Office of the Secretary > Strategic Plan > Grounded in Mission > Ensure fiscal strength for future generations
A SUSTAINABLE FINANCIAL FOUNDATION IS NECESSARY FOR DEPAUL’S REALIZATION OF ITS MISSION AND EDUCATIONAL ASPIRATIONS. As a highly tuition-dependent institution, the university must achieve enrollment and tuition revenue goals in a competitive environment where affordability and value for students are paramount. It also requires a sharpened focus on the profitability of our portfolio of programs and the prioritization of our purposes. We will work diligently to reduce costs, improve efficiencies, remain an employer of choice, reallocate resources in light of strategic priorities, and reduce tuition dependence by building our endowment and increasing philanthropic support.
6.1 Achieve sustainable annual operating margins of at least 4 percent through a balanced long-term plan for revenue growth and cost containment
A. Develop long-term financial plans for the academic and auxiliary enterprises.B. Review subsidies to nonacademic units.C. Implement cost management strategies, including consolidation of administrative and academic functions and structures while continuing to invest in academic, instructional, and student support.D. Invest in technology that improves efficiency, integration, and scalability of services and operations.E. Realize course scheduling efficiencies by using improved course scheduling analytics.F. Develop new sources of auxiliary income.
6.2 Increase revenue from philanthropy in terms of funds raised and participation levels of key constituencies
A. Launch a comprehensive campaign, aligned with the vision and goals of the strategic plan.B. Increase the percentage and amount of alumni giving.C. Increase grant revenue and sponsorships from private foundations and corporations.D. Increase collaborations between faculty and development, leveraging faculty innovation in research and curriculum.
6.3 Grow the endowment to a market value that is consistent with the university’s size and credit rating ($1 billion by the end of fiscal 2024)
A. Contribute a minimum of $25 million in gifts on average annually to the endowment pool.B. Employ investment strategies that produce sufficient endowment returns to meet the university’s distribution objective and provide for real growth in the market value of the endowment.C. Contribute a portion of any annual operating surplus to the endowment.D. Continue the university’s return-to-principal practice related to the DePaul General Endowment Fund.
6.4 Develop formal and transparent processes for ongoing prioritization of academic programs and identify opportunities for investment, strategic alignments, consolidations, and/or closures
A. Deploy a program proposal software system to coordinate new program development across the university.B. Incorporate a budget-aware prioritization step in the process for proposing and approving new academic programs and tie resources to program enrollment benchmarks.C. Improve checks and balances on the redundancy of course offerings, especially in courses meeting Liberal Studies requirements.D. Develop and launch an academic program prioritization process during the 2018-19 academic year.
6.5 Achieve a sustainable and optimal undergraduate enrollment that meets net tuition revenue goals while balancing mission and quality outcomes
A. Define the optimal size, enrollment mix, and net revenue goals for undergraduate academic programs in light of market trends, financial goals, and academic and mission priorities.B. Build the marketing, recruitment, and enrollment support required to increase applicant demand and yield from new freshmen and transfers sufficient to achieve enrollment goals, improve selectivity, and increase net revenue.C. Increase market share and transfer enrollment through expanded marketing, recruitment, partnerships, and services that streamline the transfer process.D. Increase out-of-state freshman enrollment through dedicated regional recruitment staff and outreach programs.E. Increase international undergraduate enrollment through external partnerships.
6.6 Increase DePaul’s market share and competitiveness in graduate and professional programs
A. Create new graduate-level programs that contribute additive net tuition revenue.
B. Expand corporate partnerships for programs responding to employers’ workforce development needs.
C. Increase international graduate enrollment through external partnerships and improved coordination and integration of recruitment efforts.
D. Expand marketing efforts to generate greater awareness of graduate programs and sufficient applicant demand to achieve enrollment growth and improve market share.
E. Determine and implement optimal, differentiated, and competitive pricing of graduate degree programs.
F. Centralize support for the development, marketing, and delivery of continuing and professional education.