advancement report 2008-09

Financial Stewardship

Remarkable advances in financial stewardship achieved in the past few years helped sustain the college’s momentum during fiscal 2008–2009. This site presents a summary of Macalester’s financial position during fiscal 2008–2009 and a five-year summary of key financial markers.

Operating Budget more »

Macalester operated for a 35th consecutive year with a balanced budget, while providing a first-year financial aid package averaging $29,499 per student. Sixty-four percent of entering students received aid, meeting 100 percent of students’ demonstrated financial need, in keeping with the college’s historic commitment to accessibility. The college continued to generate administrative cost efficiencies and maintain one of the lowest administrative staff-to-student ratios among its peers. Careful budgeting and endowment management over the past several years have allowed the college to navigate the recent financial challenges without noticeable disruption to campus operations.

Endowment more »

The Macalester endowment outperformed its benchmarks in the year that ended June 30, 2009. Over the full year, the portfolio returned -13.4 percent, compared with a benchmark of -16.8 percent. Most losses occurred in late 2008; some recovery began to be realized in 2009. “The endowment has been carefully diversified over the past six years,” notes Macalester chief investment officer Craig Aase ’70. “Our portfolio has benefited from allocations designed to perform well during market corrections.”

Advancement

Gifts to Macalester totaled $14.7 million during 2008–2009, a period of widespread economic difficulty. The total falls short of records set each of the past three years, but sustains much of the growth achieved over the past five years. An unprecedented 10,940 donors contributed a near record $3.14 million to the Annual Fund. The college’s Step Forward campaign was publicly launched during the year, with gifts and commitments exceeding two-thirds of its $150 million goal.

Donors contributed
14.7 million

Annual Fund Raised
3.4 million (narrowly missing a record total last year)

35th consecutive year with a balanced budget