President's Report 2013

2013 PRESIDENT’S REPORT

BELMONT UNIVERSITY

Charting the Course FROM HERE TO ANYWHERE

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FROM THE PRESIDENT

As president of this University, I may be biased in saying Belmont is one of the most amazing stories in higher education today, but I believe it to be true. In the last dozen years, enrollment has more than doubled as we’ve focused on traditional, residential education rather than expanding via online or distance learning. In addition, Belmont has spent nearly $328 million on campus construction since 2000 to create the best possible living/learning environment for our students. Frankly, it’s an even more special story in today’s higher education field as many institutions are struggling to find students and support.

Making the Belmont story more fascinating is that all of this growth has been accomplished while our students, faculty and curriculum continue to win accolades for quality and innovation. In the pages that follow, you’ll have a chance to read more about the people, places and programs that were part of Belmont’s story for 2013.

If those pages reflect the who, where and what chapters in Belmont’s narrative, it’s the why that I believe serves as the central theme. I hope you’ll pay special attention to the last two sections of this report because it’s our mission (“Keeping the Past Present”) and vision (“Looking Over the Horizon”) that truly sets Belmont apart. From our foundational purpose to the plans we’re starting to dream for 2020, Belmont University is clearly charting a course “From Here to Anywhere.”

Best regards,

Dr. Bob Fisher, President

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TABLE OF CONTENTS 02 05 11 17 23 29 30

Table of Contents WHO We Are WHERE We Are WHAT We Are WHY We Are Vision 2020 Financial Charts

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BELMONT

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Setting Tomorrow’s Records Today WHO WE ARE

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RECORD BREAKERS

FOR THE PAST 13 CONSECUTIVE FALL SEMESTERS, BELMONT University could claim an ever-increasing, record-breaking fact: an enrollment number higher than the University ever experienced before. While Belmont’s “Vision 2015” planning document clearly stated an expectation for an enrollment of 7,000, no one imagined how close to the mark the University would come a full two years ahead of schedule. But that’s exactly what happened in August when the head count topped out at 6,918 students.

Enrollment isn’t the only area where Belmont exceeds expectations. Incoming students are brighter than ever as well, with average freshmen ACT scores of 26.4, and they enter college with countless talents and skills they want to develop.

The education they’re receiving at Belmont pays off. The University’s current overall first destination (career outcomes) rate is 87 percent, a number that continues to exceed the national average. The rate reflects the percentage of graduates who have secured professional, full-time employment, enrolled in graduate school or enlisted in military service within six months of graduation.

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SCHOLARS

But mere numbers alone can’t encapsulate Belmont’s population explosion. It’s a trend perhaps best presented in images, photos of Greek Week participants overtaking the Curb Event Center for a skit competition or pictures of more than 800 students packed into Nashville’s Schermerhorn Symphony Center to perform the nationally televised “Christmas at Belmont” program.

A priority for the University in the midst of such unprecedented expansion is to increase diversity and more broadly reflect local and global communities.

As part of those efforts, “Bridges to Belmont” launched in March 2013 as a program designed to enroll high potential students from Metro Nashville Public Schools, most of whom are first generation college students who may not have considered Belmont an academically or financially viable option. In addition to full scholarships, the 26 charter Bridge scholars attended an intensive summer institute to help prepare them for their first semester.

In December, Belmont announced it would expand the program to another 30 students for fall 2014.

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CREATORS

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EXPLORERS

Expanding enrollments and increasing diversity also mean Belmont must provide more co-curricular opportunities for students to gain strong intercultural competency. One example of that in the past year came from programs based on the campus theme, “Through the Eyes of Others,” encouraging students to encounter and explore otherness culturally, religiously, socio-economically and ethnically. The Fall Humanities Symposium brought that theme to life

with an array of events, including two writing workshops, an art exhibit by staff member and Thailand native Tam Mai, numerous lectures and a day of community service projects.

Of course, there’s also plenty of fun to be had with new campus life organizations to meet students’ varied interests. This year brought the advent of a Swim Club and a competitive Equestrian Team, among others.

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Breaking Ground, Building Futures WHERE WE ARE

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CONSTRUCTION

AS THE COMPOSITION OF THE STUDENT BODY EVOLVES AND enrollment increases, Belmont navigated four construction projects in 2013 to improve campus facilities to match its growing academic rigor and student enthusiasm.

With the last beam in place and interior work underway, a 139,000-squarefoot residence hall for 422 upperclassmen will be the first residential facility on Belmont’s campus to house students in a mix of apartment-style and suite-style rooms. The yet-to-be-named residence hall sits across the street from the site where University officials broke ground for the academic and dining services complex, a four-story, 116,000-square-foot building providing seating capacity that is 2.5 times larger than the current campus cafeteria as well as space for the music business, motion pictures and media studies programs.

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GROWTH

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HOME

A block away, construction continued on the 188,000-square-foot Wedgewood Academic Center to house the College of Liberal Arts and Social Sciences, College of Sciences and Mathematics and School of Religion.

Every undergraduate will take classes in the center, which will be the largest building on campus, and will house a 280-seat chapel, a dining venue, 30 classrooms that vary in seating capacity, state-of the-art laboratories and conference room space. As part of a continuing effort to address the demand for on-campus parking, these construction projects also bring a combined 1,804 parking spaces to the urban campus.

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With these changes to the University’s landscape, Belmont’s 28,000 graduates have found a new place to call home with one of the oldest structures on campus being renovated into the all-new Foutch Alumni House, which opened in December. The return of former Bruins to the small home near the iconic Bell Tower is as symbolic as it is physical. Since the building’s construction as Ward-Belmont’s Clubhouse No. 10 during the early 20th century, the facility has touched every generation serving as a faculty meeting space, theater, employee housing, the Communications Arts department and, most recently, the Plant Operations facility.

ENVIRONMENT

As it has with other recent projects, Belmont continues to emphasize environmental sustainability with this construction. The new residence hall’s footprint was designed to save two large existing oak trees on the site, providing natural beauty and shade to the building and the courtyard. Also, the University is seeking Platinum-level LEED Certification for the Wedgewood Academic Center with the facility having a green roof adjacent to biology lab space, garage recycling room and

trash compactor, motion-sensor lighting in all offices, classrooms and labs and a variable flow refrigerant HVAC system.

All of these efforts serve the bigger purpose of providing students the atmosphere and facilities they need to receive the best education possible.

More than just buildings, these structures are intended to give an engaged student body a college home that empowers their physical, mental, spiritual and academic growth.

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Taking Center Stage WHAT WE ARE

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EXCELLENCE

WHILE ENROLLMENT NUMBERS AND NEW CAMPUS BUILDINGS ARE clearly on the rise, Belmont retains its pinpoint focus on educational excellence.

In fact, for the third year in a row, Belmont University remained at No. 7 on U.S. News & World Report’s annual rankings of America’s Best Colleges, and for the sixth consecutive year, Belmont was among The Princeton Review’s best colleges in the Southeast.

Success extends beyond the broad strokes and into individual departments.

Academic programs and extracurricular offerings are keeping pace and forming the backbone of the University experience. From law and health sciences to business and athletics, Belmont is taking center stage in a variety of fields and venues. For example, the musical theatre program drew national attention when it became the first American university to stage a performance of Tony Award-winning musical Les Miserables, and numerous incoming freshmen inquired about Belmont’s brand new major in motion pictures.

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INNOVATION

Also garnering headlines in 2013 was Professor Jeff Cornwall, who the United States Association of Small Business and Entrepreneurship named as the Entrepreneurship Educator of the year. Forbes magazine also named his blog, “The Entrepreneurial Mind,” as one of the 100 Best Websites for Entrepreneurs. Cornwall’s protégés are seeing the work invested in his classes come to fruition. In the fall the second annual Entrepreneurship Village on campus showcased the innovation and creativity of 33 student- and alumni-

owned businesses in idea, early startup and revenue-generating phases.

Meanwhile on the court, the men’s basketball team made plenty of highlight reels with its 70-68 overtime defeat of Murray State for the 2013 OVC Championship.

The victory marked the 1,000th win for the Belmont program, and the Bruins appeared in the NCAA Tournament for the sixth time in eight years. In the fall the Bruins stunned then-No. 11 North Carolina 83-80 in a game at Chapel Hill.

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CHAMPIONS

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NOTEWORTHY

Graduate programs are making an impact as well. Last summer the American Bar Association (ABA) informed Belmont’s two-year-old College of Law it had been granted provisional accreditation, making it the first law school in Nashville to be accredited by the ABA since 1925. The milestone was achieved in the earliest possible timeline allowed by accreditation guidelines.

Nearby in the Inman Health Sciences Center, the School of Nursing expanded its degree program for the Doctor of Nursing Practice (DNP) and celebrated a $300,000 Memorial Foundation grant, which allows the University to upgrade high-fidelity simulation equipment, support interprofessional training and fund a post-graduate Healthcare Simulation Fellowship.

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Keeping Our Past Present WHY WE ARE

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FAITH

IT’S IMPORTANT TO CELEBRATE PRESENT ACCOMPLISHMENTS and look ahead to the future, but remembering an institution’s foundational roots is equally—if not more—vital. In a 1999 email to campus, former president and then-Chancellor Dr. Herbert Gabhart reflected on his 40 years of service to Belmont University and offered these thoughts: “The University is on the shores of the unknown future, of an ocean of unseen miracles. With vision, courage and faith, the impossible can become possible.” While Belmont has since experienced significant “unseen miracles” in enrollment, campus structures and academic programs, one constant remains: unwavering dedication to a mission forged by fire and tested by time.

As “a student-centered Christian community providing an academically challenging education,” students are immediately welcomed into an environment that allows them to delve deeper into faith, or perhaps explore it for the first time, through guest lectures, worship services, missions and social justice endeavors. Creating strong communities also drives the University’s focus on adding residential space; nearly half of the student body now resides in on-campus housing, allowing for numerous living/learning connections.

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COMMUNITY

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ENGAGEMENT

Students are also strongly encouraged “to engage and transform the world” both in far-flung regions and right here in Nashville. Study abroad programs offer extended visits to places all around the globe, including Cambodia, Guatemala, London, China, Italy, South Africa and more. While overseas, students participate in intensive studies of wideranging topics, meeting a variety of interests and providing opportunities for engagement with different cultures regardless of a student’s specific major.

Meanwhile, an emphasis on community service is ingrained in every part of campus. From Welcome Week’s new student SERVE project to classsponsored service-learning events to the spring Family Literacy Day to international missions, Belmont students are provided countless opportunities to discover and aid communities near and far.

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SPIRIT

Of course, providing a well-rounded education is central to Belmont’s existence, and the University commits to help each and every student develop to his or her full potential through challenging academics. From courses analyzing modern technology like Google Glass or incorporating horses to inspire students to think beyond preconceived notions, faculty pursue innovative means of teaching. Scholarship and academic achievements are celebrated through annual research symposiums and awards ceremonies that honor student and faculty accomplishments, while

Belmont students’ uber-creative talents are on display all year long in numerous performances and exhibits.

Through it all, the spirit that makes Belmont “Belmont” is alive and well.

The unprecedented growth has served to further enhance the overall quality of the University, bringing about the “ocean of unseen miracles” Dr. Gabhart forecast. All the while, the commitment to provide a transformative and student-centered education remains the University’s central focus, ensuring Belmont graduates truly can go “From Here to Anywhere.”

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Looking Over the Horizon FROM HERE TO ANYWHERE

VISION 2020 Reporting on 2013 can’t be complete without a preview of what’s to come.

LAST FALL BELMONT INITIATED A plan for strategic thinking for Vision 2020, a document that will guide the University for the next six years. Intended to be a transparent, thorough and inclusive process, students, faculty, staff and alumni were invited to gather in small groups in October to discuss what makes them proud about Belmont now, what they’d like to see in a future Belmont and what Belmont can do to more fully live out its mission, vision and values.

These themes were discussed at a January 2014 meeting between the Board of Trustees and faculty, staff, student and alumni representatives. Throughout the spring semester, additional sessions will be held to further clarify and articulate these themes and to begin building the framework of Belmont’s Vision 2020 document.

Given Belmont’s historic rise over the past decade, it’s difficult to fathom what the future has in store. The sky certainly does seem to be the limit! Clearly, however, Belmont’s investments to date in its people, in this campus, in programs and in its mission are all making the view over the horizon incredibly exciting.

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More than 1,000 individuals participated in input sessions, displaying tremendous thoughtfulness, consideration and passion. Extensive data was collected, compiled and analyzed, and 10 key themes emerged that will provide significant foundations for Vision 2020:

01

More Student-Centered/ Focused

02

Higher Level of Excellence in Teaching/Quality Academic Programs

03 04 05

Strong Christian Character

06

Strong Reputation for Belmont

07 08

Utilize Technology More Fully

09

People Development/ Pay and Benefits

10

Important Work/ Servant Leadership

Enhanced Diversity More Collaboration, Communication, Community, Mutual Respect/Positive Work Environment

More Resources/ Growth Momentum

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$220,000,000

Statement of Financial Position May 31, 2013

Assets Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51,119,945 Investments . . . . . . . . . . . . . . . . . . . . . . . . . 110,526,019 Receivable from Others. . . . . . . . . . . . . . . . . . 17,254,795 Property, Buildings and Equipment, net. . . . . 373,261,625 Other Assets. . . . . . . . . . . . . . . . . . . . . . . . . . . 2,454,942

Total Assets. . . . . . . . . . . . . . . . . . $554,617,326

$176,000,000 $132,000,000 $88,000,000 $44,000,000 0 02-03 03-04 04-05 05-06 06-07 07-08 08-09 09-10 10-11 11-12 12-13 13-14

Liabilities Accounts Payable and Accrued Liabilities. . . . . 9,623,246 Notes Payable. . . . . . . . . . . . . . . . . . . . . . . . 136,835,474 Other Liabilities. . . . . . . . . . . . . . . . . . . . . . . . . 8,778,130

Total Liabilities . . . . . . . . . . . . . . . $155,236,850

Net Assets Unrestricted . . . . . . . . . . . . . . . . . . . . . . . . . 300,768,893 Temporarily Restricted. . . . . . . . . . . . . . . . . . . 37,867,688 Permanently Restricted. . . . . . . . . . . . . . . . . . 60,743,895

Total Net Assets. . . . . . . . . . . . . . . $399,380,476

Total Liabilities and Net Assets. . . . $554,617,326

Budget Growth

$600,000,000

Asset Growth

$480,000,000 $360,000,000 $240,000,000 $120,000,000 0 02-03 03-04 04-05 05-06 06-07 07-08 08-09 09-10 10-11 11-12 12-13

Statement of Activities — All Funds Year Ended May 31, 2013

Revenue and Other Support Tuition and Fees. . . . . . . . . . . . . . . . . . . . . . 171,834,372 Less: Scholarships and Fellowships. . . . . . . . (29,783,551)

Net Tuition . . . . . . . . . . . . . . . . . . $142,050,821 Gifts, Grants and Contracts. . . . . . . . . . . . . . . . 4,140,520 Endowment Spending. . . . . . . . . . . . . . . . . . . . 1,746,514 Auxiliary Enterprises Sales and Services . . . . . 26,582,498 Other Sources. . . . . . . . . . . . . . . . . . . . . . . . . . 5,393,301

Total Revenue and Other Support. . . $179,913,654

$400,000,000

Net Asset Growth

$320,000,000 $240,000,000 $160,000,000 $80,000,000 0

Expenses Instruction . . . . . . . . . . . . . . . . . . . . . . . . . . . 58,551,652 Academic Support . . . . . . . . . . . . . . . . . . . . . 16,599,515 Student Services. . . . . . . . . . . . . . . . . . . . . . . 24,070,125 Institutional Support . . . . . . . . . . . . . . . . . . . . 16,048,765 Auxiliary Enterprises. . . . . . . . . . . . . . . . . . . . 16,727,813

Total Expenses. . . . . . . . . . . . . . . . $131,997,870

Non-operating Activities Gifts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,251,748 Increase in market value of investments . . . . . 11,939,510 Change in value of interest rate swaps. . . . . . . . 1,213,376

Net Decrease from

Non-operating Activities. . . . . . . . . . . . . . 20,404,634

Net Increase in Net Assets . . . . . . . . $68,320,418 Net Assets at Beginning of Year. . . . . . . . . . $331,060,058

Net Assets at End of Year. . . . . . . . $399,380,476

02-03 03-04 04-05 05-06 06-07 07-08 08-09 09-10 10-11 11-12 12-13

$200,000,000

Tuition Revenue

$160,000,000 $120,000,000 $80,000,000 $40,000,000 0 02-03 03-04 04-05 05-06 06-07 07-08 08-09 09-10 10-11 11-12 12-13

$330,000,000

Investment in Construction

$264,000,000 $198,000,000 Belmont University is a Christian community. The university faculty, administration and staff uphold Jesus as the Christ and as the measure for all things. As a community seeking to uphold Christian standards of morality, ethics and conduct, Belmont University holds high expectations of each person who chooses to join the community. Belmont University does not discriminate on the basis of race, sex, color, national or ethnic origin, age, disability, military service or sexual orientation in its administration of education policies, programs or activities; its admissions policies; or employment. Under the law, the university may discriminate on the basis of religion in employment in order to fulfill its mission. The university has appointed the Director of the Office of Human Resources and the Associate Dean of Students to serve as coordinators of compliance with these policies.

$132,000,000 $66,000,000 0 02-03 03-04 04-05 05-06 06-07 07-08 08-09 09-10 10-11 11-12 12-13 BELMONT UNIVERSITY • 32

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1900 BELMONT BLVD. • NASHVILLE, TN 37212 • WWW.BELMONT.EDU

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