In this third installment (part one & two here) of my series on Cedarville University’s finances I want to compare our revenue & expenses with that of our sister schools. Again we’ll look at the 2006-2007 school year, and keep in mind that everything is adjusted for inflation.
As you can see in this chart CU is definitely in the black, but only 5% of its revenue is profit whereas on average most of these schools net 11% of their revenue. It looks like Gordon’s losses are an exception, whereas Grace seems to typically struggle to stay in the black — 2001-2004 were also red years, including a -$600k deficit in ’01-’02.
It’s also interesting to look at these numbers in terms of enrollment.
“Expenses/person” describes how much it costs for the school to host/teach each student; ie, with all our facilities, professors, technology, etc it costs, on average, CU almost $27k for one kid to attend — but they only charge $24.4k. So if you want, you could say that nine of the schools here give you great value for your money (major assumption: the school manages its income well).
The “Revenue/person” column is a reflection of how the school makes money: student costs + donations +investments + government support. Including the ’07-’08 year, donations at CU are down 22.3% since ’02-’03, but we’re trend upwards again. In the year we’ve been focusing on (’06-’07), Cedarville pulled in slightly over $7M (thanks to people like my friend Dave who calls alumni non-stop begging for gifts). This seven million made up 8.2% of CU’s gross, which is typical for the last few years here at CU, but well under the mean/median of 15.1/13.7% among these other schools. By this measurement, the most healthy of these schools is John Brown University, which received 40.4% of its gross from donations (Anderson University was doing very well too, at 32.3%).
Also, note the small irony of CU’s populace largely composed of government-hating conservatives & libertarians yet nevertheless attending a school that is afloat thanks, in part, to the ~$1.6M we receive annually from Uncle Sam.