Financial Resources Goal
Maximize Illinois Wesleyan’s financial base and focus the use of financial resources
on supporting strategic goals.
Strategy A: Managing Tuition and Financial Aid.
VI.A1: Design tuition and financial aid policies that permit us to generate needed revenues,
to be accessible for qualified applicants, and to recruit a strong and diverse student
Outcome: Move to a net tuition revenue (NTR) model for enrollment management and budgeting
to most effectively generate maximum levels of net revenue and maintain the University’s
Strategy B: Increasing Philanthropic Support and Growing the Endowment.
VI.B1: Consistently and substantially increase philanthropic support for Illinois Wesleyan
to augment tuition as a source of operating funds, and grow the endowment fund to
provide an ongoing financial base for the University.
Outcome: Upon completion of the Transforming Lives campaign in 2014, retain existing staff and resources in order to continue the pursuit
of major gifts, scholarship support, endowed faculty positions, and to prepare for
the next capital campaign.
Outcome: Invest in staff and resources to expand annual giving participation and dollars
raised, with a particular focus on alumni donors, using a multi-faceted grassroots
approach, working in tandem with a comprehensive alumni engagement program.
Outcome: Invest in staff and resources to expand the individual and collective efforts
of the faculty and professional staff to obtain funding and external fellowships from
federal, state, private, and other external sources for research and scholarship,
teaching, professional development, service, and departmental and institutional goals
and priorities; and support the post-award administration of these grants.
Outcome: Because IWU’s current financial situation precludes adding numerous additional
staff, it is important to recognize, nurture and celebrate the significant role that
volunteers play in fund-raising and in support of the University’s mission through
a more formalized program of recruiting, retaining and engaging volunteers, coordinated
as part of ongoing alumni engagement activities.
Outcome: To support all of these efforts, provide resources to enhance the University’s
advancement data management program, which will provide staff and volunteer fund-raisers
with comprehensive, timely and accessible information.
Strategy C: Using Existing Resources Strategically.
VI.C1: Systematically review resource allocations to ensure resources are being expended
in the most cost-effective and sustainable manner and consider adjustments in support
of the University's strategic goals.
Outcome: Intensify efforts to increase the flexibility of resource allocations to
meet strategic objectives.
Outcome: Continue to monitor the allocation of endowment investments to balance the
twin goals of achieving reasonable returns and low risk.
Outcome: Reexamine priorities for major gifts in preparation for the next capital
Outcome: Conduct a careful review of the allocation of resources for construction
and maintenance of physical structures, keeping environmental sustainability initiatives
Outcome: Because of the intense competition between universities for qualified students,
ensure that resource allocations in the admissions area allow for appropriate responses
to emerging opportunities.
Outcome: Make wise and forward looking decisions regarding the allocation of information
Strategy D: Developing New or Enhanced Sources of Revenue.
VI.D1: Continuously explore potential additional revenue sources to enable the University
to further its mission.
Outcome: Study efforts that would require faculty input/action related to academic
programs. Such efforts could include, but not be limited to:
- Determining the viability of continuing to offer May Term courses, including but not
limited to travel courses, in the current or a new/revised format.
- Exploring the feasibility of offering summer courses.
- Exploring the possibility of reinstituting a summer studies program where high school
students can accrue University credits, such as the former College Credits in Escrow
- Reviewing current curricular offerings to consider adding new programs or areas of
study that would attract additional students.
Outcome: Investigate non-curricular program or product opportunities that could provide
additional revenues and are consistent with a university-based endeavor.
Such opportunities could include but not be limited to:
- Conducting a feasibility study to determine viability of expanding summer conferences.
- Encouraging staff and faculty to develop summer camps for high school students which
could help support recruitment efforts as well as generate revenues.
- Changing the on-campus student residency requirement from two to three years.
- Exploring creation of an Innovations Center to review, approve and provide start-up
funding for ideas identified that would increase revenues or would enhance the efficiency
of current operations in a way that reduce expenses.