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President's Column
Reflections on the Harvest
Although John Keats was
invoking autumn with his
memorable line, “season of
mists and mellow fruitfulness,”
the phrase always
comes to mind as we
celebrate the conclusion
of another academic year
and bid farewell to our“harvest” of graduates. The Class of 2008 took leave
on Sunday, May 18, with the usual fanfare. The soggy
day hardly dampened spirits despite moving the ceremonies
from Shirk Stadium into Bollman Gymnasium.
On Saturday, June 7, we celebrated with the graduates
of our adult Accelerated Degree Program in a
somewhat smaller but no less spirited ceremony in
Memorial Chapel.
I have always enjoyed attending commencement,
but until I presided at my first commencement three
years ago, I had no idea how much pleasure I would
take in officiating at these ceremonies. It is a privileged
moment of grace to greet every graduate by
name, see the joy in their eyes, and hand them their
diplomas. These special moments bring into sharp
focus for me the purpose of all our striving, a rich
harvest of “mellow fruitfulness.”
And just as after every harvest, our activity
then shifts into the mode of review, assessment
and planning.
Last year was a very good year for Albright.
One tangible sign of our success is the beginning of
construction, at long last, on our new Science Center.
We are already well advanced in the necessary infrastructure
projects that must precede the laying of the
new building’s foundation, but by summer’s end the
footprint of the new wing should be evident to all.
It will be noisy and inconvenient, but we will watch
the structure rise from our dreams over the coming
months with pride and satisfaction.
A key part of our planning and assessment is monitoring
how Albright measures up to other independent
colleges and universities. The annual Financial
Analysis and Trends (FAAT) survey of private colleges
and universities conducted by the Association of
Independent Colleges and Universities of Pennsylvania
(AICUP) provides comparative financial data that
allows us to assess trends over time. This year’s report
contained much good news, as it compared Albright’s
key data from 2005 to 2007 to that of 71 other independent
institutions across the state.
In 2007 our enrollment grew slightly and our
total financial resources increased by some $11.6
million—primarily through growth of our endowment.
Although this is cause for celebration, it is also
worth noting that our 2007 total was about half the
median for the 31 other baccalaureate colleges that
responded to the survey. A few other highlights illustrate
our position. In 2007: The market value of our
endowment had grown to $21,600 per student, but
the median for Pennsylvania baccalaureate colleges
was $59,600; Thanks to increased charitable giving,
our dependence on tuition revenue grew only 0.3%
to 64.3%, but the median was 59.3%; Revenue
from grants, contracts, gifts and pledges showed an
impressive increase from 9.3% to 14.2% of our total
revenue. The median, however, was 21.5%.
It is clear from this data that we have made a great
deal of progress in strengthening the College’s financial
position over the past three years. It is also clear
that we have a lot of work to do if we are to continue
advancing our strategic priorities. The continued and
growing generosity of our alumni, parents and friends
is essential to our success.
And while we must plan and consider financial
necessities, it is important to remember that the
ultimate value and meaning of this information is in
how it enables us to provide transformational experiences
for our students during their time at Albright.
As I shook their hands at Commencement, students
revealed their wonder and pride in their accomplishments
in and beyond the classrooms and laboratories,
on the playing fields and courts, in public service
and community involvement. Commencement truly
defines the central privilege of our work—that of
watching our students grow up before our very eyes.
A bountiful harvest indeed!
If you’re in the area, I hope you’ll drop by to
appreciate the beauty of the campus and the promise
of things to come. I invite you to sit in an Adirondack
chair and watch the Science Center take shape!
Thank you for your interest and support.
Lex O. McMillan III, Ph.D.
President |
