The Columbia Chronicle, October 26, 2015

Page 1

Chicago’s Humanities Festival showcases citizenship

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Volume 51, Issue 8

ColumbiaChronicle.com

Columbia professor wins award from CPL for first novel

College’s net revenue continues to decrease CAMPUS EDITOR

during the 2013– 2014 academic year was the lowest it has been since the 2009–2010 academic year, according to the college’s most recent Form 990, an annual financial document nonprofit organizations must submit to the Internal Revenue Service. In addition to the net revenue reduction, salaries and related expenses for college employees saw a decrease. However, at the same time, the college’s payroll rose by more than 150 paid employees as well as by significant raises for some top administrators. The college’s overall revenue increased by approximately $4.5 million, but its total expenses increased as well, resulting in a drop in net revenue—the total revenue minus total expenses. The net revenue was only $6.6 million, down from the $9.9 million reported in the 2012–2013 Form 990. Columbia’s overall revenue increase COLUMBIA’S NET REVENUE

brought the college to more than $261.5 million in proceeds during 2013–2014—its highest revenue increase since 2011–2012. The college concurrently had a declining enrollment, and the Form 990 reports a nearly $5 million decrease in revenue from contributions and grants, but Matt Jaehrling, associate vice president of Business Affairs and Controller, said an increase in revenue came mostly from tuition and fee increases. The Form 990 reported a $5 million decrease in revenue from government grants. Jaehrling said grants received from Gov. Pat Quinn through the Independent Colleges Capital Grant Program were not part of the fiscal year’s contributions to the college, causing the decline. He said the latest installment will appear in the 2014–2015 form. “There were four or five total payments received, and they were staggered over [about five] years,” he said. Revenue increased, as did the college’s total expenses, rising $7.8 million to about $254.9 million.

SEE 990, PAGE 10

» megan bennett

South Loop crawls with creativity during WAC » lauren kostiuk CAMPUS REPORTER

Wabash Arts Corridor Crawl took to the streets of the South Loop and Columbia’s campus Oct. 23 to showcase more than 200 artists, musicians, theatrical performers and dancers during more than 40 scheduled events along Wabash Avenue, Van Buren Street and Roosevelt Road. The WAC, an “urban lab for creative expression, innovation and excellence in the arts” is home to eight educational institutions including Columbia, 12 galleries, 14 performance spaces, six major hotels and more than 40 restaurants and businesses, according to the WAC’s website. Creative bodies in the district and THE THIRD ANNUAL

» SANTIAGO COVARRUBIAS/CHRONICLE

well-known organizations like Chicago Loop Alliance, Willow Chicago, Hilton Hotel and the Jazz Showcase hosted events throughout the WAC. Columbia also hosted several events that celebrated student work and

SEE WAC, PAGE 3

Leah Griffith, a sophomore music major, performs during WAC’s Acoustic Kitchen event at HAUS inside the 623 S. Wabash Ave. Building.

» ALEXANDER AGHAYERE/CHRONICLE

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OCT.

26 2015


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