of the classes from 2006-16. That's ten years and that comes to an average of 37.2 gifts per class. Only 37.2 per class. Granted, these are young graduates, many with school loans to pay off and such, but one would think that even a small $25 gift for this annual campaign that has a pretty high profile, still gets those class' %ages up.
$637,440 http://www.valpo.edu/valpomag/2016/06/24/day-of-giving-raises-637440/
I also received the below email, specific to Valpo Athletics. I always give only to Valpo Baseball :).
Dear friends,
The numbers are in, and it is my pleasure to announce the results of the highest performing Day of Giving in Valpo Athletics history. I am so thankful to the alumni, parents and friends that rallied behind our teams and came together in celebration of our Valpo student-athletes and coaches. Your enthusiasm helps us continue to foster an environment of support and inspiration for our students, and your generosity directly impacts their lives each day.
With our athletics programs pitted against each other in three main competitions – total number of participants, highest alumni giving percentage, and most new donors – $15,000 in bonus funds provided by Leroy Schramm '66 and Anne Bowman '77 J.D. were awarded to the following four teams:
1. $5,000- Highest % of former athletes participating: Men's Tennis (14.8%)
2. $5,000- Highest number of total participants: Football (94)
3. $2,500 each- Most new donors: Men's Golf and Softball (16)
Congratulations to the winning teams and thank you to everyone who celebrated with us. In all, Valpo Athletics raised just over $78,000 during the event, and nearly doubled last year's donor total (354) with an awe-inspiring 648 total participants. Thank you, again, for showing the world you are Proud to be Valpo by investing in the success of our student-athletes.
Sincerely,
Mark LaBarbera
Director of Athletics
Good work, MLB! And special congrats on being invited to the MVC!!
Let's hope that the "Named full Division I Endowed Athletic Scholarships" section of the FOREVER VALPO campaign will find big donors. Joining the MVC would sure go a long way to ensuring D-1 for decades ahead. We can celebrate that being stated as a public long-term goal. There were years of waffling.
I would guess that maybe you would prefer 4-figures and 5-figure gifts go to current usable funds rather than endowment though, right?
The drive is creeping along, now at $156,215,454 as of May 31. That's up from $154,080,616 that I posted on May 11. Presume this includes the funds raised on The Day of Giving. Still a LONG way from the $250,000,000 Goal.
Would it also include any gifts that helped the Athletic Department to shift to the MVC?
Quote from: VULB#62 on June 12, 2017, 08:40:06 AM
Would it also include any gifts that helped the Athletic Department to shift to the MVC?
Probably not as the drive is endowment based. Those gifts are one and done!
Kinda thought that, but asked anyway.
Good update, VU72. Thanks. Do they have a goal date to reach the target?
It seems like the chapel money was given a really long time ago. And it is counted in the $150m or so to date that you mentioned.
Quote from: crusadermoe on June 12, 2017, 03:50:59 PM
Good update, VU72. Thanks. Do they have a goal date to reach the target?
It seems like the chapel money was given a really long time ago. And it is counted in the $150m or so to date that you mentioned.
I'm pretty sure is is a ways out. It hasn't even been one year since the start. The last campaign, "Our Valpo Our Time" was intended to be completed by
the 150th anniversary which was in 2009. That campaign was started to impart build the new union so was started well before Mark Heckler took the helm. The building was dedicated in 2009 after Mark became president and I found an article saying that the campaign was at 80% when he took over.
As a result, being at over 60% of goal in less than a year seem pretty remarkable but it also seems like the million dollar announcements have dried up. I know the $2 million match which was part of the Day of Giving is continuing at this time.
I echo the previous comments that congratulate mlb on raising money for the athletic departments and the transition to the MVC. Great job!
I do think that raising money for an endowment is quite challenging. While this may well be necessary and the right tactic, it is difficult to get people to donate to something so amorphous. My guess is that more people want to donate to specific things (buildings, scholarships, etc.).
Hey 72, I hate to be the skunk at the garden party.
I found the chapel gift via google (see below paste) and the $15m gift is even longer ago than I thought. They have counted it in the $150m in the totals. so they started in 2011 and have taken six years to raise that total to date. By comparison, Harre and staff raised $230 million in five years.
Maybe that's why this new campaign chose to put "forever" in its campaign title?? :( ??? :snore:
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------
CHAPEL
$15 million gift to help fund chapel improvements
May 4, 2011
ShareThis
One of the largest gifts in Valparaiso University history will ensure the preservation of the Chapel of the Resurrection and enable opportunities for significant enhancement to this enduring symbol of faith.
The $15 million gift from the Rev. Mark and Kathy Helge will support the most critical preservation issues facing the chapel while adding programmatic space and technology to position the chapel for its future.
The Helges have a history of giving to Valparaiso University, having also provided the lead gift for the construction of the new Harre Union building, which opened to campus in January 2009. They now have turned their philanthropic focus to the chapel, where the Helges met as students at Valpo.
"Worshipping and working in the chapel was an integral part of our education at Valpo," Mark Helge said. "Both Kathy and I were members of the chapel staff our senior year."
The Helges are members of the 1971 Valparaiso University graduating class.
I think 84 said it well when mentioning that raising money for endowment is a particularly difficult task. The previous campaign did have an element for the endowment but the union was the primary issue. The $156 mil raised to date also includes the $1 mil donated to finish the track project.
Another $600,000 for endowment for scholarships in athletics. I think it is very good to read what President Heckler said about the need to step it up to be able to compete in The Valley. Great stuff!!
http://www.valpoathletics.com/news/articles/2016-17/17452/endowed-scholarship-established-for-valpo-women-student-athletes/#.WUf0e2grLIU
Quote from: Crusader99 on March 28, 2017, 09:54:23 PMAs for the Valley, maybe we get lucky if WSU leaves and they come back to is. They wanted us previously and made that clear. There was one strong condition set upon Valpo, "invest in the program with reasonable changes to the ARC." Valpo wouldn't commit to that, so they moved on to Loyola. So again, until the school prioritizes basketball, these are the discussions we will have.
Seems to me that the Missouri Valley settled and hopes Valpo invests in it's facilities. All I do is keep hoping too (or hope I win the lottery).
Sounds like you nailed it. But hey, we got to the MVC and due credit to the university leadership.
Nice article about Paul and Jan Schrage and their financial commitment to the basketball program.
http://www.valpo.edu/valpomag/2017/07/16/from-the-happy-meal-to-the-hardwood/
Very good article overall!
Quote from: bbtds on June 19, 2017, 04:47:42 PM
Quote from: Crusader99 on March 28, 2017, 09:54:23 PMAs for the Valley, maybe we get lucky if WSU leaves and they come back to is. They wanted us previously and made that clear. There was one strong condition set upon Valpo, "invest in the program with reasonable changes to the ARC." Valpo wouldn't commit to that, so they moved on to Loyola. So again, until the school prioritizes basketball, these are the discussions we will have.
Seems to me that the Missouri Valley settled and hopes Valpo invests in it's facilities. All I do is keep hoping too (or hope I win the lottery).
I think that if we continually are playing for a chance at the 1 or 2 seed of Arch Madness during the last three games of the MVC season, and provide a good (butts in seats) to tough (at home winning %) environment in ARC MVC games, we will/should be judged on these items.
I'm looking forward to watching games, as I believe that the in game atmosphere of the MVC will be very fun to watch - both at the ARC and on the road.
Got this in an email this morning. Very nice video with many of the accomplishments over the past year. Give it a watch and if you feel inspired like I did click the donate button! http://support.valpo.edu/s/1347/advIndex.aspx?sid=1347&gid=1&pgid=1993 (http://support.valpo.edu/s/1347/advIndex.aspx?sid=1347&gid=1&pgid=1993)
VULB#62 said way back in February that the campaign might reach its end this year. Have you or anyone else heard any updates on the target year to complete it?
Quote from: crusadermoe on October 06, 2017, 11:52:59 AM
VULB#62 said way back in February that the campaign might reach its end this year. Have you or anyone else heard any updates on the target year to complete it?
I'd be surprised if it ended this year. They are north of 160MM but that is only roughly 60% of goal. The last drive ended up at or near 238MM and was running for five years, from 2004-2009. This campaign officially launched only one year ago.
http://www.buildingindiana.com/vu-campaign-raises-238-million/
Yep, that projection was floated at the UWM game alumni reception when people were excited about the quick initial growth toward that $160 million. The drive has slowed since then.
I might be off on these but it seems they kicked off at 2017 homecoming at about $135 million and reached per today's website they reached $162 million.
So they gained roughly $25 million in the 12 months. At that pace they can hit their goal by 2021.
That would reach $250 million in just 10 years of raising money since 2011.
CAMPAIGN PROJECTION - THANKSGIVING 2017
In a November VU news release, Valpo was given an award for graphic design work on its campaign materials. They are impressive.
That November article also mentioned that the campaign had passed the $162 million mark. Our friend VULB#62 said on February 7 that $150 million was reported at the Milwaukee pre-game rally. So $12 million was raised over 9 months between early February and early November. That is an annualized pace of $16 million per year.
At that rate, we would need 5.5 years to raised the $88 million needed to reach the goal of $250 million. On this pace, May 2023 will mark the end.
I wasn't sure where to post this (could be in "Other Sports" because it relates to football). I thought many of us who have known Walt and Lois Reiner would find interest:
Coach, Teacher, and Humanitarian Walt Reiner Honored with Estate Gift
A person's legacy is more than material items or financial gifts, it is how they are remembered and the difference they made to their family, community, and the world.
As a coach, teacher, and humanitarian, Walt Reiner's legacy is strong. Walt joined the faculty of Valpo's physical education department in 1949 and served as co-head coach of the football team from 1957 to 1964.
To ensure Walt's legacy remains strong at Valpo, Don '64 and Karen '65 Soeken have committed a deferred gift through their estate to create the Walt and Lois Reiner Legacy Endowed Scholarship Fund. The fund will provide permanent resources to support student-athletes in the football program pursuing a career in public service or in need of financial assistance.
Although football was his passion, Walt was determined to serve a broader community. President O.P. Kretzmann sensed his passion for public service and asked Walt to launch the Youth Leadership Training Program. Walt's inspired leadership led to his appointment as director of Prince of Peace Volunteers in Chicago and the establishment of Project Neighbors in the Hilltop neighborhood near Valpo's campus.
A self-described "community resource redistributor," Walt is credited with bringing new life to Hilltop - including development of Reiner Community Center.
"I will never forget the spiritual impact Walt's volunteerism had on me, my brother Rich Soeken '67, and other students," Don says. "Somewhere in Heaven Walt is looking down and grinning happily as he salutes everyone who continues to support his community service projects."
Quote from: crusadermoe on November 23, 2017, 07:10:06 PM
CAMPAIGN PROJECTION - THANKSGIVING 2017
In a November VU news release, Valpo was given an award for graphic design work on its campaign materials. They are impressive.
That November article also mentioned that the campaign had passed the $162 million mark. Our friend VULB#62 said on February 7 that $150 million was reported at the Milwaukee pre-game rally. So $12 million was raised over 9 months between early February and early November. That is an annualized pace of $16 million per year.
At that rate, we would need 5.5 years to raised the $88 million needed to reach the goal of $250 million. On this pace, May 2023 will mark the end.
Assuming that the tax reform package gets approved in one of its current forms, there are two aspects of it that may hurt donations.
1. Raising the standard deduction to $24,000 for families, which will reduce smaller donations and have no effect on larger donations. (as a side note, I am very surprised that churches are not screaming about this being in the tax reform package - I would project that this will cause an approximate 10% reduction in donations in churches).
2. Eliminating the estate tax. This only affects a very small percentage of the population, but people who would have paid estate tax will now be more incentivized to pass on assets to their heirs rather than donate to charities.
Quote from: vu84v2 on December 04, 2017, 05:35:13 PM
Quote from: crusadermoe on November 23, 2017, 07:10:06 PM
CAMPAIGN PROJECTION - THANKSGIVING 2017
In a November VU news release, Valpo was given an award for graphic design work on its campaign materials. They are impressive.
That November article also mentioned that the campaign had passed the $162 million mark. Our friend VULB#62 said on February 7 that $150 million was reported at the Milwaukee pre-game rally. So $12 million was raised over 9 months between early February and early November. That is an annualized pace of $16 million per year.
At that rate, we would need 5.5 years to raised the $88 million needed to reach the goal of $250 million. On this pace, May 2023 will mark the end.
Assuming that the tax reform package gets approved in one of its current forms, there are two aspects of it that may hurt donations.
1. Raising the standard deduction to $24,000 for families, which will reduce smaller donations and have no effect on larger donations. (as a side note, I am very surprised that churches are not screaming about this being in the tax reform package - I would project that this will cause an approximate 10% reduction in donations in churches).
2. Eliminating the estate tax. This only affects a very small percentage of the population, but people who would have paid estate tax will now be more incentivized to pass on assets to their heirs rather than donate to charities.
I find this hard to believe though we have never had this situation before where charitable deductions were eliminated. As a giving church member, I never considered the tax benefit, others might. Only 25% of taxpayers itemize to begin with and doubling the standard deduction will knock many more from that category. The added cash in their pocket, to the extent there is any, may do just the opposite and actually free up money for charitable giving. We will find out!
Weekly donations to your congregation will probably not be an issue. It is what we would always do. OTOH, a large donation to, say, ARC expansion might cause second thoughts. Maybe better to hold onto the money and pass it along to the heirs without worrying about inheritance tax.
Quote from: VULB#62 on December 04, 2017, 10:01:02 PM
Weekly donations to your congregation will probably not be an issue. It is what we would always do. OTOH, a large donation to, say, ARC expansion might cause second thoughts. Maybe better to hold onto the money and pass it along to the heirs without worrying about inheritance tax.
There are a lot of questions to be answered--SURPRISE!! One is, for example, if you donate to a charity it may not be deductible but can you avoid the capital gain tax? I doubt it but that may be a consideration/compromise.
Yeah, it's a crazy time -- in many respects.
I am not aware of any changes that prevent you from avoiding capital gains tax when donating to a charity. You can do that now and, to my knowledge, it is still allowed. But I have not read the details of the tax "reform" bills.
I thought that the percentage of people that itemize was closer to 50%, but as VU72 pointed out it is much lower (when I looked it up, it was 30%). Still, your larger base of donors are probably married and/or have higher incomes and thus have more opportunities now to deduct - so that might indicate a stronger effect on donations from a dramatic increase in the standard deduction.
I struggle getting past, for a fair percentage of people, how they will not make the following judgement: Currently, a donation of $10,000 is really a net donation of let's say $7500 because I get to reduce my income by $10,000 and I am at the 25% marginal rate (there is, of course, a different argument of whether the government should essentially be making the $2500 contribution...which in effect they are now). Now I want to make the donation, but with tax reform the $10,000 is really $10,000 out of my pocket. So, while I want to be supportive I am not going to donate $10,000 - but will donate maybe $9000 instead and feel good about myself because I am donating more money out of my own pocket.
VULB#62: most people in churches don't make weekly offerings, they pledge an amount that they will donate for the year and then make payments (sometimes during weekly offerings, but often in other ways) to meet their pledge. Thus, the medium and larger donors to churches are not making a weekly decision of whether to donate a fairly small amount, they are making an annual decision to donate a much larger amount. My guess is that one is more likely to consider whether a contribution is deductible when they are considering a larger amount of money.
As both VU72 and VULB#62 suggest, there are a lot of questions. Do people donate more if taxes are reduced? (you would hope yes, but cynical me suggests that they spend more). Will people realize that tax reform changes their incentives to donate money? (my guess: likely not at first, but over time yes).
I think the new law will NOT effect the large givers who can make big dents in the campaign balance.
If your combination of charitable gifts and property tax exceeds the standard deduction you will still itemize. Even someone who's pay property tax of $5,000, gives $10,000 to church and a combined $10,000 to other charities will surpass the $24,000 standard. For a generous single person it is an even easier call. Don't get me wrong, that would be very generous but these people are not the ones who will drive the big numbers. Bottom line is anyone in the above position or giving more than that will still itemize.
Local universities puzzle over new endowment tax
Formula puts Northwestern, U. of C. on the bubble — but payment might come later
BY DAWN RHODESCHICAGO TRIBUNE
Northwestern University and the University of Chicago may get a reprieve from paying an endowment tax under the new federal tax overhaul, but both could end up shelling out millions in the near future.
Congress passed the tax legislation Wednesday, and President Donald Trump signed it into law Friday.
The legislation imposes a 1.4 percent tax on net investment income at private colleges and universities with more than 500 students and where the market value of endowments equals more than $500,000 per student. At least 50 percent of a school's students must reside in the United States.
That would put University of Chicago and Northwestern right on the bubble. At $7.82 billion and $9.8 billion, respectively, the schools carry a couple of the largest endowments in the country.
The University of Chicago is closer to being tax-eligible because of its smaller enrollment. But exactly where that cutoff lies is open to interpretation. Even the universities are confused.
"We still aren't real clear on whether Northwestern would be affected by the excise tax in the next year or not," said Alan Cubbage, a Northwestern University spokesman.
University of Chicago leaders also do not know whether the tax would hit the South Side university, according to a spokesman, Jeremy Manier, who said unresolved details in the legislation were "making it difficult to assess the bill's full impact."
"The new tax on endowments at certain nonprofit private universities will have a negative effect on the ability of universities to make vital, long-term investments in education and research," he said in a statement.
Still, even if they escape the tax for now, both universities will most likely pay it in the near future — a prospect that even Northwestern acknowledged.
"We are fully anticipating that, if not next year then in later years, that we will be subject to a tax," Cubbage said. "When it occurs, we will pay the tax."
The new tax provision marks a striking shift in how the federal tax code treats the nation's richest universities and their burgeoning endowments.
Endowments are long-term funds that provide sustained support for a university. In many cases, donations to endowments are restricted to specific purposes — such as to fund a professorship, or financial aid — so the money cannot be distributed solely at a university's discretion.
But earnings from an endowment also can provide critical support to a university's annual finances. Endowment dollars were 10.5 percent of University of Chicago's 2016-17 operating budget, according to its annual report.
Historically, university endowments have not been taxed because they are part of a nonprofit entity — the university — that is tax-exempt. But now, university endowments will be levied similarly to how the government taxes private foundations.
The change is expected to generate $1.8 billion in federal revenue over 10 years, according to an analysis by the Joint Committee on Taxation.
To determine eligibility for the tax, the law stipulates dividing the fair market value of the endowment at the end of the preceding tax year by the full-time equivalent enrollment. If that quotient is above $500,000, schools will owe the tax.
That, at least, is the general idea.
Full-time equivalent enrollment counts the raw number of full-time students as well as the number of part-time students whose collective credits add up to a full-time student. It is not the same as student head count and thus is a more fluid metric open to interpretation.
How to calculate an endowment's net assets is vague as well. Liz Clark, senior director of federal affairs for the National Association of College and University Business Officers, said college and university endowments are structured differently from private foundations, so the tabulations also must be distinct.
In both cases, advocates and university officials say, the federal government has much work to do to clarify the parameters of the tax. Abrupt changes to the bill in recent days left experts scrambling to evaluate it, with slightly different results.
For example, the National Association of Independent Colleges and Universities, a Washington-based advocacy group for private institutions, named more than 30 universities that met the requirements for the levy. That list — headed by schools like Princeton, Yale and Harvard — initially did include University of Chicago, but a spokeswoman later said it does not meet the threshold after the Tribune questioned the calculations.
A separate analysis from The Chronicle of Higher Education used a different methodology and also included University of Chicago as one of the schools that would have to pay next year — although just barely.
The University of Chicago's endowment rose from $6.54 billion in 2014 to $7.82 billion as of October. Its full-time equivalent enrollment during that period rose from 14,181 to 15,302, according to university and federal data.
Using the university's 2017 figures, the South Side campus' endowment now equates to $511,044 per student.
Northwestern's endowment spiked from $7.5 billion in 2014 to around $9.8 billion now, according to Cubbage and federal data. The full-time equivalent enrollment during that time rose from 19,153 to about 20,500, Cubbage said.
For now, that puts Northwestern just beneath the minimum threshold for the tax, at $478,000 per student.
The recently passed tax overhaul is hardly the first time legislators have targeted well-endowed universities.
The issue came to the forefront in 2008 when two senators sought information from dozens of schools on how they were managing their endowments. But public dialogue seemed to fizzle once the recession hit and endowments declined.
Legislators revived the conversation in the last couple of years, with a House subcommittee devoting multiple hearings toward examining the issue last fall. The president announced his intention to target college endowments during the election season.
Those discussions largely revolved around the argument that wealthier colleges were generating vast sums of money and devoting comparatively little of it to lowering tuition and easing debt burden on students.
There is national research to support some of those general ideas. Recent studies have showed that several highly selective private schools can afford to admit and provide aid to more low-income students. Others have concluded that the net cost of college — what students pay after all financial aid is considered — still prices out low-income families.
This tax, some counter, does nothing to correct those systemic inequities.
"This is an unprecedented new tax on nonprofit organizations which will diminish resources institutions would have otherwise had available for scholarships, academics, and other mission-related expenses," said Clark, of the university business officers association.
In addition to the endowment levy, the final bill also doubles the standard deduction, which experts say may discourage private donations to universities. Public universities increasingly have pursued private benefactors to support their institutions in the face of diminishing public funding. Advocates also said caps on state and local tax deductions could hurt state budgets and further threaten state support for higher education.
drhodes@chicagotribune.com
Twitter @rhodes_dawn
Valpo only wishes it could be exposed to this new Federal excise tax.
Let's assume Valpo has 4,000 FTE students. To reach that new taxing threshold of $500,000 in endowment per student, you would need a $2.0 billion endowment.
Valpo's endowment is far below $$250 million. And the "biggest campaign ever" in VU history is on pace to raise about $85 million from now through 2023.
Just checked and the Forever Valpo campaign total has been updated to $167,922,758. 67.2% of the goal.
Good to see the increase.
The campaign went public at $135 million raised. At the begiinning of this thread we all joined the excitement about the event and the news article.
Now at $167 million to date on the website you have a gain of $32 million since that public announcemen of Sept
23, 2015. Easy math says $32 million raised over that 16 month period is a pace of $2 million per month..
So the time needed to raise the balance of $83 million is 42 more months. We would celebrate the finish at the projected month of July 2021.
Maybe 2022 brings a focus on athletics?
Quote from: crusadermoe on January 23, 2018, 01:18:28 PMMaybe 2022 brings a focus on athletics?
Which would mean that 2020 was behind us.
Giving appears to have slowed down. Is it too much to hope for a blockbuster gift at this point? Gustavus Adolphus College in Minnesota is also involved in a major capital campaign. In less than a year three alumni couples have pledged gifts of 40, 25, and 10 million dollars. Amazing generosity from alums.
Quote from: crusadermoe on January 23, 2018, 01:18:28 PMGood to see the increase. The campaign went public at $135 million raised. At the begiinning of this thread we all joined the excitement about the event and the news article. Now at $167 million to date on the website you have a gain of $32 million since that public announcemen of Sept 23, 2015. Easy math says $32 million raised over that 16 month period is a pace of $2 million per month.. So the time needed to raise the balance of $83 million is 42 more months. We would celebrate the finish at the projected month of July 2021. Maybe 2022 brings a focus on athletics?
Can our programs wait that long and still keep the momentum going?
That's the $83 million question.....
Quote from: loschwitz on January 25, 2018, 04:49:16 PM
Giving appears to have slowed down.
Well, considering that my wife and I gave a nice amount of money last year and have yet to receive an acknowledgment or thank you from the university, this doesn't really surprise me.
New total in is $169,614,378 which means they have raised $1,691,620 in about the last 45 days. now at 67.8% of target.
Wow, VU72, that's even slower.
At that pace you are moving ahead to goal at just $1m per month. ($1.6 million in 1.5 months aka 45 days). If that pace doesn't increase, the campaign will take 81 more months to meet goal and finish in December 2024. The chapel gift was booked in 2011.
Given that Harre raised $230 million in just five years (2005 to 2009), you wonder how the current guy feels about his pace.
Quote from: crusadermoe on March 21, 2018, 11:37:48 AM
Wow, VU72, that's even slower.
At that pace you are moving ahead to goal at just $1m per month. ($1.6 million in 1.5 months aka 45 days). If that pace doesn't increase, the campaign will take 81 more months to meet goal and finish in December 2024. The chapel gift was booked in 2011.
Given that Harre raised $230 million in just five years (2005 to 2009), you wonder how the current guy feels about his pace.
I would guess Mark Heckler (who became the President in 2008 so was a part of the previous campaign) would acknowledge the slow pace but also be realistic because of its nature and goals. Previous campaigns have had a center piece as follows:
Lighting The Way--The Center For The Arts
Three Goals One Promise--The Library
Our Valpo Our Time--The Union
Forever Valpo: The Campaign for Our Future--Endowment??
It seems like raising funds for a tangible asset like a shiny new building is a lot easier than raising funds for something as nebulous as endowment. You know, "give us your millions and you will be able to clearly see the reaction on the faces of the students when they get a tenth of one percent from the 5% allowed each year". Clearly more challenging but also so very important.
Building on what some other posters said, I think that a big problem with an endowment campaign is that donors have (or have the perception that they have) no discretion on how their donations are ultimately used. My guess is that many people are like my wife and I and have programs, functions or buildings at Valpo that we prefer to donate money towards and programs, functions or buildings that we will not let our donations go towards. Everyone, of course, has different priorities and that is their right. But regardless of their priorities, focusing on the endowment means everyone can get the perception that their donations will go towards things that they don't feel are priorities.
In general, I would argue that universities strongly prioritize getting donations in which the university has sole discretion how the money is used. The Valpo Fund is another example of this. Having dealt with this recently, I would suggest that the drivers for stressing donations in which the donor has no discretion go far beyond University Advancement and involve the University Finance organization and even Federal Tax law. However, I would advise that the UA people at Valpo seem pretty good at working with people and understanding their preferences (but they are still bound by a lot of university policies and some Federal laws).
With all due respect, that is not accurate. Just like the other gifts, endowment gifts can be established to service a particular program or college or whatever cause you are interested in.
It is True that you can set up an Endowment for something particular, like Counseling Services, or scholarships for specific colleges but I do know that the goal is to work to also grow the general Endowment and that it has been encouraged for people to not be too restrictive on their donation so as to give the University more Leeway. In the end it makes sense, things change over time and interests in specific majors or colleges change and it's good to have a flexible pot of money to work with where the needs for scholarships are and not have it all locked in.
Also, Valpo Day of giving is set for April 11th. In the past they've saved announcing several larger gifts and matching donations until that day so we may see a bit of a jump at that time. I've also heard that they will be rolling out even more crowdfunding programs that day as well.
In looking back at what I wrote, I definitely got off track and agree that the first paragraph is not really accurate. I greatly appreciate ValpoFan's comment, as he is right that endowment gifts can be established for particular programs or causes (ValpoFan was even respectful in his or her justified criticism).
Still, I do feel that there is a push at any university to get donations that are not aligned to a specific cause and there are a lot of rules and processes that attempt to discourage donations to particular programs or colleges. We just went through this process with Valparaiso and it was difficult and time-consuming to set up an endowment/donation plan that quickly got donated money put towards its intended use. However, we did eventually get it structured to meet our objectives and fit within Valpo's rules and processes.
Your questions or concerns raise some flags. That would point to some problems.
Unless the website campaign total is running behind, there are been no real gains in the campaign total since VU72 posted on March 10 and the total raised still falls short of $170 million.
The latest news indicates that they have raised nearly 180 million. This information was in one of the Proud to be Valpo postings. Curious as to how much the Proud to be Valpo day brought in. As I remember from last year, the University is somewhat slow to publish the results. Don't know all that is involved in coming up with the total.
I think they have to identify matches and get pledges in writing plus figure out which team won which award and it all moves super slowly but I think I saw they had over 800 donors which was more than last year
The "Forever Valpo" web page now lists $175 million plus as the total.
I do think I saw $169m on that page yesterday but it was probably lagged out of date. Glad to know it has gone up.
But I don't see "$180 million" anywhere.
Look at some of the postings re: Proud to be Valpo. Here's the exact quote:
There has been great momentum behind Forever Valpo: The Campaign for Our Future since its launch. Thanks to the support of Valpo donors, Forever Valpo has raised nearly $180 million! Take a look back at the video that kicked off The Campaign. https://t.co/KLJk3I91le
I am all in favor of Valpo achieving the goals of the campaign and other programs to raise funds, but does a university (or any other non-profit organization) ever say that there is not great momentum behind our campaign?
The video is extremely well done. Very inspiring and reflects a full breadth of what happens at Valpo.
The dollar update of "nearly $180 million" suggests that the speed is really picking up since VU72 said $169m a few posts back in early March.
Is it possible that $175.6 qualifies as "nearly $180 million"? Plausibly so. If the specific number is closer to $180 million, why not post it on the "update" web page?
Copied from the Forever Valpo web page TODAY, April 14.
Campaign Progress
Raised to date: $175,070,858
Goal: $250,000,000
Quote from: crusadermoe on April 14, 2018, 01:54:24 PM
Copied from the Forever Valpo web page TODAY, April 14.
Campaign Progress
Raised to date: $175,070,858
Goal: $250,000,000
Dumb question, is this in addition to the published endowment I see on Wikipedia of $235.2 million?
Or is $175 million our new total endowment? Meaning our endowment has lessened through spend or general losses since the 2017 Wikipedia referenced total.
Quote from: FieldGoodie05 on April 14, 2018, 05:42:11 PM
Quote from: crusadermoe on April 14, 2018, 01:54:24 PM
Copied from the Forever Valpo web page TODAY, April 14.
Campaign Progress
Raised to date: $175,070,858
Goal: $250,000,000
Dumb question, is this in addition to the published endowment I see on Wikipedia of $235.2 million?
Or is $175 million our new total endowment? Meaning our endowment has lessened through spend or general losses since the 2017 Wikipedia referenced total.
No, it is in addition to the 235 you wrote about. Now, don't expect the total published next year to be over 400. The current 175 committed is mostly pledges for future contributions due after some significant event like say, death! ;)
Quote from: vu72 on April 14, 2018, 05:52:17 PM
Quote from: FieldGoodie05 on April 14, 2018, 05:42:11 PM
Quote from: crusadermoe on April 14, 2018, 01:54:24 PM
Copied from the Forever Valpo web page TODAY, April 14.
Campaign Progress
Raised to date: $175,070,858
Goal: $250,000,000
Dumb question, is this in addition to the published endowment I see on Wikipedia of $235.2 million?
Or is $175 million our new total endowment? Meaning our endowment has lessened through spend or general losses since the 2017 Wikipedia referenced total.
No, it is in addition to the 235 you wrote about. Now, don't expect the total published next year to be over 400. The current 175 committed is mostly pledges for future contributions due after some significant event like say, death! ;)
Thanks for the clarification. Saved me a good amount of research!
https://www.valpo.edu/news/2018/05/01/endowed-fund-for-high-need-high-ability-students-established-by-valpo-alumni/
https://www.valpo.edu/news/?type=post&site=239&id=10096
There have been 2 announcements about new funds to the University in the last 2 weeks or so
:clap: :clap: Super!
Great to see "young" alumni stepping up with big gifts and joining the Board of VU.
Thanks to the Conrad family!
New total posted:
$178,868,947, or 71.5% of the goal.
On March 7, I posted a total raised of $169,614,378.
That means that is two months they have raised a total of $9,254,569!! Good work!! :cheers:
I was told recently by what i consider a good source that as of now this Forever fundraising campaign should end by 2022 unless of course big money comes in perhaps unexpectedly sooner to change that timetable. So...not sure what that means for athletics fundraising but...i could guess. Hopefully in meantime Rec center funding continues and it gets built.
Sent from my SAMSUNG-SM-G920A using Tapatalk
I am told the actual up-to-the-minute amount raised has reached just beyond the $180,000,000 mark.
The official total is probably always a few million behind the actual total I'd imagine just because of legal reasons or holding some info back to have a separate press release at a more opportune time.
Thanks for the campaign stat, VU72. Very nice gain in past two months indeed!
Wasn't sure where to post this so put it here. A Lutheran College in Alabama is closing its doors after almost 100 years in existence. Its background, which is similar to other Lutheran Colleges like Concordia Chicago or Concordia Nebraska, involved training students to be Lutheran pastors and teachers. Unfortunately this institution wasn't as nimble as some is refocusing to adapt to changes in society and the church.
Here is the whole article:
https://blogs.lcms.org/2018/concordia-college-alabama-closes-nevertheless-dr-rosa-j-youngs-legacy-continues/
Here is one segment that I found particularly of interest:
CCA is not the first Synod college to close its doors for various reasons. Preceding the CCA closing were colleges in New Orleans (early 1900s); Conover, N.C. (1935); Oakland, Calif. (1973); Fort Wayne, Ind. (1977); Concordia, Mo. (1986); and Winfield, Kan. (1986).
The school also joins a growing list of colleges and universities, both public and private, that have closed or are likely to close their doors due to declining student enrollment, budget woes and other insurmountable challenges.
Referring to the efforts of the Board of Regents, Chief Transition Officer Dr. James Lyons Sr. told students and faculty, "I can lie down [at night] feeling very comfortable that this group of individuals did everything possible to keep this school afloat."
Well thankfully Valpo is WELL ABOVE any dire threat of disbanding etc. It is thriving in many ways. The week of Labor Day has always been one of my favoriteS of the year. It's a fresh start in the college world and the sports world amps up dramatically. College and pro football seasons start and the baseball stretch drive starts in earnest.
The week of Sept. 4 nationally is a universities' annual report card of sorts.
1) New year enrollment numbers finalize quickly afterward
2) U.S. News rankings are released
3) At VU, basketball season is typically announced near this time
4) At VU, perhaps also a new tally on "Forever Valpo" campaign. Wahoo!
New total just released! Now $188,691,996 or 75.5% of goal.
That is an increase of $9,823,049 in just under two months. :clap: :clap: :clap:
New total: $190,139,286 That is an increase of $1,447,290 in the last month. Pace is slowing but still moving forward! Now at 76% of goal. :clap: :clap: :clap:
Yes, this will be the hardest part because it will be about asking from new donors you have hopefully been cultivating. That's supposedly part of the reason the President has brought in the new COO. He needs to be on the road twice as much.
I've also heard through the grapevine that the next priority for athletics is arena improvements but that they have been having trouble getting our athletic donors to committ
Why would they be having trouble getting them to commit? It feels like the need\desire for athletic upgrades is nearly universal. Is it the expense? Is it that we don't have many major athletic donors?
Quote from: VUGrad1314 on September 10, 2018, 09:36:02 AM
Why would they be having trouble getting them to commit? It feels like the need\desire for athletic upgrades is nearly universal. Is it the expense? Is it that we don't have many major athletic donors?
[/b]
Bingo!
I believe that there are just not that many who prioritize Athletics that also have the money to fund it. It took years to get the money for the Track and that was just Five million.
Was a new student union or library of current sizes sought out by any of the key donors? or did the leadership sell it to them?
Interesting question, Moe.
I thought so.
There's no question that endowment is vital. It has to be done constantly to build up the war chest.
However, endowment growth doesn't give any strong juice in the short term to enrollment. Is every dollar of current expense being viewed through the lens of enrollment impact? If not, it should become the lens and urgently!! If the new crossing sidewalks and landscape changes are going to draw more students, then I salute that investment.
I'm hoping we'll get some updates on this drive at homecoming. I'll try to get some info from Mark on athletics as well.
Was there an update on this campaign given at Homecoming? It seems that all the air has been let out of the campaign. The Forever Valpo webpages haven't been updated in a very long time and I haven't seen any news of significant donations. What's happening? The lack of information is somewhat discouraging.
The Campaign is 75% finished and I believe the current funding page has it up-to-day at 190 million of the 250 raised. They tend to do announcements in chunks it seems, especially as many of the endowments are for general scholarships or endowed chairs. My guess is that we will see the President out and about the country a lot more over the next year or two to bring home the last bit. I think there was probably a lot of schmoozing with specific donors going on this Homecoming Weekend and several dedications of buildings and programs that were created through the fund like the new PA building and the Hilltop Gym Dedication.
Makes sense. "PA building" --?
The university has the new Physician's Assistant 5 year program. They've created a space for the graduate level classes in a building that was part of the hospital purchase and they had the official opening for it and a lot of the state of the art upgraded technology they have at homecoming. It's Annex B which I believe is on the corner of LaPorte at the far end of the hospital grounds
Whew. Ok. I thought you meant Performing Arts building. As in VUCA. That would be a bad sign.
Quote from: crusadermoe on October 01, 2018, 06:41:12 PM
Whew. Ok. I thought you meant Performing Arts building. As in VUCA. That would be a bad sign.
Unfortunately, for athletics supporters, jocks? like us there are still too many that feel this is a good sign and really don't feel athletics is important for student growth.
I actually participated often in music groups. My points are strategic in that they help differentiate Valpo from the dozens of options when students create a short list.
1) How many private colleges in MN, WI, IL, IN, and MI have music groups? -Dozens
Heck, how many Lutheran private ones? - Two Dozen+ ?
2) How many of said music groups have their concert times posted in major city newspapers 2-3 times a week (in comparisons to game times) and have their music concert results posted on crawls under TV screens and reported on the nightly local news? - None!!
The campaign website has not been updated for at least a couple months. Does anyone have any news on this?
Paul
Quote from: 78crusader on November 15, 2018, 03:19:22 PM
The campaign website has not been updated for at least a couple months. Does anyone have any news on this?
Paul
Yes, I contacted the Alumni Office a couple of days ago and was told that the end of October total was $192 mil and that they are on track to meet the $250 mil goal by the end of 2021.
Encouraging to hear! Now let's get the big MBB booster(s) to get started on the ARC reno.
Official update: $193,406,606
Local Newspaper article on funds to build a new lab for the new Environmental Engineering major
https://www.nwitimes.com/business/local/valparaiso-university-building-lab-for-program-to-train-environmental-engineers/article_87545e96-ed04-5ef7-858a-40964bd32274.html?utm_content=bufferf99ec&utm_medium=social&utm_source=twitter.com&utm_campaign=LEEDCC
It doesn't specifically say it in the article but I believe these funds are a part of Forever Valpo
Quote from: crusader05 on December 07, 2018, 09:34:47 AM
Local Newspaper article on funds to build a new lab for the new Environmental Engineering major
https://www.nwitimes.com/business/local/valparaiso-university-building-lab-for-program-to-train-environmental-engineers/article_87545e96-ed04-5ef7-858a-40964bd32274.html?utm_content=bufferf99ec&utm_medium=social&utm_source=twitter.com&utm_campaign=LEEDCC
It doesn't specifically say it in the article but I believe these funds are a part of Forever Valpo
Yes it is. This is the same subject gift from the Valpo website:
https://www.valpo.edu/news/2018/12/04/alumni-gift-supports-laboratory-for-valpos-new-environmental-engineering-program/
Nice jump of about $6 million in a month. Official total now at $199,201,169. :clap:
They've been moving right along. I keep waiting for them to hit a wall especially with only 50 million left now. I have heard the president has been on the road pretty aggressively and is trying really hard to bring this home quickly.
Still watching and waiting for a large special designated gift to the ARC renovation as part of the Campaign...any takers out there?
I saw Lottich talking to group of alums courtside at Homecoming. If they continue their win streak I can imagine that this can increase their edge in getting the money. Anyone going to the alumni event tonight? Bet there will be some convos happening somewhere.
Given the continuing discussions or questions about fundraising, financing, and facilities on the board, I thought I'd pass along today's Chapel devotional distributed to the university by Deaconess Kristin and Pastor Jim, which reflects the current atmosphere of economic concerns across the campus.
A VIGIL FOR VALPO
For many among the faculty and staff of Valparaiso University, last semester was a rough one. Colleges and universities across the country are under financial pressure for a variety of identifiable and sometimes uncontrollable reasons. Here at Valpo we've not been exempt from these issues.
As anyone caught in the present government shutdown will tell you, when money gets tight people get anxious, even fearful. Last semester, in large forums and smaller meetings, faculty and staff sought answers to their questions and gave expression to their concerns. Some of these exchanges became heated. If our community has been typical of other human communities, there have been other, more quiet conversations which have been no less divisive as we identify others who are adding to the problem, not doing their fair share, have some unfair advantage, don't have all the facts, or aren't paying enough attention. The list of accusations can become nearly endless. Though our perspectives and concerns are real and legitimate, frequently in their airing we've not been our best selves. Instead, we've been quick to place blame, assume the worst of others, and succumb to a perspective that the reality of our work together is that our work is against one another: colleges in competition with other colleges, departments with departments, faculty and staff against administration. Many among us are frustrated, angry, fearful, and disappointed. Ironically, if we didn't care so much about it all, we wouldn't be so emotionally engaged.
It's a new year and a new semester but none of what I just described has gone away, nor will it.
We do, however, as a Lutheran university, have significant resources to bring to bear for our life together. The Chapel is offering the morning of Thursday, January 24, as a time of prayer vigil for Valpo. There will be FOUR 20-minute services of music and prayer around the cross on the hour, beginning at 9 a.m. in the Gloria Christi Chapel on the lower level, east end of the Chapel of the Resurrection.
Whether you're a member of the faculty, staff, administration, or a student, you are invited to come at a time that works with your schedule in order to join with others as we pray for ourselves, for our colleagues, for students, and for the university. We will remember that we are a whole university community under the Cross of Christ and that all of our work together, even our best work, is done under the incomprehensible grace of God who responds to our every failing with love and forgiveness. Both of us will be available in the time between the services for private conversation and prayer.
Quote from: valpopal on January 16, 2019, 10:02:07 AM
Given the continuing discussions or questions about fundraising, financing, and facilities on the board, I thought I'd pass along today's Chapel devotional distributed to the university by Deaconess Kristin and Pastor Jim, which reflects the current atmosphere of economic concerns across the campus.
A VIGIL FOR VALPO
For many among the faculty and staff of Valparaiso University, last semester was a rough one. Colleges and universities across the country are under financial pressure for a variety of identifiable and sometimes uncontrollable reasons. Here at Valpo we've not been exempt from these issues.
As anyone caught in the present government shutdown will tell you, when money gets tight people get anxious, even fearful. Last semester, in large forums and smaller meetings, faculty and staff sought answers to their questions and gave expression to their concerns. Some of these exchanges became heated. If our community has been typical of other human communities, there have been other, more quiet conversations which have been no less divisive as we identify others who are adding to the problem, not doing their fair share, have some unfair advantage, don't have all the facts, or aren't paying enough attention. The list of accusations can become nearly endless. Though our perspectives and concerns are real and legitimate, frequently in their airing we've not been our best selves. Instead, we've been quick to place blame, assume the worst of others, and succumb to a perspective that the reality of our work together is that our work is against one another: colleges in competition with other colleges, departments with departments, faculty and staff against administration. Many among us are frustrated, angry, fearful, and disappointed. Ironically, if we didn't care so much about it all, we wouldn't be so emotionally engaged.
It's a new year and a new semester but none of what I just described has gone away, nor will it.
We do, however, as a Lutheran university, have significant resources to bring to bear for our life together. The Chapel is offering the morning of Thursday, January 24, as a time of prayer vigil for Valpo. There will be FOUR 20-minute services of music and prayer around the cross on the hour, beginning at 9 a.m. in the Gloria Christi Chapel on the lower level, east end of the Chapel of the Resurrection.
Whether you're a member of the faculty, staff, administration, or a student, you are invited to come at a time that works with your schedule in order to join with others as we pray for ourselves, for our colleagues, for students, and for the university. We will remember that we are a whole university community under the Cross of Christ and that all of our work together, even our best work, is done under the incomprehensible grace of God who responds to our every failing with love and forgiveness. Both of us will be available in the time between the services for private conversation and prayer.
Pray tell! What the heck is this all about?? What financial issues? What financial pressures? Who against whom?
Basically it's related to what has been a country wide decrease in certain areas of enrollment and increased competition in the area. The University's annual budget is based on year by year tuition and so when enrollment is tight and students need more and more financial aide to get them to come here things because and issue. The fact that the law school has become a large financial drain on the university has also hit them. This has meant budget cuts and talks about making the university more financially stable into the future (this is part of why the endowment is such a large focus, it helps take many annual costs off the books to insulate the way the university runs itself from the economic environment). Anyone who has ever been in a business during a belt tightening year can attest to the way it effects morale and I think that is what the vigil is referring too.
.....and the construction bonds debt is a factor. Enrollment is issue #1, #2, and #3 because that is the annual cash flow.
Endowment will be a very slow way to make an impact. Necessary but not a sufficient help in the next 3-10 years.
Where does the buck stop on enrollment? See other thread?
There has definitely been an all hands on deck type of response in regards to changes, but Universities are a slow ship to turn. We have a new enrollment head and his methods seems to be a tighter focus on the types of students they know thrive the best at Valpo but any major changes tend to take 2 years to notice. The failure to get the vote to transfer the law school is definitely a factor that will be gone in the next two years. I know there is also a committee specifically focused on revenue generation and the Universities tendency to hoard land is a good way it has shored up it's assets.
Everything I've heard is that long term viability is fine, but it's just how rough are the next five years going to be. Small increases in enrollment can help and so can increasing our retention and investing in more updated system and processes. There is also one major retirement happening in the Administration and I wouldn't be surprised if you see a bit more turn over in the next year.
Yes, when you recruit a small class you live with that lost revenue for four years.
The president of Harvard once said decades ago....... (before the endowment was the size of many countries' GDP)......every year's enrollment has us just one step away from a crisis. But even with gradual enrollment gains, do they net enough revenue after the big discounts?....aka scholarships?
The long-term question: How does Valpo distinguish itself for parents and prospects from hundreds of other smaller universities that offer a PC-dominant culture?
No-one cares about the PC dominate culture. They care about bottom line cost/chance for a job/services (not even dorms any more, students care about having good career centers/counseling centers, etc). There's a reason that Valpo's College of Engineering and Nursing School continue to see increased enrollment while challenges to certain liberal arts majors exist.
I have talked to someone who has heard what the new enrollment director is focused on it seems that he is taking a more targeted approach focusing on students who are more tied the university's strength as well as areas he believes we can be doing better in such as the college of business. The other main concern is that most universities are supported by tuition dollars from 3 sources: Graduate programs, international students, and students who come from a specific income bracket that can afford to pay more. Two of those are decreasing across the country. One due to a good economy, another due to politics, but the third we can do something about. But we probably don't get those students by stealing them from a Butler or Xavier. We get them by looking at students who are maybe looking at liberal arts colleges slightly smaller than us and show them they can get the smaller college experience with more opportunities.
I believe that crusader05 is correct. Students and parents care about return on the investment. However, I would say that dorms and rec centers are a factor in getting students to decide to come to your school versus other schools. It is tough to compete if you are not at parity on a major factor.
But crusader05 nails it on how trends are influencing declines in enrollment. From the last data that I saw on enrollment, the biggest declines were in the law school, graduate liberal arts and (I believe) the MBA program. The undergraduate professional disciplines are all strong and the undergraduate arts and sciences seem fine. New professional discipline oriented programs at Valpo (physician assistant) respond to enrollment and societal trends that are likely to continue. MBA programs struggle with a strong economy and the return for graduate liberal arts is not there. My fear is that the university won't 'play to its strengths', respond to real trends and make hard decisions, but instead will try to make strategic decisions to please everyone.
And regarding the 'smaller experience with more opportunities' suggestion, I would expand on crusader05's comment and suggest that Valpo (by its personal attention to students) can attract students who may have a much better chance of graduating in a professional discipline at Valpo than at other schools who may offer less personal attention.
This probably belongs in the "Facilities" thread rather than part of a fundraising discussion, but a brief story I'd like to share illustrates, in a small way, what VU and other similarly-situated schools are up against.
I work primarily now as a mediator. Today I was over in the northeast part of Iowa and was informed by one of the lawyers that a large high school in the area recently spent $12 million ... on an aquatics center.
If high schools are spending that kind of money on what is traditionally a smaller sport, imagine what the facilities for basketball and football must look like. I've heard a $15 million figure tossed around for a remodel of the ARC. That figure would only be a bit more than one Iowa high school spent on its swimming program.
Paul
Quote from: 78crusader on January 21, 2019, 03:51:40 PM
This probably belongs in the "Facilities" thread rather than part of a fundraising discussion, but a brief story I'd like to share illustrates, in a small way, what VU and other similarly-situated schools are up against.
I work primarily now as a mediator. Today I was over in the northeast part of Iowa and was informed by one of the lawyers that a large high school in the area recently spent $12 million ... on an aquatics center.
If high schools are spending that kind of money on what is traditionally a smaller sport, imagine what the facilities for basketball and football must look like. I've heard a $15 million figure tossed around for a remodel of the ARC. That figure would only be a bit more than one Iowa high school spent on its swimming program.
Paul
So true. If you looked at the $ war in Texas football, you would be appalled. $80 million for a high school football stadium.
Quote from: vu72 on January 21, 2019, 09:35:30 PM
Quote from: 78crusader on January 21, 2019, 03:51:40 PM
This probably belongs in the "Facilities" thread rather than part of a fundraising discussion, but a brief story I'd like to share illustrates, in a small way, what VU and other similarly-situated schools are up against.
I work primarily now as a mediator. Today I was over in the northeast part of Iowa and was informed by one of the lawyers that a large high school in the area recently spent $12 million ... on an aquatics center.
If high schools are spending that kind of money on what is traditionally a smaller sport, imagine what the facilities for basketball and football must look like. I've heard a $15 million figure tossed around for a remodel of the ARC. That figure would only be a bit more than one Iowa high school spent on its swimming program.
Paul
So true. If you looked at the $ war in Texas football, you would be appalled. $80 million for a high school football stadium.
https://www.houstonchronicle.com/sports/highschool/article/Most-expensive-high-school-football-stadiums-Texas-13145194.php
Here is a link to the page at the Chapel website for tomorrow's (1/24) "Vigil for Valpo": https://www.valpo.edu/chapel/a-vigil-for-valpo/ (https://www.valpo.edu/chapel/a-vigil-for-valpo/)
Quote from: valpopal on January 23, 2019, 12:09:12 PM
Here is a link to the page at the Chapel website for tomorrow's (1/24) "Vigil for Valpo": https://www.valpo.edu/chapel/a-vigil-for-valpo/ (https://www.valpo.edu/chapel/a-vigil-for-valpo/)
If people want to get together and pray over strategic and operational issues because it makes them feel better dealing with uncertainty and challenges...fine. But honestly, Valpo is like any other organization. Effective strategic planning and planned use of resources, by necessity, requires decisions of what programs the university will reduce or eliminate. Recent moves to add programs in business analytics, environmental engineering and physician assistance are right in line with trends of what students (and parents) expect and where jobs will be plentiful. However, if you do not have a strong case that the university will grow (not just hope), then you have to trim programs which students (and parents) feel are less necessary. If some people are on the wrong end of that, I feel for them, but you can't let that severely restrict strategic actions - otherwise you try to be all things to all people, but ineffective with critical new programs.
Just an update: The Forever Valpo Campaign has officially passed the $200,000,000 mark!
... and they were giving out T-Shirts and Cupcakes in the union this morning to celebrate ! (I only got one of the two)
I have been impressed with the pace of the fundraising so far this year. Especially since the last part is so hard. I'm wondering if Heckler being out on the road more has helped with the pace.
I wonder what the next drive will be for... Dorms? New academic buildings that haven't been updated yet? Athletics? How about a targeted campaign to raise everything needed for these things by 2030? Then we can do another endowment drive... I really think exciting times are ahead for Valpo on all fronts.
My guess is it will be focused on 1-2 new academic building sand athletics. But, I'd imagine it will be under a new president. Heckler has been here for 10 years now I believe and is getting older. I can see him wanting to see this endowment drive through as well as the development of some of the newer programs, especially the new OT PhD and then it will be time to turn the page again.
If we must seek a new president in the future I want that person to be a good energetic financial steward who is staunchly pro-athletics. Would this be a good role for Homer?
Quote from: VUGrad1314 on January 28, 2019, 07:46:25 AM
If we must seek a new president in the future I want that person to be a good energetic financial steward who is staunchly pro-athletics. Would this be a good role for Homer?
Perhaps if Bryce were still HC
I assume the Drew family have no involvement with Valpo any longer
Quote from: crusader05 on January 28, 2019, 07:27:06 AM
My guess is it will be focused on 1-2 new academic building sand athletics. But, I'd imagine it will be under a new president. Heckler has been here for 10 years now I believe and is getting older. I can see him wanting to see this endowment drive through as well as the development of some of the newer programs, especially the new OT PhD and then it will be time to turn the page again.
That's only half the time that President Harre served from 1988 to 2008. I don't think Heckler retires in the near future.
While that is true that Harre was here for a long time the average tenure of a college president is around 6-8 years in today's environment. So if Heckler stays until the completion of the Fundraiser which is at Spring 2021 He will have outlasted the high range by several years.
Harre retired in 2008 at approximately 69 years of age. If Heckler stays until '21 he will have been here 13 years and be around 67.
https://www.valpo.edu/news/2019/02/01/valparaiso-university-alumnus-establishes-endowed-business-professorship-and-scholarship/
Another announcement a gift through the campaign
Crusader05, you said on the NACUBO thread that you believe that the "Hilltop Stuff" may have been counted in the campaign.
I have been wondering in the last couple of months how we moved so fast from $170 million in July to $200 million in January. That gain looks very impressive. Such a big jump would probably have to include 10-15 million dollar gifts. But we have not seen donor gift press releases at nearly that pace since July.
What is the Hilltop stuff?
My guess is that it includes the Kempf Practice facility nutrition rooms and possibly the AC that was put in awhile ago.
The hilltop stuff could be a part BUT my guess is that they count estate plans in their count toward 250 but do not announce it until the money is officially in hand. That is what happened two years ago when the Counseling Center got their endowment. It had been promised several years earlier at the start of the campaign but there was no public announcement of the money until the donor passed and the money moved to the university. The other pieces are that announcements lag donations or they have money promised to fund something but they need more to fully cover it so they won't announce it all until it happens. (speaking really hopefully if there is a large donation out there to account for that jump it could potentially be the lead donor for a larger renovation project. I have heard they are looking for lead donors for both updating older labs in Gellerson and for ARC renovations which means those are two projects they are explicitly pitching to people
I would hope baseball also works its way in there but first things first. Take care of the academics the dorms and the flagship sport.
I thought Baseball has gotten recent upgrades but I'm not sure how much. I think they probably are good with academic buildings for a bit unless a lead donor pops up for one. The major needs have been addressed and the rest is just to move towards a more centralized campus. Something nice, but not necessarily a "need" vs the ARC upgrades.
New official total posted at $200,631,376
Quote from: crusadermoe on February 10, 2019, 10:36:18 AMCrusader05, you said on the NACUBO thread that you believe that the "Hilltop Stuff" may have been counted in the campaign. I have been wondering in the last couple of months how we moved so fast from $170 million in July to $200 million in January. That gain looks very impressive. Such a big jump would probably have to include 10-15 million dollar gifts. But we have not seen donor gift press releases at nearly that pace since July. What is the Hilltop stuff?
According to this article the endowment fund increased by over 10% thru investments. 10% of 170M is 17M. That could be a pretty good chunk of the increase. I doubt it increased that much from July but the larger the fund increases the larger the gross dollar gain there is. Good investing will help the endowment grow quicker than just by donations.
https://www.valpo.edu/news/2019/02/08/valparaiso-university-endowment-returns-10-7-percent-ranking-in-upper-decile-of-nacubo-tiaa-study/
There is also a difference between the actual Endowment: which is what money we currently have, and the endowment campaign: which is a goal to get 250 million in new money but some of which will be estates and not in our current possession yet.
So jumps in the campaign may not be replicated in jumps in the endowment and vice versa.
We had a 10% return on our current endowment funds which was very good, but when the university publishes we are now at XXX amount of dollars they are referring to how much money has been raised for the fundraising campaign.
George W Bush once complained of fuzzy math ( I don'r remember the context).
It sounds like "campaign math" is a 3-credit course. Maybe Crusader05 begin our curriculum with the elements of the campaign goal and what counts? And when did the first dollar count?
Sorry Crusadermoe if you don't like my posts as this seems to be the second sarcastic response I've received from you.
Please let me know which answers you would find satisfactory? I don't mean to come across as condescending but I was just trying to explain why there is a difference between what's listed on the campaign vs what is listed as our actual endowment.
Ok....I can see the sarcasm perception. My apologies. You actually explained the difference between NACUBO and the campaign total well. Keep up the good work.
I was baiting you a little It's not a 3-credit course. But comprehensive campaigns are a bit of an oddity and I thought you might just lay that out. The count the estate once concept is a big asterisk.
I realize it has become the national norm, but I wonder at times if the race nationally and regionally to have the biggest campaign total sometimes backfires on colleges. Valpo is not responsible in any way for that trend. When annual money and estate pledges are wrapped into totals, those numbers can breed envy, misinformation, and confusion even within a campus. That is only compounded in the general public as the board has shown.
apologies than for taking it the wrong way.
I really don't know the gritty(heh) details of it all but just knew about the estate planning part as I have a friend who's grandfather (a legacy) donated to the fund through his estate plan but is still currently alive and having a good time. :) as well as hearing about the counseling center donation well before it was ever announced.
I think it can be a bit odd in regards to how these are simplistically branded and how they are actually run for sure, We raised 250 mil for the endowment is a lot more concrete than "we have raised received x amount plus also we gotta wait for these guys to die and also here's a basketball court."
I think with NACUBO coming out and then the University putting out the 10% return piece it got even more confusing as well.
Perhaps this will help. The Kretzmann Society includes members who have made a bequest to Valpo via their will.
https://valpo.giftplans.org/index.php?cID=89
We just received a $1 million dollar gift from the estate of William E. Schlender. Who know when he committed to making the gift but he died in January of 2016. Presumably the funds were finally delivered to Valpo. I think this best illustrates the difference in committed fund to the campaign and the actually size of the endowment. The announcement says the gift supports the current fund drive although he died before the official launch date. ???
I think they already had donations secured when they did the official launch date in September 2016 so who the hell knows when they officially started asking for money for this damn campaign
In May 2011 there was a news release of Helge gift to the chapel of $15 million. It was counted in the Forever campaign. Look at the campaign website.
That's what I have been saying about the pace of it and it taking "forever" to reach goal.
This has sent me down a rabbit hole of looking up stuff about endowment funds and campaigns and how long they take. Surprisingly little out there that's direct but I did find something from 2008 that said only 16% of 2-4 year colleges had an endowment of over $50 million!
Weslyan, which has a ridiculous endowment history, raised $190 million in gifts in around 7 years.
It seems that our campaign is ambitious but not outrageous compared to our peers. It does seem that it might be a bit more endowment focused. Drake had a goal for 200 million with a under half(74 mil) that raised when they went public and then 5 years to get the rest.
We have a 250 goal, went life in 2016 and had 135 million when we went public so not too far off theirs in regards to needing to raise about 125 more million.
I guess they have decided to post updates more frequently. On February 11 I posted $200,631,376 and when I looked today it was up to $200,721,508 for an increase of $90,132!! At that pace it is going to take quite some time to get to $250 million!
Valpo just announced a $1.3 Million dollar donation to the business school (for an endowed faculty chair and endowed scholarships) from an alumnus. I am not sure when that was added into the total, but it would seem that there is still activity.
They also just announced their Proud of be Valpo Day on April 10th. I believe that usually coincides with some donation announcements as well.
Quote from: vu72 on March 07, 2019, 09:22:33 AM
I guess they have decided to post updates more frequently. On February 11 I posted $200,631,376 and when I looked today it was up to $200,721,508 for an increase of $90,132!! At that pace it is going to take quite some time to get to $250 million!
How much do we think $250,000,000 was just a "throw it at the wall and see if it sticks"?
Let's say they ran the numbers and figured out that sum was the requisite amount necessary for ______ years of operating costs etc.
What's the likelihood our alumni have those type of resources? Just a question as I've no experience in this field.
Say 10% of grads donate $50,000 in a lifetime.
Say we graduate 750/year over the last 50 years = 37,500 alumni.
My made up numbers say that 10% = 3,750 donors "may" have the means and spirit to donate approx $187,000,000.
I suppose logic dictates $250,000,0000 fundraiser is difficult to achieve. Combine that with the fact that it's probably not the first fundraiser in the past 50-years and certainly not the last. How in the heck do we even approach these numbers knowing that fundraisers can be an every 10-15 years and just how small our alumni base is in the grand scheme of things?
Being 80%+ to objective seems quite impressive, dauntingly so...
It isn't scheduled to end until 2021 so you have to raise close to 50 million in two years to meet the goal. Seems doable but my guess is it's gonna be slower going. They had a lull and then it seemed to pick up but now it seems to have lulled again.
You know what can fix that? A run in Arch Madness and getting a game on CBS this Sunday! Go Valpo!
Crusader05. Did you say the campaign was Forever?....or targeted to end in 2021? ;)
Does anyone know what the current amount of Valpo's current endowment? It was ~$235M in 2017 and, I would assume, has increased with further progress in fundraising and the 2018 return on investment.
Quote from: vu84v2 on March 11, 2019, 01:41:09 PM
Does anyone know what the current amount of Valpo's current endowment? It was ~$235M in 2017 and, I would assume, has increased with further progress in fundraising and the 2018 return on investment.
See the thread on the 2018 NACUBO results https://www.valpofanzone.com/forum/index.php?topic=3351.0 (https://www.valpofanzone.com/forum/index.php?topic=3351.0) or else the details here https://www.nacubo.org/Research/2019/Public-NTSE-Tables (https://www.nacubo.org/Research/2019/Public-NTSE-Tables). Note that these are through June 30, 2018 for FY 2018 so there is always a bit of a lag. The total is $250.4M
I'm sorry I don't remember which thread I saw Linwood Ave. being discussed but I heard at the Enterprise Center in St Louis that President Heckler is getting a house prepared for him on Linwood. I'm not familiar with exactly which house but it is near the road that goes off of Linwood where the Cotton family once lived.
EDIT: Looked it up. Near Linwood and Cedar Lane.
a bunch of old homes in that area have been demolished. I have no idea what it's bookmarked for. Be interesting if the president decided to build a house on those lands.
Quote from: bbtds on March 18, 2019, 01:48:36 PMNear Linwood and Cedar Lane.
Then that looks like it would be nearly across the street from OP's house, correct? The houses on Linwood owned by the University are up from the Mound St area. Those are all owned with the exception of my aunt's house at 807 Linwood, all the way to the old Theta Chi house.
Quote from: vu72 on March 18, 2019, 02:29:04 PM
Quote from: bbtds on March 18, 2019, 01:48:36 PMNear Linwood and Cedar Lane.
Then that looks like it would be nearly across the street from OP's house, correct? The houses on Linwood owned by the University are up from the Mound St area. Those are all owned with the exception of my aunt's house at 807 Linwood, all the way to the old Theta Chi house.
I probably knew where these houses were as an elementary school kid but my memory is foggy. I believe O.P.'s/Huegli's/Schnabel's house was near where Industrial Revolution/Brewsky's/Sambo's/Ed's Drive In was but across the street on Linwood. I believe, but could be wrong, that Heckler's house will be on the same side of the street as Industrial Revolution/Brewsky's/Sambo's/Ed's Drive In and further away from US 30.
I believe the Lilly Fellow's house is the former president's house and used to be accessed from Linwood but is now only accessed from Campus Drive South.
EDIT: My guess is 1048 Linwood.
https://www.google.com/maps/@41.4611766,-87.0481578,282m/data=!3m1!1e3
2ND EDIT: https://www.google.com/maps/@41.461354,-87.0475758,3a,75y,270h,89.54t/data=!3m6!1e1!3m4!1sa-Jevv3K9ykbIJtpl4gQDA!2e0!7i13312!8i6656
I was told the brown house at this location is gone and they are preparing another house just south of this brown house.
This thread got way off track. Unless a new home for Pres. Heckler somehow matters to the campaign.
Recent actors:
1) James Bond in "Diamonds are Forever"
2) Mark Heckler in "This Campaign Will Last Forever"
Final Results!
https://youtu.be/Yf_tW-Bg-VQ
New total posted! Now up to $206,204,084 or an increase of a little over $5.4 million in about 2 months. That would include the 750k raised on the Valpo Day of Giving.
Cool. Fine. Congrats. Now let's slice off just a mere $6.2 million (leaving $200 million to continue the campaign) and renovate the freaking ARC and bring back twice the investment with what that investment will produce in terms of gate, increased respect and national level exposure. Just my :twocents:
Quote from: VULB#62 on May 03, 2019, 10:09:34 PM
Cool. Fine. Congrats. Now let's slice off just a mere $6.2 million (leaving $200 million to continue the campaign) and renovate the freaking ARC and bring back twice the investment with what that investment will produce in terms of gate, increased respect and national level exposure. Just my :twocents:
You got my vote but it ain't gonna happen. We're either waiting for Bryce, Alec, Rowdy or some other Valpo inspired alum to pay for it.
So I've heard that the University has slashed some professor positions as a result of budget issues. Anyone hear anything about that?
how does Valpo have budget issues?
Quote from: mj on May 13, 2019, 07:54:51 PM
So I've heard that the University has slashed some professor positions as a result of budget issues. Anyone hear anything about that?
I posted the following in a different thread a couple months ago: "Due to budget limitations, I believe Heckler is constrained in spending, making him reluctant to divert much new funding to athletics, and if he did there would be strong opposition from many on campus."
New total posted. Now $209,754,977. That is up about 3.5 million in a little over a month. A nice jump and 84% of the final goal. Seems very achievable now.
Now, if our goal was $200 million we could revamp the ARC without incurring debt.
Maybe if we exceed the $250,000,000 goal the excess could go to the ARC renovation :)
Or bring back the professors and then build the ARC
$215,127,458
https://www.valpo.edu/forevervalpo/
Quote from: crusadermoe on June 18, 2019, 04:31:01 PM
Or bring back the professors and then build the ARC Thrivent Center/Hot Pocket Oven/Pampered Chef Arena/Weathernerd Forecast Building (it may take someone winning the lottery)
One of the honorary co-chairs of this campaign, Phyllis Duesenberg, recently (June 12) passed away. She and her husband Richard, were/are among the most generous alumni in the history of our great university.
Now THIS is fundraising. This school isn't even D1 yet (they begin this year I think). I wonder how they were able to raise so much money so fast while we struggle to finish a much more modest endowment drive that began (I believe) around the same time.
https://www.sandiegouniontribune.com/news/education/story/2019-08-17/with-unexpected-speed-uc-san-diego-raises-2-billion-in-donations-to-transform-campus
UC San Diego is a great school, particularly with STEM studies.
They also explain in the article that much of the money is marked for health and medicine, specifically research. Having a medical school is also a significant advantage, plus they have a huge student population.
People donate to small schools for different reasons than larger, research schools.
Quote from: VUGrad1314 on August 19, 2019, 03:09:09 AM
Now THIS is fundraising. This school isn't even D1 yet (they begin this year I think). I wonder how they were able to raise so much money so fast while we struggle to finish a much more modest endowment drive that began (I believe) around the same time.
https://www.sandiegouniontribune.com/news/education/story/2019-08-17/with-unexpected-speed-uc-san-diego-raises-2-billion-in-donations-to-transform-campus
UC-San Diego Foundation's endowment (2017 figure) is $1.6 billion.
VU's endowment (2017 figure) is $235 million.
A campaign such as UC- San Diego's builds on previous campaigns. Success begets success.
With Heckler planning to exit.."when does forever end" ?
Since it's launch the campaign had an end date set for 2021. It still remains 2021.
Bet it ends early
.....and what follows after forever? (sorry folks but this is too easy)
Quote from: David81 on August 19, 2019, 09:16:21 PM
Quote from: VUGrad1314 on August 19, 2019, 03:09:09 AM
Now THIS is fundraising. This school isn't even D1 yet (they begin this year I think). I wonder how they were able to raise so much money so fast while we struggle to finish a much more modest endowment drive that began (I believe) around the same time.
https://www.sandiegouniontribune.com/news/education/story/2019-08-17/with-unexpected-speed-uc-san-diego-raises-2-billion-in-donations-to-transform-campus
UC-San Diego Foundation's endowment (2017 figure) is $1.6 billion.
VU's endowment (2017 figure) is $235 million.
A campaign such as UC- San Diego's builds on previous campaigns. Success begets success.
Comparing Valpo to UC-San Diego is like comparing bananas to basketballs. UC-San Diego, besides being a very good school like Valpo, is located among high tech and advanced medical companies. People like the CEO of Qualcomm donate huge sums of money because UC-San Diego provides a rich and close source of valuable talent.
Quote from: vu84v2 on September 04, 2019, 03:02:51 PM
Quote from: David81 on August 19, 2019, 09:16:21 PM
Quote from: VUGrad1314 on August 19, 2019, 03:09:09 AM
Now THIS is fundraising. This school isn't even D1 yet (they begin this year I think). I wonder how they were able to raise so much money so fast while we struggle to finish a much more modest endowment drive that began (I believe) around the same time.
https://www.sandiegouniontribune.com/news/education/story/2019-08-17/with-unexpected-speed-uc-san-diego-raises-2-billion-in-donations-to-transform-campus
UC-San Diego Foundation's endowment (2017 figure) is $1.6 billion.
VU's endowment (2017 figure) is $235 million.
A campaign such as UC- San Diego's builds on previous campaigns. Success begets success.
Comparing Valpo to UC-San Diego is like comparing bananas to basketballs. UC-San Diego, besides being a very good school like Valpo, is located among high tech and advanced medical companies. People like the CEO of Qualcomm donate huge sums of money because UC-San Diego provides a rich and close source of valuable talent.
I bet they never used that analogy at UC Santa Cruz.
(https://www.reviewjournal.com/wp-content/uploads/2016/12/web1_spt-lvinsider-122816-bh-021_7668143.jpg)
As Aretha Franklin once sang, "I say a little prayer for you."
"Forever and ever and ever and ever"
:) :lol: ;D
Was anything said during Homecoming regarding the campaign and the latest total raised? It seems like the amount has been stuck on $218 million for a long time. I would have expected an updated total to be posted around Homecoming time and perhaps some news. The PR efforts of Valpo to generate enthusiasm and buzz are anemic (at least from my perspective.) Yes, the President is going to retire but the University still has to function and friends and alumni are interested in the future plans and vision of the University. The news feed is anemic. :snore: :-X
Quote from: sfnmman on October 03, 2019, 05:33:25 PM
Was anything said during Homecoming regarding the campaign and the latest total raised? It seems like the amount has been stuck on $218 million for a long time. I would have expected an updated total to be posted around Homecoming time and perhaps some news. The PR efforts of Valpo to generate enthusiasm and buzz are anemic (at least from my perspective.) Yes, the President is going to retire but the University still has to function and friends and alumni are interested in the future plans and vision of the University. The news feed is anemic. :snore: :-X
Yes. The total posted on the website is now up to $218,278,310 which is what President Heckler said at Homecoming That was it on the total but as usual, there were students at every table who were recipients of scholarships and, again as usual, one of the speakers was a very impressive student.
I agree the publicity is "anemic" but the rate of growth does seem pretty solid. He did say the plan was to end the drive in another year and a half.
Been stuck at $220 million for some time now.
Paul
I would think there will be some late, end of the year gifts, processing of which could be delayed because of the holidays.
I've heard they expect to be done at the end so I wonder if there's a large gift in the works that they expect to get us most of the way or all the way there. Last thing I saw said "over 220 million" but no idea how much over means.
Tin foil hatting it: based on Paul Oren's podcast that he heard about money for baseball and that we have heard their are ARC reno plans out there maybe lead donors for that?
You might be on to something.
Maybe there is a grand plan afoot to culminate the 10-year campaign with a huge gift to athletics?..
They may have kept a 9-year secret that the campaign will close out with $30 million for athletics. Perhaps they've kept the best for last in hopes we enjoy the suspense. Think about it.....in 2011 they recorded a $15 million to the campaign for a chapel addition. And now in 2020.....they unveil a huge campaign ending gift!
It could be that Christmas where you wanted and prayed for a shiny new bike all year. But on Christmas day, you keep opening bland stuff like socks, brown and gold sweaters, toy microscopes, parking garages for your matchbox cars. (Unknown to you, the camera pans to your parents who wink to each other.)
Then once you have slumped into your chair with a sigh.....your folks lock eyes and Dad leaves the room. Suddenly he enters the room rolling in the exact bike you wanted! Everyone cries tears of joy, a choir breaks out in song, and it becomes an instant holiday classic!
I'd actually prefer if it wasn't all for athletics cause I think growing the endowment for scholarships and professorship chairs is way more important :)
That said, My guess is that they have some more donors for endowment based stuff in the works and also maybe 10 million or less for athletic things. The campaign was supposed to go into 2021 so I see no reason why people have been making comments they anticipate it will be done a year early if they don't have too.
Maybe that's what Elgin was there to hear about\discuss. Maybe we do have some athletics donations. I sure hope so.
Patience...patience.
Amen, Brother M!
So, if and when we finally get a great new conference approrpiate ARC who's up for getting Butler to come christen it? Or in an homage to when the facility originally opened how about Notre Dame?
Quote from: VUGrad1314 on January 10, 2020, 04:54:57 PM
So, if and when we finally get a great new conference approrpiate ARC who's up for getting Butler to come christen it? Or in an homage to when the facility originally opened how about Notre Dame?
I say at least ask. Mike Brey will have the say but maybe not LaVall Jordan. Marquette or maybe even Ohio U would make some sense if the Big Indiana schools shut us out.
Mike Brey has shown a willingness to go on the road against mids. As I recall as one example they recently went to Delaware to play a game. Marquette would be great but I think above all else (not saying the ARC wouldn't be full loud and rocking no matter who they convinced to come) Butler would really get the fans amped up. A return to the old rivalry? Yes please even if just for one night! We should try to capitalize on that and make it a series so that we can get more games against them if it ever happens!
Quote from: VUGrad1314 on January 10, 2020, 09:30:01 PM
Mike Brey has shown a willingness to go on the road against mids. As I recall as one example they recently went to Delaware to play a game. Marquette would be great but I think above all else (not saying the ARC wouldn't be full loud and rocking no matter who they convinced to come) Butler would really get the fans amped up. A return to the old rivalry? Yes please even if just for one night! We should try to capitalize on that and make it a series so that we can get more games against them if it ever happens!
Just don't see where Notre Dame or Butler see any advantage except by jamming the ARC with their fans and taking away the home court advantage which neither one would be able to do. Maybe it would be more of a neutral court with many of their fans there. You don't gain any advantage by beating Valpo on the road. If the NCAA would ever truly reward a big to go on the road and beat a mid major (that term almost in itself is so patronizing, major but not quite) would go a long way in helping many teams both major and mid-major fill out their schedules.
Matt painter? Scott Drew? maybe bring their players, too.
Quote from: talksalot on January 11, 2020, 09:45:18 AM
Matt painter? Scott Drew? maybe bring their players, too.
Scott Drew, after his father and brother are gone, seems like it would be a no brainer but to Scott it seems he's lost total interest in playing at Valpo and he also must deal with his AD.
Although the official site is still stuck on $220 million, this article indicates that the current balance is in excess of $238 million! With no announcements, one has to wonder about whether or not a big donation perhaps dedicated to ARC improvements may have been committed. At least one can dream!
http://valpoathletics.com/baseball/news/2019-20/19655/bauer-field-renovation-off-to-strong-start/
So while not as large donation as I had speculated about it's definitely nice to see movement on athletic facilities towards the end of this campaign. It's also nice to see that parents of young alums are stepping up to help in this way.
Also since they're marked as the lead donors my assumption is they are hoping to raise more money from others still.
Also that $238 million number is a quite a jump from before and definitely keeps up with the timeline that ends the campaign a year earlier than anticipated.
You make $12 million sound like a "gimme." ;D Maybe you are sitting on $7 or $8 million?
I am not sure that finishing the goal in 9 years by 2020 instead of in 10 years by 2021 would be "early." The May 2011 chapel gift of $15m was counted in the campaign.
all of the endowment gifts are large if compared to my income :)
However, I just was referencing that I had made a prediction for a large gift towards athletics thinking multimillion dollars, not half a million. Granted more could be on the way.
Also, If you set a deadline to complete something and complete it before the deadline what would you call it?
With the sheer number of cuts that seem to be occurring I've lost interest or motivation on this topic. Just doesn't appear we're treading in the right direction. Hope I'm wrong or that these cuts pay off down the road.
I was surprised to see the baseball stadium announcement and am excited about that. The renditions look good.
As for the ARC, it seems like we've now got bigger fish to fry than renovating the ARC. Again I hope I'm wrong. But night in and night out a half full arena doesn't seem to add to our case that an updated facility would make a difference.
Under Bryce we had an identity. Same crappy arena. Same academic standards. Same funding if not less. Same city. Worse conference. But an identity.
That place during the NIT was rocking and rolling. Best experience I've had in porter county to date and one of the better sporting environments I've been a part of.
Had Bryce stuck around we would've built on that success ... we would've gotten back to the NCAA tournament.
We would've sustained student interest and fan support. We would've maintained an identity. Now we're floundering ... or just getting by at best. Really sad.
We're satisfied with moral victories and the thought of possibly not having to be in a play in game to advance in the MVC tournament or being in the top half of the league but sitting In 8th??
I just don't see it. Again I hope I'm wrong
But is the $238 million figure accurate? Could it be a typo? Why would there be a lengthy press release about $550,000 for Bauer prior to an announcement of a multi-million gift?
The 238 million figure is accurate from what I've now heard. it's just a function of what gets announced. Some of it maybe is in estate planning so they don't have the money on hand immediately or they are endowments for general scholarship funds that don't really generate a new announcement. If you added up the total amount of money just from what announcements are specifically made I don't think they would add up to 238 million because many people are just giving into the general valpo fund or other less clear cut areas or are going into already established funds or endowments rather than making a new one.
It seems only new areas of funding or larger donations get the full announcement.
Finally an official updated number: $238,189,548! That roughly a $38 million dollar increase in 12 months. Seems reasonable to expect the final
amount to be raised this year.
Since when do campaigns that reach their goal a year early end the campaign a year early? I have never heard of anything like that. Example: I believe that Youngstown State is nearing the end of their most successful capital campaign ever and have already exceeded their goal of I believe $100,000(?) so now they are increasing their goal and continuing the campaign. Why wouldn't we do the same?
Who says we aren't or won't do just that? The campaign is after all called Forever Valpo. What's stopping them from say trying to get it up to $300million by 2025 with a goal of $500million by say 2035 and $1billion by 2050 or something?
Quote from: GoldenCrusader87 on January 30, 2020, 04:37:10 PMWith the sheer number of cuts that seem to be occurring I've lost interest or motivation on this topic. Just doesn't appear we're treading in the right direction. Hope I'm wrong or that these cuts pay off down the road. I was surprised to see the baseball stadium announcement and am excited about that. The renditions look good. As for the ARC, it seems like we've now got bigger fish to fry than renovating the ARC. Again I hope I'm wrong. But night in and night out a half full arena doesn't seem to add to our case that an updated facility would make a difference. Under Bryce we had an identity. Same crappy arena. Same academic standards. Same funding if not less. Same city. Worse conference. But an identity. That place during the NIT was rocking and rolling. Best experience I've had in porter county to date and one of the better sporting environments I've been a part of. Had Bryce stuck around we would've built on that success ... we would've gotten back to the NCAA tournament. We would've sustained student interest and fan support. We would've maintained an identity. Now we're floundering ... or just getting by at best. Really sad. We're satisfied with moral victories and the thought of possibly not having to be in a play in game to advance in the MVC tournament or being in the top half of the league but sitting In 8th?? I just don't see it. Again I hope I'm wrong
As much as I've harped on athletic facilities being a priority (and they should be). Valpo is first and foremost a university tasked with educating and shaping succeeding generations. Of course they have bigger fish to fry than athletics but that would be the case regardless of any cuts or surpluses or any circumstances. The basketball team may be searching for its identity right now but the university certainly isn't. It has one and it's solid. The Drews were and are Valparaiso basketball they are not Valparaiso University.
Quote from: VUGrad1314 on January 31, 2020, 11:47:35 AM
Who says we aren't or won't do just that? The campaign is after all called Forever Valpo. What's stopping them from say trying to get it up to $300million by 2025 with a goal of $500million by say 2035 and $1billion by 2050 or something?
Maybe the coronavirus if it gets too out of hand in China.
As for GoldenCrusader's point about half empty gyms. I think this post from Valpo LI in the MVC Hoops thread will prove instructive. In terms of overall seating capacity we are right on par with our conference peers as this data will show. The problem for us is on the margins because we have a smaller gym. I think renovations will help attract more people but so will winning. Look at the surge in attendance Evansville had when that program had some hope before the McCarty era cratered in the most unceremonious way possible. Attendance shot WAY up. What this fanbase needs is hope and meaningful games in conference. That game late in the year against Loyola Bradley or UNI has to MEAN something. THAT will get people in the door regardless of what the gym looks like and the NIT and some of the games while we were in the HL (even post-Butler era) are examples of that. We drew at or near 5000 for games against Wright State and Green Bay if my memory serves. Why? Because we were winning and those games mattered. Winning is the best and surest cure. Win and make the games matter and people will come. It's that simple.
Quote from: VALPO LI on January 28, 2020, 09:26:54 PMAs I watch our Crusaders battle at home in the ARC this season I have to wonder where we stand with our attendance for the 2019-20 season and how does that compare with the rest of the Valley. With non conference games behind us, 4 conference home games played and 5 left here is the total average number of spectators attending MVC Home Games for this season. School. Home record. Avg. in attendance. Bradley (11-1) 5,700 Evansville (5-5) 5,232 IllSt. (6-4) 4,521 SIU (9-1) 4,114 MoSt. (7-3) 4,081 UNI (11-0) 3,894 ISUb (8-0) 3,554 Valpo (7-1) 2,878 Drake (11-0) 2,870 Loyola (9-2) 2,789 Average home attendance in the MVC 3,963 Now it is only fair to compare the average attendance to the capacity of each arena. UNI McLead Ctr. Holds (6,650) and is filling at an average of 59% capacity. Valpo ARC (5,100) 57% Loyola Gentile Ctr. (4,963) 57% Evansville Ford Ctr. (10,000) 53% Bradley Carver Arena (11,060) 52% ISUb Hulman Ctr. (10,200) 52% SIU Banterra Ctr. (8,284) 50% IllSt. Redbird Arena (10,200) 45% Drake Knapp Ctr. (7,152) 40% MoSt. JQH Arena (11,000) 37% *for our good friend 1314 here is Murray State. **and while I am at it let's include Belmont a school that plays in a similar size arena to Valpo. Murray St. (10-0) 4,307 avg. attendance at the CFSB Ctr. which holds 8,600 fans 51% full. Belmont (8-1) 1,990 avg. attendance at the Curb Event Ctr. which holds 5,000 fans at 40% full. With 5 home games left Valpo needs a strong showing to stay ahead of Drake and Loyola in overall attendance.
I mean it's not like they are going to stop trying to get money for different things just cause this campaign is ending but $250 million in mostly endowment focused funds is a nice chunk of change and there's nothing wrong with putting a bow on it and moving on to the next fundraising focus. The next president will probably have new ideas about the direction of the university and will most likely want to have input into the next campaign. I'd personally love to see one focused on Athletics and Student Life. Let's get some endowments for the student newspapers and radio stations. Let's work to bring restaurants and other stuff closer to campus or even on campus. Lord knows the university owns tons of property they should really work to make the most of that.
It is very good news that the $238 million figure is correct. A remarkable $18 million increase in just a couple of months. What we need now is an announcement telling us where the money is coming from and for what it is intended.
https://www.valpo.edu/forevervalpo/2020/02/06/historic-gift/
Well here's where the rest of it is coming from.
I mean scholarship endowments are great and all but our dorms still need upgrading and athletics still needs a lot of attention... I hope there's a plan for this stuff soon though in the current era I don't think our facility matters much. if you're lacking on the sidelines it doesn't matter the sight lines. Also in the article it states that they have raised $238million so I don't think we're done yet. It's also hard to square the notion that things are going so well with the fact that we've lost
The Law School
The Japanese program (effective after next year according to the chair of the department I happened to run into yesterday which makes me sad as a former student of that program)
Men's Soccer
Men's Tennis
within a span of just a couple of years.
Scholarships are great but what good are they when you're constantly shuttering programs left and right because you have to pay for buildings you can't fully use because you didn't use the main marketing tool you had (athletics namely basketball success) to boost interest and enrollment first before embarking on this? This whole thing just feels like a mishmash of misplaced priorities and it makes me sad and makes me worry about the survival of the university as a whole as well as its viability as a mid major power in college basketball.
A strong endowment means that you don't have to spend as much money on an annual basis which means you have more money to work with to do upgrades and other things.
If students can't afford to come to valpo and we can't afford to keep discounting their tuition to get them here upgrades to facilities don't matter at all.
Quote from: VUGrad1314 on February 06, 2020, 10:49:20 AM
I mean scholarship endowments are great and all but our dorms still need upgrading and athletics still needs a lot of attention... I hope there's a plan for this stuff soon though in the current era I don't think our facility matters much. if you're lacking on the sidelines it doesn't matter the sight lines. Also in the article it states that they have raised $238million so I don't think we're done yet. It's also hard to square the notion that things are going so well with the fact that we've lost
The Law School
The Japanese program (effective after next year according to the chair of the department I happened to run into yesterday which makes me sad as a former student of that program)
Men's Soccer
Men's Tennis
within a span of just a couple of years.
Scholarships are great but what good are they when you're constantly shuttering programs left and right because you have to pay for buildings you can't fully use because you didn't use the main marketing tool you had (athletics namely basketball success) to boost interest and enrollment first before embarking on this? This whole thing just feels like a mishmash of misplaced priorities and it makes me sad and makes me worry about the survival of the university as a whole as well as its viability as a mid major power in college basketball.
As 05 said, endowment wags the dog. Cost cutting is a part of every university including wealthy ones like Vanderbilt. I'm curious--how many students were in the Japanese program? Programs come and programs go. As for the law school--it was a losing proposition as we had trouble (got into trouble) by taking people who couldn't end up passing the bar. So our academic reputation as an institution was damaged. That, in and of itself, may have driven possible students to a different school.
Look, we closed a money eater when we closed the law school. We can mourn its loss or acknowledge that many law schools are closing, the profession is not as attractive as it once was and so it joins our Medical and Dental schools as things of the past.
The soccer team closing down is an interesting situation. It is obvious on the surface that we had a title 9 problem but its deeper than that. There are only 5 schools in the Valley who still have a men's soccer program. We had more athletic programs than anyone else and we are the second smallest school. Looking deeper, imagine the cost of the men's soccer program. Last year's team had players from TEN different countries!! We had to recruit internationally in the hopes of being able to compete. Heck, we had Indiana's Mr. Soccer on the team and he didn't even start! In spite of the enormous cost of recruiting internationally (these kids didn't pick Valpo out of a phone book), we finished 5th of 6.
It is a tough environment financially across the board. That is well documented--it clearly isn't just Valpo. We've cut some programs but--added others. Endowment, both for scholarships AND athletics, is crucial. That is in part I'm sure why one couple designated $2 million of the $238 million raised to date, to endow Men's basketball recruiting. Other money raised was to complete Hilltop as well as start the renovation of Bauer.
We need a new drive dedicated to just athletics, but first things first. The well is just so deep. St. Joes had some nice athletic facilities which are now gathering weeds, I'm sure. Having shiny new bleachers didn't save it from going to the dust heap of history.
This video about St. Joes is telling. Their students were getting a 65% discount on their educational expenses. Their endowment shrank from $24 million to $6 million (they only had 900 students.
https://media.gannett-cdn.com/indianapolis-mobile/201702/220/35547429001_5314781116001_5314748055001.mp4
Taking on debt to build new facilities to increase enrollment which didn't pan out. That sounds chillingly close to what's going on here. We built with an eye toward growing to 6000. We're nowhere close to that.
ahhhhhh for the last time the university took on debt to build dorms that replaced old ones mostly and built buildings that replaced old ones or met current needs.
There never was a"built it and they would come mentality" the plan for 6,0000 students included building like 3 new dorms than what are already on campus and a ridiculous amount of new buildings. Everything they built now was just so the students they currently have would have adequate facilities.
Crusader05, I think you are misreading the news release. If the $15 million stacks on top of the new $238 million total, then the news article would have noted in a celebratory way that this gift takes you past the original $250 million goal! In fact that milestone would have been trumpeted with flying confetti as a crown for St. Mark. It's far more likely that the huge $15 million gift created the big jump UP to $238 million in the recent months.
Also, you will see on a close look that the gift is "deferred." This typically means that the university receives it when the donor(s) passes away.
I may EXPECT a really big inheritance of $15 million from my rich uncle because he told me it's coming. But if my uncle is only 60 years old then I probably shouldn't count on spending it any time soon.
I did not misread. My "where the rest was coming from" was in relation to the poster directly before me wondering where the rest of the money that got us to 238 million was from. I apologize if that was not clear.
Also, I do understand what deferred means. It's not uncommon for endowment drives to raise money through estate planning like this. You may not like it and think it shouldn't count or whatever but that doesn't change the fact that this is pretty much how it works all across the board.
It is very clear you have no enthusiasm or love for this endowment drive and are insistent on diminishing anything that happens and that is your choice but perhaps in the future you could work to not speak to other posters like they are children. Especially since I have in the past in fact posted about how gifts can be in estates and not immediately in the university hands.
A few comments:
-moe raised concerns about donations being deferred and somehow questionable. While I would guess that actual contributions made over time are not 100% of what was committed, my guess is that it is pretty darn close. These donors are highly successful in their lives and have a close relationship with Valpo. They are likely very sincere in meeting any commitments made and Valpo is likely risk averse (i.e. they are not going to count something that they believe is not near certain). Thus, deferred donations (from estates, etc.) are essentially as good as real-time donations.
-Some posters argue that Valpo went on a 'building spree' to allow for 6000 students, but the facts just do not support that. Most of the new buildings replaced existing buildings that were dated (science building, library, union).
-How can you fault someone or a group of individuals for donating money to scholarships? All that they are doing is helping make it more affordable for students to get an education and making Valpo more competitive.
-A good organization needs to trim and add over time. It probably made sense to trim the men's tennis and soccer teams, but the actions to cancel these programs needed to be done in a manner that was more respectful of the players and coaches. In retrospect, they probably should have pulled the plug on the law school far earlier (hindsight being what it is). But Valpo has added programs that make a great deal of sense moving forward (e.g. bioengineering, physician's assistant).
https://www.cu-portland.edu/closure
This is an interesting situation. They were taking the Concordia Chicago model of a small undergrad/large grad school population--as in 1500 undergrad, 4000 grad. I have looked but haven't been able to find out exactly how large their endowment was but Chicago's is about 24 million.
Quote from: vu72 on February 11, 2020, 11:13:38 AM
https://www.cu-portland.edu/closure
This is an interesting situation. They were taking the Concordia Chicago model of a small undergrad/large grad school population--as in 1500 undergrad, 4000 grad. I have looked but haven't been able to find out exactly how large their endowment was but Chicago's is about 24 million.
Actually, this is a very odd situation. Apparently Portland partnered with an online provider called HotChalk to provide online Masters degrees in Education with the Concordia name, causing a dramatic spike in the number of grad school students who were enrolled online. This culminated in lawsuit from the Department of Education in 2015 that was settled for $1M, though the university admitted no wrongdoing.
The university showed a net profit in eight of the last ten years (FY 2009 - FY 2018), to the tune of $23M over that period. They did have a big loss of $7.9M in FY2017, followed by a net income of $715K in FY2018. (For reference, total revenues were $33.7M in 2009, peaking at $173M in 2015, and down to $113M in 2018). It is possible that the online education revenues were drying up entirely, such that there was a structural deficit hidden by the massive spike in tuition from the online programs. Or, there was some kind of financial misdealing where revenues were brought forward from the online provider.
As near as I can tell, Concordia Portland had no significant endowment.
You can read more about the the circumstance here:
https://www.insidehighered.com/news/2020/02/11/lutheran-college-portland-will-close-after-spring-2020-semester (https://www.insidehighered.com/news/2020/02/11/lutheran-college-portland-will-close-after-spring-2020-semester)
https://www.oregonlive.com/portland/2016/10/concordia_gained_thousands_of_new_students_--_and_a_federal_inquiry.html (https://www.oregonlive.com/portland/2016/10/concordia_gained_thousands_of_new_students_--_and_a_federal_inquiry.html)
The campaign is flying along! Just had lunch with a Valpo representative who told me the current total is now at $244 million because of another very large gift--no, it didn't have anything to do with athletics. :(
Quote from: vu72 on February 19, 2020, 01:47:33 PM
The campaign is flying along! Just had lunch with a Valpo representative who told me the current total is now at $244 million because of another very large gift--no, it didn't have anything to do with athletics. :(
Anyone know if time wise we are on schedule to hit the goal that was set-or if there was one?
Quote from: Valpo2013 on February 19, 2020, 03:49:24 PM
Quote from: vu72 on February 19, 2020, 01:47:33 PM
The campaign is flying along! Just had lunch with a Valpo representative who told me the current total is now at $244 million because of another very large gift--no, it didn't have anything to do with athletics. :(
Anyone know if time wise we are on schedule to hit the goal that was set-or if there was one?
I believe it is set to close June, 2021. They fully expect to beat the deadline, maybe a year early.
The Forever Valpo website still shows funds raised at $238 million. I have not seen any announcements about another major gift raising the total to $244 million as stated in an e-mail two weeks ago.
Can anyone provide any additional info?
Not yet but the announcement they made it to 238 million was a bit ahead of the official announcement of the $15 million gift and then they updated the website.
Still wondering how much actual cash-in-hand has been received by the endowment funds since the 2011 actual start of the "biggest campaign in Valparaiso history."
It sounds like they received a lot of promised gifts that will land in the future. Those are validly counted in the $238 million. But they don't address the current and near term crisis.
Quote from: crusadermoe on February 29, 2020, 11:50:56 AM
Still wondering how much actual cash-in-hand has been received by the endowment funds since the 2011 actual start of the "biggest campaign in Valparaiso history."
It sounds like they received a lot of promised gifts that will land in the future. Those are validly counted in the $238 million. But they don't address the current and near term crisis.
Good question. I have no idea other than what we know from various news releases. There are of course monies raised from The Valpo Day of Giving, which is included in these funds. That's about $725,000 per year. If the gift says "received", as in "Valparaiso University has received a gift of $1.8 million from the estate of STEPHANIE E. UMBACH '59" , then its cash in the bank. If it says "Valparaiso University has received a landmark $15 million deferred gift commitment" then its not.
Many of our wealthy donors are getting up in years so I would expect a lot of funds coming in in the next 5-10 years for sure.
This article in another thread has me feeling much better about the financial situation. Many Summit League members have a minuscule endowment!
https://kelo.com/news/articles/2020/mar/05/augustana-has-applied-for-summit-membership-but-it-will-be-an-uphill-climb-for-invite/991736/
Quote from: valpotx on March 06, 2020, 09:19:30 PMThis article in another thread has me feeling much better about the financial situation. Many Summit League members have a minuscule endowment! https://kelo.com/news/articles/2020/mar/05/augustana-has-applied-for-summit-membership-but-it-will-be-an-uphill-climb-for-invite/991736/
Glad I could help. :)
New total up! Now $246,826,231. Still no announcement concerning major gifts though this is $11 million since the $15 million dollar gift.
Less than a month after the last update the new total is $249,520,753, an increase of $2,694,522 in about a month. If the Day of Giving had happened on March 18 the $250,000,000 goal would have been easily hit. Goodness only knows how the market collapse will effect all this.
I personally think that once we get to our goal we should just continue the campaign with a new goal but simultaneously push other needed projects to the fore as well if market conditions allow us to do so. Otherwise it would be a very good idea to just keep the endowment drive going at least through the lean times. It's always good to have a nest egg for times like this. It's interesting to me how people like myself were a little annoyed that we were focusing on endowment growth when we had so many other needs (and our own individual priorities like athletics for me) yet the foresight and forethought of starting this program when we did has given the university a much greater chance of surviving this pandemic. I can only imagine where we would be if we hadn't worked to grow the endowment over the previous decade. We would probably be much worse off right now.
I recall hearing a couple of months ago that we should wait until March for perhaps an announcement Re: athletics or maybe facilities Any truth to that or anything new on the facility funding?
I agree VUGRAD We should probaby continue to grow the enrollment right now if possible. Especially as it will be taken a hit and many universities may even have to dip into it to cover lost expenses. I think about how both the Jazzfest and the Lutheran Basketball Tournament were cancelled plus any camps and conferences from the summer or even during the year is lost income.
I do wonder too what could be financed with low interest bonds if possible as well.
Yeah if we have good practical things we need to upgrade (Dorms Athletic facilities for starters) now would be a great time to borrow while keeping the focus on the endowment drive with very little risk to the university because they are employing a long term strategy to finance short term projects. Begin construction when safe to do so of course.
The Forever Valpo campaign stands now at $249,520,753. Less than $500,000 to go.
Day of giving is coming! Valpo is going to need all the support anyone can muster up. Should hit that goal very soon.
They should absolutely extend this campaign even after reaching their goal. I think endowment growth will really help ensure the long-term health of the university.
Or immediately start a new campaign, which focuses on sustaining the university through and beyond the crisis. Different parameters and a different message than the forever Valpo campaign.
Wouldn't it be better to extend the goal of Forever Valpo to $300 million rather than start a brand new campaign? There will certainly be another campaign in a few more years, but it takes a lot of time and effort to plan and launch an entirely new one. If there is momentum for Forever Valpo, let's keep it going.
Absolutely not. The $250M was well advertised and the Valpo community needs to celebrate this accomplishment. It's like having a runner completing a marathon and then asking him or her to run another 5 miles. A moving target of such an important mission loses significance.
You may want define an emergency fund or a new mission, but in a journey or project the celebration based on a defined, challenging goal is imperative.
The campaign should just keep going until you inauguration of a new guy. There's nothing to lose by adding a few million even it it only adds slowly without big new gifts. Thus, Heckler can add to his 9-year total raised and maybe go 9.5." It still won't last "forever..."
But enough calling it the ."biggest ever" as thought that had any meaning. On a per year basis Harre raised $235 million in five years. I know you guys are tired of hearing it, but that calcuates to $47 million per year as compared to less than $28 million per year. It's in reality a big step backward during a 10-year period when the stock market tripled.
No. If you increase the target during the campaign, which has gone on for awhile, then the campaign loses credibility. There needs to be a point where you need to breathe and say job well done. start something new or have an emergency fund, but altering the current campaign almost at the finish line it at the end lacks integrity and class.
Quote from: usc4valpo on April 25, 2020, 03:13:14 PM
No. If you increase the target during the campaign, which has gone on for awhile, then the campaign loses credibility. There needs to be a point where you need to breathe and say job well done. start something new or have an emergency fund, but altering the current campaign almost at the finish line it at the end lacks integrity and class.
I am aware of other circumstances where targets have been increased after the campaign has started. However, this usually happens if the goal is exceeded (or is projected to be exceeded) much quicker than expected. Given that this current campaign is now in its fourth year, I would expect that there would be an announcement of an end date, with perhaps a push to exceed the goal of $250M. Then, there can be a celebration of the end of the campaign, recognition of additional gifts, and a bit of a down period before planning the next campaign. That doesn't mean the fundraising stops, just the public phase is over.
Quote from: valpo95 on April 26, 2020, 07:34:15 PM
Quote from: usc4valpo on April 25, 2020, 03:13:14 PM
No. If you increase the target during the campaign, which has gone on for awhile, then the campaign loses credibility. There needs to be a point where you need to breathe and say job well done. start something new or have an emergency fund, but altering the current campaign almost at the finish line it at the end lacks integrity and class.
I am aware of other circumstances where targets have been increased after the campaign has started. However, this usually happens if the goal is exceeded (or is projected to be exceeded) much quicker than expected. Given that this current campaign is now in its fourth year, I would expect that there would be an announcement of an end date, with perhaps a push to exceed the goal of $250M. Then, there can be a celebration of the end of the campaign, recognition of additional gifts, and a bit of a down period before planning the next campaign. That doesn't mean the fundraising stops, just the public phase is over.
Clearly if the Day of Giving would have happened in March, the 250M would have been exceeded as we only need another 500k and the Day of Giving has raised about 725k each year.
Day of giving is coming...
Day of giving is on May 12! I think it's outstanding the entire Valpo family is going to be the ones to make this campaign hit its goal. If you're able, let's show some extra support for our university that day.
Quote from: M on April 21, 2020, 02:11:59 PM
Day of giving is coming! Valpo is going to need all the support anyone can muster up. Should hit that goal very soon.
[tweet]1264576209620553731[/tweet]
Quote from: valpopal on May 24, 2020, 10:26:59 AM
Quote from: M on April 21, 2020, 02:11:59 PM
Day of giving is coming! Valpo is going to need all the support anyone can muster up. Should hit that goal very soon.
[tweet]1264576209620553731[/tweet]
A truly remarkable result! I was thinking that the limited exposure on the Valpo site that day would certainly have less than a great result. I was clearly wrong! A record result! Anyone who thinks that all small colleges think they are "special" have no idea what Valpo is all about. Wonderful news and now we are over the 250M goal!
I wonder if any of the gifts were dedicated to ARC updates. I remember hearing a few months ago that perhaps an announcement would be made in March regarding ARC improvements but nothing more was heard. Even if funds have been dedicated to the ARC project, perhaps this would not be the best time to announce same. Who knows...wishful thinking I guess.
The United States just self-destructed economically in what seems like a nanosecond. The stock market has tanked. Unemployment could reach Great Depression levels. We have representatives in government playing politics with the pace of recovery. We have a national election in November that could put a stranglehold on future growth. The last thing people of means are thinking about right now is which charitable cause to donate large sums of cash.
Quote from: wh on May 24, 2020, 02:48:47 PMThe stock market has tanked.
Don't jump off a bridge just yet.
Through last Friday, May 22, here are the Year to Date results:
Dow Jones Industrial Average: -8.94% 2019: +22.3%
S & P 500: -8.52% 2019: +28.9%
NASDAQ Composite: +3.92% 2019: 35.3%
You'll be OK.
You would think VU would be rushing to get out the news we have reached the $250 million fundraising goal (assuming the Day of Giving pushed us over the top). I believe the $250 million represents the largest fundraising campaign of any Lutheran university in history. Making this announcement would be a most welcome piece of good PR for the University.
Paul
Quote from: 78crusader on June 15, 2020, 11:43:29 AM
You would think VU would be rushing to get out the news we have reached the $250 million fundraising goal (assuming the Day of Giving pushed us over the top). I believe the $250 million represents the largest fundraising campaign of any Lutheran university in history. Making this announcement would be a most welcome piece of good PR for the University.
Paul
Totally agree and clearly the Day of Giving put us over the top as we were only 500k short and the Day of Giving raised 750k. My only guess is that they are working on another large gift which would make the accomplishment that much bigger rather than announcing "we barely made it"!
Probably not something to celebrate too much about since VU has payed off so many people, forced pay cuts on the remaining employees, and have cut contributing to retirement accounts.
It's so strange that we could be in this great big endowment drive and yet have these horrible financial issues. Are we going to survive?
Quote from: M on June 21, 2020, 06:48:34 PM
Probably not something to celebrate too much about since VU has payed off so many people, forced pay cuts on the remaining employees, and have cut contributing to retirement accounts.
Not unlike any other financially responsible institution. You forgot to mention that.
Didn't forget anything...IMO it'd look pretty bad to celebrate all the money you've raised when you're in the midst of cutting back. I know that's run me the wrong way if I were on the receiving end of one of these cuts.
I think the fundraising and how you manage the budget are 2 different things. There are likely opportunities at Valpo, perhaps high salary middle management positions, to trim the fat.
Quote from: M on June 21, 2020, 11:19:55 PM
Didn't forget anything...IMO it'd look pretty bad to celebrate all the money you've raised when you're in the midst of cutting back. I know that's run me the wrong way if I were on the receiving end of one of these cuts.
The fund raising started well before this pandemic hit us. Should we not be grateful? Should we not celebrate the incredible loyalty of the alumni? The necessary cuts are unfortunate as are the millions of others who have lost jobs. As with any industry, when tough times hit it requires a reassessment of priorities and budgets. Every company is doing the same thing or are closing their doors. Two separate items.
I guess we disagree on the optics. No biggie.
As much as this sucks, I agree with 72. I know it is a nonprofit institute of learning, but you have to carry out business savvy to run this operation. What areas of the university are providing little or no value? It's tough and it sucks, but these decisions have to be made to stay afloat.
I'm not disagreeing that they are making right or wrong decisions...I'm saying they probably shouldn't put out too big of a celebration for raising the most money ever (or whatever the distinction would be) when you've made or are making cuts to your employees, their pay, their benefits.
I'm clearly in the minority though, so I'll show myself out.
Quote from: M on June 22, 2020, 11:23:30 AM
I'm not disagreeing that they are making right or wrong decisions...I'm saying they probably shouldn't put out too big of a celebration for raising the most money ever (or whatever the distinction would be) when you've made or are making cuts to your employees, their pay, their benefits.
I'm clearly in the minority though, so I'll show myself out.
(https://i.imgflip.com/24qx7.jpg)
Only because it fits. I'm actually pretty neutral on this one.
St. Olaf has announced that its capital campaign has raise $252 million.
The original goal was $200 million, but the college kept the campaign going even after surpassing the target.
Is Valparaiso doing the same? I recall a couple of Forum members who expressed the opinion that there was no reason to try for a higher amount.
It is ok to take in more, but you don't raise the target in the middle of the effort. It is incredibly tacky. It's like a running a marathon and at mile 25 they ask you to run an additional 5 mi. It would be a classless move.
.
These big and complex campaign goals are a two-edged sword.
When you use counting rules that maximize the buzz of the total you proclaim, you create a disconnect when you run short on cash. It can be explained, but it's awkward. If you peel away the layers of that $250 million onion Valpo has achieved, I suspect you would find less than $20 million was raised in spendable cash for the budget and that it was spent as fast as it was raised. That cupboard is probably bare.
The big universities started this "peacock race" to throw billion dollar goals out there into the headlines and compete in the public eye. The numbers aren't all cash of course, and now their puffed up fund-raising totals have drawn attention from congress and from the state legislatures who apportion money to them. The private universities like Valpo only have to answer to their puzzled employees, alumni, and donors.
Resetting a campaign goal before it is finished isn't that unusual. I don't know what our situation is but we surely should not quit before it is over even if we surpass our original goal.
Quote from: valpo64 on July 15, 2020, 01:01:16 PM
Resetting a campaign goal before it is finished isn't that unusual. I don't know what our situation is but we surely should not quit before it is over even if we surpass our original goal.
We are clearly over the original goal. Total posted says 249,520,753. We raised 750,000 on the Day of Giving, which is more than enough. That was in May! I doubt all of our fund raisers have been furloughed! As I recall the stated close date was June, 2021 and I may be way off on that. Hopefully they are negotiating on some very large gifts to top it off near 300mil
crusadermoe - The way that you frame "cupboard is bare" is misleading (at best). In "normal times", the principal is retained and funds are paid out annually (often to things that would be in an annual budget, such as scholarships) from money earned on the principal. You can say whether you like that or not - but that is the definition of endowment, as they are structured to run in perpetuity. Admittedly, I do not know how they account for donations from wills and trusts. But the principal "in hand" from the endowment campaign is probably much more than $20M.
They can also draw on the principal in times of crisis. Some money (my guess is less than 50%) is not tied to a specific use, so they could use that money immediately. They can also go back to donors and ask if money can be used in a different manner than its original purposes. So as a last resort, they do have endowment funds that they can draw on for the crisis.
As far as current campaign ending or being extended, I think there is a pretty simple solution. Declare victory on the Forever Valpo campaign and start a new one that focuses on necessary funds to sustain the university in the COVID-19 crisis. Heck, I am not even sure you need a new campaign...just start contacting current and potential donors and explain the situation.
Fair points. I meant that the cupboard after the campaign is not full of any non-endowment reserves. But that is a great point.
The $200 million question for Valpo is what the market will do in this year or next. At 5% that is $10 million in payout to the budget. So far so good in the market and there should be some gain built in already from market growth.
There is probably a reason why the VU fundraising campaign page hasn't been updated since April. But I can't think of a good one.
Paul
Quote from: 78crusader on September 03, 2020, 09:19:49 AM
There is probably a reason why the VU fundraising campaign page hasn't been updated since April. But I can't think of a good one.
Paul
[/quote
I spoke with Jake Sale the other day and asked him about that. He said that the concern was that announcing a big success during difficult times, both financially and health wise, didn't seem right. So the decision was to delay an announcement. It should be coming shortly. Clearly they are still in the raise process.
New total posted...$252,400,883...and continuing...
The recent press release regarding the newest endowed professorship reports that Forever Valpo has now topped $254 million.
Congrats on that big gift!
Let's hope that the whole pandemic gets solved soon and that we can on track with solving that huge budget deficit. This new gift will help to the tune of about $200,000 when they start spending that gift at a 5% annual rate.
A bit over $255 million as of 10-09-20
Paul
Quote from: 78crusader on October 09, 2020, 04:50:01 PM
A bit over $255 million as of 10-09-20
Paul
So the campaign was announced in September of 2016 with a committed total of $135 million. Four years later in September of 2020 the total is at $255 million. That is an average of $2.5 million raised per month over four years. They have now announced that the campaign will continue for another two years. Could that mean an additional $60 million? I doubt it as the "big hitters" are already being counted. If we made it to $300 million it would be remarkable. Of course a $30 million dollar commitment to athletics would certainly help!!!
New total: $257,214,384. That continues the pace of about 2-2.5 million committed per month since the launch.
New Total: $258,573,339. That's about another $1.4 million in 30 days.
All in all, I think this has been a solid, successful fundraising campaign that can pull in a few more chunks of money before they close it out.
While we might look enviously at schools mentioned in the same breath as VU that can and have raised more $$$, a lot of comparable schools would not be able to pull this off. Many would consider a $250m goal to be extremely unrealistic.
So at least VU will welcome a new President with an enhanced alumni culture of giving.
Indeed we are neither the best or the worst. There's no question that there have been some very impressive gift amounts!
In saying that an alumni culture of giving in general under Heckler, one should ask, "What was the alumni giving percentage in 2008 vs 2018?
Maybe someone has access to those stats.
New gift announced with a statement at the bottom saying it's the campaign is now over 260 million
https://www.valpo.edu/forevervalpo/2016/09/23/valparaiso-university-receives-commitment-for-lcms-pastoral-ministry-and-chapel-programs/
Quote from: crusader05 on December 22, 2020, 03:39:16 PM
New gift announced with a statement at the bottom saying it's the campaign is now over 260 million
https://www.valpo.edu/forevervalpo/2016/09/23/valparaiso-university-receives-commitment-for-lcms-pastoral-ministry-and-chapel-programs/
Great to gain a further donation, but this seems a bit at odds with the statement below regarding faith (as part of student life) at the university. LCMS is not independent. Would Valpo accept donations associated with other Lutheran groups?
Quote from Valpo website (regarding student life):
Your spiritual journey will be encouraged and strengthened no matter your path. As an
independent Lutheran institution, faith is in our nature. Whatever your tradition, you will find a caring community that will support you in your spiritual life.
Quote from: vu84v2 on December 22, 2020, 04:26:17 PMWould Valpo accept donations associated with other Lutheran groups?
Yes, and they have. If memory serves correctly, the ELCA Pastor position at the Chapel was funded by a gift that specifically stated that the position funded by the gift would have to be a female, ELCA minister.
Quote from: vu84v2 on December 22, 2020, 04:26:17 PM
Quote from: crusader05 on December 22, 2020, 03:39:16 PM
New gift announced with a statement at the bottom saying it's the campaign is now over 260 million
https://www.valpo.edu/forevervalpo/2016/09/23/valparaiso-university-receives-commitment-for-lcms-pastoral-ministry-and-chapel-programs/
Great to gain a further donation, but this seems a bit at odds with the statement below regarding faith (as part of student life) at the university. LCMS is not independent. Would Valpo accept donations associated with other Lutheran groups?
Quote from Valpo website (regarding student life):
Your spiritual journey will be encouraged and strengthened no matter your path. As an independent Lutheran institution, faith is in our nature. Whatever your tradition, you will find a caring community that will support you in your spiritual life.
Of course. We are independent of LCMS or ELCA or Wisconsin. It isn't that LCMS is independent of us. We get zero financial support from any of them other than an independent congregation deciding to make a donation. This is way more independent than, say, Concordia Chicago (a LCMC school) or Augustana ) ELCA school)
As you probably know, Valpo has pastors from both LCMS and ELCA on staff. That wouldn't be acceptable any any Lutheran college that wasn't independent.
The way I read it is that there is already an endowment that supports the pay of the ELCA Pastor and this endowment will support the pay of the LCMS pastor as well as any other chapel programs. The way I understand the "independent" part is not that they don't acknowledge the different synods, they clearly do as they have a pastor from each, but that they exist together within the chapel and the university as a whole is not specifically aligned with one synod.
vu72 and crusader05 - Thanks for the responses. That all makes perfect sense.
Updated total posted today: $261,138,445
How about anything above $250,000,000 going to ARC renovation. :)
How about anything over $250M going to making up lost revenues and covering costs associated with the pandemic?
Again, please remember that the VAST amount of these dedicated funds will come into use in the, in some cases, distant future. I would think that some, and perhaps a great deal, may come sooner however given the age of certain very wealthy alumni.
When you contribute to the Crusader Fund however, that money is counted and obviously available immediately.
Quote from: Valpo2010 on January 15, 2021, 07:01:00 PM
Updated total posted today: $261,138,445
Pace is definitely slowing. New total posted at $261,771,778 adding $633,333
It lasts forever. Ten years and counting now. They counted the 2011 chapel gift.
New total, $8.5 million increase which is amazing at this point in the drive. Presume that include the $1 million raised on the Day of Giving. New Total= $269,613,440!!
The pace of growth is creeping to a halt. A gain of a bout 1 million in about two months, still a remarkable total, now at $270,614,691. I looked back to see when this all started. It was launched September 23, 2016 so 58 months ago. It was launched with $135,628,640 pledged go a growth of $2,327,346 per month since then!!
I wonder when it will end? At the 5 year mark in two months? It seems the drive is pretty much out of gas so perhaps time to stop--officially, so that a needed break occurs prior to starting the next drive. Let's hope some of that money shows up soon! (with no ill intent for people whose pledge is tied to their demise!)
Quote from: vu72 on July 12, 2021, 09:43:07 AM
The pace of growth is creeping to a halt. A gain of a bout 1 million in about two months, still a remarkable total, now at $270,614,691. I looked back to see when this all started. It was launched September 23, 2016 so 58 months ago. It was launched with $135,628,640 pledged go a growth of $2,327,346 per month since then!!
I wonder when it will end? At the 5 year mark in two months? It seems the drive is pretty much out of gas so perhaps time to stop--officially, so that a needed break occurs prior to starting the next drive. Let's hope some of that money shows up soon! (with no ill intent for people whose pledge is tied to their demise!)
Are you trying to tell rich Valpo grads not to watch the movie "Die Hard?" ;)
The big number "arms race" campaign counting method is going to get sticky for most colleges when budgets are straining.
Some Valpo parents or staff or alumni might perceive the big "Forever" numbers as cash flowing in to rescue or offset tuition. The flagships and elites get away with the big brag campaign strategy with a billion in the goal because they will always attract a waiting list of students. it's for bragging rights and no one gets miffed.
But the fuzzy math of campaigning could get touchy at the other schools and plays with fire a bit. Adding up a $270 million total Forever number over 10 years of campaigning is pretty pointless when you are dealing with apples and oranges. How is there really much relevance in adding up four highly different items: cash in, construction giving, saved endowment, and promises of future estate gifts at date unknown?
New total posted: $274,966,853
Yeah! The amount distributed to the budget over 10 years has been......?
Quote from: crusadermoe on August 26, 2021, 09:05:48 AM
Yeah! The amount distributed to the budget over 10 years has been......?
Hard to say. The last number in the bank was 254 million. Typically an organization will draw 5% so that would be about 13 million. Obviously, 10 years ago the number wasn't that big so I would guess somewhere around 85 million. If and when we actually get the new 274 million and bring the total up to over 500 million, then the number can really have an impact.
I think the campaign total and the banked endowment are two different things. But the numbers are coincidentally pretty similar.
Either way it will be interesting to hear how deeply Valpo had to discount the tuitions for the students who enrolled this fall. And the new student number naturally has to net against the the departing transfers and seniors. Hopefully, their "discount rate" decreased somewhat. Net tuition is the relevant financial point for the board and for Moody's ratings etc.
Quote from: vu72 on August 26, 2021, 02:23:14 PM
Quote from: crusadermoe on August 26, 2021, 09:05:48 AM
Yeah! The amount distributed to the budget over 10 years has been......?
Hard to say. The last number in the bank was 254 million. Typically an organization will draw 5% so that would be about 13 million. Obviously, 10 years ago the number wasn't that big so I would guess somewhere around 85 million. If and when we actually get the new 274 million and bring the total up to over 500 million, then the number can really have an impact.
The Forever Valpo money will actually arrive in big and little clumps over the next couple of decades, so there may never be a point where it feels like the school is $274m richer.
My very modest scholarship created as part of the campaign, for example, is a combination of annual gifts + a bequest. Unless I can dramatically increase my monthly giving, the scholarship likely won't go "live" until my bequest is received, because there won't be enough principal in the fund from which to draw a sufficient %.
The delayed cash benefit is the standard nature of these big capital campaigns, and it illustrates the costs of VU's somewhat later entry into the world of bigger league fundraising. That's why old money -- defined here as endowment contributions made decades ago and allowed to grow -- is always best. Playing catch-up ball is much harder.
It may be just my hazier memory, but I cannot recall a lot of news about fundraising campaigns coming out of VU when I was an undergrad (1977-81), and as someone very active in both the Torch and student government, we were paying attention to such things. Both Presidents Harre and Heckler deserve credit for bringing VU into the more modern era of university fundraising.
Quote from: David81 on September 01, 2021, 10:36:29 AMIt may be just my hazier memory, but I cannot recall a lot of news about fundraising campaigns coming out of VU when I was an undergrad (1977-81), and as someone very active in both the Torch and student government, we were paying attention to such things. Both Presidents Harre and Heckler deserve credit for bringing VU into the more modern era of university fundraising.
I tried to dig up some old numbers and the furthest back I could find was 2011 when the endowment was at $163 million. So about 100 million growth over 10 years. I recall Alan Harre telling me that OP didn't believe strongly in endowment so it's been an uphill battle since he retired in 1968. In fact Albert Huegli's bio, (Huegli succeed OP and was President from 1968-1978) says that he grew the endowment from $1.7 million :o to $10 million when he retired. Wow! We have come a LONG way!
Quote from: vu72 on September 01, 2021, 11:21:11 AM
Quote from: David81 on September 01, 2021, 10:36:29 AMIt may be just my hazier memory, but I cannot recall a lot of news about fundraising campaigns coming out of VU when I was an undergrad (1977-81), and as someone very active in both the Torch and student government, we were paying attention to such things. Both Presidents Harre and Heckler deserve credit for bringing VU into the more modern era of university fundraising.
I tried to dig up some old numbers and the furthest back I could find was 2011 when the endowment was at $163 million. So about 100 million growth over 10 years. I recall Alan Harre telling me that OP didn't believe strongly in endowment so it's been an uphill battle since he retired in 1968. In fact Albert Huegli's bio, (Huegli succeed OP and was President from 1968-1978) says that he grew the endowment from $1.7 million :o to $10 million when he retired. Wow! We have come a LONG way!
Interesting. I remember going to the Kretzmann home with my relative and wondering what O.P. and my relative were talking about. I was 9 years old and didn't have any real interest but they were engaged in a very animated conversation. I wonder now if it was about endowments. O.P. died in 1975 and I was 13 years old and thinking "Thank God, I didn't have to go to that funeral because it meant sitting through another service."
QuoteThe Rev. Otto Paul Kretzmann began his productive 28-year presidency of Valparaiso University in 1940, his inspiring inaugural address setting the tone for years to come. During his administration a new campus was developed, enrollment grew from 400 to 4,000, and the University became nationally recognized.
Before coming to Valpo, O.P., as he was affectionately known, had been executive secretary of the international Lutheran youth organization, the Walther League, for six years. Prior to that, he had served for ten years on the faculty of Concordia Seminary, Springfield, Illinois.
A 1920 graduate of Concordia Collegiate Institute, Bronxville, New York, he received the Master of Sacred Theology degree in 1924 from Concordia Seminary, St. Louis, and pursued further graduate study at Columbia, Johns Hopkins, Harvard, and Chicago Universities. He was the recipient of ten honorary doctorates. He died on Holy Cross Day, September 14, 1975, in his 75th year.
Actually there was a campaign under Schnabel to build the current ARC sometime between 1980 and 1985. While it's high school-ish, it was a big upgrade in seating size and added the indoor track. They brought in Notre Dame to play the dedicatory game. Was that cost $6 or $7 million or so? Does anyone know?
It was a $28 million campaign entitled "Forward to the 80's." I know because I attended a dinner in 1980 here in Iowa featuring President Schnabel. The centerpiece of the campaign was the ARC, which I believe wound up costing a bit over $7 million.
This campaign was a big stretch for VU since as late as 1967 VU had no endowment. None. That began to change with President Huegli. In 1976 VU received its first $1 million gift. Huegli stepped down in '78 and Schnabel was brought in (my uncle made the final cut but was not selected).
The campaign was a big success and I think they raised around $60 million.
Funny story about President Kretzmann. He was asked if it was right for VU to accept government GI Bill money so that WWII vets could come here. He was asked if this money was "tainted." His reply? "It's tainted, all right - 'taint enough."
Paul
Here's why you will not hear or see much of O.P. Kretzsmann on tape or video.
June 1967 (Vol XXX, No. 8, p 28)
"The Tapes Show"
O. P. Kretzmann
For several years now I have been watching, with weary distaste, a comparatively new development in the history of the Church Militant — the insistence on having a tape recorder on hand for every gathering of brethren who have come together to discuss the problems of the Church. Apparently this innovation is based on a passage of non-canonical Scripture: "Where two or three are gathered together in My Name, a tape recorder must be in the midst of them" (I Beelzebub 13:13). I have given the matter much careful thought. (Please hold that question about whether college administrators can think; I intend to take that up in a later column.) Apparently this mania for tape-recording is either a form of sadism or a heretical emphasis on perfectionism. Under the reading of perfectionism the demand for a tape recorder seems to be based on the idea that everything that is said in the heat of a debate or the relaxed atmosphere of a discussion is complete, final, and perfect and that it must therefore be preserved for posterity.
Seen as sadism, the tape recorder syndrome is, of course, the idea that a man can be haunted and persecuted from now until eternity by an unhappy phrase, an incomplete statement, or a mere lapse of the tongue. "This is what the man said in 1950!" the tape recorder disciples cry, "and now we can throw it into his teeth, shout it from the housetops, and publish it verbatim in our magazines. He said it, he can't deny it, and we'll plague him with it until he totters into his grave — and maybe even beyond that." One can almost see a new vision of the Dies Irae with the Judge upon his throne, listening to tape recorders smuggled past the gate of death by those who, in this life, thought they did Him service by playing the part of accuser of their brethren.
Whatever the theology and psychology of the tape recorder idea may be, it is easy to forget that as an instrument for capturing and preserving truth it is singularly inadequate and weak. Have you ever seen a transcription of one of your lectures or sermons taken from a tape recorder? It is a shattering experience. Did I really leave all of those sentences incomplete? Am I really so illiterate, particularly in the wrong places — "a" when I thought I had said "the," a solemn-appearing sentence which I had uttered in a sarcastic tone of Voice, syntax scrambled like a plate of spaghetti, the ascription of a saying to Isaiah when I know well enough it is from Amos, "uhs" and "ahs" all over the place? Is this what my audience really heard? The answer is clear. On one level this is precisely what they heard. On another and far more important level this has no relation at all to what they heard. For they heard a man, not a machine. They saw his gestures, the changing expressions of his face. They knew his mood.
The tape recorder can faithfully reproduce words. It can not reproduce the milieu in which the words were spoken. But surely the milieu is just as important as the words themselves. And so, after long study, I have re solved never to expose myself to a situation in which three of us are gathered together — the brother, I, and the tape recorder. I may be old-fashioned, but I prefer that the third presence be that of our Lord — the Lord of forgiveness and mercy — who has known for thou sands of years how weak and inarticulate we are when we try, as we must, to pour His thoughts into the shallow molds of our poor human words.
By the way, all of what I have been saying about the inadequacies of the tape-recorder applies to those who are constantly throwing Luther's Tischreden at us. Veit Dietrich, the faithful (but, one suspects, rather dull) scribe was the sixteenth-century counterpart of our tape recorders. Aside from the hazards noted in the paragraphs above, how would you like to be quoted, word by endless word, on something you said after a heavy dinner, with perhaps two or three glasses of good German beer under your belt, and in the company of your best friends who, in your opinion, could do with an occasional shock to blast them out of their academic rut? Luther had a brilliant, provocative, dancing mind and it would appear that good conversation was one of his favorite forms of recreation. And if one credits him with the puckish sense of humor that one keeps running into in even his serious writings, one can imagine how he must have enjoyed baiting the solemn Philip, the serious theologians, and the slavish note taker, Dietrich. I can imagine Blessed Martin slipping into his nightshirt after a session with the boys and almost choking with laughter as he recounted to Katie how he had shocked poor Philip with some outrageous observation on the validity of humanistic study and Katie answering, "Really, Martin, you have got to quit teasing poor Philip like that. He's so frail, you know." But I am sure that the very remark that Blessed Martin considered his joke of the evening has been dealt with at length in a monograph by some German theologian, probably under some such title as Luthers Ansichten ueber den Humanismus, Dargestellt Anhand einer Bemerkung zu Melanchthon in den Tisch reden.
Quote from: crusadermoe on September 02, 2021, 06:58:51 PM
Actually there was a campaign under Schnabel to build the current ARC sometime between 1980 and 1985. While it's high school-ish, it was a big upgrade in seating size and added the indoor track. They brought in Notre Dame to play the dedicatory game. Was that cost $6 or $7 million or so? Does anyone know?
I seem to recall a price tag of $3.1M to $3.5M
Sent from my iPhone using Tapatalk
Quote from: 78crusader on September 02, 2021, 08:01:57 PM
It was a $28 million campaign entitled "Forward to the 80's." I know because I attended a dinner in 1980 here in Iowa featuring President Schnabel. The centerpiece of the campaign was the ARC, which I believe wound up costing a bit over $7 million.
This campaign was a big stretch for VU since as late as 1967 VU had no endowment. None. That began to change with President Huegli. In 1976 VU received its first $1 million gift. Huegli stepped down in '78 and Schnabel was brought in (my uncle made the final cut but was not selected).
The campaign was a big success and I think they raised around $60 million.
Funny story about President Kretzmann. He was asked if it was right for VU to accept government GI Bill money so that WWII vets could come here. He was asked if this money was "tainted." His reply? "It's tainted, all right - 'taint enough."
Paul
Paul, I didn't know that VU's endowment was zilch as of that relatively late date. It's clear that while O.P. Kretzmann was significant in defining VU's intellectual and spiritual endowment, he was not attentive to the development side of things.
Anyway, I went back to Dr. Richard Baepler's superb history of VU, "Flame of Faith, Lamp of Learning," in search of info about VU's fundraising efforts. (Seriously, it's one of the best university histories I've ever read, amidst of a sea of such books that run the gamut.) The 1980s campaign was called "The Crusade for Valparaiso University" (interesting twist in view of current mascot discussions!) and raised $72m, including projects such as the ARC and the new Wesemann Hall.
Unfortunately, there wasn't enough money raised to cover a third wish-list project, a new performing arts center. That would come later.
So I should also give President Schnabel credit for moving VU into the modern era of fundraising, along with Presidents Harre and Heckler.
David
Quote from: covufan on September 03, 2021, 08:33:21 PM
Quote from: crusadermoe on September 02, 2021, 06:58:51 PM
Actually there was a campaign under Schnabel to build the current ARC sometime between 1980 and 1985. While it's high school-ish, it was a big upgrade in seating size and added the indoor track. They brought in Notre Dame to play the dedicatory game. Was that cost $6 or $7 million or so? Does anyone know?
I seem to recall a price tag of $3.1M to $3.5M
Sent from my iPhone using Tapatalk
This from the Athletics facility page:
Subsequently, a program of needs was developed by a campus committee. The Valpo Board of Directors then designated the ARC as a priority capital component of Valparaiso University, thus a national comprehensive effort to raise $50 million in support of the University. Ground was broken for the ARC on April 23, 1983.
The $7.25 million Athletics-Recreation Center added 84,000 square feet of new construction to the existing facility, thereby providing at one site a complex of over 142,000 square feet for physical education, athletics, and recreational activities.
New total posted: $275,576,592 That's an increase of a little over $600,000 in about two weeks!
Why hasn't there been any announcements about specific gifts? I think the last one was the $15 million deferred gift when the total was at about $238 million. That was $38 million ago! There has to have been some sizable gifts/pledges since then.
They seem to only announce the gifts when they are are fully funding a specific area like a department chair or program or it's a very significant amount of money. So if there have been lots of donation just to the general scholarship fund or maybe spread across different areas it seems like that just gets rolled into the total but no press release.
I wonder if there are any big hitters in the pipeline for ARC renovation?
Quote from: valpo64 on September 08, 2021, 08:16:04 PM
I wonder if there are any big hitters in the pipeline for ARC renovation?
I think the fact that you are wondering about big donations for ARC renovations and that there have been no large donations announced for that specific purpose is your answer.
So Valpo raised 275 mil, but correct me if I'm wrong - that is a donation and not guaranteed cash to the school.
I am very concerned that this school is strapped for cash and maybe they are providing financial aid packages in a too generous fashion. Any info on this?
Quote from: usc4valpo on September 12, 2021, 09:13:38 AM
So Valpo raised 275 mil, but correct me if I'm wrong - that is a donation and not guaranteed cash to the school.
I am very concerned that this school is strapped for cash and maybe they are providing financial aid packages in a too generous fashion. Any info on this?
As I understand it, donations like these come in a variety of forms. Some are outright donations in which the money is immediately donated and can be used right way. Others are donations in which the money is immediately donated, but (per agreements between the donor and the university) is used over a longer period of time. Still another type of donation, which is probably a significant amount of the 275M, is donated over time and agreed to be used over a longer period over time (the donor would agree that actual funds provided are always at or ahead of the agreed usage). Money from estates would be included in this last group which, of course, often cannot have a specific date for when the money is donated (since it would be tied to one or more people passing away). To your point on guaranteed cash to the school, it would be correct to say that it is not 100% guaranteed until you have the money. However, my opinion is that people associated with the university are sincere and responsible and thus would be highly likely to meet the obligation that they agreed to.
As far as financial aid, most universities (including private schools) do release their discount rate (average percentage discount for all students versus the 'list price'). I would suspect this is around 30 to 40 percent for Valpo (but I have not seen the data). That would be consistent with most private universities in the midwest and budget planning always includes this in the models.
So what does it mean to have this bowl of cash which is close to guaranteed money, and why not use it to make the university better, particularly in athletics? Bradley, Drake and Evansville have nice facilities - why not Valpo? Our facilities are on the bottom of the MVC and we need to step it up.
Quote from: usc4valpo on September 12, 2021, 02:05:54 PM
So what does it mean to have this bowl of cash which is close to guaranteed money, and why not use it to make the university better, particularly in athletics? Bradley, Drake and Evansville have nice facilities - why not Valpo? Our facilities are on the bottom of the MVC and we need to step it up.
Priorities (of the university and donors). There is always a debate on university priorities (which has been talked about here since the forum began). But in reference to these donations, a lot of it is specifically targeted in how the university can use it. If someone donates $100K for scholarships for business students or an endowed chair in history, that money can only be used for that purpose. I am totally speculating, but I imagine over half of the $275M has specific functions or programs that the money must be used for. Many donors shy away from donations to general funds.
Quote from: vu84v2 on September 12, 2021, 03:53:47 PM
Quote from: usc4valpo on September 12, 2021, 02:05:54 PM
So what does it mean to have this bowl of cash which is close to guaranteed money, and why not use it to make the university better, particularly in athletics? Bradley, Drake and Evansville have nice facilities - why not Valpo? Our facilities are on the bottom of the MVC and we need to step it up.
Priorities (of the university and donors). There is always a debate on university priorities (which has been talked about here since the forum began). But in reference to these donations, a lot of it is specifically targeted in how the university can use it. If someone donates $100K for scholarships for business students or an endowed chair in history, that money can only be used for that purpose. I am totally speculating, but I imagine over half of the $275M has specific functions or programs that the money must be used for. Many donors shy away from donations to general funds.
Correct. Here are examples of specific gives for specific purposes:
https://www.valpo.edu/forevervalpo/2020/01/28/bauer-field/
https://www.valpo.edu/forevervalpo/2016/10/04/valparaiso-university-receives-1-8-million-for-endowed-scholarship-fund-2/
https://www.valpo.edu/forevervalpo/2020/02/06/historic-gift/
https://www.valpo.edu/forevervalpo/2019/02/01/business-professorship-and-scholarship/
Quote from: usc4valpo on September 12, 2021, 09:13:38 AMSo Valpo raised 275 mil, but correct me if I'm wrong - that is a donation and not guaranteed cash to the school.
The new total posted is $277,731,448. I also heard President Padilla say at Homecoming that our endowment now is at $330,000,000 which is up from 254.2 in 2020. So I guess a pretty good chunk of the pledged has been received, which is great news.
Did Valpo ever actually have a celebration for reaching $250M. Or does the Forever Valpo fund go on forever?
Quote from: usc4valpo on October 05, 2021, 06:55:08 PM
Did Valpo ever actually have a celebration for reaching $250M. Or does the Forever Valpo fund go on forever?
Not forever! I think there wasn't a big celebration because the need to continue to raise funds would have stopped if it were made to be a big deal.
President Padilla has said it will end in June of 2022. At Homecoming he said that there will be a "brief" victory lap but...then a new drive will start shortly thereafter. The new needs he specified include a new Nursing building (now in three places and woefully outdated for a program ranked #1 in the State), a new or dramatically redone Business College building and third (not necessarily in that order), a new or redone ARC! He acknowledged that we are way behind the competition and it needs to be a priority.
Those projects make sense.
The enrollment and financial picture will need to step up before big donors will want to buy into more buildings. Unfortunately, shortfalls create a vicious cycle.
Quote from: vu72 on October 05, 2021, 01:44:59 PM
Quote from: usc4valpo on September 12, 2021, 09:13:38 AMSo Valpo raised 275 mil, but correct me if I'm wrong - that is a donation and not guaranteed cash to the school.
The new total posted is $277,731,448. I also heard President Padilla say at Homecoming that our endowment now is at $330,000,000 which is up from 254.2 in 2020. So I guess a pretty good chunk of the pledged has been received, which is great news.
The endowment boost may be due more to the extraordinary returns that many university endowments experienced during 2020. We're talking huge, jaw dropping, double digit returns. I'm not following these developments closely enough to know how the investment managers were able to do this, other than lamenting that my own investment "strategies" have yielded more modest returns. :'(
New total up. $278,454,517 That's up about $700,000 in a little over a month.
That's great to hear. Hope it is all or primarily spendable money. The Torch article said that they need two strong freshman classes to get back above water.
Quote from: crusadermoe on November 15, 2021, 03:34:51 PM
That's great to hear. Hope it is all or primarily spendable money. The Torch article said that they need two strong freshman classes to get back above water.
It is very unlikely that any more than a third of the funds from donations that count towards endowment can be spent immediately.
Per the news release a few posts ago, they have wrapped the new baseball field project and the $15 million chapel addition into the "Forever" total. So we can't necessarily assume each gift is an endowment gift.
in fact I think they are wrapping in all dollars for any purpose into the $270+ million number, even regular annual giving. In their current fiscal scenario, that's actually the urgent need. Get above water and then build new facilities.
New total up: $281,178,894. That's up $2.7 million in a month! Remarkable.
Quote from: crusadermoe on December 02, 2021, 07:21:35 PM
Per the news release a few posts ago, they have wrapped the new baseball field project and the $15 million chapel addition into the "Forever" total. So we can't necessarily assume each gift is an endowment gift.
in fact I think they are wrapping in all dollars for any purpose into the $270+ million number, even regular annual giving. In their current fiscal scenario, that's actually the urgent need. Get above water and then build new facilities.
While a majority of this money (>50%) is likely endowment, most universities count everything when posted fundraising results like this.
Yeah I think that the name usually indicates the major focus of the fundraising efforts over the next however many years but that they also continue other types of fundraising and don't separate it out. Basically this is what we want you to give money for but we'll take this other stuff too type of thing. It's like the title is more like a team slogan or branding tagline than it is a clear marker of what is or is not accepted
This link goes directly to a doc listing college and university endowments, giving 2021 and 2020 amounts. Overall, due to investment performance more than fundraising, it was a remarkably successful year for most endowments, with median gains of 30 percent! VU did a bit better than that and shows up at #273 in total amount.
https://www.nacubo.org/-/media/Nacubo/Documents/research/2021-NTSE-Endowment-Market-Values-US-and-Canadian-Institutions--REVISED-February-18-2022.ashx?la=en&hash=7C30AAA008439416EFF0FAF8B4B380A7CD98A2AD (https://www.nacubo.org/-/media/Nacubo/Documents/research/2021-NTSE-Endowment-Market-Values-US-and-Canadian-Institutions--REVISED-February-18-2022.ashx?la=en&hash=7C30AAA008439416EFF0FAF8B4B380A7CD98A2AD)
If you study the list, you'll also see that VU is doing respectably compared to many peer institutions, in both aggregate amount and the key figure of endowment dollars per full-time equivalent student. This does NOT mean that VU's financial challenges are illusory, but rather that its fundraising work over the years has been competitive among peer schools.
I guess the fact that the endowment grew by almost $100 million in a year would tell us that the Forever Valpo campaign is actually bringing in funds rather than just a bunch of promises that may or may not pan out.
Couple this report with this article concerning the University's plan for developing the excess real estate on or near the campus and the financial future starts to look a lot brighter! Might some of those funds coming in from the real estate projects help to fund a new ARC? :thumbsup:
https://www.nwitimes.com/business/local/massive-forward-thinking-vitalize-valpo-project-to-connect-the-community-university/article_2f5b940a-edb4-57db-ac0e-ae570987bbb8.html
That huge endowment growth does mitigate the crisis a lot. They can spin off another $5m from that $100m gain which is a big help vs. the 11% deficit Moody's mentioned. But endowments do also decrease in value.
Hope you are right about the land plans. That could buy time until the enrollment turns upward for a couple years.
It took VU over 30 years of hard work and countless visits to university supporters to reach an endowment of $100 million -and last year alone the endowment grew by an astonishing $100 million.
This is a once in a lifetime opportunity to bring the university into a better financial position. It won't happen again. If I was on the Board of Directors I would be very conservative from here on out with the university's investment strategy. I think the United States is on very unstable financial ground - too much debt and unsustainable spending. I fear a day of reckoning is coming that will make the 2008 downturn look like a church picnic, with endowments taking a terrible pounding that will take years and years to recover from, if ever.
Paul
Totally agree, VU78.
Go into fixed immediately at a much higher ratio. U.S. fiscal health will be crushed when interest rates rise and drive up the share of federal revenue spent on debt. So what should we do?
valpo04 edit: No politics please.
Total for Day of Giving exceeds $1,065,000! A new record! Athletics $144,548!! Thanks to all who took the time to make a contribution!
The school and the President should use these funds to leave the conference and go back to the Horizon
Heckler put us in a league we aren't prepared for in a multitude of ways
The " punch above your weight " idea is a great way to get pummeled by opponents
The budget and facilities align better with HLC
Follow what Lamar did- for reference on the transition
Unfortunately there has been some shorter term pain in the MVC but it was a fantastic long term move.
Going back lol....
"Fantastic " how?
Quote from: Beacons22 on April 13, 2022, 06:07:57 PM
"Fantastic " how?
In several ways. First, we are in a conference with much better tv and national exposure. As an example, the MVC plays its championship game on CBS--yes, that CBS, not on ESPN+.
Success brings in larger tournament shares which helps all sports. The Valley was ranked a s the 11th best basketball conference while the Horizon was ranked 26th. Obviously this leads to higher seeding and much improved chances of wins in the tournament.
Finally, for now, from an academic standpoint, or value of your degree, as a soon to be Valpo grad (an assumption on my part), would you rather see Valpo in a conference with schools like Drake, Bradley and Belmont or schools like Youngstown State, Cleveland State and IUPUI?
Quote from: vu72 on April 14, 2022, 08:25:54 AM
Quote from: Beacons22 on April 13, 2022, 06:07:57 PM
"Fantastic " how?
In several ways. First, we are in a conference with much better tv and national exposure. As an example, the MVC plays its championship game on CBS--yes, that CBS, not on ESPN+.
Success brings in larger tournament shares which helps all sports. The Valley was ranked a s the 11th best basketball conference while the Horizon was ranked 26th. Obviously this leads to higher seeding and much improved chances of wins in the tournament.
Finally, for now, from an academic standpoint, or value of your degree, as a soon to be Valpo grad (an assumption on my part), would you rather see Valpo in a conference with schools like Drake, Bradley and Belmont or schools like Youngstown State, Cleveland State and IUPUI?
Thanks
All valid points
For myself and my classmates/ friends we want a winning basketball program
I don't think we can do it in this conference-
As far as your other point- we are Valparaiso- not Northwestern or ND
Don't get it twisted- while it's a good school-don't act like we are elite so we aren't " above " the schools you mentioned ( Engineering excluded)
No one compared Valpo to Notre Dame or Northwester. They asked if you felt Valpo was more aligned as a university with schools like Belmont or Drake vs Cleveland State.
The answer to that is going to be about programs, size, student body type etc. We know that we have mutual peers in the MVC where both schools view each other as like institutions. I don't believe that was the case in Horizon league, especially once Loyola and Butler left.
Drake is a great academic institution? Seriously?
Quote from: Beacons22 on April 14, 2022, 09:12:30 AMDon't get it twisted- while it's a good school-don't act like we are elite so we aren't " above " the schools you mentioned ( Engineering excluded)
Not sure why some alumni or soon to be alumni have such an inferiority complex concerning Valpo. True we don't have the academic reputation of some, most of which is garnered by their grad and doctorial programs but at the same time Valpo is clearly in the top five percent, reputation wise if you simply rely on some facts,
First, their are 60, yes 60 colleges and universities just in the State of Indiana! That means there are well over 3000 post secondary choices for students. Next consider the US News and World Report college ranking system. Valpo is ranked #172 in the National Universities category. That means Valpo is ranked fourth in the State of Indiana behind #19 Notre Dame, #49 Purdue and #68 IU. Perk up kid! You are getting a great degree from a great University!
I never had an inferiority complex going to Valpo, it's when people compare a Valpo education to an elite school is when I shake my head.
Rose Holman at least in STEM is pretty insane.
dePauw and Wabash are very strong academically too. I would not get over dependent on one metric.
Drake has a reputation in Iowa as a school you can get accepted to if getting rejected from Iowa, Iowa State or UNI. Great pharmacy school though!
Below are the WSJ school rankings for the MVC, Horizon, and MVC additions. You will notice the MVC is comprised of institutions that are ranked far higher than the Horizon and are much more peers to VU (ranking wise).
MVC
Drake 144
Loyola 181
Bradley 196
SIU 224
Valpo 257
Evansville 291
Illinois st. 330
UNI 501-600
Indiana st >600
Missouri st >600
Additions
UIC 89
Belmont 401-500
Murray st. >600
Horizon
Detroit mercy 180
IUPUI 348
Cleveland st 501-600
Robert Morris 501-600
Green Bay >600
UWM >600
NKU >600
Oakland >600
PFW >600
Wright st >600
Youngstown >600
Dude is very confused if he thinks Valpo is on part with a school like Cleveland State or some of the other HL schools.
Interesting, and I would like to see how these metrics are generated.
Regarding engineering, Valpo had had a very solid program for quite awhile. The professors for the most part had engaging lectures and the lab experience was important in applying theory to reality. A lot of Valpo grads in engineers have continuing graduate studies at top schools.
How Drake is ranked so high is beyond me.
USNWR, WSJ, etc. all have various methods for rankings. One aspect that is included in this, that may not be visible to many, is research. Publications (quantity and tier), percentage of research active faculty, grants, etc. all figure into this. UIC and UWM are the only R1 schools on this list and my guess is that is why UIC so high (though they have greatly improved their academic reputation in the last 20-30 years). Surprised that UWM is so low in these rankings, because they also have improved a great deal in many areas. Some rankings give schools zero points in areas that require responses from a university where the university did not provide a response, so my guess is that is the reason why UWM, Murray State, Indiana State and Missouri State are that low.
Agree with usc4valpo's comments about engineering (yes, we both graduated in engineering from Valpo). However, I would add (and this is also applicable to the College of Business) that Valpo seems to be very good at graduating students with above average communications skills. In my prior career, I did recruiting for our company at Valpo and the hiring managers all said that, while the candidates skills were always good, Valpo graduates stood out because of their speaking and writing skills.
Quote from: valpo22 on April 15, 2022, 10:56:52 AMthe Writing Center got shut down for a whole year,
I presume this was because of the pandemic. As part of the Forever Valpo Campaign there was a gift of presumably $500,000 to endow the Writing Center.
https://www.valpo.edu/forevervalpo/2017/03/27/valpo-alumni-commit-1-million-to-university-writing-center-and-college-of-engineering/
Our perspectives may also be different because of who we currently interact with at Valpo. I have interactions with the colleges of business and engineering...thus, beyond my experiences hiring graduates years ago I know what is emphasized in those programs today. Students are expected to not only master the concepts and skills, but are also expected to be able to write, present, argue, etc. However, I have little interaction with the other colleges.
You also have concerns about reductions in writing center staff and support available to students. I have no way of knowing if this is true, but a different question is whether all students who seek support are getting support? If they aren't, that is clearly a problem. However, I have seen cases at other universities where writing centers have far more staff than are needed for the number of students who seek support. All students who need support should get it, but overstaffing is wasteful.
Lastly, in reference to the $500K endowed gift for the writing center. If the university received this in 2017, they likely paid out nothing to the writing center for one to two years to let the balance increase. Then, they made annual payments to the writing center, but likely never let the balance drop below $500K. Thus, they probably pay out around $25K to $35K per year and will do so in perpetuity (or at least over a very long period). Endowment is all about long-term sustainability.
Quote from: valpo22 on April 15, 2022, 10:56:52 AMEngineering and Nursing are where the investment and quality is at
You may not be familiar with the Business School, but its faculty is top notch and the most diverse at Valpo. Of the 15 full time professors, 13 have a PhD, 1 an MBA and one a JD (who teaches business law). The dean is young and dynamic. The reputation is first rate.
Quote from: usc4valpo on April 14, 2022, 03:10:01 PMDrake has a reputation in Iowa as a school you can get accepted to if getting rejected from Iowa, Iowa State or UNI
Well, for what it's worth, US News disagrees with you, at least as to how Drake and UNI rank. Drake is ranked in the National University area coming in at #136. UNI is ranked in the Midwest Regional category but is only ranked #19, while Bradley is #2 and Evansville is #7.
I know several instances where students did not get accepted to the Iowa state schools (Iowa, Iowa State, UNI) but got accepted at Drake. Something is off with The metric.
Quote from: usc4valpo on April 16, 2022, 05:10:47 PM
I know several instances where students did not get accepted to the Iowa state schools (Iowa, Iowa State, UNI) but got accepted at Drake. Something is off with The metric.
Could be related to the specific college, rather than the university. For example, Iowa and Iowa State both have good engineering programs and may be far more selective than other colleges within the universities.
Quote from: usc4valpo on April 15, 2022, 06:43:57 AMHow Drake is ranked so high is beyond me.
I heard they are getting a lot of students from NW Indiana. :-)
Wanted to give my view on Valpo22's post the other week.
Very few of us here besides 22 will be able to speak have things have been over the last few years during COVID, however, I will speak to this generally.
Yes, there have been cutes to humanities the school simply needs to put resources where the ROI is, this is not uncommon even up to the most elite schools who have also cut/ realigned programs and sports over the last number of years.
I would be hesitant to equate turnover in CORE and the writing center's lack of focus or resources (although it very well could be) but my guess is none of those positions are long-term career goals for people and they move on to better opportunities when they arise.
The school does or at least has marketed the writing/communications focus and I think they are correct to do so. Everything is relative. Compared with many of the schools we are competing against we do have a much more robust and demanding writing/communications curriculum. I have many friends who went to decent state schools and much of what they had to do was a joke barely above the community colleges courses I took one summer.
As far as the unsatisfactory peer reviews go you probably are correct that society's focus has changed a bit and there is more emphasis on digital and video. I am going on a hunch here and guessing that you are at the very top of the class for reading, writing, etc so compared to you everyone may always seem not up to par. I'm sure there are some very gifted engineering students at VU every year that look around and wonder why everyone else is struggling with certain classes when it is extremely easy for them.
My guess is there isn't that much of a difference then vs now in many of the issues you have brought up and if there is it would take an individual as astute and with a keen interest in this specific area of the university such as yourself to notice. TBH most don't enjoy many of these classes (although valuable) and just see them as a hindrance to working within their major. Hopefully, we will have a strong rebound in the next couple of years so that more resources can be allocated back to the humanities.
I know I do but I think humans, in general, tend to focus on what is not right and what we don't have, and although that's not necessarily a bad thing it stops us from noticing what we do have. Valpo has a lot more than the vast majority of schools.
Well hopefully the campaign is continuing to raise money, as the school is going to need to raise more money with the old Art and Psych building burning down this afternoon. (Tried making a separate thread about the building being on fire earlier, but my post appears to have not gone though). Also, glad there's another Vu22, class of 22 representing!
Quote from: VU2022 on April 29, 2022, 08:57:59 PM
Well hopefully the campaign is continuing to raise money, as the school is going to need to raise more money with the old Art and Psych building burning down this afternoon. (Tried making a separate thread about the building being on fire earlier, but my post appears to have not gone though). Also, glad there's another Vu22, class of 22 representing!
Very sad, particularly for the art students whose final art projects were burned. I would think this won't be rebuilt and the land will just become part of the redevelopment project for the surrounding dirt.
https://www.nwitimes.com/news/local/porter/valparaiso/watch-now-firefighters-battle-pretty-devastating-fire-on-valparaiso-university-campus/article_dbbead0b-f924-5de3-8414-0f5b5cba756a.html#tracking-source=home-top-story
There is so much artwork in their from last students :( I'm not sure what they will do. It's surrounded by a lot of other buildings so not sure the land would be very useful. It also was one of the buildings that engineering students built after WWII so there's some real history there that was lost. I'm sure insurance will help with either repair or relocation of the space.
I would certainly hope that they were insured for replacement costs. The loss of the art is probably irreplaceable.
Unfortunate to see. As a Psychology major, I spent a lot of time in that building and the building next to it, Dickmeyer Hall.
The total just passed $300 million, now at $300,957,575! I was hoping the total would exceed $300 million as it is just a nice round number! Must be a final push as the previous posted total was just north of $296 million. The campaign ends June 30, then a three month rest and on to the ARC project! (unfortunately, just dreaming!) :popcorn:
Happy for the $300 million I guess. That number includes the May 2011 gift to the chapel of $15 million. You can google Helge chapel gift to verify.
So taking 11 years to raise $300 million is a bit less impressive. Harre raised $230 million over 5 years for the student union and other goals during 2005-2009. Just sayin'
Quote from: crusadermoe on June 04, 2022, 03:14:02 PM
Happy for the $300 million I guess. That number includes the May 2011 gift to the chapel of $15 million. You can google Helge chapel gift to verify.
So taking 11 years to raise $300 million is a bit less impressive. Harre raised $230 million over 5 years for the student union and other goals during 2005-2009. Just sayin'
You might be right, but I don't think so. This article says the Helge's gave $2 million as part of the Forever Valpo Campaign, which launched September, 2016 (concludes June, 2022 or just shy of 6 years total).
https://www.valpo.edu/forevervalpo/2018/04/24/alumni-generosity-is-catalyst-for-valpo-student-program/
The gift for the Chapel was made in 2014 with dedication at Homecoming, 2015--prior to the launch of the Forever Valpo Campaign. So if I'm right (usually ;)), The $300 million was raised in just over 6 years while Alan Harre's campaign raised $230 million in just over five years. Remember, raising money for a specific project like the Union or Library is a lot easier than raising money for something more nebulous like endowment.
VU72 is right: The Campaign wasn't launched until Fall 2016. And let's keep in mind that its final stretch was in the midst of the pandemic.
Both Harre and Heckler led fundraising efforts that cemented VU's ability to stage successful capital campaigns. The University's development capacities are waaaay ahead of what they were in my student days ('77-'81).
So is Valpo still strapped for cash? The $300M just does not feel permanent and we need guaranteed cash. Of course, maybe I'm being naive. Committed cash is different than guaranteed cash, and with the economy and tax codes today those committed donations may not fall through.
Quote from: usc4valpo on June 04, 2022, 08:46:03 PM
So is Valpo still strapped for cash? The $300M just does not feel permanent and we need guaranteed cash. Of course, maybe I'm being naive. Committed cash is different than guaranteed cash, and with the economy and tax codes today those committed donations may not fall through.
I don't have any data on what percentage of donations committed to Valpo are eventually made, but my guess is that it is really high. These are people who have shown substantial commitment to the university over many years and their committed donation is not from a hasty decision. Furthermore, these people likely have fairly substantial wealth and estates – thus they are not likely to deplete their wealth during their lifetime.
As far as 'guarantees', my guess is that it is stronger than you may realize. If someone has a will or trust and they designate money to go to Valpo upon their death, I don't think Valpo counts it unless there is some verification. If someone donates money for an endowment or scholarship with multiple installments, there is a contract. Yes, these types of agreements can be easily changed - but, again, these are responsible people with long term commitments to the university.
The issue that is more challenging is the timeframe for getting money. Let's say a couple commits to donate $1M in their estate to Valpo - clearly a generous donation. Both members of the couple are in their early 60s. The money is not going to go to Valpo until both have passed away, which is likely 20 or more years...even though it counts today in the $300M.
Quote from: vu84v2 on June 05, 2022, 09:37:38 AM
Quote from: usc4valpo on June 04, 2022, 08:46:03 PM
So is Valpo still strapped for cash? The $300M just does not feel permanent and we need guaranteed cash. Of course, maybe I'm being naive. Committed cash is different than guaranteed cash, and with the economy and tax codes today those committed donations may not fall through.
I don't have any data on what percentage of donations committed to Valpo are eventually made, but my guess is that it is really high. These are people who have shown substantial commitment to the university over many years and their committed donation is not from a hasty decision. Furthermore, these people likely have fairly substantial wealth and estates – thus they are not likely to deplete their wealth during their lifetime.
As far as 'guarantees', my guess is that it is stronger than you may realize. If someone has a will or trust and they designate money to go to Valpo upon their death, I don't think Valpo counts it unless there is some verification. If someone donates money for an endowment or scholarship with multiple installments, there is a contract. Yes, these types of agreements can be easily changed - but, again, these are responsible people with long term commitments to the university.
The issue that is more challenging is the timeframe for getting money. Let's say a couple commits to donate $1M in their estate to Valpo - clearly a generous donation. Both members of the couple are in their early 60s. The money is not going to go to Valpo until both have passed away, which is likely 20 or more years...even though it counts today in the $300M.
I would add that some of the 300MM is already in the bank and spent, as in the $1MM gained via the recent Day of Giving. There are a couple of these days each year which combined bring in about 1.25MM so as the campaign has gone on now for over five year, it is safe to presume that about 5MM or so is in and likely spent. There is also The Valpo Fund which provides the University with unrestricted funds to meet immediate needs. My guess is that of the $300MM, perhaps another $5MM went to this fund and in all likelihood has also been spent. The other thing to remember is that even if all 300MM were in the endowment, it would only generate 5% or so on an annual basis. These funds will certainly help alleviate the need for student tuition payments but it will help, particularly in comparison to colleges competing with Valpo who must discount their tuition via scholarships/grants to match Valpo's net price, without the endowment income to support same.
As important as this campaign was, the next campaign, which President Padilla has said will launch relatively soon, will be just as important and, probably, more challenging.
The primary focus of the soon-to-be concluded campaign is the endowment. Planned future giving was certainly a major source of the $300M raised.
The next campaign will almost certainly focus on facilities. President Padilla has mentioned a new nursing building, a new business building, and long-awaited renovations to the ARC. All three of these projects are sorely needed, and soon. The problem is immediate cash donations are required to build out these projects - unless the university decides to take on more debt to partially finance these buildings. I seriously doubt that VU will add much, if anything, to its current debt load in order to bring these facilities online.
The other problem is that inflation is going to jack up the price tags big time. Perhaps a new nursing building would have cost $30M in 2020; now it will probably be $40M.
Paul
I have a feeling Padilla will come through get through this challenge. However, People are strapped for cash more than ever in the current economic situation,
Google "Helge chapel gift" and see the $15 million dated May 4, 2011. You didn't do it.
Then ask an honest broker at VU to find out if that $15 million is rolled into the amount announced in 2016.
Quote from: crusadermoe on June 06, 2022, 11:04:16 AM
Google "Helge chapel gift" and see the $15 million dated May 4, 2011. You didn't do it.
Then ask an honest broker at VU to find out if that $15 million is rolled into the amount announced in 2016.
I cannot speak to what has happened with this specific gift, but major fundraising campaigns at most universities have private and public stages. They'll internally set a goal and raise money without announcing the campaign, then announce it with something like 40% or 50% of the goal already met. I have never quite understood this, but my guess is that they want to prevent perceptions of unreachable goals or failure. Still, five years prior to announcement sounds like a really long period for the "quiet" period.
I'm pretty sure that it was considered a part of it but it was announced right away. There are other capital campaigns that also went into the bottom line number for money raised for the campaign like the Hill top Gym.
The endowment focus is where a lot of the energy of cultivating new donors or pitches to current donors has gone but the base number of money raised is basically everything that has come in or been promised to the university since the campaign started (plus some of the silent period stuff to generate excitement).
Quote from: usc4valpo on June 04, 2022, 08:46:03 PM
So is Valpo still strapped for cash? The $300M just does not feel permanent and we need guaranteed cash. Of course, maybe I'm being naive. Committed cash is different than guaranteed cash, and with the economy and tax codes today those committed donations may not fall through.
That $300m figure is no different than any other university capital campaign: Some of it was raised for the pre-launch, some of it came in during the Campaign's live phase, some of it will come in when estates vest. So while you're right in saying it's not necessarily guaranteed, the final figure itself is as solid as any other like effort.
VU is in better shape than some of its peers but shares financial vulnerabilities common to other high quality, regional private universities. The number of schools that can reasonably breathe at least a little easier these days is likely in the low dozens at very best.
I think there's also a difference between like short term strapped for cash vs insolvent.
Right now, Valpo, like many other schools, base their budgets on tuition which requires a specific amount of enrollment/retention. If either of those falter their annual budges will be strapped, even if they have a strong endowment or lots of pledged spending. Most universities do not like to pull money out of the endowment in large amounts because it's leveraging your future to maintain a current status quo that may or may not be sustainable.
It is painful in the moment to downsize but the university needs to operate based on the number of students it has now, not the ones it had years ago. My guess is a lot of schools will have to prune things due to smaller enrollments and I can't see Valpo being any different.
The Endowment is like your 401k and it's always recommended you restrict your current spending if possible before dipping into it and I don't think universities are any different.
David81 gives a really nice summary of the counting puzzles and the mid-size school perils as well. Now, onward Beacons and charge the hill!
If Harre supposedly raised all this money for the Union and Library (timing wise the meteorology wing/KCH is that same era) why does the University supposedly have a pile of debt?
The library and KCH were donated by the Pampered Chef people, who seemingly disappeared as soon as the ink dried on their kids' degrees. So basically Harre was left to raise money from a field of donors just for the Union? So where did the debt come from? I ask this as a student during the era where VU was a perpetual construction site and seemingly could pull buckets of cash out of thin air.
Quote from: tjn2004 on June 09, 2022, 07:32:22 PM
If Harre supposedly raised all this money for the Union and Library (timing wise the meteorology wing/KCH is that same era) why does the University supposedly have a pile of debt?
The library and KCH were donated by the Pampered Chef people, who seemingly disappeared as soon as the ink dried on their kids' degrees. So basically Harre was left to raise money from a field of donors just for the Union? So where did the debt come from? I ask this as a student during the era where VU was a perpetual construction site and seemingly could pull buckets of cash out of thin air.
Lots of alumni, for specific uses as in many sections or group of offices have a sign designating who funded it. I believe the larger lead gift was from the Helges.
The campaign site is officially shut down. The final final should be out shortly with a brief "victory lap" to follow--then followed by the next drive to include the Nursing and Business Schools and athletics.
Harre never let the board borrow a dime in building the Library, Union, and KCH. Every dollar spent on construction was donor given. Some alumni and donors disliked him for that.
Every debt taken out for building was begun by Heckler's board after Harre finished in 2008 with no capital debt. You can look at the audits.
Quote from: crusadermoe on July 05, 2022, 04:50:42 PM
Every debt taken out for building was begun by Heckler's board after Harre finished in 2008 with no capital debt. You can look at the audits.
That is not entirely true. The Form 990 for 2007-08 (7/1/07 to 6/30/08) has tax-exempt bond liabilities of 53.2M at the end of the fiscal year. This increased from 25.1M at the beginning of the fiscal year. The big chunk of that ($29.5M) went to M A Mortenson, the contractor on the Harre Union building that would have opened in 2008.
Someone else (with more time than me) can pull all the figures by year, yet I thought this was instructive:
Year Bond Liabilities Interest Payments
2006-7 $25.1M $1.1M
2011-12 $64.1M $2.4M
2016-17 $98.8M $3.7M
2020-21 $125M $4.5M (this was from the Audit results, not the form 990)
It is also true that there were pledges for some of the construction projects, so that receipts of the gifts may have arrived after construction was completed which required a capital loan.
Beyond this, the larger point is that the debt and annual interest payments dramatically increased during President Heckler's tenure.
Quote from: valpo95 on July 06, 2022, 12:47:40 PM
It is also true that there were pledges for some of the construction projects, so that receipts of the gifts may have arrived after construction was completed which required a capital loan.
Beyond this, the larger point is
Quote from: valpo95 on July 06, 2022, 12:47:40 PM
It is also true that there were pledges for some of the construction projects, so that receipts of the gifts may have arrived after construction was completed which required a capital loan.
Beyond this, the larger point is that the debt and annual interest payments dramatically increased during President Heckler's tenure.
[/b]
True, but to be fair, we had just completed a very large campaign and there were still immediate needs to be filled. Beacon Hall--bringing Valpo into the 20th century. The new Arts and Science building (remember the old Deaconess Hall?) and the Welcome Center--the first thing new recruits see when setting foot on campus. Lastly was the new science building--also a requirement based on what we had prior.
The welcome center was a donation but I agree that a big part of our issue was that everything was pretty much coming due at the same time in regards to buildings. It took a lot of time and some luck to get the funding for the Library and Union and we were still looking at old gross dorms, a too small and under equipped science center and a general lack of classroom/office space. The debt did occur during Heckler's term but that's also cause a lack of real consistent investment and maintenance in buildings went completely unheeded and undone.
I wouldn't dispute that some of the buildings/upgrades were needed. I'm also sure the cash flow took a big hit with the closure of the law school and the buyouts of the law faculty.
Keep in mind that the plan under President Heckler was to grow the university to 6,000 students - I could be wrong on the number yet that seems to be what I recall.
All of that is water under the bridge now, yet it puts the University in much tighter financial position to have to service the debt on those new facilities. We also should be reminded that when the discussion inevitably turns to athletics facilities, the driver is still money. So without big donations, I would not expect big changes to the ARC or other facilities in the near future.
I wouldn't read too much into that. Furloughs were a common thing in so many industries at that time. It wasn't just loss of dorm money that came about. IT was loss of summer camps and other things that pull money into the university. Think about the Lutheran Basketball Tournament and how much money that alone probably pulls in.
Also, Heckler gets a lot of the brunt for the 6,000 student thing but from what I remember that was a board decision. He came in and basically told them the financials were untenable for our current size and that we either needed to grow or shrink and he would be willing to work towards whatever. The board/Strategic Planning Committee decided to go with grow and here we are.
Betting on a Law School that already had a sinking reputation when I was there in 2005 also seemed like a really bad idea.
I'd say shrinking a bit for now and maybe working to shore up some of our graduate programs would be a good idea but I hear that there are still people on campus who think that we shouldn't accept an increasing commuter rate and seem to think that we can someone flip a switch and move back to what we were 10 years ago.
Quote from: crusader05 on July 10, 2022, 09:39:04 AM
I wouldn't read too much into that. Furloughs were a common thing in so many industries at that time. It wasn't just loss of dorm money that came about. IT was loss of summer camps and other things that pull money into the university. Think about the Lutheran Basketball Tournament and how much money that alone probably pulls in.
Also, Heckler gets a lot of the brunt for the 6,000 student thing but from what I remember that was a board decision. He came in and basically told them the financials were untenable for our current size and that we either needed to grow or shrink and he would be willing to work towards whatever. The board/Strategic Planning Committee decided to go with grow and here we are.
Betting on a Law School that already had a sinking reputation when I was there in 2005 also seemed like a really bad idea.
I'd say shrinking a bit for now and maybe working to shore up some of our graduate programs would be a good idea but I hear that there are still people on campus who think that we shouldn't accept an increasing commuter rate and seem to think that we can someone flip a switch and move back to what we were 10 years ago.
Agreed on all points. The Lutheran Basketball tourney was past on again this year as it ended up in Fort Wayne. Hopefully they will be willing to come back next year. For whatever reason, that was a mistake. The Lutheran Summer Music program, currently underway, may bring in more than the basketball tourney as presumably the basketball players stay in hotels as it is during the school year. There are 170 musician plus staff on campus, living in dorms and eating at the Union.
The Law school was a HUGE drain. When you look back at our Form 990's, many of the top salaries were law professors and as the class sizes declined the cost of those professors didn't. That was nobody's fault other than being part of a national decline in law students and being in a neighborhood where the remaining top students could decide between choices like Notre Dame, IU, U of Chicago or Northwestern, all within a reasonable drive.
Since Elon Musk is bagging Twitter, I may get him a ring to see if he want to help us out. We need cash now.
Quote from: valpo22 on July 11, 2022, 03:49:09 AMby using summer camps to cashflow the core mission.
Let me try to clarify a couple of things I mentioned which may have gotten valpo22 a little cranky! The LMS and Lutheran Basketball Tournament do indeed bring money to Valpo and that is much more than just good fiscally. It is promoting Valpo to one of its core audiences--Lutherans! The basketball tourney brings teams from all over the country which plays into the new drive to expand Valpo's reach well beyond Indiana and the core Midwest which has a declining student base. The Summer music program currently underway, bring extremely bright high school students--again, Lutheran and studying orchestra, choir and performing arts, all core to Valpo historically and hopefully into the future. I hope that brings some clarity to my statements which did appear to be focused just on the ability to bring in some bucks!
As for Valpo spending dollars into their core programs, I thing they have done so and clearly will continue to do so based on President Padilla's comments in which he said his top priorities were building a new Nursing and Health Sciences building as well as a renovation or new Business school structure. The Engineering School has had many additions, the most recent, bio-engineering wing, was just dedicated last Homecoming as I recall. The professional schools at Valpo all are highly thought of and ranked. Then their is the addition of the Bio/Chem building and cadaver lab which keeps Valpo with top notch facilities addressing medical and other related fields currently in high demand.
Finally, the core ability of any college to not just survive but also thrive is the endowment. Ours was WAY behind many small tuition driven competitors. Now, not so much. It is a highly challenging time for College administrators. I'm glad we have President Padilla at the helm. He is one year in and that year has been one heck of a challenge!
i
This thread includes a few references to the Law School and its closing, and the topic has come up elsewhere as well. As an ongoing student of legal education (as a practicing lawyer and now as a law professor at a regional school in Boston), I thought I might try to add some context, while admitting freely that this contains some subjective opinions and conclusions.
The demise of VU's Law School was one of the saddest institutional casualties of the sharp downturn in law school applications, triggered by the Great Recession and lasting well into the 2010s. I get that some folks want to assign blame for this, given the Law School's longtime, respected presence at VU and within the Midwestern legal community. I think VU Law was a victim of some awful timing & circumstances and unfortunate but understandable reaches to survive (the latter mainly by way of trying to fill entering classes with too many marginal students).
For many years, VU Law's smaller size was an advantage in terms of offering a more personal approach to earning a law degree. And during its heyday before the Great Recession, the Law School attracted a lot of good applicants who may have just missed out on admission to higher ranked schools and who turned out to be outstanding students, snagging full-time jobs at selective private and public sector legal employers. But when the application pool shrank dramatically, schools like VU had to scramble. At this point, its small size became a major disadvantage, because there was only so much it could shrink without becoming a huge drain on the rest of the University. In 2016, a long New York Times profile of the Law School, using it as a prime example of the impact of the application decline in the quality of law school admissions at regionally-oriented schools, put the school in a terrible light:
https://www.nytimes.com/2016/06/19/business/dealbook/an-expensive-law-degree-and-no-place-to-use-it.html (https://www.nytimes.com/2016/06/19/business/dealbook/an-expensive-law-degree-and-no-place-to-use-it.html)
During the past three years, law school applications have rebounded, a trend totally unforeseeable at the time that VU's board of directors voted to pull the plug. Had VU been able to find a generous source of "bridge" funds to keep the Law School going without sapping the rest of the University dry, it might've made it to this recovery point. But again, that applications rebound could not have been reasonably predicted at the time the board was faced with its decision.
More broadly in terms of VU's institutional history, keep in mind that VU Law was always operating closer to the margins in terms of its survival than similar established law schools. For example, when I was a VU undergraduate (1977-81), the board seriously considered shuttering the school after a devastating reaccreditation review that found the Law School to be severely under-resourced. The board decided to "go big" by expanding entering classes and raising funds for the new Wesemann Hall, but many questioned the decision at the time.
Going back a number of posts, but also earlier than that, some of offered the phrase "VU could not make payroll". From anything that I have seen, that is not true and thus it is an overly dramatic exaggeration. Like most private universities, Valpo had a sudden loss of revenue from having to return money for housing and then from reduced enrollment in the coming year. This created a shortfall in covering operating expenses...the key word being operating. There were two choices....furloughs and eliminating some positions or claiming exigency and using endowment. Given that Valpo has a portion of the endowment, they could have used that money to cover the losses under exigency terms (if no terms exist, they also could have just gone to the donors). I do not mean to diminish the impact of furloughs and lost positions on people, but the university made a choice. Being in a position in which a firm or organization cannot "make payroll" implies that resources do not exist to allow choices...and in this case that is not true.
Yeah I think the reality is that the pandemic made something that might have happened at a slower pace such as downsizing happen much faster and feel more chaotic and difficult. They budget based on planned endowment spend plus tuition and board and food plus expected other financial areas. A significant portion of these funds evaporated in the space of 2-3 weeks with no idea when or if they would return. Furloughs occurred everywhere as did layoffs.
I also would add to the point about the law school that Valpo was an excellent regional law school that pulled many great people from the area. There's a reason it's not uncommon to see a Valpo Law degree still when looking at higher up and older judges and prosecutors across the state. That regional pull was important (even when I started most people I talked about Valpo to in the area that were older than me had a frame of reference of it having a good law school vs anything about the undergraduate part) and I would be fascinated if there was a change in student behavior that made it harder for the school to compete with those in Chicago, specifically people less likely to settle down after under grad and pick a school based more on location to where their family was vs law school feeling like an extension of undergrad.
"I didn't leave the University of Colorado to oversee a funeral."
-- Jose Padilla, Valparaiso University President (as quoted April 2021 in the Post-Tribune)
It might have signaled boldness and resolve, but perhaps that comment wasn't phrased very helpfully?
Quote from: valpo22 on July 19, 2022, 11:55:58 AMSo things are looking up, and I still think there can be a Valpo 2.0.
I very much appreciate your enthusiasm for Valpo's future. But, please remember that if this is a resurgence, it isn't Valpo 2.0 it is Valpo 20.0. Valpo has been around for 163 years! We have had and closed not only a Law School, but also a Pharmacy School and a Medical School. Good schools like Valpo survived the depression, world wars etc. Covid is the second pandemic for Valpo.
In spite of the layoffs you mentioned, also an evolutionary issue, places like the Business College, where I graduated from, have made ENORMOUS strides since I graduated. In those days there were a few PhD's but most of the faculty were MBA's or CPA's or just local business men making a few extra bucks teaching a class. I just checked and now Business has 21 PhD's and three lecturer MBA's and one CPA.
It's been a tough couple of years and I fully agree that Padilla is the right guy and this point in time.
The "I'm not here to preside over a funeral" comment was ill-advised, showed poor judgment, and did not befit an institution like Valparaiso University. I hope our new president has mothballed that phrase.
Paul
Agreed. It seemed a bit egotistical. He does project confidence. My sense is that he will shape things up dramatically to make the budget work. In reality that will involve more expense reductiions than revenue increases. Revenue doesn't come easily and they have to live with these small classes for 4 years.
Some call this role across companies and large orgs a "hatchet man." And that's not an insult in the corporate world. He looks like he has another presidency in his tank age wise. And he would be an appealing future candidate for a larger more prestigious presidency after another 3-4 years from now. I think this will be short term role.
valpo22, I may be misreading your intentions but to me, they come across as if Valpo, unlike its peers, was so mismanaged that it almost went under and still might. The reality was that virtually every university including the Ivy's, faced financial struggles due to the pandemic and many still do.
Here is an example of a well established University announcing major cuts to programs and faculty--and this article was just published in JUNE of THIS YEAR! Rider University has 3500 students, is 157 year old, BUT, and it is indicative of why Valpo's endowment drive was so important--only has an endowment of $64 million (2020).
https://planetprinceton.com/2022/06/08/citing-20-million-deficit-rider-university-slashes-programs-cuts-staff/
Quote from: vu72 on July 20, 2022, 01:10:04 PM
valpo22, I may be misreading your intentions but to me, they come across as if Valpo, unlike its peers, was so mismanaged that it almost went under and still might. The reality was that virtually every university including the Ivy's, faced financial struggles due to the pandemic and many still do.
Here is an example of a well established University announcing major cuts to programs and faculty--and this article was just published in JUNE of THIS YEAR! Rider University has 3500 students, is 157 year old, BUT, and it is indicative of why Valpo's endowment drive was so important--only has an endowment of $64 million (2020).
https://planetprinceton.com/2022/06/08/citing-20-million-deficit-rider-university-slashes-programs-cuts-staff/
Spot on comment! Unfortunately, since the Great Recession there have been major bloodlettings at universities across the prestige/ranking spectrum, including a lot of very solid private regional schools like VU. They will likely continue with the coming pool of traditional, college-age individuals continuing to shrink. Schools that get the "formula" right (whatever that happens to be) will survive and perhaps even thrive. Others will struggle and perhaps close up shop.
In any event, in terms of the impacts of heavy rounds of layoffs and departures, in my experience and observation, the cost is often more to internal morale than to external reputation. Whether it's senior faculty or junior faculty taking the brunt of the cuts, there's a palpable sense of felt loss within the institution.
(We experienced this at my school during the past decade. It also triggered an internal governance crisis. Unfortunately, some our dramas were played out in the pages of the Boston Globe. But the bigger costs were morale within the institution. We've made it through the worst of that time, but some of the effects linger.)
VU has definite strengths that it can use as advantages, including a long and deserved reputation for quality undergraduate education, managing a hard-to-balance blend between the liberal arts and vocational training, and being a place where values and faith matter -- the latter without being a more insulated "church college." The successful Forever Valpo campaign also helped to build an alumni/ae base willing to give money. Overall, this is a more interesting and sophisticated university than the one I attended some 40 years ago. I hope these qualities and good leadership are sufficient to give it a bright future.
A little off topic for the thread but @72 having PHDs is great but IMO it is not that valuable to the CoB. Business in network driven. Most PHDs at Valpo don't have a deep network because they've never worked outside academia and it is at a massive detriment to the students. Some do and are great at helping make connections, they are the exception not the rule and the best professors I had were always the ones with 20+ Business experience. They need a shift to getting a few more semi/retired industry vets that want a chill teaching job at we're partners/ MDs/ execs and can line up a number of interview slots each year for students. Not another PHD from a back water state school with zero work experience. The CoB Dean although new has somewhat acknowledged this and has made an effort to proactively seek out people.
The "I didn't come here to preside over a funeral" comment by President Padilla wasn't "egotistical." No, the problem with it is that it fed into the narrative/perception that VU was unstable, shaky, in dire straits, with a very real possibility of closing.
Imagine how that comment would go over with prospective students - and their parents. Recruiting kids to come here is hard enough.
VU needs a public relations win. Badly. The recently-concluded campaign, which raised $300 million, would make a nice story for the media to promote. But so far - nothing.
Paul
Quote from: 78crusader on July 21, 2022, 07:20:29 AMwould make a nice story for the media to promote. But so far - nothing.
Agree and was wondering the same thing. I wonder if they are waiting for Homecoming perhaps for the big reveal.
Quote from: 78crusader on July 21, 2022, 07:20:29 AM
The "I didn't come here to preside over a funeral" comment by President Padilla wasn't "egotistical." No, the problem with it is that it fed into the narrative/perception that VU was unstable, shaky, in dire straits, with a very real possibility of closing.
Imagine how that comment would go over with prospective students - and their parents. Recruiting kids to come here is hard enough.
VU needs a public relations win. Badly. The recently-concluded campaign, which raised $300 million, would make a nice story for the media to promote. But so far - nothing.
Paul
It is this great, fundamental fact- a fact which lies at the very heart of my personal philosophy of life and history-which has persuaded me to speak to you today concerning "The Destiny of a Christian University in the Modern World," and to submit to you that in view of the present crisis in the affairs of men this destiny is almost inconceivably great, both intellectually and spiritually. In choosing this topic I feel that I am, in a very small way, paying a debt of gratitude to the men and women who for fifteen years have carried the vision of this destiny in their hearts, and have given this University the full measure of their loyalty and devotion. I am certain also that I am merely reaffirming the compelling influences which guided my distinguished predecessors in their difficult task of reorganizing the University and carrying it safely through one of the most trying periods in the economic and social history of America. I am dominated by the conviction that we are now privileged to enter upon the heritage which they have given us and to build here a school, a center of learning and of faith, whose destiny cannot be limited by forces outside ourselves. The measure of the future of Valparaiso University is our own measure-the measure of our courage and our willingness to sacrifice in order that the dreams of the founders of the University may come true.--from O.P. Kretzmann's 1940 Inaugural address--
He spoke at the 1984 graduation and he was very impressive and enlightening. We are now in a different era of education for sure.
If you are referring to OP, I believe he passed away in 1975.
[/quote]
It is this great, fundamental fact- a fact which lies at the very heart of my personal philosophy of life and history-which has persuaded me to speak to you today concerning "The Destiny of a Christian University in the Modern World," and to submit to you that in view of the present crisis in the affairs of men this destiny is almost inconceivably great, both intellectually and spiritually. In choosing this topic I feel that I am, in a very small way, paying a debt of gratitude to the men and women who for fifteen years have carried the vision of this destiny in their hearts, and have given this University the full measure of their loyalty and devotion. I am certain also that I am merely reaffirming the compelling influences which guided my distinguished predecessors in their difficult task of reorganizing the University and carrying it safely through one of the most trying periods in the economic and social history of America. I am dominated by the conviction that we are now privileged to enter upon the heritage which they have given us and to build here a school, a center of learning and of faith, whose destiny cannot be limited by forces outside ourselves. The measure of the future of Valparaiso University is our own measure-the measure of our courage and our willingness to sacrifice in order that the dreams of the founders of the University may come true.
--from O.P. Kretzmann's 1940 Inaugural address--
[/quote]
Even though O.P.'s opening address was considered to be a sort of charter for the modern VU, it would be harder for a contemporary VU President to invoke such rhetoric successfully. The message would probably have to cast a wider net, while sounding a bit less officious. And even many alums and parents who might agree with the heart of its message might also be asking, "what's the vocational ROI on a Valpo education?"
Personally, I believe that the times call for a college education that embraces ideas and values, in addition to preparing students for a vocational life. Valpo has the capacity to get that blend right, but it's a challenging tightrope to walk.
He was such an orator. Someone on the board a few posts back found the impressive quote below. It would be great to see the context.
"IT IS THIS great fundamental FACT in which the Christian university...."
What is the FACT that is the antecedent to the pronoun "it"? Or would we prefer not to ask?
Quote from: crusadermoe on July 26, 2022, 03:51:24 PM
He was such an orator. Someone on the board a few posts back found the impressive quote below. It would be great to see the context.
"IT IS THIS great fundamental FACT in which the Christian university...."
What is the FACT that is the antecedent to the pronoun "it"? Or would we prefer not to ask?
The quote was from the third paragraph of Dr. Kretzmann's address. Immediately preceding it was the following:
"The Almighty is not yet on the side of the strongest battalions. He may not balance the scales of history every day, but when He does, the weight of the Universe is on the side of truth and mercy and justice and faith and hope and love. It is much too late in the time of man for God to forget these now."
Yep. Thought so.
Also consider the University motto: "In THY light we see light." Who is THY?
Anyone interested in that topic could read "The Dying of the Light: The Disengagement of Colleges and Universities from Their Christian Churches" (1998) by James Tunstead Burtchaell. Harvard led the parade that keeps getting longer.
Another source of interest might be the book of Joshua: "Choose this day whom you will serve." Some candidates for VU President were drummed out of town.
I sense some nostalgia for a return to O.P.'s vision of a more Christian & Lutheran Valpo. And it's very possible to read some of O.P.'s words and imagine a return to a more "small c" conservative version of the university.
However, it may be worth pointing out that O.P. regarded himself as being fairly cosmopolitan, having grown up in the melting pot of New York City and done his fair share of traveling. Relative to his times, O.P.'s version of Christianity in practice favored inclusion, including a position of racial acceptance grounded in faith. He also was a strong advocate for the liberal arts and humanities. The creation of Christ College was the capstone of his presidential tenure.
These qualities appear quite clearly in Richard Baepler's history of VU (Flame of Faith, Lamp of Learning) and his biography of Kretzmann (Keeper of the Dream).
Quote from: David81 on July 27, 2022, 08:46:17 PM
I sense some nostalgia for a return to O.P.'s vision of a more Christian & Lutheran Valpo. And it's very possible to read some of O.P.'s words and imagine a return to a more "small c" conservative version of the university.
However, it may be worth pointing out that O.P. regarded himself as being fairly cosmopolitan, having grown up in the melting pot of New York City and done his fair share of traveling. Relative to his times, O.P.'s version of Christianity in practice favored inclusion, including a position of racial acceptance grounded in faith. He also was a strong advocate for the liberal arts and humanities. The creation of Christ College was the capstone of his presidential tenure.
These qualities appear quite clearly in Richard Baepler's history of VU (Flame of Faith, Lamp of Learning) and his biography of Kretzmann (Keeper of the Dream).
Time for me to invoke some personal history. Dr. Baepler's son was my best man at my wedding and my father was "involved in helping" Dick Baepler write his VU history book.
https://www.encyclopedia.com/arts/educational-magazines/baepler-paul-1961 (https://www.encyclopedia.com/arts/educational-magazines/baepler-paul-1961)
Quote from: historyman on July 28, 2022, 06:31:55 AM
Quote from: David81 on July 27, 2022, 08:46:17 PM
I sense some nostalgia for a return to O.P.'s vision of a more Christian & Lutheran Valpo. And it's very possible to read some of O.P.'s words and imagine a return to a more "small c" conservative version of the university.
However, it may be worth pointing out that O.P. regarded himself as being fairly cosmopolitan, having grown up in the melting pot of New York City and done his fair share of traveling. Relative to his times, O.P.'s version of Christianity in practice favored inclusion, including a position of racial acceptance grounded in faith. He also was a strong advocate for the liberal arts and humanities. The creation of Christ College was the capstone of his presidential tenure.
These qualities appear quite clearly in Richard Baepler's history of VU (Flame of Faith, Lamp of Learning) and his biography of Kretzmann (Keeper of the Dream).
Time for me to invoke some personal history. Dr. Baepler's son was my best man at my wedding and my father was "involved in helping" Dick Baepler write his VU history book.
https://www.encyclopedia.com/arts/educational-magazines/baepler-paul-1961 (https://www.encyclopedia.com/arts/educational-magazines/baepler-paul-1961)
That's wonderful!
I've read or at least dipped into dozens of histories of colleges and universities, and I regard Baepler's history of VU to be among the top of the category. It is a well-crafted narrative, rich in detail, and willing to proffer some opinion and interpretation. It shows an obvious affection for VU, without dodging the more difficult and challenging episodes in its history. And, unlike so many books of this type, he actually gets into stream of everyday life for students and faculty at the university, rather than making it a dull, bird's eye view tale of presidents, deans, and trustees.
I got to know him a bit when I interviewed him several times for The Torch. When his book came out, I emailed the sentiments above to him and received a warm and friendly response. When I spent part of a research sabbatical at VU back in 2016, I reached out to him and invited him to lunch, and we had an enjoyable conversation. It was there that I learned he was completing a book about O.P. Kretzmann, and I would later receive a copy of it.
I regret that I had missed his passing, which came early during the pandemic. I regard him as an exceptional individual.
Quote from: David81 on July 28, 2022, 10:33:58 AM
Quote from: historyman on July 28, 2022, 06:31:55 AM
Quote from: David81 on July 27, 2022, 08:46:17 PM
I sense some nostalgia for a return to O.P.'s vision of a more Christian & Lutheran Valpo. And it's very possible to read some of O.P.'s words and imagine a return to a more "small c" conservative version of the university.
However, it may be worth pointing out that O.P. regarded himself as being fairly cosmopolitan, having grown up in the melting pot of New York City and done his fair share of traveling. Relative to his times, O.P.'s version of Christianity in practice favored inclusion, including a position of racial acceptance grounded in faith. He also was a strong advocate for the liberal arts and humanities. The creation of Christ College was the capstone of his presidential tenure.
These qualities appear quite clearly in Richard Baepler's history of VU (Flame of Faith, Lamp of Learning) and his biography of Kretzmann (Keeper of the Dream).
Time for me to invoke some personal history. Dr. Baepler's son was my best man at my wedding and my father was "involved in helping" Dick Baepler write his VU history book.
https://www.encyclopedia.com/arts/educational-magazines/baepler-paul-1961 (https://www.encyclopedia.com/arts/educational-magazines/baepler-paul-1961)
That's wonderful!
I've read or at least dipped into dozens of histories of colleges and universities, and I regard Baepler's history of VU to be among the top of the category. It is a well-crafted narrative, rich in detail, and willing to proffer some opinion and interpretation. It shows an obvious affection for VU, without dodging the more difficult and challenging episodes in its history. And, unlike so many books of this type, he actually gets into stream of everyday life for students and faculty at the university, rather than making it a dull, bird's eye view tale of presidents, deans, and trustees.
I got to know him a bit when I interviewed him several times for The Torch. When his book came out, I emailed the sentiments above to him and received a warm and friendly response. When I spent part of a research sabbatical at VU back in 2016, I reached out to him and invited him to lunch, and we had an enjoyable conversation. It was there that I learned he was completing a book about O.P. Kretzmann, and I would later receive a copy of it.
I regret that I had missed his passing, which came early during the pandemic. I regard him as an exceptional individual.
There was a memorial service later at the Chapel but his funeral service was only attended by Paul, Danielle (Paul's sister), Danielle's husband and the pastor. Covid was/is tough during these times.
Quote from: valpo22 on July 29, 2022, 10:27:34 AM
Kretzman's vision doesn't have to mean the sort of stereotypical packaging of Christianity in America.
In the late 2010s there a swell of new hires from Ivies, Ivy-pluses and other R1 schools who were pretty serious Christians but from all across the political and cultural spectrums... some more liberal leaning and some more conservative-leaning white Christian faculty, and some more liberal and some more conservative leaning faculty from Black/Asian/other minoritized group backgrounds in the liberal arts. Most of them are gone now, including most the ethnic-minority-but-theologically-conservative-evangelicals and Catholics... so I think the remaining university is mostly more White and secular at the moment just because of all the COVID employment upheaval. But still, it showed that to be a "Christian" or "Lutheran" university doesn't necessarily mean WASP university. Valpo has had moments where there was more internal diversity among committed Christians trying to think carefully and live generously in this crazy world, and it could happen again. From my reading of him, I think Kretzman would have delighted in that. He wanted students to wrestle with the whole 'faith and reason' thing not in a vacuum but in the real and culturally complicated world.
Admittedly, Padilla is more a laywer/businessman than any sort of philosopher of education... he seems to put some priority on faith/justice sort of talk (he's into the homeless Jesus statue) and in focusing on becoming a Hispanic serving institution, but it is still yet to be seen what that all will look like. I'll be curious to see how the religious/demographic identity stuff plays out. I suppose it would be interesting proposition to become a Latino/a (Protestant?) university in northwest Indiana. To me that seems kind of a hard sell, and I admit I would have thought it would have been easier to just encourage/support the historic Black Christian communities in the Region in coming and staying at Valpo. But it probably doesn't make sense anymore with most the Black faculty laid off or recently left, nobody much left to mentor such students. So maybe the pivot to Hispanic serving is actually more viable, since there is still a Spanish program and some Spanish-speaking faculty? I'm sure the uni must be doing lots of demographic research on the Latino/a communities in Chicago to aim for enrollment draws there or they wouldn't be prioritizing the Hispanic-serving designation and funding so much. St. T's Catholic campus ministry does well in supporting the various midwestern or immigrant Hispanic and Asian Catholic studetns at Valpo. Or maybe hopefully the German/Scandinavian Lutherans will start having more babies again and we'll see them showing up in about 18 years, which would also help Valpo a lot.
Everybody have more babies!!! So much of all this identity stuff is really not anything a college leadership can control, but just depends on birth rates.
I knew it all came down to having more sex, of course, with someone of the oppo sex that you can legally procreate with. ;)
VU is full of smart people, smarter than me, but when it comes to enrollment strategy and overall vision for the University, I question their wisdom.
For years now they have tried to be all things to all people - to water down our Christian heritage in the hopes of casting a wider net for prospective students (and their parents).
It hasn't worked.
I don't know how anyone can argue that point.
Has anyone noticed the more VU embraces a progressive/woke culture, the more difficulty it has in getting students to come here?
Some of you probably received the Alumni Survey recently. It spoke volumes to me since there was maybe one question about faith in the whole thing. Maybe two, I haven't studied it thoroughly. That's it. From a place that boasts the largest collegiate chapel in the United States, as if that really means anything.
It is a lose/lose approach. The progressive ideology turns off many of the kids who come from conservative backgrounds. And VU's reputation (fading, unfortunately) as a faith-based school, which to many means an overall conservative philosophy, doesn't play well in many cases for the more progressive student.
If you try to please everyone, you wind up pleasing no one. How hard is that to understand? Don't the enrollment numbers and other difficulties of the past 5 years say anything to the folks who run this place?
Fortunately - for now - we are no worse off, and in some cases better off, than many of our peer institutions. But that won't be the case for long if we continue down the path we've been on. Consider the last 5 years: Law school closing. Enrollment issues. Layoffs. Sued by the Indiana Attorney General for operating the Confucius Institute (at a time when many schools had, wisely, eliminated that program). A fire that wrecked the Art-Psychology building.
For the last several years I have avoided reading any news article that contained "Valparaiso University" in its headline for the simple reason that I was sure the article would be bad for VU. We can't afford any more negative PR. I can't google VU since I'm afraid all I'll see will be negative headlines/news stories. Imagine what a prospective student sees when they google VU.
Scoff if you want, but I don't consider these to be coincidences or a bunch of random events. I think the University has lost God's protection and provision by straying off course. Let me finish up by quoting Jim McCormick, VP of Colorado Christian College, which has seen (as has many other Christian schools) an dramatic increase in enrollment over the last several years:
"I really believe that a lot of parents out there who decide that they want to pay for Christian college have realized that a lot of Christian colleges have left their moorings...They're not going to pay private school Christian education tuition to a school that's wandering in their mission and is not as Christ-centered as they used to be....as we strengthened our core of who we were...our enrollment started to go up... you can be more niche-oriented and actually grow."
Paul
Quote from: 78crusader on July 31, 2022, 05:11:06 PM
...Fortunately - for now - we are no worse off, and in some cases better off, than many of our peer institutions. But that won't be the case for long if we continue down the path we've been on. Consider the last 5 years: Law school closing. Enrollment issues. Layoffs. Sued by the Indiana Attorney General for operating the Confucius Institute (at a time when many schools had, wisely, eliminated that program). A fire that wrecked the Art-Psychology building.
For the last several years I have avoided reading any news article that contained "Valparaiso University" in its headline for the simple reason that I was sure the article would be bad for VU. We can't afford any more negative PR. I can't google VU since I'm afraid all I'll see will be negative headlines/news stories. Imagine what a prospective student sees when they google VU.
Scoff if you want, but I don't consider these to be coincidences or a bunch of random events. I think the University has lost God's protection and provision by straying off course. Let me finish up by quoting Jim McCormick, VP of Colorado Christian College, which has seen (as has many other Christian schools) an dramatic increase in enrollment over the last several years:
"I really believe that a lot of parents out there who decide that they want to pay for Christian college have realized that a lot of Christian colleges have left their moorings...They're not going to pay private school Christian education tuition to a school that's wandering in their mission and is not as Christ-centered as they used to be....as we strengthened our core of who we were...our enrollment started to go up... you can be more niche-oriented and actually grow."
Paul
Well....do you really want to use the President of Colorado Christian University, a school with a required lifestyle "covenant" and mandated chapel attendance, and an institution not even close to VU in terms of legacy, reputation, and financial resources, to make your case for how to increase enrollment? CCU is a niche school that will appeal to evangelical Christians. VU is a more cosmopolitan institution and, at least, since the Kretzmann years, has always sought to be more worldly in terms of its appeal. It's presumably in a much better financial position than CCU. Among other things, CCU's 2019 endowment was listed at a paltry $4.85 million. (Yes, the decimal point comes right after the 4.)
I just Googled "Valparaiso University" and didn't come up with the parade of horribles you mention. Part of it may be due to location; I'm in Boston, and I'm guessing the algorithms take location into account. But more to the point, VU's recent negative events mimic those of so many other mid-range, regional universities that they're hardly "news." Layoffs, program closures, department closings, you name it, have been pretty much SOP for hundreds of schools across the country.
And believe me, anyone who goes to VU's website and spends a few minutes clicking around is not going to confuse it with Grinnell or Oberlin or Macalester or any other smaller, midwestern schools known for leaning left. VU's street rep is clearly that of a more traditional, conservative leaning school with a pronounced faith tradition. Anyone who reads up on potential schools to attend will figure that out pretty quickly.
Folks, in terms of the applicant pool, it's mainly numbers and finances, with perhaps a dollop of social/political leanings. Gen Z is more liberal than some of its predecessors, but that isn't all controlling in terms of enrollment. But a smaller pool of traditional-age college applicants and fierce competition in terms of financial aid are strongly shaping the game.
David81 -
As usual, you make excellent points.
One thing to consider - with all the drawbacks of a small school with a tiny endowment and a reputation that, as you point out, doesn't measure up in any way to VU, CCU still had a freshman enrollment of 500 in 2021 - a increase from previous years, despite the tough environment that all private universities find themselves in. That isn't VU freshman class size, but closer than the endowment numbers, legacy and reputation differences would suggest. They must be doing something right.
Paul
Quote from: valpo22 on August 01, 2022, 08:42:22 AMthat the retention rate for minority students in Engineering is abysmal, etc.
Does this mean that they are discriminated against or ostracized or does it mean that Valpo provides a challenging academic environment that everyone isn't cut out for?
My daughter is currently college searching and wants to major in Chemical/biomedical Engineering. Her GPA is above 4.0, and has lots of activities and leadership and fellowship. Her biggest need is a great STEM program without breaking the bank. So far Rice is her number one choice, but the competition and acceptance rate is against her. She is also looking at Iowa State (in-state tuition), Texas A&M, Northwestern and USC.
IMO, Valpo should invest more in STEM education to stay competitive.
There is much to unpack in these recent posts.
First, I am from the midwest and did a standard search and a news search on Valparaiso University using Google. No negatives on standard search. Potential negatives on Google News search: a former law school student and US Rep. charged with insider trading and a former undergrad convicted of felonies...along with the aforementioned Confucious Institute and mascot name change issues.
78Crusader: You seem to argue that there are two ideological choices associated with Valparaiso University and its strategies – either be completely secular with no religious emphasis or completely embrace a religious identity to create a Christian-focused homogenous environment. Further, you argue that the latter is the only way to increase enrollment and use a single case (CCU) to justify your position. This is a false argument in that it dismisses the range of available options. Many Christian affiliated universities offer an environment where students can choose to participate in a rich religiously-oriented environment – but that it is each student's choice and they can also choose little or no engagement with religiously-oriented activities. They are also welcome to pursue activities associated with their own religious beliefs–Christian or non-Christian. In other words, the university's mission supersedes the dogma. The model that best represents this is the one followed by Catholic Jesuit universities and I believe that this is the model that Valparaiso attempts to follow (and should follow). I teach at one of these Jesuit universities and our incoming Freshman class is up about 15% from 2020 and 2021 (I think Loyola has similar numbers - not to say that these few datapoints provide justification for my position, just that you can almost always find a few datapoints that are consistent with an argument). A second pragmatic issue associated with this topic is that Valparaiso University is likely to significantly lose donors if it attempts to implement a homogenous ideological environment. This is not associated just with future donations, but it is also associated with donations pledged that are part of the endowment. If you think about the ideological spectrum of donors, there would probably be minimal increases from those who desire Valparaiso follow a more homogenous ideological environment - but donors towards the other end of the spectrum may discontinue any donations (including those that comprise the endowment)
Quote from: usc4valpo on August 01, 2022, 10:35:22 AM
My daughter is currently college searching and wants to major in Chemical/biomedical Engineering. Her GPA is above 4.0, and has lots of activities and leadership and fellowship. Her biggest need is a great STEM program without breaking the bank. So far Rice is her number one choice, but the competition and acceptance rate is against her. She is also looking at Iowa State (in-state tuition), Texas A&M, Northwestern and USC.
IMO, Valpo should invest more in STEM education to stay competitive.
While Valpo will never offer the same level of facilities and research as the universities you list, I would say that Valpo's investment in STEM (especially engineering) has been greater than a majority of its peers (universities with engineering programs who do not have PhD programs). Further, its greatest strengths lie in its faculty and their ability to work effectively with undergraduate students. I know that college choices are based on many factors and only your daughter can choose what is right for her, but I encourage you to reach out to the new Dean of the College of Engineering (Doug Tougaw). He is a great leader and advocate for the College of Engineering, but will also provide an honest assessment of how the College may or may not meet your daughter's objectives (note, he may also delegate this - but I am sure you would get similar candid feedback).
Yeah the most recent academic buildings are all dedicated to the sciences with the brand new Science building with all new updated lab space, the addition of a cadaver lab and forensic science classes and all of the additions to engineering including a space that I believe was just built this year.
Engineering has a ton of resources and unique experiences, including the Solar furnace and the addition of lab space and materials for bio engineering and other majors.
Quote from: usc4valpo on August 01, 2022, 10:35:22 AM
My daughter is currently college searching and wants to major in Chemical/biomedical Engineering. Her GPA is above 4.0, and has lots of activities and leadership and fellowship. Her biggest need is a great STEM program without breaking the bank. So far Rice is her number one choice, but the competition and acceptance rate is against her. She is also looking at Iowa State (in-state tuition), Texas A&M, Northwestern and USC.
IMO, Valpo should invest more in STEM education to stay competitive.
Hmmm. When was the last time you were on campus? The brand new Bio/Chem building? The Fites addition to Gellerson, the brand new bio-engineering addition to Gellerson, The only undergraduate Solar furnace in the nation, a pre-med program with an over 80% acceptance rate to med school, a cadaver lab (I'm told this is very rare at Undergrad schools) I think Valpo is doing just fine in this area.
https://www.youtube.com/watch?v=MnzXPbsihsY
ok, we will have to check on this. She really likes Rice, but that will be a stretch.
As much as I really don't like to give too much credence to the US News rankings, the fact is that VU's engineering school has done well in those rankings. While I'm sure there's more that could be done to support STEM programs, VU is pretty solid in that regard.
In fact, VU is pretty solid across the board when it comes to undergraduate education. I regret that US News (here we go again) reclassified VU several years ago, taking it out of the more appropriate regional university category in which it more than held its own. Its current rankings category obscures the high quality of undergraduate instruction at the school.
The only major unit of the school that struggled in the US News rankings was the Law School, in some cases due to circumstances beyond its control. Nevertheless, in the years preceding the 2008 recession, it was out punching its weight in terms of placing graduates in sought-after legal positions.
It does come down to costs for many. Let's say you're a high school senior from a middle class background with very respectable grades, test scores, and other credentials. Not a superstar, but very solid. You also happen to be a Protestant who regularly attends church, perhaps even a Lutheran one. Let's further suppose that, all things being equal, you'd prefer a more modestly sized campus setting with a faith tradition. But along comes Flagship State U with name recognition and a decent scholarship package. From a cost standpoint alone, VU already is playing catch-up ball, as it can't give a ton of $$$ to a strong but not super duper applicant without extraordinary financial need.
Valpo is doing well in STEM and it's a strength. Make it even stronger with more commitment. At least that's how the Strength Finders philosophy works.
My daughter is actually looking for a bigger school and church affiliation is not a factor in her decision. I doubt Valpo is the right fit, which is ok. Valpo cannot meet everyone's needs.
Quote from: 78crusader on July 31, 2022, 06:45:46 PM
David81 -
As usual, you make excellent points.
One thing to consider - with all the drawbacks of a small school with a tiny endowment and a reputation that, as you point out, doesn't measure up in any way to VU, CCU still had a freshman enrollment of 500 in 2021 - a increase from previous years, despite the tough environment that all private universities find themselves in. That isn't VU freshman class size, but closer than the endowment numbers, legacy and reputation differences would suggest. They must be doing something right.
Paul
Paul, yes, it does seem like Colorado Christian University is doing well on the student recruitment side.
In some ways it's easier for a more narrowly defined niche school to go after its obvious constituency. VU is different. It seeks to excel at both liberal arts and vocational/professional training. If it gives up one or the other, it becomes severely diminished -- and also stands to lose a megaton of alumni support.
VU also seeks to hold true to its Lutheran heritage while being a welcoming place to those of other faith traditions and varied demographic groups. I'm all for that, too. The VU of my day (77-81) was not all that diverse -- and I'm not talking by modern "DEI" or woke standards, I mean it was downright homogeneous.
I see nothing wrong with a school that tries to balance these elements, however precariously. In fact, I see it as a strength in terms of what a university should offer its students. But in an age where the extremes sometimes win the argument, that balance isn't fully appreciated right now. I hope that VU can get the blend right, while filling its classes with students who will be happy there.
There are many good and thoughtful comments with respect to VU's choices and strategy. I agree that it is not necessary to have an either/or approach. (Similarly, I also argued that VU did a terrible job messaging with the departure of the previous mascot - the interim president and the student body president in particular made it seem like anyone who had any affinity for the old mascot was a racist dinosaur. There should have been an embrace and recognition of all of good memories and traditions from the old mascot even with an acknowledgment of the new. Yet I digress.)
One thing that has changed is that the leadership (and Presidents) in particular have moved in other directions.
President Harre was an ordained LCMS pastor, and all previous presidents were also ordained LCMS pastors. President Harre also had deep ties to the LCMS and the Concordia University System. In addition, President Harre hired Bill Karpenko to be Director of Church Relations at VU. Karpenko had been head of the Director of Christian Education (DCE) program at Concordia Nebraska and deeply engaged with the entire LCMS DCE program. So, if a young person at an LCMS congregation talked to their pastor or DCE about Valpo, those individuals would probably have positive (or at least neutral) things to say about VU.
President Heckler was the first non-ordained President of VU, and his background was ELCA. He also seemed to make the university more secular. President Padilla is Catholic, though thankfully seems to be serious about his faith. What is clear is the fraction of Lutheran undergrads (and LCMS students in particular) has fallen off a cliff after President Harre.
As with the law school. The detachment of the LCMS from Valpo was happening, or at least beginning, during Harre's time as well.
I knew several Lutheran Students who had indicated that their LCMS members did not consider Valpo a true Lutheran University like the Concordia's. There was also a huge pushback after 9/11 when a multi faith service was held in the chapel. There were already a large amount of Catholic Students attending Valpo at that time as well.
I think that Valpo's invocation of values -- which definitely can include, but doesn't necessary equate with, faith -- has a broader appeal that can include people of different social, political, and religious beliefs. This isn't a purely "liberal arts" thing either, as exemplified by a wonderful journal the College of Business has successfully published for many years now, the Journal of Values-Based Leadership:
https://scholar.valpo.edu/jvbl/ (https://scholar.valpo.edu/jvbl/)
Hopefully the right messaging can attract the kinds of students who gravitate towards thinking about the bigger picture, regardless of their individual paths and belief systems.
I've said it before, but my generation and younger are much less religious than prior generations. I read recently that 28% of folks 40 and younger now consider themselves as unaffiliated/not religious. This trend will only continue among the youth, so putting your stock in being a highly religious institution, will not provide long-term stability.
The true colors of the Indiana AG, Todd Rokita, are showing up with a very ugly head.
https://www.wfyi.org/news/articles/rokita-under-investigation-by-state-disciplinary-commission-according-to-attorney-petition
Rokita under investigation by state Disciplinary Commission, according to attorney petition
https://www.wfyi.org/news/articles/rokita-under-investigation-by-state-disciplinary-commission-according-to-attorney-petition
Quote from: historyman on February 10, 2023, 12:19:11 PM
The true colors of the Indiana AG, Todd Rokita, are showing up with a very ugly head.
This related to Forever Valpo Fundraising? Or is it because Rokita was critical of VU's Confucius Institute in 2021, when Valpo was one of the last remaining Confucius Institutes that had not been closed by their host institutions? (VU closed it on March 1, 2022.)
Quote from: valpo95 on February 10, 2023, 01:05:48 PM
Quote from: historyman on February 10, 2023, 12:19:11 PM
The true colors of the Indiana AG, Todd Rokita, are showing up with a very ugly head.
This related to Forever Valpo Fundraising? Or is it because Rokita was critical of VU's Confucius Institute in 2021, when Valpo was one of the last remaining Confucius Institutes that had not been closed by their host institutions? (VU closed it on March 1, 2022.)
Well, at least once it was mentioned but for the life of me I can't find it anymore. This thread has wandered around to so many different topics that Hansel and Gretl would have been lost even if they had dropped warehouses of food while trying to find their way. Lawyer Rokita has errored greatly in thinking the trend of the people towards a conservative agenda outweighed the actual law. He should have been much more careful and saw it as a political opportunity.
The FY 2022 NABUCO results are out, and it shows the VU endowment was at $326.7M. This is good for #276 in total amount. This places VU just a bit behind Bradley, and just ahead of Butler, Drake and Gustavus Adolphus for example. You can see the entire list here:
https://www.nacubo.org/-/media/Nacubo/Documents/research/2022-NTSE-Public-Tables--Endowment-Market-Values--FINAL.ashx?la=en&hash=362DC3F9BDEB1DF0C22B05D544AD24D1C44E318D (https://www.nacubo.org/-/media/Nacubo/Documents/research/2022-NTSE-Public-Tables--Endowment-Market-Values--FINAL.ashx?la=en&hash=362DC3F9BDEB1DF0C22B05D544AD24D1C44E318D)
Note that the endowment for VU shows a change of -6.81%: This is the net change (additions - withdrawals + investments gains/losses).
Quote from: valpo95 on February 17, 2023, 03:06:06 PM
The FY 2022 NABUCO results are out, and it shows the VU endowment was at $326.7M. This is good for #276 in total amount. This places VU just a bit behind Bradley, and just ahead of Butler, Drake and Gustavus Adolphus for example. You can see the entire list here:
https://www.nacubo.org/-/media/Nacubo/Documents/research/2022-NTSE-Public-Tables--Endowment-Market-Values--FINAL.ashx?la=en&hash=362DC3F9BDEB1DF0C22B05D544AD24D1C44E318D (https://www.nacubo.org/-/media/Nacubo/Documents/research/2022-NTSE-Public-Tables--Endowment-Market-Values--FINAL.ashx?la=en&hash=362DC3F9BDEB1DF0C22B05D544AD24D1C44E318D)
Note that the endowment for VU shows a change of -6.81%: This is the net change (additions - withdrawals + investments gains/losses).
That % loss is mild compared to what many other universities experienced. Those losses generally didn't wipe out the huge gains from a year or two ago, but they stung.
Not unlike the experience of tracking one's retirement account over the past year..... 🤣🤣🤣
Quote from: David81 on February 17, 2023, 10:28:03 PM
Quote from: valpo95 on February 17, 2023, 03:06:06 PM
The FY 2022 NABUCO results are out, and it shows the VU endowment was at $326.7M. This is good for #276 in total amount. This places VU just a bit behind Bradley, and just ahead of Butler, Drake and Gustavus Adolphus for example. You can see the entire list here:
https://www.nacubo.org/-/media/Nacubo/Documents/research/2022-NTSE-Public-Tables--Endowment-Market-Values--FINAL.ashx?la=en&hash=362DC3F9BDEB1DF0C22B05D544AD24D1C44E318D (https://www.nacubo.org/-/media/Nacubo/Documents/research/2022-NTSE-Public-Tables--Endowment-Market-Values--FINAL.ashx?la=en&hash=362DC3F9BDEB1DF0C22B05D544AD24D1C44E318D)
Note that the endowment for VU shows a change of -6.81%: This is the net change (additions - withdrawals + investments gains/losses).
That % loss is mild compared to what many other universities experienced. Those losses generally didn't wipe out the huge gains from a year or two ago, but they stung.
Not unlike the experience of tracking one's retirement account over the past year..... 🤣🤣🤣
So I looked at our conference peers and found the following:
Bradley $341 Million
Valpo 327
Belmont 302
Drake 245
IL State 180
So. IL 172
N. Iowa 163
Murray St. 100
Evansville 99
Missouri St. 98
Indiana St. 80
UIC doesn't have their own but is supported by the Illinois University endowment.
Butler would rank fourth at $253.
So, on a per student basis, Valpo is ranked No. 1. in our conference.
That's nice but nothing something we can feel overly outstanding about. Valpo is in a funk and ee still cannot get project funding and we are in the situation to sell artworks for an important need to update residential facilities.
Quote from: usc4valpo on February 20, 2023, 02:10:33 PM
That's nice but nothing something we can feel overly outstanding about. Valpo is in a funk and ee still cannot get project funding and we are in the situation to sell artworks for an important need to update residential facilities.
It isn't the answer in and of itself but it's part of the answer. The answer in a larger enrollment. But, without the endowment everything would be much worse.
Sorry, but there is a yellow light ahead for endowment funds. They are awesome tools when the market is rising, especially when it rises well beyond your annual spending rate.
My understanding is that those funds cannot pay out if their value is lower than the original gifts total. So with the market's recent declines do we have yet another iceberg on the budgeting horizon?
David81 or someone else could probably confirm the way that endowment funds work in down markets.
Quote from: crusadermoe on March 22, 2023, 02:06:33 PMDavid81 or someone else could probably confirm the way that endowment funds work in down markets.
This may be helpful:
From the NACUBO website:
Endowments are not rainy-day funds. Endowments are managed to provide colleges and universities with a steady and reliable source of funding over the long term. Investment strategies and spending policies are designed to soften the impact of volatile markets. The 2019 NTSE found that 74 percent of institutions spend a percentage of the moving average of the endowment's market value. A moving average approach softens the impact of market fluctuations by applying spending rates to an average of prior-year endowment balances, such as the past three years, five years, 12 quarters, or even 20 quarters.
Spending policies vary, but as an example, in FY20, a college with a 5-percent payout rate that uses a three-year moving average will withdraw 5 percent of the average value of the endowment over the past three years (not simply 5 percent of the current value).
Ok, good. That makes sense.
Maybe a trailing average will be fine for now if that is what they use.
The market has come roaring back in 2023. The S&P is up 20% YTD. It has nearly gained back all the 2022 losses. I sure didn't see that coming in the face of high interest rates on fixed investments.
Perhaps an extra distribution in 2024 can help bridge us to a better enrollment.
Quote from: crusadermoe on December 13, 2023, 04:20:29 PM
The market has come roaring back in 2023. The S&P is up 20% YTD. It has nearly gained back all the 2022 losses. I sure didn't see that coming in the face of high interest rates on fixed investments.
Perhaps an extra distribution in 2024 can help bridge us to a better enrollment.
So this coming presidential election will have a great impact on VU too.
Quote from: crusadermoe on December 13, 2023, 04:20:29 PM
The market has come roaring back in 2023. The S&P is up 20% YTD. It has nearly gained back all the 2022 losses. I sure didn't see that coming in the face of high interest rates on fixed investments.
Perhaps an extra distribution in 2024 can help bridge us to a better enrollment.
I think it helps, yet let's not get too excited.
In round numbers, if VU's endowment was at $350M and it went up 20%, it would be an increase of $70M (to $420M). Assuming a 5% payout rate on the endowment, that would translate into $3.5M of additional spending from the endowment for the year. VU has an annual budget in the range of $120M of spending, so an additional $3.5M of revenue is helpful yet not a game-changer. Note however that the endowment is not all invested in the stock market, so probably the growth in the endowment is less than the 20% of the S&P 500.
The downside is that VU has about $150M of structural debt. Much of that is long-term construction debt which stays at a fixed rate. Yet there was about $21M borrowed on a line of credit - the terms of which went from approximately 2% interest rate in 2022 to I'm guessing about 5.7% for 2023. So, that would result in additional interest costs of about $800K assuming the line of credit borrowings stayed the same.
Net-net, nice to see the endowment grow which helps secure the future of VU. In the short run, the additional revenues are more than the additional spending, yet probably not enough to make a huge difference in one year.
(Most of my numbers come from the 2022 audit report, so perhaps things have changed.)
Quote from: crusadermoe on December 13, 2023, 04:20:29 PM
The market has come roaring back in 2023. The S&P is up 20% YTD. It has nearly gained back all the 2022 losses. I sure didn't see that coming in the face of high interest rates on fixed investments.
Perhaps an extra distribution in 2024 can help bridge us to a better enrollment.
Yes, I have enjoyed seeing investments start a return to respectable levels, and I am hoping the predicted cuts to the Fed rate in 2024 will keep the momentum going. Plus, I have heard some good news that early enrollment numbers at VU are especially encouraging, though the application landscape and the university's acceptance schedule have changed a bit this year, so comparisons to the past are difficult thus far. However, contrarian economist Harry Dent is bucking the trend of optimistic outlooks and predicting a depression-like crash in 2024, and numerous media observers are warning that the next year could match or surpass 1968 in political or social disorder, which I remember well even as a high school kid. So, who knows? I am hoping for the best, but my guess is that everyone should fasten their seatbelts as the new year approaches because the next 12 months are guaranteed to offer a bumpy ride.
While I certainly hope that enrollment is going well, I suggest being cautious when any general comments about enrollment that are not accompanied by data. Further, there are really only three measures that are good indicators: # of visits, prospective students who have stated that they will enroll, and deposits. Given that applying to more universities is easy once someone has applied to one, the number of applications is essentially meaningless.
Quote from: vu84v2 on December 20, 2023, 02:40:00 PM
While I certainly hope that enrollment is going well, I suggest being cautious when any general comments about enrollment that are not accompanied by data. Further, there are really only three measures that are good indicators: # of visits, prospective students who have stated that they will enroll, and deposits. Given that applying to more universities is easy once someone has applied to one, the number of applications is essentially meaningless.
My comment was made after seeing all the data, including the three categories you mention. I don't rely only upon others' reports. However, my continued caution is based upon a later than usual federal funding schedule and a new earlier VU acceptance schedule.
valpopal - Thanks...and I should have said thanks previously when you posted the update.
Valpo1995 points out well the structural deficit issue vs. the endowment bump I mentioned. The board should address those before giving itself an "out: through an extra chunk of spending.
He also says the 2023 market growth is mitigated by some VU fixed investments. And maybe they use a trailing average that also mitigates the effect. But the good market year does help in any case.
We raised a ton of money ($250 million) in our big ENDOWMENT campaign that ended in 2021 of 2022 and it was widely heralded as a Heckler legacy.
So:
With the strong market rebound in 2023 (well over 25%), how much endowment income is forecast for the 2024-2025 academic year? How will that compare to 2023-2024 and prior years?
And of course that "Forever" money from Heckler was alleged to raise spendable money too. Where did that money go?
Quote from: crusadermoe on January 15, 2024, 11:31:50 AM
of course that "Forever" money from Heckler was alleged to raise spendable money too. Where did that money go?
https://www.valpo.edu/valpomag/2022/01/14/forever-more/
Found this article from '22. Around $30M went into annual giving for immediate-use spending on student scholarships.
An easy peasy, back-of-the-envelope answer to "how much endowment income is available for immediate spending?" is to multiply the current endowment by 4 percent, which is the standard draw to ensure that the principle continues to grow.
Bigger percentage draws because the endowment just had a fabulous year are a possibility, but it may be much wiser to hold onto the money to ensure that you can draw more than 4 percent during down years for the market.
Quote from: David81 on January 15, 2024, 11:05:50 PM
An easy peasy, back-of-the-envelope answer to "how much endowment income is available for immediate spending?" is to multiply the current endowment by 4 percent, which is the standard draw to ensure that the principle continues to grow.
Bigger percentage draws because the endowment just had a fabulous year are a possibility, but it may be much wiser to hold onto the money to ensure that you can draw more than 4 percent during down years for the market.
Agree with the philosophy presented by David81, but from my experience talking with advancement and finance people within universities the annual draw is usually 5 percent unless, for individual items, doing so draws the item under the original donation amount.
Quote from: vu84v2 on January 16, 2024, 09:31:10 AM
Quote from: David81 on January 15, 2024, 11:05:50 PM
An easy peasy, back-of-the-envelope answer to "how much endowment income is available for immediate spending?" is to multiply the current endowment by 4 percent, which is the standard draw to ensure that the principle continues to grow.
Bigger percentage draws because the endowment just had a fabulous year are a possibility, but it may be much wiser to hold onto the money to ensure that you can draw more than 4 percent during down years for the market.
Agree with the philosophy presented by David81, but from my experience talking with advancement and finance people within universities the annual draw is usually 5 percent unless, for individual items, doing so draws the item under the original donation amount.
vu84v2 is right...around 5 percent is often the presumptive draw...sorry, I keep mixing up with retirement funding standard draw of 4 percent. (Not that I'm thinking about that any time soon......😆)
The 2023 NACUBO study is out - a full version is available here https://www.nacubo.org/Research/2023/Public-NCSE-Tables (https://www.nacubo.org/Research/2023/Public-NCSE-Tables).
This is for fiscal year 2023, which runs from July 2022 to June 2023.
It shows that VU is #287, with a total endowment market value of $315M. This is down from $326M in FY2022. This is a decline of 3.4. Note that this is not the investment return; this is the net impact of additions to the endowment, withdrawals from the endowment, and investment gain or losses. (For reference, Harvard had the highest endowment value of 49.5B, a 0.1% increase from 2022).
Compared to some of our similarly-sized private peers, VU had a larger decline. Bradley was up 1.6, Belmont up 6.7, Gustavus Adolphus up 4.8, Butler up 5.6, Drake up 8.8. Of course, if they had large contributions to their endowments, that would be reflected in their increases.
Quote from: valpo95 on February 15, 2024, 10:16:12 AM
The 2023 NACUBO study is out - a full version is available here https://www.nacubo.org/Research/2023/Public-NCSE-Tables (https://www.nacubo.org/Research/2023/Public-NCSE-Tables).
This is for fiscal year 2023, which runs from July 2022 to June 2023.
It shows that VU is #287, with a total endowment market value of $315M. This is down from $326M in FY2022. This is a decline of 3.4. Note that this is not the investment return; this is the net impact of additions to the endowment, withdrawals from the endowment, and investment gain or losses. (For reference, Harvard had the highest endowment value of 49.5B, a 0.1% increase from 2022).
Compared to some of our similarly-sized private peers, VU had a larger decline. Bradley was up 1.6, Belmont up 6.7, Gustavus Adolphus up 4.8, Butler up 5.6, Drake up 8.8. Of course, if they had large contributions to their endowments, that would be reflected in their increases.
This is significant. The S and P 500 index advanced roughly 16% during this period, which means there must have been a net withdrawal of some size to equate to the net result stated.
Here is a recent story about Allegheny College, showing their declining enrollment trends and recent S&P ratings cut for their debt. https://finance.yahoo.com/news/longtime-pennsylvania-liberal-arts-college-204417049.html (https://finance.yahoo.com/news/longtime-pennsylvania-liberal-arts-college-204417049.html)
Allegheny has a good reputation as a small, quality, private liberal arts university located in western Pennsylvania. I have had several colleagues who have kids who graduated from there, and they generally thought it was a good school. Allegheny has 1,353 students, but this is down 37% from 2012. It also has an endowment of $264M (or about $198K per student per the NACUBO report; VU has an endowment per student of $110K per student). The report highlights some of the same enrollment headwinds that have been discussed elsewhere.
My recent posts seem to be negative, instead I am trying to share some facts about the situation facing VU and other, similarly-sized private institutions.
Quote from: valpo95 on February 16, 2024, 08:11:31 AM
Here is a recent story about Allegheny College, showing their declining enrollment trends and recent S&P ratings cut for their debt. https://finance.yahoo.com/news/longtime-pennsylvania-liberal-arts-college-204417049.html (https://finance.yahoo.com/news/longtime-pennsylvania-liberal-arts-college-204417049.html)
Allegheny has a good reputation as a small, quality, private liberal arts university located in western Pennsylvania. I have had several colleagues who have kids who graduated from there, and they generally thought it was a good school. Allegheny has 1,353 students, but this is down 37% from 2012. It also has an endowment of $264M (or about $198K per student per the NACUBO report; VU has an endowment per student of $110K per student). The report highlights some of the same enrollment headwinds that have been discussed elsewhere.
My recent posts seem to be negative, instead I am trying to share some facts about the situation facing VU and other, similarly-sized private institutions.
I took a look at Allegheny College's website. The striking thing here is that they have very few majors that can directly be tied to jobs/careers. Computer science is the exception. For "business", it is really just economics branded as business - no faculty or courses in accounting, marketing, supply chain, finance, etc. Bottom line is that they are a pure liberal arts + sciences college. Allegheny may do this very well, but that is not where the market is. Students and their families value these areas, but if they are going to pay a significant amount for college they expect a clear path to meaningful employment after four years. Thus, Allegheny is different from Valpo as Valpo has a meaningful and accredited College of Business, engineering, health sciences, nursing, etc.
Quote from: vu84v2 on February 16, 2024, 08:51:01 AM
I took a look at Allegheny College's website. The striking thing here is that they have very few majors that can directly be tied to jobs/careers. Computer science is the exception. For "business", it is really just economics branded as business - no faculty or courses in accounting, marketing, supply chain, finance, etc. Bottom line is that they are a pure liberal arts + sciences college. Allegheny may do this very well, but that is not where the market is. Students and their families value these areas, but if they are going to pay a significant amount for college they expect a clear path to meaningful employment after four years. Thus, Allegheny is different from Valpo as Valpo has a meaningful and accredited College of Business, engineering, health sciences, nursing, etc.
84, all good points. Allegheny is not the same as VU, though there are few direct comparisons to VU that map across all dimensions. However, historically VU's largest program has been the College of Arts and Sciences - this is the same "pure liberal arts" focus you mentioned above. The challenge is the market and interest is moving away from those programs, even as the pool of eligible students gets smaller.
One of the continued takeaways for me is how difficult the job is for VU's leadership to navigate all of those factors.
Quote from: valpo95 on February 19, 2024, 08:00:27 AM
One of the continued takeaways for me is how difficult the job is for VU's leadership to navigate all of those factors.
In fairness to VU's leadership, this is hard for most university's leadership to navigate. A company facing a major shift can repurpose or retrain its people, but that is far more rare for universities. Further, because of tenure universities need to retain many faculty regardless of whether their discipline is growing, steady or in decline. Only deep-pocketed universities can fund this sort of inefficiency. Not to mention the resistance by some parts of the organization or the need to partially retain those areas for a robust core curriculum.