Year in Review 2012-2013

Johnson ended the year in a strong position to invest in our strategic initiatives. Revenues grew by 7.9 percent in 2012-2013, due to excellent giving results, higher enrollment in the Cornell-Queen’s Executive MBA program, and increased non-degree executive education offerings.

While growth in expenditures, at 10.4 percent, outpaced revenues, a significant portion of this increase was due to funding our physical plant maintenance and future technology needs. We continued to make investments in faculty last year and we increased scholarships in the Two-Year MBA, Accelerated MBA, and both Executive MBA programs. In advance of 2013-14, the school is making strategic investments to grow its executive education non-degree business at a more aggressive pace, provide more career management resources to residential and executive MBA students, and launch the One-Year MBA at Cornell NYC Tech. The school will continue to make additional investments in its faculty in 2013-2014 and the years ahead.

Fundraising results were the highest ever for Johnson in a single year, except for spike years in 2006 and 2012. New gifts and commitments amounted to $18.3 million. We received seven gifts of $1 million or more, none of which were over $2.5 million. This is the highest number of $1 million gifts Johnson has received in one year.

The Johnson Annual Fund also finished with record-breaking results. We raised more than $3.1 million dollars in unrestricted support and also increased the number of donors to 3,122, more than any other Cornell college or unit. This year’s fundraising results added $4.45 million in new cash and commitments for scholarships, and $7,783,940 for professorships, research, and program enhancement. The market value of our endowment increased to $175.6 million.

In the Cornell NOW campaign, we have raised $140 million toward an ambitious campaign goal of $168 million by 2015.

As always, we are thankful for the financial support received from students, alumni, friends, corporations, and foundations. We are especially grateful to our alumni volunteers and development colleagues across the university who helped Johnson exceed this year’s overall campaign goal.

Financial Review 2012-2013