EXPANDING OUR SCOPE DREXEL UNIVERSITY PRESIDENT’S REPORT 2013 EXECUTIVE COUNCIL TRUSTEES OF THE UNIVERSITY John A. Fry President Domenic Ceccanecchio Vice President, Public Safety Mark L. Greenberg, PhD Provost and Senior Vice President, Academic Affairs Jeff Eberly Vice President, Finance and Associate Treasurer, Drexel University, and Associate Dean, Financial Affairs, College of Medicine Susan C. Aldridge, PhD Senior Vice President, Online Learning and President, Drexel e-Learning Helen Y. Bowman Senior Vice President, Finance, Treasurer and CFO Lori N. Doyle Senior Vice President, University Communications Rose Martinelli Interim Senior Vice President, Enrollment Management Keith A. Orris Senior Vice President, Corporate Relations and Economic Development Daniel V. Schidlow, MD Dean and Senior Vice President, Medical Affairs, College of Medicine Louis Bellardine Vice President, Human Resources John A. Bielec, PhD Vice President, Information Resources and Technology Amy A. Bosio Vice President, Financial Planning and Student Financial Services Ana Diez Roux, MD, PhD Dean, School of Public Health Gloria F. Donnelly, PhD Dean, College of Nursing and Health Professions Edward G. Longazel Vice President and Chief Compliance and Privacy Officer David E. Fenske, PhD Dean, College of Computing and Informatics Services Catherine Ulozas Vice President, Investments David E. Wilson Vice President, Government and Community Relations John Zabinski Vice President, Institutional Advancement, College of Medicine Janice Biros, EdD Senior Vice Provost, Budget, Planning, Administration Deborah Crawford, PhD Senior Vice Provost, Research James R. Tucker Senior Vice President, Student N. John DiNardo, PhD Senior Vice Provost, Life and Administrative Academic Affairs Services George W. Gephart Jr. President and Chief Executive Officer, Academy of Natural Sciences of Drexel University Roger J. Dennis, JD Dean, School of Law Robert Francis, EdD Vice President, University Facilities Rosalind Remer, PhD Michael J. Exler, JD Vice President and Executive Senior Vice President, General Director, Office of the Counsel and Board Secretary President Peter Frisko James Seaman, PhD Interim Senior Vice President, Vice President, Internal Audit Institutional Advancement and Management Consulting Brian T. Keech Senior Vice President, Government and Community Relations Donna DeCarolis, PhD Dean, Close School of Entrepreneurship Peter J. Franks Vice Provost, Career Education Mark Freeman, PhD Vice Provost, Institutional Research, Assessment and Effectiveness Janet Fleetwood, PhD Vice Provost, Strategic Development and Initiatives Lucy Kerman, PhD Vice Provost, University and Community Partnerships Julie Mostov, PhD Vice Provost, Global Initiatives Joseph Hughes, PhD Dean, College of Engineering D.B. Jones, PhD Dean, Pennoni Honors College Frank Linnehan, PhD Dean, LeBow College of Business William F. Lynch, PhD Dean, School of Education, and Interim Dean, Goodwin College of Professional Studies Donna Murasko, PhD Dean, College of Arts and Sciences Allen Sabinson Dean, Westphal College of Media Arts & Design Banu Onaral, PhD Director, School of Biomedical Engineering, Science, and Health Systems Mary Moran, MD Vice Dean, Faculty Affairs and Professional Development, College of Medicine Claire Tillman Associate Dean for Administration, Chief of Staff, College of Medicine Danuta Nitecki, PhD Dean, University Libraries David A. Ruth, PhD Dean of Students Ludo Scheffer, PhD Chair, Faculty Senate David Flood, PhD Ombuds Eric Zillmer, PsyD Athletic Director Renee J. Amoore Paul (Mel) Baiada ’82, ’85 Sally J. Bellet, Esq. Gregory S. Bentley Carl M. Buchholz, Esq. Robert R. Buckley ’58, HD ’12 Randall S. Burkert ’82 R. John Chapel ’67 Hon. Ida K. Chen Kathleen P. Chimicles ’83 Abbie Dean ’07 Nicholas DeBenedictis ’68, ’69, HD ’87 Richard J. DePiano ’64 Gerianne Tringali DiPiano Domenic M. DiPiero III Robert J. Drummond ’66 Brian R. Ford John A. Fry** Sean J. Gallagher ’93 Richard A. Greenawalt ’66* Richard A. Hayne Cynthia P. Heckscher Mary R. (Nina) Henderson ’72 Richard C. Ill ’73 Patricia H. Imbesi ’69 Joseph H. Jacovini, Esq., HD ’04 Alan C. Kessler, Esq. Thomas R. Kline, Esq. Joel M. Koppelman ’70 J. Michael Lawrie ’77 Raphael C. Lee ’75 Robert J. Lewis Robert J. Mongeluzzi, Esq. Denis P. O’Brien ’87 C.R. (Chuck) Pennoni ’63, ’66, HD ’92 D. Howard Pierce ’71 Charles P. Pizzi Robert F. Powelson Michael A. Rashid William T. Schleyer ’73, HD ’06 Nicholas S. Schorsch Stephen A. Sheller, Esq. Stanley W. Silverman ’69, ’74 Manuel N. Stamatakis, HD ’05 Ira M. Taffer ’79, ’83 Charles K. Valutas ’73 Michael J. Williams ’80, ’83 *Chairman **President PRESIDENT’S MESSAGE A CONTENTS 2 STUDENTS STUDENT SNAPSHOT 4 ACADEMICS AND RESOURCES FACULTY ACADEMIC ENTERPRISE LEARNING SPACES 8 EXPERIENTIAL LEARNING AND STUDENT LIFE THE DREXEL CO-OP STUDENT SERVICES AND ENGAGEMENT 12 RESEARCH AND INNOVATION RESEARCH ENTERPRISE TECHNOLOGY COMMERCIALIZATION GLOBAL PARTNERSHIPS 16 LOCAL IMPACT CIVIC ENGAGEMENT ECONOMIC DEVELOPMENT NEIGHBORHOOD INITIATIVES 18 SUPPORT AND FINANCES CAMPAIGN AND FUNDRAISING CORPORATE AND FOUNDATION SUPPORT ALUMNI PROFILE FINANCIALS n annual report is by nature a chronicle of change. What makes me especially proud of Drexel is that our biggest transformations flow from the constants of our institutional character, the things that have made Drexel unique for well over a century. Drexel students are self-directed, ambitious and intent on gaining real-world experience as a pathway to leadership. We’re helping them build on those traits through a Universitywide focus on entrepreneurship, most directly manifested in the new Charles D. Close School of Entrepreneurship. Our innovative, engaged faculty are focused on impact. We continue to foster their work through new interdisciplinary research institutes in fields like energy and the environment and cybersecurity. We’ve also developed new vehicles like Drexel Ventures to leverage the clinical and commercial potential of Drexel-created technologies. The advantages and challenges of being an urban university are part of Drexel’s core, and we’re helping strengthen nearby neighborhoods that have been too often neglected. Our strategy includes not just robust collaborative initiatives like the Dornsife Center for Neighborhood Partnerships, but a hard look at how Drexel affects the community through operations like student housing. At the same time, we’re developing 12-plus acres of underutilized land near Amtrak 30th Street Station into an “Innovation Neighborhood” that will help put Philadelphia on an equal footing with the nation’s best technology commercialization centers. Even as we celebrate our achievements, a relentless drive for excellence and relevance is also part of Drexel’s DNA. We face rising challenges like increasing the affordability of a Drexel education while continuing to invest in academic quality and student aid and retention. Fortunately, our culture of innovation and collaboration is ideally suited to meeting any challenge, and I look forward to what we will accomplish together as an institution. Sincerely, John A. Fry President ONLINE: drexel.edu/Report2013 STUDENTS At the center of everything Drexel does is one fundamental relationship, between the University and our students. Their talents inspire us; their educational needs drive our decisions. 0.0 13620 MEDICINE 26,132 STUDENTS 27000 26,132 UP 21.3% SINCE 2008 21,537 27000 18000 Total students online part-time undergraduate full-time Total students 9000 9000 2008 0 2013 16,616 undergraduate 8,041 graduate 1,475 professional 6810 apps for new class 2008 0 2013 LAW 2 0,945 traditional classroom 5,187 Drexel University Online 143 FIRST-YEAR LAW STUDENTS FROM 22 STATES STUDENT SNAPSHOT 0 43945.0 FALL 2013 FIRST-YEAR STUDENTS SCHOLARS 7 FULBRIGHT SCHOLARS 43,945 21972.5 HIGH SCHOOL MOST IN DREXEL HISTORY 43945.0 33% IN TOP 10% OF CLASS 61% IN TOP QUARTER apps AVERAGE for new class GPA 3.45 4 GOLDWATER SCHOLARS apps for new class 13% UNDERREPRESENTED MINORITY STUDENTS MOST IN THE NATION WITH ALL FOUR DREXEL NOMINEES RECOGNIZED FOR THE FIRST TIME 9 INSTITUTE OF ELECTRICAL AND ELECTRONICS ENGINEERS POWER AND ENERGY SOCIETY SCHOLARS 21972.5 21,454 0.0 2008 2013 43,945 APPLICATIONS 0.0 13,620 APPLICATIONS traditional classroom 1 8,909 full-time 7,223 part-time A RECORD FIRST COHORT UNDER NEW PARTNERSHIP WITH KAISER PERMANENTE graduate 18000 12,005 259 NEW MEDICAL STUDENTS 12 STUDENTS IN CLINICAL ROTATIONS IN NORTHERN CALIFORNIA professional 13,620 13620 FOR A CLASS OF 3,039 195 LIBERTY SCHOLARS UP FROM 10% IN 2012 PHILADELPHIA HIGH SCHOOL GRADUATES WITH ECONOMIC NEED OFFERED FULL TUITION AND FEES TO ATTEND DREXEL 18% INTERNATIONAL UP FROM 14% IN 2012 FROM LIBERTY SCHOLARS ON CAMPUS: 20102011 2012 2013 S INENT T 6 CON 50 100150195 13620 MILITARY 635 VETERAN STUDENTS 6810 apps for newINSTITUTIONAL class 94% RECEIVED GRANTS OR SCHOLARSHIPS NAMED A “MILITARY FRIENDLY SCHOOL” FIVE YEARS IN A ROW BY VICTORY MEDIA 6810 apps for new class 0 2 STUDENTS DREXEL UNIVERSITY PRESIDENT’S REPORT 2013 3 ACADEMICS AND RESOURCES Drexel continues to build new intellectual and educational capacity that inspires our teaching and scholarship. We call that work “Transforming the Modern Urban University.” ACADEMIC ENTERPRISE 867 1,525 2013 FULL-TIME FACULTY 2008 FACULTY CLOSE SCHOOL OF ENTREPRENEURSHIP •Integrating innovation into curricula University-wide •Developing residential and co-op programming around entrepreneurship •Creating new degree programs 100 NEW TENURE-TRACK RESEARCH FACULTY LINES BEING CREATED BY 2017 “As we apply knowledge and skill to solve problems that beset humanity, that’s what we call ‘Thinking Forward.’” Mark L. Greenberg, Drexel’s provost, leads a faculty that strives to connect its work to real-world challenges. Every day is a new opportunity for Drexel University to find viable solutions to society’s greatest problems. The University’s best and brightest join in unique collaboration to destroy boundaries, blaze new paths and give legs to new ideas. 5 NEW NATIONAL SCIENCE FOUNDATION CAREER AWARDS RECOGNIZING JUNIOR FACULTY (ESPECIALLY WOMEN AND MINORITIES) FOR OUTSTANDING TEACHING AND RESEARCH ANDREA FORTE, COLLEGE OF COMPUTING & INFORMATICS, for a project on design of participatory information environments to allow assessment of information quality and encourage contributions 5 NEW ACADEMIC UNITS RACHEL GREENSTADT, COLLEGE OF ENGINEERING, for work focusing on Internet privacy and the rise of big data by the quality and capacity and the excellence of your faculty.” John A. Fry, Drexel’s president, knows that Drexel relies for its reputation on its faculty — who are experts in their fields and consistently excellent in research, teaching and service. Drexel continues to attract new talent with an entrepreneurialminded, real-world focus who add a new dimension to an already robust faculty body. JENNIFER RODE, COLLEGE OF COMPUTING & INFORMATICS, for a project on gender-equity issues in the design of human-computer interaction CENTER FOR HOSPITALITY AND SPORT MANAGEMENT •Reflects growing importance of tourism and leisure locally and nationally •Expresses Drexel’s commitment to economic impact ALEKSANDRA SARCEVIC, COLLEGE OF COMPUTING & INFORMATICS, for an investigation into how to develop real-time information displays supporting fast-response, interdisciplinary medical teams 4 COMMUNITY COLLEGE NETWORK SITES ACADEMICS AND RESOURCES BURLINGTON COUNTY COLLEGE Northampton Community College DELAWARE COUNTY COMMUNITY COLLEGE MONTGOMERY COUNTY COMMUNITY COLLEGE Montgomery County Community College Delaware County Community College PENNSYLVANIA Main Campus, Philadelphia 4 SCHOOL OF ECONOMICS •In LeBow College of Business •Faculty leaders in international trade, industrial economics and more •New MS and BA programs GRADUATE SCHOOL OF BIOMEDICAL SCIENCES AND PROFESSIONAL STUDIES •In College of Medicine •Innovative, cross-disciplinary masters, PhD and certificate programs •Builds on history of excellence in scientific training programs M. ANI HSIEH, COLLEGE OF ENGINEERING, for research into how fluid dynamics affect unmanned underwater robotic vehicles “You are known “Just imagine you create something, and some student is being helped by it. It’s been a great experience. And it’s been very impactful to me.” COLLEGE OF COMPUTING & INFORMATICS •Leveraging and aligning University-wide strengths •Uniting programs from three colleges •11 NSF CAREER award recipients Burlington County Community College NORTHAMPTON COMMUNITY COLLEGE That’s what Christopher Gray told USA Today about the experience of developing Scholly, his mobile app for scholarship searches that has been downloaded more than 40,000 times since its launch. As part of Drexel’s groundbreaking entrepreneurship co-op through the Close School of Entrepreneurship, Gray received funding, mentorship and space in the Baiada Institute for Entrepreneurship to further develop Scholly. The app lets high school and college students easily search for scholarships they didn’t even know they could apply for, which is something Gray wished he could have used when he found $1.3 million in scholarship money in high school. Now the junior business student with an entrepreneurship concentration is using the skills he developed at Drexel to build his startup. Scholly was named one of the top 20 local up-and-coming startups by Philadelphia magazine and has received notice from Forbes, U.S. News & World Report, The Philadelphia Inquirer and local television and radio. NEW JERSEY DREXEL UNIVERSITY PRESIDENT’S REPORT 2013 5 LEARNING SPACES Drexel continues to define a new set of intellectual and physical environments that inspire our scholarship, service and innovation. We call that work “Transforming the Modern Urban University.” 2 MAJOR LEARNING, TEACHING AND RESEARCH RESOURCES GERRI C. LEBOW HALL, HOME TO LEBOW COLLEGE OF BUSINESS •Opened October 2013 •$92 million project inspired by Bennett S. LeBow’s $45 million gift •12 stories, 177,500 square feet, 15 new classrooms 4 NEW OR RENOVATED ACADEMIC CENTERS ExCITe CENTER, for high-tech collaborations between STEM disciplines and the arts and design RESEARCH COMPUTING CO-LOCATION CENTER, providing high-power resources for investigators STRATTON HALL, NEW HOME FOR PSYCHOLOGY DEPARTMENT •Renovations completed in November 2013 •Psychology Department faculty in a single location for the first time •Heart of collaborative research featuring Arts and Sciences, Medicine and more THREE PARKWAY, NEW CENTER CITY SPACE FOR COLLEGE OF NURSING AND HEALTH PROFESSIONS •186,000 square feet (five stories of 20-story tower) •Research, instructional and administrative space •Expands Drexel’s presence on Benjamin Franklin Parkway (begun with Academy of Natural Sciences merger) NESBITT HALL, NEW HOME FOR SCHOOL OF PUBLIC HEALTH •Renovations completed in December 2013 •Faculty and students moved to University City Campus •Project funded by Drexel and Pennsylvania’s Campus Energy Efficiency Fund Music Hack Day, ExCITe Center 6 ACADEMICS AND RESOURCES DREXEL UNIVERSITY PRESIDENT’S REPORT 2013 7 EXPERIENTIAL LEARNING AND STUDENT LIFE At Drexel, classroom learning builds on a foundation of on-campus enrichment and real-world professional experience. Our attention to those areas is what sets a Drexel education apart. 97.6% SUCCESS RATE FOR STUDENTS SEEKING CO-OP EMPLOYMENT $1MILLION IN STIPENDS “I’m really glad I did it, because I was surrounded by artistic individuals who looked at design with an entirely different eye, giving me a different perspective on the way I created things.” Rachel Young, a 2013 graduate, thanks Drexel’s Westphal College of Media Arts & Design for the tools she needed to qualify for a co-op with Marvel Entertainment, the comic book creators behind Spider-Man and Ironman. She said of her training at Westphal: “The program teaches you everything — the design parts and the programming parts — and then lets you decide which path you want to follow.” FOR NONTRADITIONAL CO-OP OPTIONS INCLUDING INTERNATIONAL, RESEARCH, NONPROFIT AND ENTREPRENEURIAL EXPERIENCES 2008-091,342 NT S ES DE TRI UN 2007-081,310 2007-082364 2009-101,410 2008-092589 2010-111,420 2009-103383 2011-121,503 2012-131,650 “Connecting the culture from the United States and the culture from Asia was really interesting, and helped me understand how people did business.” STU IN 2012-13 CO 5,261 CO-OP PLACEMENTS INTERNATIONAL CO-OP EM P U.S. CO-OP LO YER S THE DREXEL CO-OP Will Heyman wanted an international experience before he graduated, and was able to travel to Malaysia for six months of professional experience at a digital marketing company in Kuala Lumpur. Heyman, a senior communication major focusing on corporate public relations, worked closely with Drexel’s Steinbright Career Development Center to make his co-op experience happen. He received funding from the Freeman Foundation, which partners with Drexel to support undergraduate co-ops in East and Southeast Asia. 2010-1136106 2011-1240121 2012-1349161 = 20 students STUDENT: 90.2% 73.3% “co-op met or exceeded my expectations” “would return to employer for another co-op or full-time position” 88.2% “found co-op relevant to my career objectives” EMPLOYER: 87.3% “would consider my co-op student for full-time position” 94.7% “found student academic preparation oriented to my needs” 82.6% “rated student performance as good or excellent” 8 EXPERIENTIAL LEARNING AND STUDENT LIFE DREXEL UNIVERSITY PRESIDENT’S REPORT 2013 9 STUDENT SERVICES AND ENGAGEMENT STUDENT ORGANIZATIONS 6,949 students in 345 orgs, 33 new for 2013 “There are over 300 student organizations at Drexel — cultural organizations, organizations that pertain to certain majors, general interest organizations. Really, whatever your interest is, there’s a club for it, and if there isn’t then it’s super-easy to start one. ” STUDENT HEALTH CENTER 10,032 visits COUNSELING CENTER 1,443 students seen, 124 workshops hosted INTERNATIONAL STUDENTS AND SCHOLARS SERVICES 3,530 students from 115 nations 4,606 STUDENTS 942,000 SQ. FT. OF NEW HOUSING AND RETAIL CHESTNUT SQUARE •Developed and operated by American Campus Communities (ACC) •$97 million, 19-story, 361,000-square-foot project •Residential tower for 860 students •Street-level retail including restaurants, art supply, banking, new bookstore space LANCASTER AVENUE AND 34TH STREET •Next partnership with ACC, ground broken November 2013, opening fall 2015 •$170 million, 581,000-square-foot, 24-story project, largest in Drexel and ACC histories •Apartments and suites for 1,300 students •20,000 square feet retail anchoring revitalized Lancaster Avenue corridor 2 NEW STATE-OF-THE-ART CENTERS SERVING STUDENTS IN ON-CAMPUS HOUSING FOR RESIDENT SATISFACTION (EBI SURVEY) 3 CHAMPIONSHIP FIRSTS FOR DREXEL ATHLETICS EXPERIENTIAL LEARNING AND STUDENT LIFE •Women’s basketball wins WNIT Championship, first national postseason championship for a Philadelphia Division I women’s team •Drexel crew wins Aberdeen Dad Vail Regatta team title, plus men’s points trophy and varsity eight gold •Men’s soccer wins first-ever CAA tournament championship, makes consecutive NCAA tournaments for first time DREXEL CENTRAL •A “one-stop” customer service center for registration and financial questions, in person, by phone or online STUDENT HEALTH CENTER •A state-of-the-art physician practice serving Drexel students and employees PATH TO THE WNIT CHAMPIONSHIP 10 RESIDENT ASSISTANTS RANKED TOP 10% NATIONALLY Taylor Collins ’15, a College of Nursing and Health Professions student, serves as student government vice president and also chairs the Recognition Committee that helps students establish new organizations. Drexel’s comprehensive and award-winning Student Affairs program is overseen by a professional staff of 83 working with more than 500 interns and students. From residential living to campus activities, from counseling to tutoring to student health, from athletics to fraternity and sorority life to international scholar support, Student Affairs creates a winning experience for students. MARCH 21, 2013 DREXEL 59, IONA 50 DASKALAKIS ATHLETIC CENTER (DAC), PHILADELPHIA MARCH 23, 2013 DREXEL 82, HARVARD 72 DAC, PHILADELPHIA MARCH 30, 2013 MARCH 28, 2013 DREXEL 50, BOWLING GREEN 47 DREXEL 56, AUBURN 43 AUBURN ARENA, AUBURN, ALA. STROH CENTER, BOWLING GREEN, OHIO APRIL 3, 2013 DREXEL 67, FLORIDA 57 DAC, PHILADELPHIA APRIL 6, 2013 DREXEL 46, UTAH 43 DAC, PHILADELPHIA DREXEL UNIVERSITY PRESIDENT’S REPORT 2013 11 RESEARCH AND INNOVATION Universities represent the nexus of the forces— education, collaboration and discovery—necessary to meet the challenges facing society. Drexel has made it a strategic priority to harness those forces to improve quality of life for all. RESEARCH ENTERPRISE Y TR US IND $111 MILLION IN RESEARCH EXPENDITURES ©Ted Daeschler/ Academy of Natural Sciences/VIREO STA TE AN DL OC AL PRIVATE A N D FOUNDA TIONS 200 YEARS 4 A.J. DREXEL INSTITUTES 200 2 FEDERAL FOSTERING CROSS-DISCIPLINARY RESEARCH IN CRITICAL AREAS 200 A.J. DREXEL PLASMA INSTITUTE 201 A.J. DREXEL NANOMATERIALS INSTITUTE 3 2 201 3 CELEBRATED AT THE ACADEMY OF NATURAL SCIENCES OF DREXEL UNIVERSITY A.J. DREXEL AUTISM INSTITUTE A.J. DREXEL INSTITUTE FOR ENERGY AND THE ENVIRONMENT RESEARCH FUNDING BY SOURCE FEDERAL............... $88.5M PRIVATE AND FOUNDATIONS ..... $10.5M “We think of it as irreversibly destroying the virus. That aspect makes it unique. We don’t want to render the virus simply un-infectious. We want to irreversibly destroy it.” Cameron Abrams of Drexel’s College of Engineering and Irwin Chaiken of the College of Medicine are working on novel approaches to the treatment of AIDS. The researchers have designed a new molecule called DAVEI that attaches itself to the AIDS virus and triggers its destruction. The molecule is one of a number of promising compounds designed to inactivate HIV that the investigators are exploring with a $1.1 million National Institutes of Health grant. STATE AND LOCAL.................... $7.5M INDUSTRY.............. $4.6M The DAVEI molecule is comprised of two main pieces: Membrane Proximal External Region, which attaches to the viral membranes, and cyanovarin, which binds to the sugar coating of the virus’s protein spike. Once DAVEI attaches to HIV, the virus is fooled into thinking it is bound to its human cell target, and it releases its infectious payload harmlessly. 30 PROJECTS LICENSED OR UNDER DEVELOPMENT VIA COULTER FOUNDATION RESEARCH PARTNERSHIP; EXAMPLES INCLUDE: •The Belly Band project, which provides comfortable wireless monitoring for women in labor utilizing integration of electronics into fabric in new ways •A tumor margin detection project, licensed to MarginSurgical, that allows surgeons to assess in the operating room whether tumors have been completely removed. 1,400 RESEARCH PROJECTS INVOLVING HUMAN SUBJECTS NOW OPERATING UNDER FULL AAHRPP ACCREDITATION, INDICATING THE HIGHEST STANDARDS OF HUMAN SUBJECT PROTECTION IN CLINICAL RESEARCH 12 RESEARCH AND INNOVATION “How do we take advantage of these great opportunities for us to kick the tires of our robots? That is something that we want to continue doing.” Paul Oh of the College of Engineering was speaking about the work of a Drexelled team that joined 17 others from around the world in the DARPA Robotics Challenge, a first-of-its-kind event showcasing the current state of disaster-response robotics. Drexel’s HUBO robot was literally put to the test with tasks ranging from driving a utility vehicle to climbing a ladder. HUBO didn’t win this challenge, but robotics research continues at Drexel to ensure the University remains a leader in the field. DREXEL UNIVERSITY PRESIDENT’S REPORT 2013 13 invention licensing TECHNOLOGY 0 0 150150 300300 COMMERCIALIZATION 450450 GLOBAL PARTNERSHIPS Patent 2003-05 24 HEBREW UNIVERSITY RESEARCHERS JOINING CHILDREN’S HOSPITAL OF PHILADELPHIA AND DREXEL INVESTIGATORS 2011-13 Inventions 0 150 450 invention 424 AT A SYMPOSIUM TO BRAINSTORM PEDIATRIC RESEARCH BREAKTHROUGHS 16 Patents 109 150 300 424 INVENTIONS, 109 U.S. PATENTS 17 73 0 SINCE 2011 150 0 450 CELEBRATING ONE YEAR OF PARTNERSHIP WITH THE SHANGHAI ADVANCED RESEARCH INSTITUTE up 450startlicensing 300 73 COMMERCIALIZATION AGREEMENTS INCLUDING 6 Startups 100 RESEARCHERS FROM ASIA, EUROPE AND THE U.S. AT THE FIRST DREXEL-SARI INTERNATIONAL SYMPOSIUM IN SHANGHAI Patent 0 Licensing Agreements 300 152 14 HIGHLIGHTS OF INTERNATIONAL UNIVERSITY PARTNERSHIPS 14 STARTUP COMPANIES 300 450 150 BASED ON DREXEL TECHNOLOGIES MIDDLESEX UNIVERSITY, LONDON UNIVERSITY OF LEEDS UNIVERSITY OF SHEFFIELD Patent 0 $400,000 0 IN INAUGURAL PROOF-OF-CONCEPT FUNDING FROM DREXEL VENTURES FOR: 0 0 • Thin-film photovoltaic materials, developed by Jonathan Spanier Engineering, could improve 150 of the College of300 450 solar energy performance start up •A new drug therapy for Parkinson’s disease, led by Sandhya Kortagere of the College of Medicine, aims to invention eliminate side effects 150 300 450 •“Plasma acid,” a project of Alex Fridman and Alex Rabinovich of the A.J. Drexel Plasma Institute, may lead to a less environmentally harmful way to extract oil from the ground •A150 system that monitors software component interac300 450 tion, by Yuanfang Cai of the College of Computing and Informatics, will lead to more stability as programs are 150 300 450 developed and change over time UK PAUL SABATIER UNIVERSITY, TOULOUSE FRENCH SCHOOL OF ADVANCED STUDIES IN PUBLIC HEALTH (EHESP), PARIS FRANCE POLITECNICO DE MADRID SPAIN RUHR UNIVERSITY, BOCHUM MAX PLANCK INSTITUTES HUMBOLDT UNIVERSITY, BERLIN TECHNICAL UNIVERSITY OF ILMENAU GERMANY UNIVERSITÀ IUAV, VENICE KOÇ UNIVERSITY, ISTANBUL POLITECNICO DI MILANO, BOGAZIÇI UNIVERSITY, ISTANBUL MILAN SABANCI UNIVERSITY, ISTANBUL ITALY MIDDLE EAST TECHNICAL UNIVERSITY (METU), ANKARA TURKEY ISRAEL HEBREW UNIVERSITY OF JERUSALEM ISRAEL INSTITUTE OF TECHNOLOGY (THE TECHNION), HAIFA BEN GURION UNIVERSITY OF THE NEGEV, BEERSHEBA THE GAMBIA COST PER INVENTION IN TERMS OF RESEARCH FUNDING UNIVERSITY OF THE GAMBIA, SERE KUNDA start up $0.95M BRAZIL DREXEL CHILE $2.9M PONTIFÍCIA UNIVERSIDAD CATÓLICA DE CHILE, SANTIAGO CLOSEST PEER Patent PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO OSWALDO CRUZ FOUNDATION (FIOCRUZ), RIO DE JANEIRO UNIVERSIDADE FEDERAL DE SANTA CATARINA UNIVERSITY OF SÃO PAULO CHINA SHANGHAI JIAO TONG UNIVERSITY TSINGHUA UNIVERSITY, BEIJING NANKAI UNIVERSITY, TIANJIN SHANGHAI ADVANCED RESEARCH INSTITUTE OF THE CHINESE ACADEMY OF SCIENCE “Sometimes you’re pushed by people who come with a different perspective from a different place. It forces everybody to break down the disciplinary boundaries.” Julie Mostov, vice provost for global initiatives, was talking about the potential inherent in the joint research agreement signed by Drexel, The Children’s Hospital of Philadelphia (CHOP) and Hebrew University of Jerusalem in November, to collaborate on pediatric translational research. Each institution acknowledges a duty to help meet the challenges facing society, and this collaboration recognizes that extraordinary scientific achievement depends on combining the strengths of different institutions. Drexel brings its Coulter Foundationsupported expertise in translational research to the relationship; Hebrew University’s School of Pharmacy is a leader in drug delivery research; and CHOP is the number one pediatric medical institution in the nation and a pioneer in pediatric genomics. UGANDA MAKERERE UNIVERSITY, KAMPALAS ZAMBIA UNIVERSITY OF ZAMBIA AUSTRALIA UNIVERSITY OF SYDNEY 14 0 RESEARCH AND INNOVATION 0 150 150 300 300 450 450 DREXEL UNIVERSITY PRESIDENT’S REPORT 2013 15 LOCAL IMPACT Drexel owes much of our unique character to our urban location, and we repay the debt through partnerships, service and economic impact that build a stronger neighborhood and city. Drexel is in Philadelphia, of Philadelphia and for Philadelphia. ECONOMIC DEVELOPMENT CIVIC ENGAGEMENT “Rather than bringing our neighbors to campus, or bringing education and services to Powelton Village and Mantua as visitors, Drexel will stand alongside residents in an inspiring, inviting facility open to all.” Lucy Kerman, Drexel’s vice provost for university and community partnerships, is leading the effort to grow the Dana and David Dornsife Center for Neighborhood Partnerships. The Dornsife Center is an urban extension center in the tradition of the land-grant universities’ programs that brought services and partnership to rural areas. It’s a place to apply and deepen University expertise in collaboration with neighbors. In its first year, while its 1.3-acre West Philadelphia site is still being renovated, the center has already launched programs in community lawyering (criminal records expungement, estate planning), financial services (literacy workshops, tax preparation), employment assistance (Neighborhood Job Spot, offering job-ready skills) and information technology (a KEYSPOT digital literacy lab). 16 LOCAL IMPACT 75+ GRASSROOTS SERVICE PROJECTS BEGUN OR MANAGED BY STUDENTS AND EMPLOYEES $2.2 BILLION ESTIMATED ANNUAL ECONOMIC IMPACT 100% OF FRESHMEN PARTICIPATING IN THE CORE CIVIC ENGAGEMENT COMPONENT OF DREXEL’S CURRICULUM FROM THE INNOVATION NEIGHBORHOOD, DREXEL’S RESEARCH-DRIVEN MIXED-USE DEVELOPMENT ON 12 ACRES IN THE HEART OF PHILADELPHIA 74 PHILADELPHIA STARTUPS (AND 125+ OVERALL) LAUNCHED VIA DREAMIT VENTURES, NOW HEADQUARTERED IN INNOVATION CENTER AT 3401, A PARTNERSHIP OF DREXEL AND UNIVERSITY CITY SCIENCE CENTER 75+ ACRES OF POTENTIAL AT 30TH STREET STATION WHERE DREXEL IS PARTNERING WITH AMTRAK AND BRANDYWINE REALTY TRUST ON A JOINT MASTER PLANNING STUDY INCLUDING THE RAIL YARDS Mantua Gardens “The ways that we all rediscover that fundamental part of ourselves are through the relationships with one another and sometimes through our own selfexpression.” Sister Mary Scullion is the co-founder of Project HOME, a nonprofit organization committed to ending homelessness in Philadelphia and a partner in Drexel’s broad community service efforts. Project HOME residents created their own works of art and Drexel students developed an exhibition and sale. The collaboration was a classic, hands-on example of Drexel’s commitment to civic engagement. $28+ MILLION IN LIFETIME GIFTS FROM THE LATE PHIL LINDY •The Lindy Scholars program, matching West Philadelphia students with Drexel mentors and other support throughout middle and high school years •The Lindy Center for Civic Engagement, helping students find service opportunities and connecting service and academics •The Lindy Institute for Urban Innovation, incubating and launching community initiatives that build regional economic strength NEIGHBORHOOD INITIATIVES Phil Lindy with Lindy Scholars 66 WORKREADY PAID SUMMER INTERNS TEENS WHO WORKED 20 HOURS PER WEEK ACROSS DREXEL AS PART OF A CITYWIDE PHILADELPHIA YOUTH NETWORK PROGRAM 20 WEST PHILADELPHIA RESIDENTS EMPLOYED AS MEDICAL ASSISTANTS AFTER PILOT PROGRAM WITH UNIVERSITY CITY DISTRICT DREXEL UNIVERSITY PRESIDENT’S REPORT 2013 17 FY 2013 FROM THE CLOSE FOUNDATION FOR THE CHARLES D. CLOSE SCHOOL OF ENTREPRENEURSHIP PRODUCING $67 MILLION IN PRIVATE PHILANTHROPY AL U M N 1,289 4,403 90,039 7,665 $10 MILLION KEY GIFTS 14,500 TOTAL DONORS ALUMNI PROFILE 122,152 TOTAL 4, 37 9 CAMPAIGN AND FUNDRAISING ALL 5 N I 0 , I ATES ST test of Drexel’s One vision is the supportvision and involvement it inspires in friends and coltest of Drexel’s is the support and SUPPORTOne AND leagues. This was a involvement banner year itininspires that regard. in alumni, friends and FINANCES colleagues. This was a banner year in that regard. 225 $8.3 MILLION 2,466 FROM THE ELKINS TRUST FOR THE COLLEGE OF MEDICINE 11,542 $5 MILLION FROM THE PERELMAN EDUCATION FOUNDATION FOR RAYMOND G. PERELMAN PLAZA 144 $455 MILLION RAISED CAMPAIGN CLOSED NOVEMBER 2013, 7 MONTHS AHEAD OF SCHEDULE “To me, giving is just a simple expression of gratitude. I had great life-learning experiences at Drexel that led me to where I am today, which is honestly a great place.” CORPORATE AND FOUNDATION SUPPORT $21 MILLION IN NEW GIFTS VS. $15 MILLION GOAL LEADERSHIP CORPORATE AND FOUNDATION GIVERS IN 2013 18 $2.5 MILLION LENFEST FOUNDATION $600,000 WILLIAM PENN FOUNDATION $519,000 PEW CHARITABLE TRUSTS (4 GIFTS) $358,831 AUTISM SPEAKS (2 GIFTS) $350,000 CLANEIL FOUNDATION $319,000 WW SMITH CHARITABLE TRUST (3 GIFTS) $250,000 PENN MUTUAL LIFE INSURANCE COMPANY $222,941 ROBERT WOOD JOHNSON FOUNDATION (3 GIFTS) SUPPORT AND FINANCES $32.9 MILLION 2008-2010 $57.6 MILLION 2011-2013 TOTAL NEW PLEDGES AND OUTRIGHT GIFTS FROM CORPORATIONS AND FOUNDATIONS Jessica Bowers ’02 is part of a new generation of alumni serving and supporting the University in recognition of the unique value of a Drexel experience. For Bowers, that experience included a degree in biology with a minor in corporate communications, three years as a cheerleader and involvement with the Golden Key Honor Society. But perhaps most important were her three co-op experiences at major pharmaceutical firms, which pointed her toward her role today as director of marketing for biotech firm Genisphere. “Many students entering Drexel come from challenging family situations that don’t provide the support that many others take for granted. The intention, through this scholarship fund, is to facilitate opportunities for students who are trying to develop academically, despite such challenges. These challenges could result from trying to pay their own way through school or helping out at home while in school.” Martin J. Lutz III ’88 and ’95 established the Martin J. Lutz Endowed Scholarship Fund in memory of his father, Martin J. Lutz Jr. ’63 and ’67, to help LeBow College of Business students who may be struggling financially or enduring hardship as a part of their family situations. Lutz himself worked two jobs to afford college. 80,615 IN TRISTATE AREA (PENNSYLVANIA/DELAWARE/NEW JERSEY) “I’ve never met a man quite like Martin Lutz. Albeit it was for an hour, that hour will have an everlasting place in my heart. I never knew a person could be so giving. The stories he told me about his life have made me realize, above all, to do what I love. Mr. Lutz loves to give back to those in need and, because of this, a large financial burden was taken off of my family’s shoulders, knowing I had funds to carry me throughout the year. This scholarship has helped me immensely.” 145,000-PLUS TOTAL ALUMNI KNOWN WORLDWIDE 133 NATIONS WHERE ALUMNI LIVE Timothy Banks-Washington ’16 is a recipient of the Martin J. Lutz endowed scholarship. He took his first classes inside the new Gerri C. LeBow Hall in the fall, after completing an accounting co-op in Bala Cynwyd. DREXEL UNIVERSITY PRESIDENT’S REPORT 2013 19 FINANCIALS FY2013 FINANCIAL SUMMARY FINANCIAL POSITION As of June 30, 2013, total net assets grew to $1.1 billion from $946.3 million in 2012 and included $508.3 million in unrestricted, $255.5 million temporarily restricted for specific purposes and $290.0 million permanently restricted for endowments and student loans. Cash remained strong at $87.5 million, due to strong financial results and favorable capital expenditure timing. Contributions receivable totaled $82.2 million. Accounts receivable amounted to $126.2 million, including student charges of $54.2 million, $60.3 million for sponsored program grants and contracts, patient charges of $8.5 million and $3.1 million due to the College of Medicine from Tenet Healthcare Corporation. Total liabilities decreased by $7.6 million, driven by lower accrued expenses, decrease in postretirement and pension benefit, and $11.6 million of retired debt retirement liabilities, which were offset by an increase in deposits in the amount of $10.6 million. ACTIVITIES Total revenue in fiscal year 2013 amounted to $965.3 million, which exceeded the board-approved budget as the result of higher net tuition and auxiliary enterprise revenue due to an overall increase in the number of undergraduate students attending the University. Expenses of $896.4 million compared favorably with the budget. The change in net assets from operating activities was $68.9 million. The total change in net assets was $107.5 million, with non-operating activity including endowed gifts, realized and unrealized gain on investments net of endowment payout and other non-operating income. ENDOWMENT As of June 30, 2013, the portfolio market value was approximately $599.9 million including certain participating trusts and non-pooled investments, up from $566.5 million at the end of the previous fiscal year. This includes the $48.4 million Academy of Natural Sciences endowment. Performance of total pooled assets was more than 9 percent, in line with 2013 market conditions as they relate to Drexel’s asset allocation policy. 20 FINANCIALS University and Subsidiaries Drexel University and Subsidiaries DREXEL UNIVERSITY AND SUBSIDIARIES Drexel DREXEL UNIVERSITY AND SUBSIDIARIES Consolidated Statement of Financial Consolidated Statement of Activities CONSOLIDATED STATEMENT OF ACTIVITIES CONSOLIDATED STATEMENTPosition OF of June 30, 2013 (in thousands) for thethe year ended June 30, 2013 (in2011 thousands) for year ended June 30, (in thousands) asFINANCIAL POSITION as of June 30, 2011 (in thousands) TOTAL OPERATING REVENUE TOTAL OPERATING Tuition andREVENUE fees $610,186 Tuition and fees $757,635 Less: Institutional financial aid (137,727) Less: Institutional financial aid (186,556) Net student revenue 472,459 Patient Net student revenue 571,079 care activities 95,595 Patient care activities 101,991 State appropriations 13,652 State appropriations 8,210 Government grants, contracts Government grants and contracts 95,116 and contributions 121,673 Private grants and contracts 16,104 Private grants and contracts 13,886 Private 39,780 Privategifts gifts 66,540 Endowment Endowmentpayout payoutunder under spending formula 26,337 spending formula 21,976 Investment income 5,627 Investment income 3,870 Sales and services of auxiliary enterprises 83,237 Sales and services of auxiliary enterprises 73,902 Other sources 17,786 Other sources 13,403 Total operating revenue 965,267 Total operating revenue 896,956 OPERATING EXPENSE College programs OPERATING EXPENSE Research and public service College programs Academic Researchsupport and public service Student services Academic support Institutional support Student services Scholarships fellowships Institutionaland support Auxiliary enterprises Scholarships and fellowships Auxiliary Total education and general enterprises 322,391 103,746 275,042 27,385 97,877 44,865 22,017 116,007 39,823 15,556 105,392 44,826 16,971 674,776 39,042 Patient care education activities and general 116,473 Total 596,164 Operation andactivities maintenance 48,063 Patient care 110,959 Interest19,221 Operation and maintenance 44,120 Depreciation and amortization 37,885 Interest16,590 Depreciation Total operating expense 896,418 and amortization 31,227 Change net assets from Totalin operating expense 799,060 operating 68,849 Changeactivities in net assets from operating activities 97,896 NON-OPERATING ACTIVITY Endowment and other gifts 9,232 NON-OPERATING ACTIVITY Realized/unrealized net gain on investments, net of endowment Endowment and other gifts payout 24,881 15,318 Other non-operating income 4,571 Realized and unrealized gains (includes Change in assets from netnet endowment payout) 62,660 non-operating activities 38,684 Other non-operating expense (9,480) Change in net assets 107,533 Change in net assets from non-operating activities 68,498 NET ASSETS Change in net assets 166,394 Beginning of year 946,333 Net assets at beginning of year 685,768 End of year $1,053,866 Net assets at end of year $852,162 2013 ASSETS2011 ASSETS Cashand andcash cashequivalents equivalents Cash Operatingcash cash $58,504 Operating $81,432 Risk Retention Group cash 4,773 Risk Retention Group cash 6,072 Accounts receivable, net Accounts receivable, net Tuition 47,368 Tuition 54,244 Grants, contracts other 33,865 Grants, contracts andand other 60,295 Patients 6,890 Patients 8,537 Tenet Healthcare Corporation 981 Tenet Healthcare Corporation 3,119 Contributions receivable, net 100,313 Total accounts assets net 25,368 Other receivable $126,195 Deposits with bond trustees 101,566 Contributions 82,200 Student loansreceivable, receivable,net net 30,690 Other assetsinterest in trusts 19,234 Beneficial 38,939 Deposits with bond trustees 30,504 Investments544,696 Student loans receivable, net 35,856 Land, buildings and equipment, net 644,834 Beneficial 53,605 interest in trusts Investments616,706 Total assets $1,638,787 Land, buildings and equipment, net 803,733 LIABILITIES Total assets $1,855,537 Accounts payable 44,626 LIABILITIES Accrued expenses 92,351 Accounts payable 60,205 Deposits31,064 Accrued expenses 91,709 Deferred revenue 72,777 Deposits35,128 Capital lease 3,087 Deferred revenue 77,928 Government advances for student loans 26,252 Capital lease 2,930 Postretirement benefits 35,944 Government advances for student loans 27,394 Bonds and notes payable 480,524 Postretirement and pension benefits 50,741 Bonds and notes payable 455,636 Total liabilities 786,625 Total liabilities 801,671 NETASSETS ASSETS NET Unrestricted394,557 Unrestricted508,375 Temporarilyrestricted restricted 233,249 Temporarily 255,460 Permanentlyrestricted restricted 224,356 Permanently 290,031 Total net assets 1,053,866 Total net assets 852,162 Total liabilities Total liabilities and net assets$1,638,787 and net assets $1,855,537 DREXEL UNIVERSITY PRESIDENT’S REPORT 2013 22 EXPANDING OUR SCOPE University City Campus Office of the President Drexel University 3141 Chestnut Street Philadelphia, PA 19104 215.895.2100 / drexel.edu