President’s Annual Report
Welcome to the President’s Annual Report Special Edition of Shipherd’s Record. This issue showcases the highlights of the 2016-17 year. Guided by our Charting the Course to 2020 and Beyond strategic plan, the college has achieved several years of unprecedented success, with 2016-17 the best thus far.
Olivet College is thriving, despite arguably some of the most challenging times for higher education in the modern era. This success is derived from a mission centered on providing students with the opportunity to become more than they dreamed while also helping them to develop the conscience to do good in the world. Our success is due to the dedication of our faculty, staff, and students who work day in and day out to advance our college, as well as the philanthropic contributions of our alumni and friends, who make our growth and advancement possible.
On the pages that follow, you will read some of the many highlights that have helped define the overall success the college is achieving. The inspiring stories of students Abigale Smith ’20, Jalen Ewing ’19, Ana Paula Montes De Oca ’21, Ta’Neeka DeMyers ’20, Rachel Stoneburner ’19 and Mike Sherman ’18 each illustrate how they have taken ahold of opportunities at Olivet College, not only for their individual accomplishments, but to also make a difference on campus and in the greater world.
The past several years have seen robust evolution of the student body with three of the four largest entering classes in college history, and the largest freshman class in fall 2016. We have also doubled the diversity of the student body from a minority student enrollment of 14 percent in fall 2011 to 29 percent in fall 2017. The vibrancy of the campus has also dramatically increased with an all-time record number of students living on campus of 820 (79 percent) in fall 2017.
Financially, the college continues to achieve its goal of being worthy of the investment by its students and its alumni and friends. The total net assets of the college have grown 53 percent from $28.9 million in 2013 to $44.2 million in 2017. The endowment has grown 76 percent from $10 million to $17.6 million since 2013. The college has also demonstrated successive years of positive annual financial performance, finishing each year “in the black” since 2010, with a change in net assets for 2017 of just over $3 million.
While more than 80 percent of the college’s revenues come from enrollment-related sources, it is the philanthropic investment of our alumni and friends that provides the resources for us to invest in the future. I am pleased to report that you, our alumni and friends, have set a record for your support. In the first two years of the Responsible Learners – Responsible Leaders: Olivet College 2020 and Beyond comprehensive campaign, you have given $34,448,614. This represents more than $18.7 million in cash gifts and over $15.6 million in estate gifts, designated for our future. This extraordinary progress has enabled us to raise our total goal for the campaign to $44 million.
I’d like to express my sincerest gratitude to every individual and organization listed in our honor roll of donors. Each donor is unique, each gift is special, and all are making a difference. Thank you to Craig ’08 and Ananda Jenkins and Jim and Jan Wilds for sharing your donor stories with us. Traci and I are proud to stand alongside the Jenkinses, Wildses, and the many others who have made Olivet College one of their philanthropic priorities.
And last but not least, I want to extend my best wishes to our friend and fellow Olivetian Marty (Mason) Jennings ’67 as she embarks on a new adventure. We are not losing her, she is just moving on to a new phase in her continued relationship with Olivet College. Having defined alumni engagement for 15 years, she will now enjoy planning and attending gatherings as a guest and our number one volunteer. Marty, best wishes and many thanks for your commitment to Olivet College.
With very best regards to all,
Steven M. Corey, Ph.D.