Stevens Chairman\'s Letter, 2009


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Stevens Chairman\'s Letter, 2009

  1. 1. Chairman’s Letter 2009 Recognition of University Excellence T he year 2008 was one of great Excellence in Information Assurance progress for Stevens. The university Research (CAE-R). The Institute will achieved major national recogni- hold this designation from 2008 to 2013. tion through the designation of Centers of Excellence by agencies of the United As recently as 20 years ago, only 15-20 States government. percent of Stevens’ faculty participated in significant research. By contrast, during Stevens launched its new Systems the past five years, we have pursued a Engineering Research Center (SERC) course of research excellence that has led on November 24. The Department to a jump from about $10 million in of Defense (DoD), awarded Stevens a funded research per year to more thanLawrence T. Babbio Jr. five-year renewable contract to establish $30 million of research funding. We envi-Chairman, Board of Trustees the SERC at its Hoboken, New Jersey sion continued major growth in this area, campus. This is the nation’s only Univer- and Forbes recently ranked Stevens third sity Affiliated Research Center (UARC) in research ROI. focused on systems engineering research. Undergraduate enrollment has more than The Department of Homeland Security- doubled during 10 years and the graduate designated Center for Secure and Resilient population has multiplied in accord with Maritime Commerce will focus on the growth and flourishing of Stevens’ sensors, modeling and analysis to improve graduate programs. Stevens has also maritime domain awareness. The center experienced, in several successive years, will also address marine transportation record-setting graduating classes in both systems designed for the United States graduate and undergraduate areas. that are resilient to manmade and natural threats. The Institute will receive grants of The founding of a distinct School of up to $2 million per year for between four Systems & Enterprises (SSE), led by Dean and six years to research these issues, the Dinesh Verma, has been a signal event in better to protect the US maritime industry. the recent realignment of academic and administrative structures at the univer- Additionally, Stevens was selected by the sity. Adding to SSE’s industry expertise, National Security Agency and the Depart- Virginia Ruesterholz ’83, president of ment of Homeland Security as one of the Verizon Telecom, has agreed to chair the first 23 National Centers of Academic SSE’s illustrious Board of Advisors.THE CHAIRMAN’S LETTER | 2009 STEVENS INSTITUTE OF TECHNOLOGY
  2. 2. Student Life In addition, Randy L. Greene, CPA, hasS been appointed Vice President of Finance, tevens was named the ECAC/Jostens CFO and Treasurer. Greene, who has an Institution of the Year for 2008. The award MBA in accounting and finance from the is given annually to a college or university, Johnson Graduate School of Managementencompassing NCAA Divisions I, II and III, at Cornell University, has more than 25that best combines outstanding athletic years of professional experience in public,achievement with outstanding academic private and not-for-profit organizations. Randy L. Greene, cpaachievement. This extraordinary recognition He began his higher education career atof our athletics programs and of our students Cornell University where he held various positions in account-as premier scholar-athletes places Stevens in ing, financial affairs, treasury and sponsored research manage-the company of Harvard, Princeton, ment, culminating in the position of controller at Cornell’sWilliams and Georgetown, all past Jostens Award winners. Weill Medical College in New York City. Since 2000, GreenePresident Raveché, Vice President Maureen Weatherall was the Assistant Vice President for Finance and Universityand Director of Athletics Russ Rogers were on hand to accept Controller at New York University, where he improved thethe award in Albany, September 28 at the ECAC Jostens systems, structures and culture of the accounting and financialaward ceremony. compliance operations of the university. Now celebrating its 10th anniversary, Veteran technologist and pioneering the DeBaun Center for Performing researcher Dr. Joseph Mitola III was Arts has become a true New York- recently appointed Stevens’ Vice President Metropolitan area cultural center, for the Research Enterprise. Mitola alsobringing people to campus and adding to campus life. Thanks will serve as a Distinguished Professor,to a generous gift from Ken DeBaun ’49 and his wife Grace, holding a joint appointment at the Schaeferthe theater is a thriving, cultural hub and community resource, School of Engineering and Science and theoffering classes, workshops, presentations, special events and Dr. Joseph Mitola III School of Systems and productions throughout the year. In his new role as VP for the Research Enterprise, Mitola will be responsible for promoting large-scale, cross-disciplinary researchInstitutional Profile initiatives among Stevens’ diverse research centers, laboratoriesStevens’ overall ranking in the newest US News & World and contract research projects.Report and Princeton Review surveys remained essentially thesame, although the slight drop in the US News placement Professor Ralph Giffin will serve aswas a disappointment. This was mainly due to a clustering Director of Business Operations in theof institutions in the numbers 65-85 range, with very little School of Systems and Enterprises,statistical difference between them, causing individual managing the day-to-day financialinstitutions to move up and down based on relatively minor operations of the school. Giffin alsostatistical changes. The rankings also relate to Stevens’ 2006- holds the position of Associate Provost,07 academic year, and thus do not reflect several of our most Graduate Programs Enterprise. Ralph Giffinimportant successes, including the DHS award and ECACJostens Institution of the Year Award, which occurred in the Dr. Christos Christodoulatos has beenjust-completed 2007-08 year. appointed to the position of Associate Provost for Academic Entrepreneurship. He will work closely with the academicNew Appointments deans to advance the goals and objectivesIn February 2008, Fred Regan was appointed Vice President of the Technogenesis® environmentof Advancement, the most senior fund raising executive at at Stevens, and the other goals and Stevens, reporting directly to the president. Dr. Christos objectives in the university’s Strategic Vice President Regan will lead the Office Christodoulatos Positioning Plan. He will mentor both of Advancement and is responsible regular and research faculty on issues of for the entire fund-raising staff and entrepreneurship, intellectual property, innovation, creativity programs, including communications and and market value of research outcomes. Christodoulatos will relationship development with individual also work closely with faculty and students to ensure the and corporate donors and prospects, as transformational success of the Technogenesis culture throughout well as foundations. the student body and undertake initiatives that instill in studentsFred Regan both creative thinking and an entrepreneurial spirit.THE CHAIRMAN’S LETTER | 2009 STEVENS INSTITUTE OF TECHNOLOGY
  3. 3. Financial Summary FISCAL YEAR 2006 2007 2008 2009 (budget) Operating Revenues Net Tuition $ 61,596,812 $ 68,733,466 $ 82,359,718 $ 96,977,493 Research 27,287,607 29,504,740 28,309,403 30,300,000 Contributions & Grants 8,529,432 5,729,028 4,341,453 4,900,000 Auxiliary 12,838,812 14,083,225 16,499,164 17,181,237 Endowment Distribution 5,303,331 4,880,139 5,562,100 5,475,492 Other 2,676,152 3,780,047 2,719,673 1,562,000 Total Revenues $ 118,232,146 $ 126,710,645 $ 139,791,511 $ 156,396,222 Operating Expenses Salaries & Benefits $ 77,937,203 $ 80,782,969 $ 86,142,102 $ 95,522,658 Materials, Services & Other 46,594,645 43,188,691 44,071,001 49,261,348 Interest 1,205,387 3,018,256 3,197,385 4,572,216 Depreciation & Amortization 4,617,447 6,310,301 7,478,045 7,040,000 Total Expenses $ 130,354,682 $ 133,300,217 $ 140,888,533 $ 156,396,222 Net Operations $ -12,122,536 $ -6,589,572 $ -1,097,022 $0At the same time as we have Actual Net Operations 2006-2008strengthened our enrollment and with 2009 Projectionsresearch, we have strengthened ourbudgeting and internal controlsto place us on a course to balancethe budget for fiscal 2009.THE CHAIRMAN’S LETTER | 2009 STEVENS INSTITUTE OF TECHNOLOGY
  4. 4. NON PROFIT ORG US POSTAGE PAID HOBOKEN, NJ PERMIT NO. 4Castle Point on HudsonHoboken, New Jersey 07030 relevant areas will add both to Stevens’ financial engine and to the university’s prestige on a national and global scale. Stevens Institute of Technology can serve as an inspiration to academics, technologists and entrepreneurs at home and abroad, and a model institution for higher learning into the future. It is the technological university that measures the Looking Forward pulse of the global economy and in turn prepares young lead- S tevens is on the threshold of a new and exciting ers who are a match for the challenges of the 21st century. period of growth and achievement based on our new alignment of education and research priorities and It is our duty as members of the Stevens community to a renewed dedication to the visionary stewardship of our preserve, strengthen and grow this phenomenal institution, university’s founders. which comes down to us as a legacy from one of our nation’s founding families. I personally pledge myself to The development and execution of sound strategic plans the task, and I encourage you to join me as we meet the by the leadership within the Stevens community will challenges ahead. make Stevens the go-to university for government and major industry. Stevens continues to be recognized as a leader in the areas of systems, enterprise and technology management, security technologies and multi-scale engineering — areas critical to the advanced economies of the 21st century. The increased external research funding Lawrence T. Babbio Jr. that will result from Stevens’ initiatives in these ultra- Chairman, Board of Trustees THE CHAIRMAN’S LETTER | 2009 STEVENS INSTITUTE OF TECHNOLOGY