2017 Financial Report c Components of Revenue 2016-2017
Net Tuition & Fees 62.6%
Sales & Services of Educ. Depts. 0.6% Shared Services 1.6% Other Sources 2.0% Contributions 7.8% (including endowment) Government Grants & Contracts 2.6% Return – Operations 1.2%
Auxiliary Enterprises 9.8% Return – Endowment Available Return – for Spending 4.1% Endowment Reinvested 7.7%
Components of Expenditures 2016-2017 v
Instruction 48.8%
Research 0.5% Public Service 4.0%
Auxiliary Enterprises 11.2%
Academic Support 6.5%
Hofstra University relies on the generosity and philanthropic support of alumni and friends. This investment in the University is critical to Hofstra’s long-term success. Here’s why: v Alumni support is measured by U.S. News & World Report and has a direct impact on the University’s ranking. Participation is critical. Our goal is to increase alumni participation each year. v Hofstra remains a university largely reliant on tuition. Your support and the growth of our endowment allow Hofstra to undertake new initiatives to maintain its excellent reputation. v Your gift provides for student scholarships, faculty support, and program initiatives, and overall operations at Hofstra. v Your investment in Hofstra will allow the University to reach its annual and long-term goals.
We need your help — every gift makes a difference!
Student Services 14.3% Technology & Telecommunications 3.6% Public Safety 2.7% Public Relations 2.3% Development 1.4% Finance & Audit 1.9%
Other Institutional Support 0.2% Executive Office 0.9% Legal & Human Resources 0.4% Insurance 1.3%
Total Institutional Support 14.7%
Scholarships 55.0%
c Endowment Market Value August 31, 2017
Facilities 22.6%
Other 6.6% Medical School Support* 1.6% Centers & Lectures 3.1% Endowed Professorships 3.1% Law School Support* 3.6% Endowed Chairs 4.4% *Excludes endowments specifically designated for scholarships, chairs, and professorships.
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2017 Financial Report Hofstra’s financial strength reflects increased fundraising activities, strong endowment growth, strengthened operating margins, and enhanced control over expenses, particularly relating to health care and post-retirement benefits. Financial resources have increased by 151 percent during the last 10 years, and Hofstra continues to enjoy debt ratings in the A category from both Moody’s and Standard & Poors.
Growth of Endowment in Support of Scholarships
Tuition Scholarships and Fellowships
ofstra University endowment investments grew H to $553 million by 2017, increasing by 450 percent in the last 15 years. The University’s fundraising goals are aimed at providing enhanced scholarship funding to better compete with institutions with significantly larger endowments.
The University continues to make the growth of tuition scholarships a top priority. During the past 10 years, the University has increased scholarship funding by 186 percent to approximately $139 million. The increase in scholarships is reflected in the changing makeup of the student body:
Millions of Dollars
Fall 2000
Fall 2017
1061
1222
Average high school GPA (first-time, first-year)
2.8
3.6
Top 10% high school class (first-time, first-year)
12%
28%
Selectivity (acceptance rate as percentage of all applicants)
80%
64%
First-year students from outside NYS
32%
50%
600 550
Average SAT score* (first-year students)
Endowment Investment Market Value
500 450 400 350 300 250 200 150
*Critical Reading and Math
100 50 0
1935
1974
1984
1994
2004
2017
STUDENT TESTIMONIALS
As a recipient of a music scholarship at Hofstra, I was provided with the opportunity to pursue and grow in both of my passions – singing and performing as well as business and finance. I discovered my passions and skill sets, and Hofstra did all it could to financially make it possible for me to attend. — Nevin Shah
Having a scholarship gave me the opportunity to be here at this school that I love, and also gave me the opportunity to not stress out about money.” — Gabriella Muñoz
BA, Computer Science ‘15 MBA, Business Analytics ‘18
BBA, Finance ‘18 Hofstra
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2017 Financial Report
A CAPITAL EFFORT Hofstra University has raised $232 million as part of a capital campaign that led to the naming of five schools and generated significant scholarship funding, President Stuart Rabinowitz and Hofstra Board of Trustees Chair Alan J. Bernon announced in April. Begun in 2011, the campaign included the naming of the Maurice A. Deane School of Law; the Lawrence Herbert School of Communication; the Peter S. Kalikow School of Government, Public Policy and International Affairs; the Fred DeMatteis School of Engineering and Applied Science; and the Donald and Barbara Zucker School of Medicine at Hofstra/Northwell. Alan Bernon, who was chair of the capital campaign, set the pace with one of the earliest gifts: $5 million to enhance scholarship support for the University, including matching donations to selected initiatives. The campaign has produced substantial funding for student scholarships, a vital resource to keep college affordable, and to attract and retain the most talented young scholars in the nation. In addition, the campaign supported continued investments in the enhancement of Hofstra’s facilities, technology, and academic programs. “The success of this effort is a testament to the remarkable generosity of our donors, and their support for Hofstra’s mission,” President Rabinowitz said. “In particular, Alan Bernon – as chair of the Board of Trustees and of this campaign – set an extraordinary example with his unrivaled energy and commitment to ensuring Hofstra students have the very best educational opportunities.” Bernon, an alumnus of the Class of 1976, was honored for his dedication to the University at the 2017 Hofstra Gala. “It’s a privilege to continue to be part of this University as it has grown into a school of international reach and reputation,” Bernon said. “I want to thank everyone who supported this campaign for investing in the future of Hofstra and our students.”
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“ It’s a privilege to continue to be part of this University as it has grown into a school of international reach and reputation. “ I want to thank everyone who supported this campaign for investing in the future of Hofstra and our students.” — Alan J. Bernon Board of Trustees Chair