The Consortium for Graduate Study in Management
Fiscal Year 2006 Annual Report
Annual Report Contents 3
About The Consortium
4
The Consortium Member Schools
5
OP Highlights
6
Recognitions
7
Class of 2008 Student Profile
8
Financial Review
12
Corporate and Strategic Partners
13
2006 Orientation Program Underwriters
14
Donor Leadership Circle
2
About The Consortium Our Mission The mission of the Consortium for Graduate Study in Management, an alliance of leading American business schools and some of our country’s top corporations, is to enhance diversity in business education and leadership by helping to reduce the serious underrepresentation of African Americans, Hispanic Americans and Native Americans in both our member schools’ enrollments and the ranks of management. We will achieve this mission by recruiting for graduate business education qualified U.S. citizens and U.S. permanent residents from these underrepresented groups, as well as other persons who can demonstrate a commitment to the Consortium’s mission and can best assist the Consortium in pursuing this mission.
Our Vision The vision of The Consortium is to work toward the day when African Americans, Hispanic Americans and Native Americans are no longer underrepresented in management careers in the business community of the United States.
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The Consortium Member Schools Carnegie Mellon University Tepper School of Business Member since 2001
The University of Texas at Austin McCombs School of Business Member since 1984
Dartmouth College Tuck School of Business Member since 1999
University of Virginia Darden School of Business Member since 1992
Emory University Goizueta Business School Member since 2001
Washington University in St. Louis Olin Business School Member since 1966
Indiana University – Bloomington Kelley School of Business Member since 1966
University of Wisconsin - Madison Wisconsin School of Business Member since 1966
University of Michigan – Ann Arbor Stephen M. Ross School of Business Member since 1983 New York University Leonard N. Stern School of Business Member since 1984 University of North Carolina at Chapel Hill Kenan-Flagler Business School Member since 1973 University of Rochester Simon Graduate School of Business Member since 1968 University of Southern California Marshall School of Business Member since 1968
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OP Highlights The Consortium: Gateway to Inclusion served as the theme for the 40th Annual Orientation Program & Career Forum held June 2 - 6 in St. Louis, Missouri. Several events marked The Consortium’s four decades including a birthday celebration held on the Washington University in St. Louis campus, an alumni breakfast and a community outreach activity. Alumni and second-year students found their way around St. Louis during an Amazing Race Competition, then headed to the new Busch Stadium to watch the St. Louis Cardinals take on their rivals - the Chicago Cubs. Incoming students enjoyed a performance of Dreamgirls at the award-winning Black Repertory Theatre of St. Louis. The games continued as students and alumni participated in a “Price is Right” challenge. Emerson served as the event’s lead sponsor. The company’s CEO, David Farr gave the keynote presentation during the Gala Dinner.
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Recognitions The Consortium recognized the following individuals at the 2006 Annual Orientation Program and Career Forum: Sterling H. Schoen Achievement Award Wallace L. Jones, former Consortium President & CEO (deceased) Peter C. Thorp Corporate Leadership Award S. Edward Torres, Principal, Lilly Ventures (University of Michigan - Ann Arbor ‘89) Wallace L. Jones Alumni Lifetime Achievement Award Carol D. Reckling, Executive Director - Child First Authority (Washington University in St. Louis ‘75) Wallace L. Jones Fellowship Award April Taylor (Indiana University - Bloomington ‘08) NSHMBA/Consortium Award Monica French (New York University ‘08)
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Class of 2008 Student Profile 232 Enrolled Students Age Range 24-31
African American 56%
Average Age 27
Hispanic American 36%
Male 57%
Asian American 2%
Female 43%
Native American or Alaskan Native 4%
GPA Average - 3.85 80% Range - 2.8 - 3.75 GMAT Score Average - 632 80% Range - 570 - 710
Caucasian 1% Other 1%
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Financial Review
8
Financial Review STATEMENTS OF FINANCIAL POSITION JUNE 30, 2006 AND 2005 ASSETS 2006 2005 Current Assets Cash and cash equivalents $ 1,557,058 $ 1,460,466 Accrued interest receivable 5,665 2,793 Pledges receivable 687,726 402,000 Accounts receivable 146,558 77,863 Orientation Program receivables 10,450 68,960 Prepaid expenses 48,491 45,751 Deposits 10,078 10,078 Total Current Assets 2,466,026 2,067,911 Fixed Assets Furniture and fixtures 336,347 262,364 Less: accumulated depreciation 244,556 212,938 Fixed Assets, Net 91,791 49,426 Other Non-Current Assets Cash for Wallace L. Jones Fellowship Endowment Total Other Non-Current Assets
292,899 292,899
217,869 217,869
TOTAL ASSETS $ 2,850,716 2,335,206 LIABILITIES AND NET ASSETS Liabilities Accounts payable $ 1,344,056 $ 1,308,904 Accrued expenses 490 2.635 Accrued vacation 19,586 19,586 Deferred revenue 130,000 Total Liabilities 1,494,132 1,331,125 Net Assets Unrestricted 1,019,377 792,224 Permanently restricted net assets for the 277,207 211,857 Wallace L. Jones Endowment Total Net Assets 1,356,584 1,004,081 TOTAL LIABILITIES AND NET ASSETS $ 2,850,716 $ 2,335,206
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Financial Review STATEMENTS OF CASH FLOWS JUNE 30, 2006 AND 2005 2006 2005 Cash Flows From Operating Activities Change in net assets $ 352,504 $ 238,913 Adjustments to reconcile change in net assets to net cash used by operating activities Depreciation 31,617 35,061 Net realized loss on sale of investments - 10,883 In-kind contribution from receipt of stock - (199,710) Change in assets - (increase) decrease Accrued interest receivable (2,872) (2,547) Pledges receivable (285,726) 271,000 Accounts receivable (68,695) (67,594) Orientation Program receivables 58,510 (41,859) Prepaid expenses (2,740) (13,065) Unrestricted earnings on the (9,680) (7,017) Wallace L. Jones Fellowship Endowment Permanent contributions for the (65,350) (2,460) Wallace L. Jones Fellowship Endowment Change in liabilities - increase (decrease) Accounts payable 35,152 6,793 Accrued expenses (2,145) 290 Deferred Revenue 130,000 - Total Adjustments (181,929) (10,225) Net Cash Provided by Operating Activities
(170,575)
(228,688)
- (73,983) (73,983)
188,827 (17,000) 171,827
Net Increase in Cash and Cash Equivalents
96,592
400,515
Cash and Cash Equivalents - Beginning of Year
1,460,466
1,059,951
Cash and Cash Equivalents - End of Year
1,557,058
1,460,466
Cash Flows Provided by Investing Activities Proceeds from sale of investments Purchase of furniture and fixtures Net Cash Provided (Used) by Investing Activities
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Financial Review STATEMENTS OF ACTIVITIES YEARS ENDED JUNE 30, 2006 AND 2005
2006
Unrestricted
2005
Temporarily Permanently Total Unrestricted Temporarily Permanently Total Restricted Restricted Restricted Restricted
PUBLIC SUPPORT AND REVENUE Public Support Contributions
$ -
$ -
$1,996,213
Alumni and corporate matching gifts 175,195
-
-
175,195
171,381
-
-
Special Orientation Program gifts
-
-
796,135
579,375
-
-
579,375 10,134,618
Corporations and foundations
$1,996,213 796,135
$1,846,942
$
-
$
-
$1,846,942 171,381
Tuition remission by participating members 10,633,732
-
-
10,633,732
10,134,618
-
-
Wallace L. Jones Fellowship Fund
-
-
65,350
65,350
-
-
2,460
13,601,275
-
65,350
13,666,625
12,732,316
-
2,460
12,734,776
50,463
-
-
50,463
13,470
-
-
13,470
Total Public Support
2,460
Revenue
Investment Income
Realized loss on sale of investments
-
-
-
-
(10,883)
-
-
(10,883)
Orientation Program registration fees
242,665
-
-
242,665
239,515
-
-
239,515
Application fees
122,490
-
-
122,490
112,132
-
-
112,132
Miscellaneous revenue
153,298
-
-
153,298
61,582
-
-
61,582
Total Revenue
568,916
-
(12,124)
568,916
415,816
-
(11,326)
415,816
-
-
-
-
-
-
-
-
14,170,191
-
65,350
14,235,541
13,148,132
-
2,460
13,150,592
Net Assets Released from Restrictions Total Public Support, Revenue and
EXPENSES Program service Student costs 11,752,732 - - 11,752,732 11,167,618 - - 11,167,618 Student recruiting 333,167 - - 333,167 310,500 - - 310,500 Alumni relations 189,782 - - 189,782 141,314 - - 141,314 Placement services 14,306 - - 14,306 10,787 - - 10,878 Orientation Program 517,572 - - 517,572 427,792 - - 427,792 Total program services 12,807,559 - - 12,807,559 12,058,011 - - 12,058,011 Supporting Services
Fundraising Management and general
382,065
-
-
382,065
363,133
-
-
363,133
693,413
-
-
693,413
490,535
- -
490,535
1,075,478
-
-
1,075,478
853,668
-
-
853,668
Total Expenses
13,883,037
-
-
13,883,037
12,911,679
-
-
CHANGE IN NET ASSETS
287,154
-
65,350
352,504
236,453
-
2,460
238,913
Net assets, beginning of year Net assets, end of year
792,224
-
211,857
1,004,081
555,771
-
209,397
765,168
1,079,377
-
277,207
1,356,584
792,224
-
Total supporting services
211,857
12,911,679
1,004,081
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Corporate and Strategic Partners Founder
Deloitte Foundation
AIG VALIC**
$50,000 and Above
Eli Lilly and Company
3M
Emerson
Amerada Hess Foundation, Inc.
Citigroup Inc.
Ernst & Young**
Banc of America Securities
Northrop Grumman Litton Foundation
Consortium Alumni Fellowship Fund & Corporate Matching Gifts
ExxonMobil Corporation
Bank of America Endowment
Northwest Airlines Corporation
General Motors Corporation
Bausch & Lomb Incorporated
Northwestern Mutual Foundation
Goldman, Sachs & Co.
Bear, Stearns & Co. Inc.
Philip Morris USA
The Guidant Foundation
BellSouth Corp.
Russell Investment Group*
General Mills, Inc. Hewlett-Packard Company National Society of Hispanic MBAs* The Procter & Gamble Fund
Patron
IBM International Foundation ING America**
Booz Allen Hamilton Bristol-Myers Squibb Foundation, Inc.
J.P. MorganChase
Campbell Soup Company*
New York Life Insurance Company NIKE, Inc.**
Springs Global U.S., Inc. Sprint Corporation T. Rowe Price
Johnson & Johnson
$30,000 – $49,999
The Clorox Company
TIAA-CREF
Liberty Mutual Group*
Air Products and Chemicals, Inc.
DTE Energy**
Merrill Lynch & Co., Inc.
DuPont Company*
Unilever United States, Inc.
Miller Brewing Company
Eaton Corporation**
American Express Company The Bank of New York & The George Link, Jr. Foundation The Broad Center for the Management of School Systems** Cargill, Incorporated* Chevron Corporation The Coca-Cola Company ColgatePalmolive Company
National City Corporation PepsiCo Pfizer, Inc. S.C. Johnson and Son, Inc. Target Corporation Toyota Motor Sales, USA, Inc. UBS Global Asset Management**
Embarq** Federal Reserve Bank of New York GE* Kellogg Company KPMG Peat Marwick Foundation Kraft Foods Inc. The McGraw-Hill Companies** McKinsey & Company Medtronic, Inc.
Coors Brewing Company*
Sustaining
Merck & Co., Inc.
Credit Suisse
$15,000 – $29,999
Morgan Stanley
DaimlerChrysler
Abbott Laboratories**
Nestlé USA, Inc.*
Agilent Technologies
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United Technologies** Wyeth Consumer Healthcare*
Philanthropic $14,999 and Below AT&T Bayer HealthCare – Consumer Care Division Best Buy Company, Inc. Ford Motor Company Mays Chemical Company * New FY2005 Sponsor ** New FY2006 Sponsor
2006 Orientation Program Underwriters Lead Sponsor
Johnson & Johnson
Campbell Soup Company
Emerson
Liberty Mutual Group
Cargill, Incorporated
Toyota Motor Sales, USA, Inc.
Chevron Corporation
Diamond
.
Credit Suisse
PepsiCo Beverages & Foods
Silver
DTE Energy
Air Products and Chemical, Inc.
ExxonMobil Corporation
Platinum
The Bank of New York
GE
3M
Deloitte
Goldman, Sachs & Co.
American Express Company
General Motors Corporation
IBM
Citigroup Inc.
Kraft Foods Inc.
J.P. Morgan Chase
Civic Progress
Medtronic, Inc.
Merrill Lynch & Co., Inc.
DaimlerChrysler
Pfizer, Inc.
Nestle USA, Inc.
General Mills, Inc.
S.C. Johnson and Son, Inc.
NIKE, Inc.
Hewlett-Packard Company
Northwest Airlines Corporation
Microsoft
Bronze
Northwestern Mutual Foundation
Procter & Gamble
Agilent Technologies
Philip Morris USA
Bear, Stearns & Co. Inc.
Sprint Corporation
Gold
BellSouth Corp.
Target Corporation
Colgate-Palmolive Company
Booz Allen Hamilton
T. Rowe Price
Eli Lilly & Company
The Broad Center for the Management of School Systems
Unilever United States, Inc.
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Donor Leadership Circle Eagle Club $15,000 and Above (Committed $5,000 Annually for Three Years) Peter J. Aranda Waldo T. Best Kenneth Charles Nicole M. Chestang Kelly-Ann I. Henry Peter P. Jones James H. Parks Platinum Club $2,000 - $5,000 Clarence K. Bourne Deadra L. Gibbons Alan S. Hamilton Christopher M. Johnson James C. Jackson Alvin W. Marley Joaquin Marrero Sabrina L. Martinez Bill Mays Pia L. McWilliams Robert M. Purcell Dwight T. Smith Phyllis Tate Jeffrey E. Thompson JosĂŠ J. Villarino Marla J. Williams Angela E. Williams
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Gold Club $1,000 - $1,999 Maria A. Aguirre Marc D. Andraca Bernadette R. Bailey William J. Beckham Ronald E. Berry Makaiya Brown Eleni Bunch Natascha J. Cadet Alfredo A. Chiriboga Akasha N. Davis Cori M. Donaldson Robert Duran Cheryl D. Fitzgerald Pamela M. Frederick Nelson A. Garcia Rodolfo T. Gonzales William O. Johnson Sharon D. JamesWade Michael D. Jones Sandra W. Jones Wendell W. Jones Michael W. Lewis Bennie L. Marshall Alysia R. Massop T. E. Munson Marvin T. Pannell Gregory N. Phelps James R. Robinson
James A. Rodriguez-Colom Michael J. Sais Faustino Fernando Santana Jose Antonio Traywick Sherrylyn F. Wallace Richard L. Wilkes Chavis A. Williams Silver Club $500 - $999 Oscar G. Abello Gail R. Arinzeh Deborah J. Atuk Tyrone Austin Seymour H. Barker Francisco F. Barraza Pablo E. Barrutia Phillip Barrientos Andrea Barrutia Dawn L. Batts Christopher S. Bolt Bernice C. Bonnett Thomas C. Boyce Ronald M. Brien Leticia D. Carrasco Gary L. Carter Egbert A. Clarke Paul L. Colon Michael L. Connors Patricia A. Crocker France
Janice Croom Julius T. Crouch Ricardo C. Cuenca Kenneth J. Duncan Kathann E. El-Amin Darrell Farlough Ernest Ferguson, III Ricardo Fernandez Patrick L. Flythe Ana T. Garriga Noelle T. Gonzalez Teodoro J. Gonzalez Rosalyn M. Gregg Jesse L. Grissom Cosette Gutierrez Stephen D. Harris Will E. Horton Curtis J. Johnson Winston A. Johnson Kevin A. Joy Claribel G. Kim Charles I. Kosmont Valerie M. Lauderdale Cheryl N. Lorenzo Roberto A. Lumpris Robert L. Martinez Robert H. Mason Erik M. Medina James F. Morales Ifeoma C. Okwumabua Ricardo Jose Ortega
Daniel A. Pacheco James L. Pittman Sherwin L. Prior Richard E. Quintana Gregory C. Redmond Donald C. Robinson David Rodriguez Kellee D. Scott Evrard H. Spencer Jeffrey W. Stovall Kenisia D. Taylor Stephanie E. Toney Ed Torres Israel D. Vela Raquel T. Watson Victoria L. Weiss Evelyn Wehrens David B. Wooten Bronze Club $250 - $499 Eric B. Aguilar Ernesto A. Alfaro Daniel A. Brady Ernest K. Brandon Tommie C. Brooks Jerry G. Brown Kenneth J. Burkeen Eugene Carreras Samuel Casillas Donna A. Chatman Owens Elvira Chavaria
Donor Leadership Circle Jevata B. Crawford Beatriz Dale Patricia Delgadillo Victor P. De La Paz Frederick S. Echeverria David N. Elien Julian D. Evans Carlos J. Evora Carlos A. Falcon Daniel Garza James A. Greig Ronald Harris Brian D. Herf Randall J. Hernandez Bradford Hobbs Rafael F. JanerMartinez David E. Jasso John A. Jones Shawn A. Joseph Lynn Y. Keel Charles K. Liles Richard E. Maiz William O. Marks Douglas C. Martin Lisa O. McDonald Renee L. Middendorf Yvette A. Morrison Rauline M. Ochs George A. Parker Martin Perazza Luis R. Perez
Kerry C. Richards Donald E. Robinson Marisol Rodriguez Leslie C. Shaw Bright Darryl A. Shelton Willard B. Sims Manuel F. Siverio Pieter H. Smit Craig A. Sterling Kesia D. Taylor Manuel Teijelo Donald W. Trapp Carolyn Valentine Shelley W. Whiting Jaclan O. Williams Yashica L. Wiliams Tina C. Yuille Donors $1 - $249 Andrea E. Acuna Bernardo O. Ainza Christine E. Allen Harry L. Alston Timicka C. Anderson Vladimir Andral Lisa D. Andujar-Ray Andres Arbizu Eldner L. Arrington Degraffenreidt Patrick O. Asare Dorlisa E. Bacote
Kimberly N. Balderas Shawn M. Barnes Ian C. Barrett Gustavo R. Benejam Nilma Benejam Greg J. Benitez Richard A. Biegun Shana Black James L. Blackwell Teresa C. Blake Anthony C. Bland Thomas L. Borders Jacqueline L. Borges Jason L. Brown Joy L. Bryant Hollis S. Budd Khary M. Burke LaVera Burnim Jose E. Cabrera Warren A. Campbell Audrey L. Capers Kelsy M. Carrington Charles G. Case George J. Castellano Lourdes M. Castellanos Tonya Cheek Rhonda Y. Colbert Jason S. Corona Edward D. Cucalon
Allyn O. Curry Charles W. Cush Anthony O. Davis Jacquelyn W. Duncan Desmond A. Duncker Tiffany L. Elder Kurt A. Engstrom Ixchel M. Faniel Bruce C. Fernandez Arlesia Fields Diane E. Fishstein Fausto Flores Trashawn J. Flowers Laura A. Fogo Alba E. Franco Terry L. Fraser Sharifa Z. Garcia Cheryl A. Gardner Charles V. Garity Carla M. Gathers Richard B. Genece Joan E. Gosier Anthony R. Grant Kelly C. Green William C. Greenwald Nelson J. Grillo Rodney Gurdal Wayne E. Hamilton Dexter L. Harris Yvonne J. Harris Audelle R. Harvey Beryl G. Holmes
Derek A. Hopkins Wanda A. Humphrey Scott W. Hunter Joseph C. Hurley Sara L. Hurwitch Santiago Iglesias Carlos A. Ingles Jennifer A. Jackson Sylvester Jackson Karimu M. Johnson Kimberly D. Johnson Nicole J. Jones Jaime Juarez Erika L. Kempff Robert N. Lawrence Julio J. Lazaro Joe Llaca Janell R. LoftonMinta Kahlil Lozoraitis LaShelle D. London Mwanza O. Lumumba Angel M. Lupercio Pablo A. Mastandrea Angela T. McCareins John M. McCareins Linsey McDaniel Miranda J. McFadden Carl E. McGowan
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Donor Leadership Circle Ricardo Mejia Alvaro E. Mendoza Jeanette K. Meyer Deroy Murdock Rita R. Murrell Lewis H. Myers Maria E O’Hollearn Afolabi M. Ojumu Raquel T. Okanla James M. Olavarria Luis R. Padilla Armand D. Perez Jannie Pittman McDowell Porter, III Lisa K. Poyta Ni Kal E. Price Emine F. Prieto Jesus M. Prieto Robert J. Rischard Marianela R. Rivera Jose E. Rodriguez Gloria RodriguezVillares Freddy Rolón Claudia Romero Gita E. Runkle David A. Sanders James D. Sherard Michael D. Simmons Joseph C. Simpson Denna L. Singleton Rodney Carew Singleton Arjonetta M. Smith Cheronda L. Smith
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Chester Smith Joshua A. Smith Pedro B. Smith Alexander Sousa Lisa A. Stevenson Mohammed Talabi Sandra A. Talley Evangeline Taylor Charles E. Thomas Buford Thompson Emmanuel F. Tillman Kenneth W. Turner Nancy J. Tyler Ricardo Valenzuela Frank L. Van Buren Jonathan B. Vaughters Vanessa B. Vaughters Maribelle Villasenor Cynthia K Wachtel Fred E. Wainwright Phyllis A. Walden Angela D. Washington Russell D. Weinstein John L. Wesley Barbara Williams Marvin L. Winkfield Steven R. Wolfe William G. Woodson Monica L. Young Valerie A. Zanders Tequame Zewde
The Consortium for Graduate Study in Management Contact Information 5585 Pershing Avenue, Suite 240 St. Louis, Missouri 63112-1795 Phone: (314) 877-5500 Fax: (314) 877-5505
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