FINANCIALEnsure the institution has sufficient financial resources to achieve our mission.
HOW WE GET THERE
STRATEGY 6.1 Attract and secure more philanthropic funding.
STRATEGY 6.2 Right-size our physical presence.
STRATEGY 6.3 Diversify our 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.
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.
Optimize the procurement process college-wide. Increase virtual collaboration. Implement new campus funding formula.
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.
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.