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Bearing Fruit—Even Tomatoes: MHC's Strategic Plan Yields Success

Civilization Begins with a Rose—and a Plan

Botanic Garden as Metaphor

Leadership and the Liberal Arts: The Weissman Center for Leadership

Speaking Up for Speaking, Arguing, and Writing

January Term Internships: From Monkeys to Marketing

Maps, Memories, and More with the Click of a Mouse

Sharing Meals and More in the Kosher/Halal Dining Room

Putting Tomatoes on the (Genetic) Map

Mount Holyoke Enjoys Banner Years for Applications

High-Tech Room Lets Musicians Play in Virtually Any Venue

Tallying Up the Success of the Plan

Indika Senanayake '03: Transformation Through Performance

A Work of Art on Many Levels: Mount Holyoke, the Mountain

"Greening" Mount Holyoke's Curriculum

Geologist Elizabeth "Betty" Wilson '72 Brings Energy to J-Term

Hannah Kolak '03: Her Worlds Collided

Getting Concrete about Environmental Stewardship

Everything on Track with Langhan Dee '04

Athletics Scoreboard

On the Mount Holyoke Campaign Trail

Five College Center Brings People Together Through Language

Reaping the Rewards of The Plan for Mount Holyoke 2003

Mount Holyoke College News and Events College Street Journal Vista


Plan goal: Achieve financial equilibrium by 2003
through a variety of specific steps

Although the United States is facing difficult economic times at present, the great success of The Plan for Mount Holyoke 2003 in the arena of financial health has resulted in confidence that the College is on firm financial footing and can weather this cyclical downturn in the country's economy. Mount Holyoke's 2002-2003 budget met the financial goals of the Plan and reached financial equilibrium, which was defined in the Plan as a balanced budget; increases in reserves for facilities and equipment of $1.5 million a year; no use of unrestricted bequests for operations; and endowment spending of 5 percent of the average market value, an appropriate level for the College's long-term financial health. "This was indeed cause for celebration," notes Mary Jo Maydew, vice president for finance and administration.

When the Plan was implemented in 1997, the College faced ongoing financial challenges that threatened its well-being. Skyrocketing financial aid was cutting deep into Mount Holyoke's coffers. The resultant rates of annual expenditures from the endowment were above prudent levels and threatened the College's long-term viability. Early belt-tightening measures, the gradual reduction in the average percentage of financial aid awarded, and adoption of need-sensitive admission for a small percentage of applicants helped to stabilize the College's financial condition.

By the midpoint of the Plan, the College was moving toward financial equilibrium at rates faster than projected. "Meeting the goal of financial equilibrium just six years after the Plan was adopted was a major achievement," says Maydew. "Although there are certainly financial challenges ahead, the College is in a much stronger position to weather these challenges. The directions set by the Plan and the institutional focus it accomplished have been critical to our ability to improve Mount Holyoke's financial situation so significantly."

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Copyright © 2003 Mount Holyoke College. This page created by Don St. John and maintained by Office of Communications. Last modified on August 5, 2003.

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