The Consortium for Graduate Study in Management
Fiscal Year 2008 Annual Report
Annual Report Contents 3
About The Consortium
4
The Consortium Member Schools
5
OP Highlights
6
Recognitions
7
Class of 2010 Student Profile
8
Financial Review
12
Corporate and Strategic Partners
13
2008 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
Yale University Yale School of Management Member since 2008
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 Incoming students gathered in Dallas, Texas excited to participate in the 42nd Annual Orientation Program & Career Forum sponsored by PepsiCo. The company welcomed conference attendees with fun, food and fantastic entertainment in the Hilton Anatole’s Sculpture Park. PepsiCo also hosted the Consortium Community on their corporate headquarters. Attending workshops, primers and a career forum, the students learned about The Consortium and career opportunities with corporate partners. Conference participants celebrated The Consortium’s accomplishments and recognized outstanding individuals at the Sterling H. Schoen Awards Luncheon, the Peter C. Thorp Leadership Awards Luncheon and the Gala Dinner.
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Recognitions The Consortium recognized the following individuals at the 2008 Annual Orientation Program and Career Forum: Sterling H. Schoen Achievement Award Dr. Alfred L. Edwards, Professor Emeritus, University of Michigan - Ann Arbor (Posthumous) Peter C. Thorp Corporate Leadership Award Geraldine Gallashaw, Managing Director and Head of Global Diversity Strategies, The Bank of New York Mellon Wallace L. Jones Alumni Lifetime Achievement Award Beatriz Barciela Dale, Regional Ombudsperson, Office of the Ombudspersons, American Express Company. Indiana University - Bloomington ‘78) Wallace L. Jones Fellowship Award Sean Senhouse (University of Rochester ‘10) NSHMBA/Consortium Award Marcos Cunha (Indiana University - Bloomington ‘10)
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Class of 2010 Student Profile 288 Enrolled Students Age Range 24-31
African American 54%
Average Age 27
Hispanic American 31%
Male 55% Female 45%
Asian American 3% Native American or Alaskan Native 1%
GPA Average - 3.49 80% Range - 2.67 - 3.73 GMAT Score Average - 644 80% Range - 570 - 720
Caucasian 0.33% Other 4%
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Financial Review
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Financial Review STATEMENTS OF FINANCIAL POSITION JUNE 30, 2008 AND 2007 ASSETS 2008 2007 Current Assets Cash and cash equivalents $ 2,050,263 $ 2,107,010 Accrued interest receivable 31,838 Pledges receivable 523,604 579,980 Accounts receivable 4,159 7,886 Orientation Program receivables 91,444 132,625 Prepaid expenses 81,871 59,767 Deposits 10,078 10,078 Total Current Assets 2,793,257 2,897,346 Fixed Assets Furniture and fixtures 386,152 347,245 Less: accumulated depreciation 324,257 285,530 Fixed Assets, Net 61,895 61,715 Other Non-Current Assets Cash for Wallace L. Jones Fellowship Endowment Total Other Non-Current Assets
324,846 324,846
319,327 319,327
TOTAL ASSETS $ 3,179,998 $ 3,278,388 LIABILITIES AND NET ASSETS Liabilities Accounts payable $ 1,103,286 $ 1,477,035 Accrued expenses 710 1,100 Accrued vacation 19,586 19,586 Deferred revenue 3,600 Total Liabilities 1,127,182 1,497,721 Net Assets Unrestricted 1,669,909 1,452,735 Permanently restricted net assets for the 382,907 327,932 Wallace L. Jones Endowment Total Net Assets 2,052,816 1,780,667 TOTAL LIABILITIES AND NET ASSETS $ 3,179,998 $ 3,278,388
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Financial Review STATEMENTS OF CASH FLOWS JUNE 30, 2008 AND 2007 2008 2007 Cash Flows From Operating Activities Change in net assets $ 272,149 $ 424,083 Adjustments to reconcile change in net assets to net cash used by operating activities Depreciation 38,727 40,975 In-kind contributions for fixed assets (38,907) Change in assets - (increase) decrease Restricted cash (31,838) Accrued interest receivable - 5,665 Pledges receivable 56,376 (187,221) Accounts receivable 3,727 70,504 Orientation Program receivables 41,181 240,960 Prepaid expenses (22,104) (11,276) Unrestricted earnings on the (5,519) (10,465) Wallace L. Jones Fellowship Endowment Permanent contributions for the - (19,113) Wallace L. Jones Fellowship Endowment Change in liabilities - increase (decrease) Accounts payable (373,749) 132,979 Accrued expenses (390) 610 Deferred Revenue 3,600 (130,000) Total Adjustments (328,896) 133,618 Net Cash Provided by Operating Activities
(56,747)
557,701
- -
(10,899) (10,899)
Net Increase in Cash and Cash Equivalents
(56,747)
546,802
Cash and Cash Equivalents - Beginning of Year
2,107,010
1,560,208
Cash and Cash Equivalents - End of Year
2,050,263
2,107,101
Cash Flows Provided by Investing Activities 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, 2008 AND 2007
2008
Unrestricted
2007
Temporarily Permanently Total Unrestricted Temporarily Permanently Total Restricted Restricted Restricted Restricted
NET PUBLIC SUPPORT AND REVENUE Net Public Support Contributions
$ -
$ -
$2,014,845
Alumni and corporate matching gifts 176,779
-
-
176,779
180,933
-
-
Special Orientation Program gifts
-
-
852,844
888,914
-
-
888,914
Corporations and foundations
$2,014,845 852,844
$2,001,301
$
-
$
-
$2,001,301 180,933
Tuition remission by participating members 13,911,499
-
-
13,911,499
11,623,327
-
-
11,623,327
Wallace L. Jones Fellowship Fund
-
-
58,975
58,975
-
-
50,725
50,725
Bad Debt Losses
Total Public Support
-
-
(4,000)
(4,000)
-
-
-
16,955,967
-
54,975
17,010,942
14,694,475
-
50,725
- 14,745,200
Revenue
Investment Income
39,825
-
-
39,825
64,108
-
-
64,108
Orientation Program registration fees
209,998
-
-
209,998
320,875
-
-
320,875
Application fees
146,365
-
-
146,365
137,430
-
-
137,430
Miscellaneous revenue
122,816
-
-
122,816
155,371
-
-
155,371
Total Revenue
519,004
-
-
519,004
677,784
-
-
677,784
-
-
-
-
-
-
-
-
17,474,971
-
54,975
17,529,946
15,372,259
-
50,725
15,422,984
Net Assets Released from Restrictions Total Public Support, Revenue and
EXPENSES Program service Student costs 14,562,499 - - 14,562,499 12,742,327 - - 12,742,327 Student recruiting 356,619 - - 356,619 283,194 - - 283,194 Alumni relations 288,076 - - 288,076 212,012 - - 212,012
Placement services
Orientation Program Total program services
21,522
-
-
21,522
16,096
-
-
16,096
629,069
-
-
629,069
553,522
-
-
553,522
15,857,785
-
-
15,857,785
13,807,151
-
-
13,807,151
518,930
-
-
518,930
399,216
-
-
399,216
Supporting Services
Fundraising Management and general Total supporting services Total Expenses
CHANGE IN NET ASSETS
Net assets, beginning of year Net assets, end of year
881,082
-
-
881,082
792,534
1,400,012
-
-
1,400,012
1,191,750
17,257,797
-
-
17,257,797
- -
792,534
-
-
1,191,750
14,998,901
-
-
14,998,901
217,174
-
54,975
272,149
373,358
-
50,725
424,083
1,452,735
-
327,932
1,780,667
1,079,377
-
277,207
1,356,584
1,669,909
-
382,907
2,052,816
1,452,735
-
327,932
1,780,667
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Corporate and Strategic Partners Founder
Eli Lilly and Company
Sustaining
Northwestern Mutual
$50,000 and Above
Emerson
$15,000 – $29,999
PPG Industries
3M
Exxon Mobil Corporation
Agilent Technologies
Schering-Plough
General Motors Corporation
*American Airlines
T. Rowe Price
AT&T
Unilever UnitedStates, Inc.
Air Products and Chemicals, Inc. Citi Consortium Alumni Fellowship Fund & Corporate Matching Gifts
Goldman Sachs IBM
Bank of America Endowment
United Technologies
ING America
Bausch & Lomb Incorporated
JPMorgan
Best Buy Company, Inc.
Kraft Foods, Inc.
Booz Allen Hamilton
Liberty Mutual Group
Johnson & Johnson
Bristol-Myers Squibb
The Coca-Cola Company
*Monsanto Company
National Society of Hispanic MBAs
National City Corporation
Campbell Soup Company
Mays Chemical Company
*Centene Corporation
Medtronic, Inc.
General Mills, Inc. Hewlett-Packard Company
Patron $30,000 – $49,999
Abbott Laboratories American Express Company Bank of America The Bank of New York Mellon Barclays Capital Boston Scientific Corporation The Broad Center for the Management of School Systems Cargill, Incorporated Chevron Corporation Chrysler LLC ColgatePalmolive Company Deloitte
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Nestlé USA, Inc.
The Clorox Company
Northwest Airlines Corporation
ConAgra Foods, Inc.
PepsiCo/Frito-Lay, Inc.
Coors Brewing Company
Pfizer, Inc.
Credit Suisse
The Procter & Gamble Company
DTE Energy
S.C. Johnson and Son, Inc.
Eaton Corporation
Target Corporation Toyota Motor Sales, USA, Inc. UBS Global Asset Management *Wal-Mart Stores, Inc. WellPoint, Inc.
*DuPont Federal Reserve Bank of New York *Humana Inc. KPMG Lehman Brothers Inc. *Mattel, Inc. Merck & Co., Inc. Merrill Lynch & Co., Inc. *Moody’s Investors Service NIKE Inc.
Philanthropic $14,999 and Below
* New FY2008 Sponsor
2008 Orientation Program Underwriters Lead Sponsor
Silver
DTE Energy
Eli Lilly and Company
Air Products and Chemicals, Inc.
Eaton Corporation
The Bank of New York Company, Inc.
Ernst & Young
Diamond PepsiCo WellPoint, Inc. Platinum 3M American Express Company Citigroup, Inc. General Mills, Inc. Microsoft Corporation The Procter & Gamble Company Gold Colgate-Palmolive Company Hewlett-Packard Company
Boston Scientific Corporation Deloitte General Motors Corporation Kraft Foods, Inc. Toyota Motor Sales, U.S.A., Inc. Unilever United States, Inc. United Technologies Bronze Abbott Laboratories
Goldman, Sachs & Company ING America JPMorgan Liberty Mutual Group McKinsey & Company National City Corporation NestlĂŠ USA, Inc. Northwest Airlines Corporation PPG Industries T. Rowe Price Associates, Inc.
Agilent Technologies, Inc. Bank of America Barclays Capital Booz Allen Hamilton
Johnson & Johnson
The Broad Center for the Management of School Systems
Pfizer, Inc.
Campbell Soup Company
S.C. Johnson and Son, Inc.
Chevron Corporation
Target Stores, Inc.
Credit Suisse
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Donor Leadership Circle Eagle Club $15,000 and Above (Committed $5,000 Annually for Three Years) Peter J. Aranda, III Waldo T. Best Clarence K. Bourne Kenneth A. Charles Nicole M. Chestang Kelly-Ann I. Henry Sharon D. James Omar Jones Peter P. Jones William G. Mays Timothy C. McChristian Lisa M. Rubens Ed Torres Platinum Club $2,000 - $5,000 Maria A. Aguirre David S. Alonzo Andrea M. Burgess Cori M. Donaldson Will E. Horton Kerrisha S. Jenkins Christopher M. Johnson Alvin W. Marley, CFA Pia L. McWilliams Jeffrey S. Russell Marla J. Williams
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Gold Club $1,000 - $1,999 Thomas C. Boyce Eleni Bunch Natascha J. Cadet Bruce E. Cox Beatriz Dale Bertram M. Days Robert W. Diaz Gerardo B. Flores Maria A. Flores Nelson A. Garcia Carlos M. Gonzales Ubong E. Ituen Curtis T. Jewell Michael W. Lewis Cheryl N. Lorenzo Aubrey L. Martin Carl E. McGowan Daniel A. Pacheco Tu Trinh T. Pham Gregory C. Redmond James R. Robinson Alexander C. Sutton Clarence E. Taylor Carolyn Valentine Maribelle Villasenor Sabrina Washington Raquel T. Watson Wilmer A. West, Jr.
Silver Club $500 - $999 Christopher Babick Seymour H. Barker Carlos J. Barrionuevo Kevin Bethune Eugene Carreras Gary L. Carter Darrell Farlough Fausto Flores Jesse L. Grissom Jasmine Hightower Kevin J. Howard Harry Holmes Scott W. Hunter Valeria L. Hunter Linda C. Keene Solomon Charles I. Kosmont Anthony N. Llano Luckie J. Sloan Joaquin Marrero John M. McCareins Luis R. Perez Richard E. Quintana Vernon A. Reid Beverly A. RogersIsom Gunther M. Stein Tamara TurnleyRobinson Frank L. Van Buren Sal Veas Israel D. Vela
Yvette M. Washington-Irving Shelley W. Whiting Bronze Club $250 - $499 Ernesto A. Alfaro Christine E. Allen Nogiomwan Aigbogun Ernesto A. Alfaro Alexandra P. Atkins Jon P. Bates Shana Black Bernice C. Bonnett Allan J. Boomer Daniel A. Brady Ernest K. Brandon Ronald M. Brien Alice M. Case Donna A. Chatman Owens Tonya Cheek Miguel R. CorreaCestero Jocelyn D. Evans Trinidad Flores Ricardo M. Gonzales Barry M. Granger Stephen D. Harris Bradford Hobbs Sheldon B. Howell Gloria P. Jeffers Melinda V. Johnson Michael Johnson
Melanie S. Jones Shawn A. Joseph Charlene L. King Charles K. Liles Sanford Livingston Roberto A. Lumpris Mwanza O. Lumumba Alita L. Marshall Linsey McDaniel Randolph S. Medina Leric Y. Nicholas Rauline M. Ochs Ivania Palacios Martin Perazza Alejandro Roman Rodney J. Sanders Paloma SantiagoAdorno Doris F. Simmons Brown Cheronda L. Smith Curtis B. Snyder Antoinette A. Soares Nikki K. Turner Eugenio Vargas Chris D. Watkins Brock A. Williams Archie Willis
Donor Leadership Circle Donors $1 - $249 Bernardo O. Ainza Amado Albelo Carlos B. Alexander Christine E. Allen David O. Amuda Lisa D. Andujar-Ray Andres Arbizu Maria C. Arisso Elena M. ArroyoTaylor Dennis K. Bacon Samuel W. Bacote Johnna L. Bady Daniel E. Baldor Ian C. Barrett Ruben A. Basantes Solymar Berrios Teresa C. Blake Alicia R. Board Alzay Calhoun Joy D. Carpenter Leo F. Carpio Damien J. Carter Cynthia Casas Charles G. Case Lourdes M. Castellanos Gwendolyn H. Chambers Elvira Chavaria Carlos M. Cojulun Jamie M. Conwell
Jason S. Corona Rodney L. Crain Gordon L. Davis Karen R. Davis Barbara A. De Leon Rafiah M. Dixon Desmond A. Duncker Janice M. DupreLittle Adeola L. EmdinWoolery Venetia N. Espinoza-Dawson Ixchel M. Faniel Ramiro D. Fernandez Juan A. Flores Faithea A. Flowers Kenneth D. Ford Gregory A. Fraser Sebastian GariaVinyard Edwin L. Gaskin Kimberly A. Gay Michelle M. Giroud-Green Antony E. Gonzales Anthony R. Grant Djena N. Graves Kisha L. Green Caryn M. Greene Nelson J. Grillo Daniel A. Gutierrez Audelle R. Harvey
Perry J. Heard, Jr. Patricia K. Hernandez Randall J. Hernandez Nadia E. Holder Rhonda D. Holmes Todd A. Hood Felipe Izquierdo Allen Jackson LaTanja K. Johnson Kim Jones Kevin A. Joy Joseph P. Kavanagh Renee Kops-Jones Neha Kumar LaShelle D. London Maria A. Lovera Tony R. Lyons Sandra D. Marks William O. Marks Robert H. Mason Gwendolyn E. McCay Willard L. McCloud Maria C. McGlew Ato K. Micah Arthur L. Mills, IV Kenneth D. Mitchell Carlos A. Montes Hazzen O. MuĂąoz Lewis H. Myers Ernesto J. Nicot Timothy Nolan
James M. Olavarria Marc D. Palmer Daryl Peagler Mariano L. Pelliza Benjamin Robins Carla G. Rogers Sarah Schwald Michael Scotti Gilindolyn D. Spencer Douglas W. Sticksel Ajamu Stoner Elizabeth Y. Storz Jeffrey W. Stovall Manuel Teijelo Terrence Thomas Charles Thompson Liza P. Tirado Janelle D. TolesFedlam Elester C. Townsend Juan C. Valenciana Jonathan B. Vaughters Sherrylyn F. Wallace John L. Wesley Sherman B. Whites LaVarn Williams Nylon R. Wilson Steven R. Wolfe William G. Woodson Ricky E. Ybarra Tina C. Yuille
Gustavo A. Zapata Tequame Zewde
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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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