FINANCIAL

Ensure the institution has sufficient financial resources to achieve our mission.

Ivy Tech Community College is a good steward of state tax dollars and keeps tuition affordable to best serve its students. Simultaneously, the institution requires sufficient financial resources to achieve its mission. The College’s funding model must align with the funding support and educational objectives of the State of Indiana. Adopting an outcomes-based budgeting model will ensure financial viability. Ivy Tech will diversify revenue sources by attracting and securing external funding and leveraging capital assets to support students and campus communities.

HOW WE GET THERE

STRATEGY 6.1 Attract and secure more external funding.

Increase the donor pipeline by formalizing a results-driven alumni engagement strategy. This will be part of a comprehensive college-wide campaign designed to generate funds through charitable donations.

STRATEGY 6.2 Better leverage capital assets to create revenue.

Develop a process for more standardized disposition of assets and technology. Reduce operating costs through re-negotiated leases. Reduction of one million square feet of underutilized space across the College.

STRATEGY 6.3 Maximize current allocation of resources.

Optimize the procurement process college-wide. Increase virtual collaboration. Implement new campus funding formula.

STRATEGY 6.1

Attract and secure more external funding.

Increase the donor pipeline by formalizing a results-driven alumni engagement strategy. This will be part of a comprehensive college-wide campaign designed to generate funds through charitable donations.

STRATEGY 6.2

Better leverage capital assets to create revenue.

Develop a process for more standardized disposition of assets and technology. Reduce operating costs through re-negotiated leases. Reduction of one million square feet of underutilized space across the College.

STRATEGY 6.3

Maximize current allocation of resources.

 

Optimize the procurement process college-wide. Increase virtual collaboration. Implement new campus funding formula.

MAKENZIE’S JOURNEY

“Employers are struggling to find employees to fill many positions, especially at the entry level. Ivy Tech was able to provide the resources our community and businesses needed.”

Makenzie Coulter

Senior Public Relations and Training Specialist, FLANDERS

Ivy Tech Community College looks to the future with an unwavering commitment to serve its students, employers, staff and communities through responsible fiscal stewardship, smart resource allocation and pursuit of innovative funding opportunities.

Whether acquiring new donors through the Ivy Tech Foundation, pursuing grants to support priority programs or partnering with communities to better leverage physical space, Ivy Tech will ensure financial supports are available to achieve the vision of leading Indiana toward 60% of Hoosiers achieving post-secondary credentials. In southern Indiana, the work has already started.

Last year, Ivy Tech partnered with manufacturing employers in southern Indiana to better understand workforce challenges facing the community. Listening to the concerns was value-added, but genuine change and leadership resulted as Ivy Tech and local manufacturing employers took action to address the concerns through pursuit of additional funding. Working with grant writing support from the Ivy Tech Foundation and other team members, a group applied for a grant from the Indiana Department of Workforce Development. In January 2017, the Ivy Tech Evansville campus was awarded more than $665,000 to grow technical skills programs and provide manufacturing experience to individuals, which would help address skill gaps of the employers.

“Ivy Tech played a critical role in getting and fulfilling the grant, as both a facilitator and collaboration leader in our community,” shared Makenzie Coulter, Senior Public Relations and Training Specialist at FLANDERS. “Employers in our region are struggling to find employees to fill many positions, especially at the entry-level. Ivy Tech was able to provide the resources our community and businesses needed – high quality instructors with real-world experience, state of the art facilities and equipment, and programs that gave participants the skills they need to do the jobs we have – and the commitment from Ivy Tech has helped make the program successful.”

The program made possible by the workforce grant was pivotal in addressing financial barriers that had prevented many individuals from pursuing additional education and training. “It is difficult for many to simply stop working and go back to school. Through the grant for the Skill UP program and the employers’ paid internships, participants were paid for their on-the-job experience and their work in the classroom as well. It has been a win-win to meet both student and employer needs.”

Understanding the urgency to address longer-term workforce gaps the employers discussed, Ivy Tech also worked with Junior Achievement to expand programs to youth in the community. A new curriculum provided by Junior Achievement for Advanced Manufacturing will educate middle school students in the region about career opportunities in the high-demand sector.

METRICS

Year 1

Year 3

Year 5

Reserves: Days on Hand

180 Days

180 Days

180 Days

Reserves: Percent Annual Growth

3%

3%

3%

Total Dollars Raised (Foundation and Grants)

$52,312,000

$64,597,520

$64,262,999

METRICS

RESERVES: DAYS ON HAND

Year 1: 180 Days
Year 3: 180 Days
Year 5: 180 Days

RESERVES: PERCENT ANNUAL GROWTH

Year 1: 3%
Year 3: 3%
Year 5: 3%

TOTAL DOLLARS RAISED (FOUNDATIONS AND GRANTS)

Year 1: $52,312,000
Year 3: $64,597,520
Year 5: $64,262,999

(888) IVY-LINE
© 2018 Ivy Tech Community College

(888) IVY-LINE
© 2017 Ivy Tech Community College