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LOGAN UNIVERSITY

20 15-20 16 ANNUAL REP O RT


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LOGAN UNIVERSITY


Dear Alumni, Colleagues and Friends: In the past year, Logan launched the Forever Chiropractic, Forever Logan campaign to build a perpetual offering of scholarship endowments for students. I’m pleased to announce that we awarded $8,000 to four deserving students over the past year. While this number does not seem large to some, to each of these students, a portion of their future student loan debt has been reduced.

It is that time of the year again, that I happily share Logan University’s Annual Report. It was another tremendous year for Logan University as we continued to grow unique offerings for our students, providing them a superior education that is unlike any within the community today. Fundraising continues for the Honoring Tradition campaign to raise money to restore the Tower. As a defining element of our campus, the renovation and beautification work will begin in fall 2017. Ensuring the Tower has a presence in our future is a priority for us today. There is still time to be part of this campaign to restore this important reminder of our past and symbol of our future. Visit logan.edu/ RestoreTheTower to learn more.

Logan’s alumni have an opportunity to make a huge impact on the future doctors of tomorrow and our amazing industry. Imagine the influence we can have by not only referring students to our profession, but assisting them in reducing some of the burden of the cost of financing an education. I am excited to see this endowment continue to grow and encourage you to visit logan.edu/Forever to learn more. I once again thank you for your support. Logan is only strong with the support of our loyal alumni, faculty, staff, students and friends. The future is bright for chiropractic and I look forward to our future as we rapidly approach the 85th anniversary of Logan! Dr. Clay McDonald

President

2015-2016 ANNUAL REPORT

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FISCAL YEAR 2016 FINANCIAL HIGHLIGHTS Logan continues its strong financial position due to disciplined management, thorough governance structure and steady leadership. Our net assets stand at $80 million with strong cash and investment balances totaling $39 million. The University continues to invest in physical facilities to support key academic initiatives and infrastructure. The generous support of our donors and commitment of the Logan community have been essential to building our capabilities. We encourage you to read the audited financial statements and related notes online at logan.edu/StateOfLogan for more information regarding the financial position and results of Logan University.

LOGAN UNIVERSITY, INC. STATEMENT OF FINANCIAL POSITION August 31, 2016 (With Comparative Totals for 2015) August 31, 2016

ASSETS Cash and cash equivalents Unrestricted Restricted

$

4,790,544 593,371

$ 8,530,224 3,423,000

5,383,915 88,356 1,128,919 5,635,143 421,970 39,671,014 33,766,443 473,453 16,133 10,083

11,953,224 54,630 1,221,500 5,723,068 398,090 41,035,410 29,036,139 445,720 25,580 10,083

$ 86,595,429

$ 89,903,444

Accounts receivable, net Contributions receivable, net Student loans receivable Prepaid expenses Property and equipment, net Investments Cash surrender value of life insurance policies Other assets Beneficial interest in Logan University Education Foundation Total assets

2015

LIABILITIES

Accounts payable Accrued liabilities Deferred revenues U.S. Government grants refundable

$

361,966 640,122 395,995 5,185,445

$

336,214 313,292 263,645 7,625,762

6,583,528

8,538,913

Unrestricted Temporarily restricted Permanently restricted

$ 76,240,951 2,734,613 1,036,337

$ 77,052,928 3,313,498 998,105

Total net assets

80,011,901

81,364,531

$ 86,595,429

$ 89,903,444

Total liabilities

NET ASSETS

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LOGAN UNIVERSITY


LOGAN UNIVERSITY, INC. STATEMENT OF ACTIVITIES August 31, 2016 (With Comparative Totals for 2015) Year Ended August 31, 2016

2015

$ 23,756,898 $ (88,878) $ 23,668,020 89,534 222,918 752,386 678,945 570,775 (109,547) 37,823 422,373 21,630

$ 23,051,713 $ (90,555) $ 22,961,158 268,472 336,268 802,249 618,569 (1,656,752) 572,056 (37,803) 663,352 32,787

26,354,857

24,560,356

Education and general Instruction Research Academic support Student services Institutional support Operation and maintenance of plant

10,792,568 189,012 918,399 2,947,784 7,465,095 2,614,908

9,950,205 478,639 984,089 2,941,774 6,932,386 2,560,113

Total expenses before depreciation and amortization Depreciation and amortization

24,927,766 2,779,721

23,847,206 2,682,278

27,707,487

26,529,484

(1,352,630) 81,364,531

(1,969,128) 83,333,659

REVENUES, GAINS AND OTHER SUPPORT

Tuition and fees Less institutional aid Net Tuition and fees Federal grants and contracts Private gifts, grants and contracts Sales and service of educational activities Investment income Net unrealized gain (loss) on investments Net realized gain (loss) on investments Gain (loss) on sale of property and equipment Other sources Sales and services of auxiliary enterprises

EXPENSES

Total expenses

CHANGES IN NET ASSETS NET ASSETS, Beginning NET ASSETS, Ending

$ 80,011,901

$ 81,364,531

2015-2016 ANNUAL REPORT

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TO O UR G EN ER O US FA MI LY O F D ONORS

THAEK ZOU

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LOGAN UNIVERSITY


FOREVER CHIROPRACTIC, FOREVER LOGAN SCHOLARSHIP ENDOWMENT DONORS Ms. Susan Bockstruck, in memory of LaVinna Moser Dr. Richard Bruns Dr. Cheryl Burtle, in memory of LaVinna Moser

Dr. Ralph Barrale Dr. Douglas Cox Dr. Marshall Feldman Dr. Arlan Fuhr Dr. Debra Hoffman

Dr. Clay McDonald Dr. July Silvestrone Dr. Barry Wiese Virginia Chiropractic Students Assistance Fund

MEMBERS OF THE BENEFACTORS’ CIRCLE The following donors have given $1,000 or more to Logan University during the past fiscal year, September 1, 2015 to August 31, 2016. Dr. Max Ahlers Dr. Donald Altman Dr. Ralph & Sharon Barrale Dr. Nicole & John Bennett Dr. Boyd & Theresa Bradshaw Dr. Richard Bruns Dr. Douglas & Jayne Cox Dr. Stephen Dalsing Dr. Michael Dalton Dr. Christophe & Barbara Dean Dr. Jonathan Dean Dr. Vincent DeBono Dr. Justine DeMaio Dr. Vic Drobnic Dr. Paul Eberline Dr. Peter Feldkamp Dr. Marshall Feldman Dr. Arlan Fuhr Dr. Ronald Grant Dr. Tom Greenawalt Dr. Allen Hager Dr. Michael Haydel Dr. Paul Henry Dr. Sara Heuser Horn Dr. Debra Hoffman Mr. Gregg Hollabaugh Dr. Brad Hough Dr. Cheryl Houston Dr. Ray Howell Dr. Andrew Isaacs Dr. Robert Johnson Ms. Roma Karp

Ms. Linda Kenny Dr. Norman Kettner Mr. Adil Khan Drs. D. Robert & M. Kathleen Kuhn Dr. Joseph Lane Dr. Howard Loomis, Jr. Dr. George Lukovsky Dr. & Ms. Marc Malon Ms. Laura McLaughlin Dr. Clay & Terry McDonald Dr. Bradley McMath Dr. Rick McMichael Dr. Steven Mirowitz Mr. Gary Mohr Dr. Patrick Montgomery Mr. Robert Myers Dr. Gerald Newman Dr. Ronald Nowman Dr. Kimberly O’Reilly Dr. David Parish Dr. Muriel Perillat The Honorable Joshua Peters Dr. David Poe Dr. William Purser Mr. Steven Roberts Mr. Roger Schlueter Dr. Judy Silvestrone Dr. Brian & Robin Snyder Dr. Leonard Suiter Ms. Stacey Till Dr. Brian & Ann Walsh Dr. Barry Wiese

Dr. Rodney Williams Dr. Kurt Wood Dr. Terry Yochum Estate of Dr. Jeffery Sterner Estate of Dr. Keith Berger

ORGANIZATIONS Commerce Bank Chesterfield Chamber of Commerce Drury Hotels Enzyme Formulations Essential Formulas Food Service Consultants Specialized Catering Foot Levelers, Inc. Freund & Company Kopytek, Inc. Michigan Chiropractic Foundation Missouri Association of Financial Aid Personnel Missouri State Chiropractic Association Performance Health, Inc./The Hygenic Corporation Standard Process The KEY Company TR,i Architects UHY Advisors VA. Chiropractic Students Assistance Foundation Wright Construction Services, Inc.

2015-2016 ANNUAL REPORT

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GENEROUS DONORS BOARD OF TRUSTEES DONORS

1954

1977

Dr. Tom Greenawalt

Dr. James Edwards Dr. Leonard Suiter

Dr. Donald Altman

Dr. J. Hobday

1979

Dr. Nicole Bennett

1958

Dr. Douglas Cox Dr. Paul Eberline

Dr. Richard Bruns Dr. Christophe Dean Dr. Paul Eberline Dr. Ronald Grant

1957

Dr. Ronald Nowman 1959

Dr. Gerald Newman

Dr. Allen Hager

1961

Dr. Paul Henry

Dr. Max Ahlers Dr. Arlan Fuhr

Dr. Debra Hoffman

1980

Dr. Christine Becker Dr. Richard Bruns Dr. Michael Dalton Dr. Victor Drobnic Dr. Debra Hoffman Dr. Norman Kettner

Mr. Gregg Hollabaugh

1962

Dr. Joseph Lane Dr. Clay McDonald

Dr. Robert G. Johnson Dr. George Lukovsky Dr. James Gray

Dr. Rick McMichael

1963

Mr. Gary Mohr

Dr. Gerald Kari

Dr. Michael Haydel Dr. Clay McDonald

1967

1983

Dr. Howard Loomis, Jr. 1968

Dr. Mark Napoliello Dr. Brian Snyder

Dr. Andrew Isaacs

1984

1969

Dr. Steven Mirowitz

Dr. Ralph Barrale

1985

Dr. Marc Malon

The Honorable Joshua Peters Mr. Steven Roberts Mr. Roger Schlueter Dr. Judy Silvestrone Dr. Rodney Williams Dr. Kurt Wood

ALUMNI DONATIONS BY GRADUATION DATE 1946

Dr. Naomi Nichols (Estate of) 1949

Dr. Richard Scott Dr. Ralph Geary Dr. Ray Howell 1953

Dr. Edward Glover Dr. William Purser

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LOGAN UNIVERSITY

Dr. Marc Malon 1982

Dr. Rick McMichael

Dr. Anthony Wolf Dr. Jon Buriak

1973

1986

Dr. Lester Holze Dr. Jeffery Sterner (Estate of)

Dr. Robert Kuhn Dr. James Rugenski

1974

1987

Dr. Stephen Dalsing

Dr. Donna Boylan Dr. David Darr Dr. Lynelle Hinden

1972

1975

1952

1981

Dr. Alberto Lopez 1976

Dr. Robert Lynch Dr. Patrick Montgomery Dr. Charles Rawlings

1988

Dr. Peter Feldkamp Dr. Marshall Feldman Dr. Dan Greene Dr. Richard Hilton Dr. M. Kathleen Kuhn


Dr. Charles Price Dr. Alan Wolchansky

FACULTY/STAFF

Ms. Barbara Eckhard

Dr. Ralph Barrale

Mr. Todd Freund

1989

Ms. Judy Benjamin

Ms. Carol Herzog

Dr. Sara Heuser Horn

Mr. Fred Berghaus

Mr. Charles Hite

Dr. Kelly Brinkman

Ms. Roma Karp

Dr. Vincent DeBono

Ms. Anna Lane

Dr. Marcus DeGeer

Ms. Sherri Langston

Ms. Ellen Dickman

Ms. Laura McLaughlin

Dr. Jay Elliott

Mr. Robert Myers

Dr. Lynelle Hinden

Mr. Carl Pallasch

Dr. Brad Hough

Ms. Marty Schoor

Dr. Cheryl Houston

Mr. Robert Snyders

1995

Ms. Ginger Jackson

Dr. Kenneth Teater

Dr. Keith Berger (Estate of)

Dr. Martha Kaeser

Mr. Thomas Wright

1996

Ms. Linda Kenny

Dr. Terry Yochum

Dr. David Poe

Dr. Norman Kettner

1990

Dr. Kelly Brinkman Dr. Jay Elliott 1993

Dr. Carmen Clemenson Dr. Paul Henry Dr. Bradley McMath

1997

Dr. Mary Unger-Boyd 1999

Dr. Brian Walsh

Mr. Adil Khan Dr. Robert Kuhn Dr. M. Kathleen Kuhn Dr. Clay McDonald Dr. Patrick Montgomery

ORGANIZATIONS Commerce Bank Chesterfield Chamber of Commerce Drury Hotels Enzyme Formulations

2000

Ms. Vyvyan Moore

Dr. Rodney Williams

Dr. Kimberly Paddock-O’Reilly

2001

Dr. David Parish

Food Service Consultants Specialized Catering

Dr. Marcus DeGeer Dr. Chris Triantafilou

Dr. Muriel Périllat

Foot Levelers, Inc

Dr. Brian Snyder

Freund & Company

Ms. Stacey Till

Kentuckiana Children’s Center

Dr. Mary Unger-Boyd

Kopytek, Inc.

Mr. Bill Wharton

Michigan Chiropractic Foundation

Dr. Barry Wiese

Missouri Association of Financial Aid Personnel

2003

Dr. Nicole Bennett 2004

Dr. Aaron Wahl

Dr. Alan Wolchansky

2005

Dr. Brian McGaughran 2008

FRIENDS Ms. Mary Jane Bahr

Essential Formulas

Missouri State Chiropractic Association Oasis Investments

Mr. Jeff Barker

Performance Health Inc./The Hygenic Corporation

Ms. Susan Bockstruck

Standard Process

2009

Dr. Boyd Bradshaw

The KEY Company

Dr. Paul Dodson

Mr. Tim Bromberg

Tr,i Architects

2010

Ms. Cheryl Burtle

UHY Advisors

Dr. Justine DeMaio

Mr. Curtis Cassel

VA. Chiropractic Students Assistance Foundation

Dr. Jonathan Dean Dr. Martha Kaeser

Mr. Chuck Drury Ms. Mary Eckhard

Wright Construction Services, Inc 2015-2016 ANNUAL REPORT

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PARENTS Dr. Janet Alvarado Mr. Peter Brick Dr. Mark Bryant Ms. Heather Burns Ms. Rhonda Gillham Ms. Deborah Holmes Dr. Dan Holt Ms. Barbara Hurley Ms. Deanna Mayberry Ms. Lisa Mungenast Mr. Donald Peaslee Ms. Donna Rogers Ms. Donna Skowronski

PRECEPTOR DOCTORS Logan University is grateful to the following Doctors of Chiropractic who hosted student interns through the Preceptorship Program. Students gain invaluable experience from these Doctors in a real-world experience. Dr. John Adams Dr. Stephanie Ahasic Dr. Robert Andel Dr. Bradley Anderson Dr. Craig Anderson Dr. Khonda Andrews Dr. Steven Antoniotti Dr. Alan Arstikaitis Dr. Chad Barnes Dr. Spencer Baron Dr. Kirk Barron Dr. Ashley Battaglia Dr. Breck Beasley Dr. Alan Bee Dr. Lori Bents Dr. Adam Bordes Dr. Louis Boven Dr. Corey Bowden Dr. Shawn Bradley Dr. Clinton Brauchla Dr. Lawrence Bridges

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LOGAN UNIVERSITY

Dr. Jon Brooks Dr. Joan Brower Dr. Sean Caldwell Dr. Stacy Carlin Dr. Dustin Carlson Dr. Sylvie Carpentier Dr. Sean Casey Dr. Michelle Charlton Dr. Adam Cline Dr. Adam Cooper Dr. Nancy Cooper Dr. Brian Corlett Dr. William Cragg Dr. RJ Crandal Dr. Melani Crocker Dr. Jason Crockett Dr. Alisha Davis Dr. Travis DeArmon Dr. Matthew Dirkse Dr. Craig Ditzler Dr. Karin Drummond Dr. Lori Dryer Dr. Erin Ducat Dr. Kelly Dullenty-Wilkerson Dr. Joel Durham Dr. Sid Dyer Dr. Mark Eavenson Dr. Brent Edgerton Dr. Kevin Emery Dr. Matthew Enneking Dr. Kim Etheredge Dr. Christina Faccin Dr. Al Fischer Dr. Oakland Gaerke Dr. Steve Gandee Dr. Tom Gargiula Dr. David Geise Dr. John Gillis Dr. Eric Glass Dr. Timothy Green Dr. Adam Greenlee Dr. Stephanie Halcomb Dr. Jason Hamed Dr. Matthew Hamilton

Dr. Terry Harmon Dr. Mark Haynes Dr. David Heitmann Dr. Lauren Hendrix Dr. Edward Hengel Dr. Jeremy Hess Dr. Mark Hoffman Dr. Darren Holmes Dr. Ryan House Dr. Jeffrey Huck Dr. Scott Huff Dr. Hilary Hushower Dr. Ken Inchiostro Dr. Jennifer Isringhuasen Dr. Kyle Jensen Dr. Darrin Jessop Dr. Martin Jones Dr. Charles Kautz Dr. Daniel Kehres Dr. Felicity Keough Dr. Jason Kestner Dr. Steve King Dr. Joshua Kollman Dr. John Krawchison Dr. James Kreibich Dr. James Kurtz Dr. Stephen Kutscher Dr. Matthew Lane Dr. William Leavitt Dr. Rachel Loeb Dr. Steven Loehr Dr. Jeremy Loney Dr. Terry Marmon Dr. Craig Mattox Dr. Lynette Mayfield Dr. Kris McClusky Dr. Brett McPeak Dr. Deanna Minkler Dr. Gary Mitchell Dr. Terri Monohan Dr. Laura Mooney Dr. Jaban Moore Dr. Travis Morgan Dr. Rodney Nelson


Dr. Robert Newhalfen Dr. Matthew Nicholson Dr. Daniel O’Leary Dr. Rand Olsen Dr. Aki Oshita Dr. Brandon Osmon Dr. Adam Overcast Dr. Jeremy Phillips Dr. Kristen Porlier-Gaines Dr. Jason Powers Dr. Matthew Pramik Dr. Gregory Pursley Dr. Craig Reverman Dr. Ashley Rice Dr. Robert Rice Dr. Michael Rintala Dr. Stacey Rodgers Dr. Todd Rodman Dr. Tom Rohrick Dr. Christian Rosevear Dr. David Russ

Dr. Mary Saale Dr. Christopher Sanders Dr. Stefanie Sanger Dr. Phil Santiago Dr. Brian Schmitta Dr. Mark Schneider Dr. Steve Schoenherr Dr. Jay Schroder Dr. James Sheen Dr. Christopher Shoff Dr. Jennifer Smith Dr. Kanyon Smith Dr. Randy Snyder Dr. Matthew Stewart Dr. Rebecca Sturmer Dr. Michael Sullivan Dr. Ajay Syam Dr. Jakob Taylor Dr. Mike Thompson Dr. Robert Thompson Dr. Marie Timberlake

Dr. Vance True Dr. Joanne Tykeski Dr. Stephen Uhl Dr. Ronda Vanderwall Dr. Tom Vanidestine Dr. Nicole Vlcek Dr. Bradley Walker Dr. Grant Watkins Dr. Jered Wayland Dr. Dean Weich Dr. Jonathon Weimer Dr. Terry Wepner Dr. James Westerman Dr. Jeff Williams Dr. Terry Williams Dr. Brett Winchester Dr. Dana Winchester Dr. Karen Wolstein Dr. Dustin Young Dr. Glen Zielinski

ADMISSIONS REFERRALS

Student referrals are key to Logan’s continued growth and we are deeply grateful to all alumni, faculty, staff, students and friends who have referred students in the past year to Logan in both the College of Chiropractic and College of Health Sciences. Thank you for your trust as we educate the health care practitioners of tomorrow.

2015-2016 ANNUAL REPORT

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LOGAN UNIVERSITY Current as of January 1, 2017

PRESIDENT’S CABINET Clay McDonald, DC, MBA, JD President

BOARD OF TRUSTEES Paul Henry, DC Chair of the Board

Kimberly Paddock-O’Reilly, DHEd, MSW Executive Vice President of Academic Affairs

Richard M. Bruns, DC Vice President of the Board

Ralph Barrale, DC Vice President of Chiropractic and Alumni Relations Brad Hough, PhD Vice President of Information Technology and Strategic Performance Adil Khan, MBA, CPA, CSBO Chief Financial Officer and Vice President of Administrative Services

TRUSTEES

Nicole Bennett, DC Christophe Dean, DC Ronald Grant, DC Allen Hager, DC Gregg E. Hollabaugh Marc G. Malon, DC Rick A. McMichael, DC Gary M. Mohr, MS Roger L. Schlueter Judy M. Silvestrone, DC, MS Rodney F. Williams, DC Steven Roberts, JD, LLM Trustee Emeritus ADVISORY MEMBERS

Donald S. Altman, DDS, DHSc, EdD, MPH, MBA, MA Paul D. Eberline, DC Joseph Lane, DC The Honorable Joshua Peters, MPA Kurt Wood, DC

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LOGAN UNIVERSITY


1851 Schoettler Road | Chesterfield, MO 63017 | 636-227-2100 | Logan.edu 2014-2015 ANNUAL REPORT

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Logan University 2015-16 Annual Report  

The 2015-16 Annual Report for Logan University.

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