Rodin Legacy >

Penn has always prided itself on its ability to get the most out of every dollar it spends. Since President Rodin took office, it has had many more dollars to spend, thanks to outstanding development efforts that have raised more than $2 billion through annual giving since 1995 and tripled the size of Penn’s endowment.

In the 1990s, Penn implemented long-range financial planning for the first time in its history. It also adopted comprehensive capital and budget project plans as part of a now-institutionalized strategic-planning process. Increased attention has also been paid to the revenue side, with Penn’s development offices posting impressive fundraising gains—from $135 million in annual giving in 1995 to more than $400 million today—and its endowment performing well through astute management that has tripled its size to $3.4 billion while avoiding steep losses in the recent bear market. These are reflective of the businesslike approach the Rodin administration has taken to Penn’s operations.

• Annual fundraising has increased threefold, from $135 million in 1995 to a projected $400 million this year.

• The size of Penn’s endowment has more than tripled over the last decade, from $1.1 billion in 1993 to a projected $3.5 billion this year.

• Sponsored research rose from $280 million in 1994 to nearly $700 million in 2002.

• Penn has developed revenue-generating business units by contracting with experienced companies to operate key facilities such as the Penn Bookstore and Campus Dining.

• The cost of the goods and services Penn buys has been cut by more than $55 million through improved procurement systems.

• Penn has saved $4 million in annual energy costs through electric and steam conservation and is now the largest purchaser of wind-generated energy in the country.

• Strategic planning University-wide has enabled schools to identify and implement critical projects.

• Long-range financial planning and five-year budgeting is now a part of the University’s overall planning process.

• Implementation of the Business Enterprise Network (BEN) has resulted in better budget management and review.

• Performance reviews scrutinized all aspects of the University’s operations to identify and implement ways to perform work more efficiently.