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Higher Education by the Numbers
Area colleges balance the books
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Business New Haven
08/04/2003
By: Richard Rangoon
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When people describe New Haven as a "college town," they’re not merely referring to Yale. Indeed, the greater Elm City’s institutions of higher learning do more than build the workforce of tomorrow: They are themselves significant economic drivers.
Here’s a look at how — and how much — they contribute to the region’s economy.
Albertus Magnus College
Albertus Magnus College in New Haven offers both undergraduate and graduate degree programs. Total enrollment is about 2,300, with about 450 traditional day students, 400 enrolled in graduate programs, and about 1,400 in undergraduate adult programs.
The college has 38 full-time faculty, according to college spokeswoman Rosanne Zudekoff.
For academic year 2003-04, tuition for incoming freshmen in the traditional day program is $15,660, while room/board is $7,330, or a total of about $23,500 with fees.
Institution-wide, AMC projects revenues for the 2003-04 academic year of $20.4 million, and has budgeted expenses of $20.38 million. This compares to a 2002-03 budget of $19.48 million in revenues and $19.47 million in expenses, Zudekoff says.
This year, the college’s biggest capital expenditures will be toward a new academic center for science, art and technology on the Prospect Street campus. The $6 million building will add 18,000-square feet for academic programs and is slated to be completed in December 2004. The project is supported by a mix of current funds, capital campaign money, and debt.
For the past year and a half AMC has been debt-free.
Albertus has established a niche in education for working adults, according to Zudekoff.
There are two programs targeted toward this group: the undergraduate
Accelerated Degree Program in AMC’s Continuing Education Division, and the New Dimensions Program which offers undergraduate and graduate degrees in business.
The college offers four graduate programs: Master of Arts in Liberal Studies and Master of Arts in Art Therapy (the only degree of its kind in Connecticut) and, through New Dimensions, a Master of Science in Management and the Master of Business Administration.
Criteria for admission to the traditional day program includes a transcript; letter of recommendation; SAT/ACT; personal statement; any additional information the student chooses to include to support his or her application (for example, writing samples, personal essay, portfolio), Zudekoff said.
The college was founded in 1925 by the Dominican Congregation of St. Mary of the Springs.
Fairfield University
Fairfield University is attended by 5,114 full-time students, including 4,073 undergraduate and 1,041 graduate. It has 223 full-time faculty, according to Martha Milcarek, assistant vice president for public relations.
Tuition for 2003-04 is $26,100, plus $8,920 room and board, 485 fees, and books, transportation and social expenses.
In 2002, the average salary for a full-time professor was $88, 036, Milcarek says.
Fairfield’s budget for the upcoming academic year is $110 million, up from $104 million last year.
The university is in the last year of a $125 million campaign which includes monies for facilities, endowment and the annual fund. About $119 million has been raised to date, Milcarek says.
During the past five years almost $90 million has been spent on capital improvements, including:
Renovations to six residence halls
A 53,000-square-foot addition and full facility renovation to DiMenna Nyselius Library
A 37,000-square-foot addition to the John A. Barone Campus Center
Renovation of Charles F. Dolan School of business
Expansion of the weight and exercise room at Leslie Quick Jr. Recreation Complex
Construction of the Alumni House
Construction of a 192-student apartment complex
Major renovation to Rudolph Bannow Science Center
The improvements are being funded through a combination of campaign gifts and bond money.
The school’s endowment comes from alumni (33 percent), parents (27 percent), friends (16 percent), corporations (12 percent) and foundations (seven percent).
Admission to FU is based on SAT scores, typically in the 1,080-to-1,300 range, strength of high school, essay, extracurricular activities and recommendation letters.
The school is Jesuit.
Southern Connecticut
State University
As of fall 2002, SCSU had a student body of 12,219, making it the area’s largest institution of higher learning. That total included 6,277 full-time undergraduates, 844 full-time graduates, 2,014 part-time undergraduates and 3,044 part-time graduate, says Joe Musante, SCSU spokesman.
Also as of fall 2002, SCSU had 402 full-time professors (not including librarians, counselors and coaches, who are also members of the faculty union) and a number of adjunct faculty members. Hiring for professors in fall 2003 is still under way.
Total cost of attendance for residential students is $19,448. The commuter student total is $12,348, Musante says.
The average salary last year for a professor (full professors, associate professors and assistant professors combined) was $66,561. The range this figure is based on remains the same this year based on a wage freeze Connecticut State University (CSU) faculty agreed to as part of a concession agreement with the state.
SCSU’s 2003-04 budget totals $137.5 million. This encompasses:
$56.6 million for instruction
$1.1 million for research/public service
$13.8 million for academic support and library
$34.2 million for student services, scholarships and loans
$27 million for institutional and physical plant
$4.7 million for capital appropriations
SCSU is currently undergoing a capital improvement program estimated to cost from $230 million to $260 million. The bulk of the project includes building renovation and construction, including the renovation/expansion of Engleman Hall, the university’s main academic building. It also includes construction of a new University Student Center, construction of a new power plant, and renovation/expansion of the Buley Library, Musante says.
A new wing to Engleman Hall was recently completed and includes new offices for faculty members of the English, math, philosophy, psychology and foreign language departments. The wing also includes meeting rooms, mini libraries, study areas and other amenities for each department.
Construction of a new student center has begun and the facility will include several amenities not currently offered at the existing student center. Among them will be a ballroom, movie theater and fitness center, according to Musante.
The capital improvements are being funded predominantly by state bond money.
The book value of the SCSU endowment was about $7.3 million as of June 30, 2002.
The SCSU Foundation raised $1,700,945 in private dollars for 2002-03 — $486,564 of which came from alumni. The alumni participation rate for 2002-03 was almost exactly ten percent, Musante explains.
Government grants for FY 2003 totaled $2,460,168.
Admission to SCSU is dependent on high school grades, class rank, extracurricular activities, faculty recommendations, and SAT scores.
Yale University
Yale University’s enrollment is about 11,270 undergraduate and graduate students, according to university spokeswoman Gila Reinstein.
About 2,375 students attend the Graduate School of Arts & Sciences, while 5,275 are enrolled at Yale College. The remaining students attend the professional schools of architecture, art, divinity, drama, forestry and environmental studies, law management, medicine, epidemiology and public health, music, or nursing.
Total faculty for all schools is 3,050, and virtually all students are full-time.
The market value of Yale’s endowment assets at the end of fiscal year 2002 was $10.4 billion. Total research expenditures, including all restricted and unrestricted funds from all sources were $333 million, while operating expenses were $1.47 billion, Reinstein says.
Tuition for the 2003-04 academic year is $28,000, up from $27,130 last year. Room and board for the current school year is $8,600, up from $8,240 last year.
Total library acquisition expenditures for the 2002 financial year were $29.4 million and more than $200 million of capital projects are under way, Reinstein explains.
Major renovations include:
The scheduled completion of Sprague Memorial Hall and Vanderbilt Hall this month.
The scheduled completion of construction on temporary facilities in Swartwout Hall for the Yale University Art Gallery slated for the beginning of the fall semester.
The overall renovation of the museum will continue for the next two years.
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