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Financial Strength, Growth & Stewardship



MCO 2: Financial Strength, Growth and StewardshipMission Critical Objective 2

Being ‘The Christian Polytechnic University’ now and in the future requires thoughtful business strategies that benefit students and set the institution up for success in the future. The University should focus on initiatives to grow financial health in the areas of Academic Programs, Auxiliary Enterprises, and Capital Management and Fundraising. This includes strategies for financial sustainability and independence to negotiate external threats to Christian higher education in the future.

Goals

  1. Establish the largest comprehensive campaign in the university’s history to mark the university’s 75th anniversary.
    Internal Action Items:
    1. Raise $1m for the LeTourneau Fund annually.
    2. The VP for Development will form a campaign advisory team to assemble potential campaign priorities using the 2021/24 Strategic Plan goals, current and future capital and facility needs, program needs, faculty support, and endowed scholarship needs.
    3. Using the priorities identified by the advisory team and the results of the feasibility test, the Board of Trustees will approve the priorities of the comprehensive campaign at their August 5, 2021 meeting.
  2. Strengthen the University’s financial position by improving to a positive annual net income.
    Internal Action Items:
    1. Overall, without donor restrictions (unrestricted) operations: a balanced budget in year 1; $1.98 million positive in year 2; and $1.3 million positive in year 3.
    2. For traditional: net income of at least $3.0 million.
    3. For nontraditional: net income of an annual amount of at least $1.3M.

Implementation Team

Cabinet Leadership: Mike Hood, Terry Zeitlow
Campus Leadership: Steve Starrett, Kelly Liebengood, Robin Harriss (AD), Laurie Shelton, Tracy Watkins, Kate Day