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2010 Presidents Report
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Jack M. Wilson, Ph.D.President
The past year, 2009, will be remembered as one in which the University again set record
numbers of applications, quality of students, research expenditures, commercialization
intellectual property, and endowment. Thanks to the efforts of our dedicated and expe
leadership team, we have navigated effectively through the years economic challenges a
proud of our many successesmost importantly, providing continued access to high-qu
affordable education for the Commonwealths most powerful sustainable resource: our st
The UMass system is an education and innovation enterprisethe Commonwealths mo
prolific public research resourcewith nearly $500 million in research expenditures. Acr
entire system in Fiscal 2009, UMass generated $73 million in intellectual property income
record performance that is expected to put UMass among the nations top 10 universities
intellectual property income when national results are next published.
Never has our commitment to academic distinction and affordability been greater. In F
2009, UMass spent $97.2 million of its own resources on financial aid, meeting 92 perce
Massachusetts students estimated financial need. UMass students received more than $500 m
in aid from all sources. The need has never been higher. Since I have been President, we have g
our own investment in financial aid from $36 million to $138 millionan increase of 28
UMass stands at the forefront of the most important issues of our day. Students and fac
are engaged in research that leads to breakthroughs in medical treatments, economic
development, and clean energy. In an increasingly interconnected and competitive wor
University is supporting global initiatives and programs, recruiting international studen
faculty, and working with partners to provide study abroad opportunities, service learn
projects, and internships. We continue to build and maintain the 21st century facilities
our students and faculty need and deserve.
In spite of declining endowments nationwide, the University of Massachusetts turned i
a record performance in Fiscal 2009, ranking in the top quartile of American colleges a
universities reporting for one-, three-, and five-year returns, according to the National
Association of College and University Business Officers. We are deeply grateful to our d
who have made gifts to the endowment, and to our investment committee, a talented gr
of alumni, parents, and friends who are accomplished investment professionals workin
behalf of our University.
As you may know, I have announced that I will leave the Presidency when my term en
in June 2011 to return to my teaching and research. It has been an honor and privileg
serve as a steward of this great University. It has also been a joy to work on behalf of
students, faculty, and staff of the University. I would like to express my gratitude to th
many other friends of UMasselected officials, parents, and community leadersw
have done so much to sustain and advance the University. We continue to count on y
support and advocacy as we work to reach our shared objectives for the University an
the Commonwealth.
L ET T ER F RO M T H E PRES I DENT
OpportunityNever has our commitment to academic distinction and affordability been
greater. In 2009, UMass spent $97.2 million of its own resources on financial
aid, meeting 92 percent of Massachusetts students estimated financial need.
UMass students received more than $500 million in aid from all sources.
UMass President Jack M. Wilson
tin T. Meehan, J.D.Chancellor,
UMass Lowell
Jean F. MacCormack, Ed.D.Chancellor,
UMass Dartmouth
Jack M. Wilson, Ph.D.President,
University of Massachusetts
Robert C. Holub, Ph.D.Chancellor,
UMass Amherst
Michael F. Collins, M.D.Chancellor,
UMass Medical School
J. Keith Motley, Ph.D.Chancellor,
UMass Boston
All data in this report is from Fiscal Year 2009, the most recent available data for a complete fiscal year ending on June 30.
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Robert J. ManningUMass Lowell 84Chairman, Board of Trustees
The strength and culture of institutions are tested during periods of volatility. The
University of Massachusetts has not only endured the national and global economic
challenges presented during 2009, but has identified and fostered areas of opportuni
and competitive advantage.
I am grateful for the work of my fellow t rustees who have given their time, money,
and expertise to ensure excellence for UMass, now and in the future. As a result of
their efforts and the astute leadership of President Wilson and Chancellors Collins,
Holub, MacCormack, Meehan, and Motley, the University serves its students and th
Commonwealth at the highest levels while increasing available financial aid dollars a
holding tuition and fees lower than the average of its peer New England public resea
universities. I would like to thank our elected officials for their continued support
in these efforts.
The University management has taken steps, in the Presidents Office and on the cam
to reduce spending and to focus resources on growth areas. I would like to recognize ou
rate faculty and staff, who should be commended for their steadfast commitment to th
University and our students and their willingness to sacrifice in order to move UMass fo
More students and families have looked to UMass this year. They understand in
increasing numbers the tremendous educational opportunities that are possible at
the Commonwealths public research university. This is the place where quality and
affordability come together.
As we prepare our students to act as fully engaged alumni and citizens, we conduct re
that may solve some of our most significant global concernsenvironmental securit
sustainability, access to quality long-term health care and new medicinesand provi
them a path to participation in the world economy.
As a graduate of the University of Massachusetts Lowell, I know firsthand how the
dedication of faculty and staff shapes the future of the University, the Commonwealt
the world. As Chairman of the Board of Trustees, I encourage you to get involved in a
way you canwhether through alumni engagement, or as a parent, donor, or friend.
University of Massachusetts is our asset to preserve and enhance.
L ET T ER F RO M T H E CH A I RMAN
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ACADEMIC AND RESEARCH ENRICHMENTWith the help of exceptional fa culty, the University of Massachusetts
thriving research environment promotes innovative programs that
transform students into well-prepared citizens.
UNIVERSITY-WIDE GL O BAL ENGAGEMENTGreater world awareness is the goal as students and faculty look to solve
global challenges with far-reaching international impact.
21ST CENTURY FACIL IT IESNew capital projects underway within the UMass system uphold the Universitys
commitment to remaining a world-class leader in higher education.
MASSACHUSETTS INNO VATIO N ENGINEBy streamlining new ideas from the classroom to the business world,
the University keeps the states economy ahead of the learning curve.
L IFEL O NG REL ATIO NSHIPS WITH O UR AL UMNIThe University provides access to a thriving network of professional and
personal connections, creating strong bonds between student and school
that last a lifetime.
SERV ICE TO TH E CO MMO NWEAL THThe Universitys mission of teaching, research, and service comes to life in the
work of the school community, as faculty and students alike reach out across
the Commonwealth to share their expertise.
INFO RMATIO N O N THE ENDO WMENT
2009 CO NSO L IDATED F INANCIAL INFO RMATIO N
UMASS AT A GLANCE
Presidents Report
Board of Trustees
The University recognizes the following members of
the Board of Trustees (as of January 2010) who have
served with distinction.
Robert J. Manning, Chairman, Swampscott
James J. Karam,Vice Chairman, Tiverton, RI
Ruben J. King-Shaw Jr.,Vice Chairman, Carlisle
Emily Bloch, Student, Amherst
Lawrence F. Boyle, J.D., Milton
Jennifer C. Braceras, J.D., Concord
Edward W. Collins Jr., Springfield
Tara-Jean DeSisto, Student, Boston
John A. DiBiaggio, D.D.S., Snowmass Village, CO
Maria D. Furman, Wellesley
Matthew S. Hoyt, Student, Dartmouth
Philip W. Johnston, Marshfield
David Koffman, Student, Lowell
Richard J. Lawton, J.D., East Falmouth
Kenneth A. MacAfee II, D.M.D., Needham
Kerri Osterhaus-Houle, M.D., Hudson
R. Norman Peters, J.D., Paxton
Paul Reville, Secretary of Education,Commonwealth of Massachusetts, Worcester
Henry M. Thomas III, J.D., Springfield
Stephen P. Tocco, Reading
Victor Woolridge, Springfield
James Young, Student, Worcester
Visit the University of Massachusetts Board of
Trustees at www.massachusetts.edu/bot
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Recent findings from the Massachusetts
Life Sciences Talent Initiative (MLST)
study Growing Talent, conducted
by the University of Massachusetts
Donahue Institute, identified current
and emerging workforce trends pointing
to life science as one of the fastest
growing high-potential sectors of the
Massachusetts economy.
Several recommendations emerged
from the study, including the need toboost the states pipeline of residents
seeking higher education degrees and
careers in life sciences, as well as to
further develop connections between
industry and academia to maintain the
Commonwealths position as a global
life sciences leader.
The University of Massachusetts is
developing Masters level education and
training programs that respond to the
needs of this sector and for that, the
Sloan Foundation grant cultivates life sciences talent
Alfred P. Sloan Foundation, a national
leader in promoting higher education
in science, recently recognized
our efforts. UMass was awarded a
$124,200 grant to develop up to 10
Professional Science Master (PSM)
degrees, combining interdisciplinary
academics, industry experience, and
practical business and communications
skills vital to the Massachusetts
innovation economy. These include
health informatics, biotechnology, andenvironmental service.
UMass produces more life sciences
undergraduates than any other
Massachusetts institution and this year
conferred 710 biological/life sciences
degrees across the five-campus system.
Led by UMass Lowell Provost Ahmed
Abdelal, UMass has convened a
system-wide task force to strengthen its
role in fostering the regions scientific
talent and currently is launching degree
UMass produces more life
sciences undergraduates than any
other Massachusetts institution
and this year conferred 710
biological/life sciences degrees
across the five-campus system.
Above left (L-R):
UMass Lowell
Clinical Lab
Sciences seniors
Navadha Patel,
Bhumi Upadhay,
and Gerson Duarte
Above right:
UMass Amherst
graduate student
and instructor
Guanshi Zhang
programs to meet a critical need for
experienced scientists in todays life
sciences supercluster.
UMass Lowell is at the forefront of this
initiative, which offers four PSM options.
Plans call for PSM courses that combine
business and communications classes
with internships in the life sciences
industry, offered primarily through the
internationally recognized UMassOnline.
UMass PSM degrees reaffirm the
Universitys dedication to educating
students for the 21st century. The recent
adoption of a Masters degree in clinical
sciences at the UMass Medical School is
another example of this long-standing
commitment. Guided by world-class
research faculty, our advanced programs
continue to prime the next generation
of life science innovators.
At the University of Massachusetts,top-notch research programs are thecornerstone of an incomparable educatio
ACADEMI C AND RES EARCH ENR I CH MENT
Central to the Universitys
mission is the attraction and
retention of world-class faculty
who, working together with
top-notch students, continue to
apply the Universitys intellectual
resources to solve global,
national, and local problems.
Jack M. Wilson, Ph.D.President
The University of Massachusettsis a leader in research, educationpublic service programs that advance knowledge and improve the lives of
throughout the state, the nation, and the world. UMass is a powerful rese
engine, with $489 million in research expenditures in Fiscal 2009 support
by sources that include the National Science Foundation (NSF), the Natio
Institutes of Health, corporate partners, and other federal, state, internal,
private sources. The Universitys research expenditures in Fiscal 2008 (the
recent available comparison data) placed UMass 23rd among the nations public universities that reported to the NSF.
The Universitys research enhances a wide range of academic programs th
enrich the student experience, spur economic growth, and feed the knowl
economy. With more than 35 nationally ranked programs across all five o
our campuses and extensive global programs that support study-abroad
opportunities for undergraduate and graduate students, UMass is leading
the way in promoting innovative programs that encourage faculty across
disciplines to engage in research, teaching, and service.
Our thriving academic research environment attracts exceptional faculty
members who are leading scholars in their fields and have received award
as the Nobel Prize, the Pulitzer Prize, the American Book Award, and the A
Lasker Basic Medical Research Award, widely known as the American No
UMass Amherst, the University systems flagship campus, is a Top Produ
Fulbright Students among research universities for the 20082009 academ
year. In 2009, 18 UMass Amherst students applied for Fulbright scholarsh
eight received them.
The UMass Medical School currently has on faculty five Howard Hughes
Medical Institute (HHMI) investigators, one of the most prestigious and
after scientific awards in the world, and two HHMI Early Career Scientist
UMassOnline has achieved double-digit growth in both enrollments and
revenues. For Fiscal 2009, the online division saw an 18 percent increase i
enrollments and a 27 percent increase in revenue over its Fiscal 2008 resu
Compared with the previous year, enrollments rose from 33,900 to 40,048
revenues increased from $36.9 million to $46.8 million.
Presidents Report
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Jean F. MacCormack, Ed.D.
Chancellor, UMass Dartmouth
UNIVERSITY-WIDE GLOBAL ENGAGEMENTPresidents Report
The University of Massachusetts
prepares students to be globally
competentgiving them the
knowledge, experiences, and
skills to work across cultures
and borders.
Professor Williams translates Middle East strifein rough terrain to classroom
Above left: Professor
Brian Glyn Williams
with warlord Abdul
Rashid Dostumin
Afghanistan
Above right:
Professor Williams
with students
Adam Moore,
Swetha Polavarapu,
Alexa Cabral,Kevin Gilmore,
Timothy Swanton,
and Brian Silva-
Boutwell
These people live lives scarred by
something unimaginable to most
Americansnamely 25 years of war
fought not in a distant land, but in their
own towns, streets, and homes, said
University of Massachusetts Dartmouth
Professor Brian Glyn Williams of the
Afghan people he has met. They want
nothing more than for their children
to grow up in a country where thereis no war.
Williams trains his expert eye on the
conflict in Islamic Eurasia, conducting
field studies and traveling through
dangerous territoriesincluding a
recent trek to interview the notorious
and well-insulated Taliban-killer, warlord
Abdul Rashid Dostumall in the pursuit
of knowledge about the war on terror.
Dostum is the master of Northern
Afghanistan and the Uzbek people.
Dostum and his army of turbaned
horsemen were Americas greatest allies
in overthrowing Taliban forces in 2001.
Williams journeyed from Kabul, crossing
the landmine-covered Shomali Plain and
Hindu Kush mountains for an interview
with Dostum, the man responsiblefor capturing almost all of the Taliban
militants imprisoned at Guantanamo
Bay, Cuba.
Williams eluded a heavy security
detail to contact Dostum and made his
request. With the word tanamlets
do thisthe anticipated five-minute
conversation morphed into a two-week,
in-depth interview.
Not only did Williams get the most
extensive interview with the warlord
ever recorded, he also experienced
the violent but beautiful Afghanistan.
Williams was moved by the Uzbek
people, some of whom slept outside his
hut to ensure his safety.
Professor Williams invigorated the
classroom with stories of his time spentliving in Afghanistan and with its people.
Learning the struggles of the country
has helped me to see how these events
tie into and shed light on 9/11 and
why President Obama needs to deploy
30,000 more troops into hostile territory.
Professor Williams has a gift in that he
can bring history to life, said student
Brendan Valencia.
The University of Massachusetts meetsthe challenges of a complicated world bproducing internationally aware graduawho are prepared to make a difference
The University of Massachusetts holds international engagement high strategic priority. By supporting global initiatives and programs, rec
international students and faculty, and working with partners and institu
provide study-abroad opportunities, service learning projects, and intern
we educate productive and responsive citizens.
From international conflict, to a changing global economy, to escalating
environmental concerns, this year reaffirmed our obligation to produce g
competent graduates with the critical tools for recognizing cultural values
than their own, for viewing global issues from a variety of perspectives, a
living and working in a rapidly changing environment.
In UMass classrooms, students and faculty explore current events, organi
cultures, and issues within our nations borders and throughout the world
Students, faculty, and staff from our five campuses are conducting researc
developing new products and technologies that impact critical global issu
regional, national, and international significance.
For example, last summer a group of UMass Medical School faculty and
students visited Mumbai, India, where a monoclonal antibody discovered
Mass. Biologics Laboratories is being tested in clinical trials. The students
firsthand look at health care in a developing country while conducting a c
trial of a new drug that will one day be readily available to the people of I
At UMass Boston, Professor Padraig OMalley, the John Joseph Moakley C
for Peace and Reconciliation, hosted the Divided Citiesconference, a foru
brought together leaders from several war-torn nations. The forum facilit
conversations about peace between nations that were currently experienci
had previously experienced war or conflict.
Whether through a classroom discussion, interaction with a visiting prof
or through an international service trip, students and faculty at the Unive
Massachusetts are exploring solutions to some of the worlds greatest cha
The Universitys continued efforts to incorporate intercultural and global
elements into the teaching, research, and service functions of the Universi
help to foster the successful global leaders of tomorrow.
n UMass classrooms,
students and faculty
explore current events,
organizations, cultures,
and issues within our
nations borders and
throughout the world.
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Can a building be aesthetically pleasing,
environmentally friendly, and provide
heat for an entire university campus?
Just look to the new Central Heating
Plant at the University of Massachusetts
Amherst for proof.
With its distinctive south-facing
glass wall, rounded roof, and bright
red exterior, you might assume the
building is an architecturally innovative
performing arts center or a sparklingnew sports arena. In reality, it is one of
the cleanest heating plants in the nation,
cutting the campuss carbon footprint by
30 percent.
The state-of-the-art, $133 million facility
is a part of UMass Amhersts larger
commitment to becoming a green
leader and fostering campus-wide
sustainability practices. It comes two
years after University leaders signed
the American College & University
Presidents Climate Commitment, a
national pledge to neutralize institutional
greenhouse gas emissions and to
accelerate research and education
efforts addressing global warming.
The award-winning plant sets new
standards and is expected to save the
campus $1 million a month in energy
costs. It generates both electricity and
steam, uses natural gas and oil, and
can be expanded to burn such biofuelsas wood chips, according to James
Cahill, director of Facilities and Campus
Planning. It replaces an obsolete, coal-
burning facility dating back to 1918.
The facility is designed to meet all the
campuss needs for heat and will be
capable of producing 80 percent of its
electrical load after an additional steam
turbine is installed. The plant complies
with some of the most rigorous air-quality
requirements in the country and uses
Above left:
Students work out
n UMass Amhersts
new Student
Recreation Center
Above top right, at
he dedication of the
Central Heating Plant
n April 2009 (L-R):
Theodore Carroll
ohn A. Mathews
Robert P. Thornton
Edward W. Collins Jr.ack M. Wilson
Robert C. Holub
Robert K. Sheridan
Philip Giudice
oyce M. Hatch
Above bottom right:
New UMass
Amherst Central
Heating Plant
advanced combustion turbine burners
and pollution-control equipment to reduce
emissions by approximately 75 percent.
The plant recovers 80 percent of
the energy used per pound of fuel
consumed, twice the average of
current power plants. The operation
also will conserve 65 million gallons of
clean drinking water annually by using
treated gray water from the Amherst
wastewater treatment plant to replacewater lost in steam di stribution and use.
In 2008, the Combined Cycle Journal, an
international publication that recognizes
outstanding power plant constructions
around the world, awarded the facility its
Pacesetter Plant Award. The new plant
represents a major step in transforming
the campus into a statewide showcase
for energy efficiency.
Full steam ahead for UMass Amherst green plant
Presidents Report
The Universitys ambitious capital planfor cutting-edge additions brings thefuture to life with form and function
21ST CENTURY FACIL IT IES
Robert C. Holub, Ph.D.Chancellor, UMass Amherst
To advance our goalof attracting the finest students and faculty, theUniversity of Massachusetts is committed to modern living and learning
that enhance the depth and value of our educational environment.
The University has embarked on an ambitious capital plan for 300 buildin
renovation projects across the five UMass campuses. With support from t
Commonwealths higher education and life sciences bond bills, the Unive
will invest $2.6 billion in new 21st century facilities, energy improvements
deferred maintenance over the next five years.
Priorities include research labs, classrooms, and student facilities that fost
alliances among academic disciplinesthereby exposing students to facu
whose research yields expert knowledge, and teaching them to work with
classmates worldwide.
With these investments in cutting-edge facilities, we have every reason to
confident in and optimistic about the future of the University and the stu
who are destined to become 21st century leaders.
As the University continues to
attract the best faculty and the
brightest students, we must also
provide cutting-edge facilities.
UMass Amherst is meeting this
challenge with state-of-the-art
facilities that support the unique
endeavors of living and learning
at a major research university.
Heres a look at some of the completed or underway projects:
UMass Amherst: The completed Integrated
Science building and Central Heating Plant
reduce our carbon footprint. Design is
being completed for the new Laboratory
Science Building.
UMass Boston: The completed Venture
Development Center includes lab space
for entrepreneurs. Construction of a new
Integrated Sciences Complex will providefaculty researchers with advanced labs.
UMass Dartmouth: A 22,000-square-foot,
three-story addition to the Learning Pavilion
at the Charlton College of Business is
planned. Renovation of the Claire T. Carney
Library will include assembly and study space.
UMass Lowell:UMass Lowell Inn and
Conference Center provides housing
hundreds of students. Acquisition of
Tsongas Arena will provide events as
years. The new $40 million South Ca
academic building will address dram
growth in the nursing, criminal justic
English, and psychology programs.
UMass Medical School:The Albert SCenter will be a state-of-the-art biom
research and academic support cent
including the Advanced Therapeutic
to enhance progressive RNAi, gene t
and stem cell research.
The award-winning CentralHeating Plant at the University of
Massachusetts Amherst sets new
standards and is expected to save
the campus $1 million a month in
energy costs.
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The University of Massachusetts
Boston McCormack Graduate School
of Policy Studies is working to protect
the potential of the sea with the
Massachusetts Ocean Partnership
(MOP), a university/stakeholder
consortium designed to advance
ecosystem-based management of the
Commonwealths coastal waters.
The initiative is supported by an $8.2
million private grantthe largestUMass Boston has ever received
from the Gordon and Betty Moore
Foundation, a California-based group
that rarely funds East Coast projects.
With additional funding from the UMass
Presidents Office, the MOP has helped
Massachusetts to create the nations
first multi-use ocean management plan
that integrates public outreach, robust
scientific data, and effective pl anning
tools to streamline competing uses of
ocean resources.
Human impact is changing coastal and
marine ecosystems, compromising
beaches, seafood, and storm and flood
protection. The MOP creates forums
designed to reach solutions to these
regional ocean management issues.
Its work highlights the importance
of balancing ocean use, including
such technology as renewable ma-
rine energy, and supports policies
that drive economic recovery while
defending critical ocean habitats.
Robbin E. Peach, M.P.A., founder
of the MOP and director of the
Collaborative Institute for Oceans,
Climate, and Security at UMass
Boston, specializes in public-private
partnerships that have garnered
more than $50 million for the
Commonwealths environment. The
Collaborative Institute for Oceans,
Climate, and Security, an alliance
between the College of Science
UMass takes on real world
matters through innovative
research, including studies
undertaken by the UMass
Boston McCormack Graduate
School of Policy Studies
and the UMass Dartmouth
School of Marine Science and
Technology (SMAST).
Above left (L-R):
tudents Kenna
Wilkie, Ambarish
Karmalkar, and
Sebastian Koenig
work with UMass
Amherst professor
Rob DeConto on
global climate
dynamics
Above right (L-R):
Science Associate
Kimberly StarbuckUMB, M.S. 08),
MOP founder Robbin
Peach, and Prassede
Vella (UMB, Ph.D.
candidate) of the
Massachusetts
Office of Coastal
Zone Management
UMass at the crest of ocean management
Presidents Report
Pursuing solutions from classroomsto companies, the Universitys focus oninnovation drives the states economy
MASSACHUSETTS INNOVATION ENGINE
We use our strength as a
research university to create
new knowledge, address social
problems, inform public policy,
and support the economic
and social welfare of the
Commonwealth.
J. Keith Motley, Ph.D.
Chancellor, UMass Boston
In todays global economy,university-based innovation ensures a strofuture for Massachusetts. The University of Massachusetts provides the kno
and manpower crucial to advancing the states innovation-based economy
Driven by our faculty, the five University of Massachusetts campuses supp
the Commonwealths innovation ecosystem with talent, ideas, and discov
that generate jobs, inspire new companies, and encourage industry partne
across the state. With 66,000 students, the University produces 12,600 gra
per year60 percent of whom will stay in Massachusetts for their careers
According to a recent economic impact study, UMass contributed to $4 b
of economic activity in Massachusetts in Fiscal 2009 through local operat
and construction expenditures; and resident faculty, staff, and student
spending. These outlays helped to support an estimated 15,000 additiona
throughout the Commonwealth, yielding a total of more than 37,700 job
Commonwealths $540 million support of UMass accounts for 22 percent
Universitys $2.4 billion total operating budget, providing excellent return
investment for the Commonwealth.
Since 2004, the Presidents groundbreaking Faculty Science and Technolog
Creative Economy Initiatives have provided seed funding for faculty resea
in science, engineering, arts, humanities, and social sciences. In Fiscal 200
UMass awarded $1 million to faculty, with President Jack M. Wilson notin
The Universitys support of research and scholarship is central to its acad
missionthese grants are among the tools we use to retain world-class fa
enrich our students learning experiences, and apply the Universitys inte
resources to solve global, national, and local problems.
With support from the Office of Commercial Ventures and Intellectual Pr
the innovation-related income on each of our five campuses has risen stea
during the last decade, most successfully at the Medical School. The Univeintellectual property licensing income soared to a record $73 million, up f
$37 million the previous yeara performance that likely will catapult UM
into the intellectual property income top 10 nationwide. UMass expended
million in research and development in Fiscal 2009, proving its commitm
generating powerful activity and results in the economic sector.
Since 2001, SMAST has been working with
the state Department of Environmental
Protection on the Massachusetts
Estuaries Project, a $12 million effort to
provide practical, affordable strategies that
protect and restore the fragile shoreline of
Southeastern Massachusetts, Cape Cod,
and the Islands. So far, SMAST has analyzed
about 40 estuaries, saving municipalities an
estimated $300 million by helping to develop
restoration strategies that ensure the most
benefit to these areas.
and Math, McCormack School, and the
Venture Development Center, focuses
on resilient coastal communities, climate
adaptation strategies, and human/
national security.
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As a senior at UMass Lowell, Amy
Osgood never dreamed she would have
the chance to invest $25,000 in the
stock market. Nor did she think that, at
age 21, she would garner investment
advice from such industry giants as
former Goldman Sachs Vice Chairman
Roy Zuckerberg, Ironwood Capital
Management President Warren Isabelle,
and Eastern Investment Advisors Chief
Investment Officer John Kattar. This all
changed when she and her team enteredthe annual University of Massachusetts
Student Managed Fund contest.
The competition challenges business
students from the UMass system to earn
the highest return on a $25,000 seed
fund through real stock market investing.
Each team started in January 2008 with
$25,000 from the UMass Foundation.
Although the students decide which
stocks to buy, actual trades are handled
by the UMass Foundation. Students
benefit, academically and professionally,
from collaborating with successful
alumni who work in the financial sector.
We had the perfect formula:
outstanding faculty and alumni advisors,
simple but solid investment principles,
and most im portantly, the opportunity,
Osgood said. Looking back at the
Student Managed Fund, I am forever
grateful for the opportunity theUniversity of Massachusetts generously
presented us with. There are certain
topics in life that have more impact
when they dont come from the pages
of a text book and this is one of them.
The UMass Lowell team won the contest
for the second consecutive year. During
the 200809 academic year, Lowells
fund generated a -4.25 percent return
and overperformed the S&P 500 fund
by 23.44 percent.
Above left (L-R)
Back row: Scott
Wilson, Michael
Krieger, John Kattar,
Roy J. Zuckerberg,
Professor Ravi Jain,
President Jack M.
Wilson, Warren Isa-
belle, Bryan Ratliff.
Front row (seated):
Courtney Stepien,
Amy Osgood,
onathan Pedi, and
Patrick Livermore
Above top right:
Students at the
UMass Lowell
ommencement
Above bottom
ight (L-R): UMass
Dartmouth alumni
Claire T. Carney (73,
H 90) and Joyce
LeBlanc (89)
Assistant Professor Ravi Jain served as
the teams faculty advisor. UMass Lowell
alumni Zuckerberg, Isabelle, and Kattar,
all of whom are members of the UMass
Foundation Investment Committee,
also advised the students throughout
the competition. Alumni Investment
Committee members from each campus
advised each student team.
We are extremely proud of all of our
students who participated in this yearscompetition, said UMass President
Jack M. Wilson. Our alumni advisors,
with their wealth of knowledge, are
training the future leaders of finance
and will continue the Universitys legacy
of producing highly trained business
professionals and excellent Investment
Committee members.
Alumni experts invest in business students success
Presidents Report
Successful alumni, effecting positive chanin the Commonwealth and across theglobe, create the power behind a degrefrom the University of Massachusetts
L IFELONG RELATIONSHIPS WITH OUR ALUMNI
As a UMass Lowell alumnus,
I know that the education I
received, and the possibilities
it opened for me, have shaped
everything in my professional
life. The same can be said of all of
our alumni, and we are proud of
everything they have accomplished.
Martin T. Meehan, J.D.
Chancellor, UMass Lowell
With a student body of more than 60,000, the five-campus Uniof Massachusetts system educates more state citizens than any other instit
in the Commonwealth. Nearly nine out of 10 UMass students are Massach
residents, and more than 60 percent of our almost 400,000 alumni remain
state after graduation.
More than ever, UMass alumnibusiness leaders, health care professiona
scientists, artists, educators, and experts in a host of industriesare conn
through networking, attending reunions and alumni events, and Network
the online alumni community. Opportunities after graduation include accr
online courses, one-day learning programs, professional development exper
and social networking. We recognize our alumni as our most ardent advoc
and recruiters, and we hope that by providing unique experiences, we can
a lifelong relationship.
Many alumni have made the University of Massachusetts a philanthropic
priority. These alumni acknowledge that an investment in UMass is an
investment in the future of our society. Strong alumni support allows us t
provide scholarships to the states brightest and most deserving young pe
who continue to fuel the spirit of innovation, a cornerstone of a UMass
education. Overall, the Universitys endowment has more than doubled d
the past eight years, from $151 million in 2002 to more than $367 million
end of 2009. The greatest resource available to UMass students and alumn
thriving community of talented graduates.
UMass Comes To You!
The University has launched UMass
Comes To You!, a new series covering
topics from health to current events,
clean energy to literature. The series
gives alumni the opportunity to go back
to school for an entire day. Become a
member of your campuss online alumni
community to stay informed on this and
many other events.
NetworkUMass
Connect with the powerful network
of 220,000 University alumni by
joining NetworkUMass, the online
alumni community. Build a profile,
search and post job listings, and look
for fellow classmates. Visit
www.NetworkUMass.com
UMassOnline
Earn your accredited online deg
certificate from one of the natio
ranked universities through UM
which allows you to attend the s
high-quality programs and learn
same world-class faculty as stud
the University of Massachusetts
Boston, Dartmouth, Lowell, or W
campuses. For more information
www.umassonline.net
trong alumni support allows us to
rovide scholarships to the states
rightest and most deserving young
eople who continue to fuel the
pirit of innovation, a cornerstone
f a UMass education.
8/9/2019 2010 University of Massachusetts President's Report
9/15
For decades, Medicaid and Medicare
have provided a health care safety net to
millions of Americans in need of acute
care. Long-term care (LTC), however,
has been more complicated to predict,
structure, and provide consistently.
Until recently, it has been on the back
burner of the national policy agenda. As
the U.S. population lives longer, elders
and those with disabilities need more
comprehensive long-term medical and
social services and support. Now LTChas become a major focal point in the
ongoing national health care debate.
In late 2008, Massachusetts Governor
Deval L. Patricks administration unveiled
its Community First Olmstead Plan, with
the states Executive Office of Health
and Human Services (EOHHS) and
Executive Office of Elder Affairs. Its goal
is to ensure that elders and people with
disabilities in Massachusetts have access
to opportunities and support that allow
them to live with dignity and as much
independence as possible.
Under this plan, EOHHS, MassHealth
(Massachusetts Medicaid), and
Elder Affairs leadership convened
the Massachusetts Long-Term Care
Financing Advisory Committee,
composed of 24 public and private
health care stakeholders and experts.
The committees charge was to identify
strategic options for a sustainablemix of private and public LTC funding
mechanisms. EOHHS, MassHealth, and
Elder Affairs called upon Commonwealth
Medicine, the University of Massachusetts
Medical Schools nonprofit consulting
and service organization, to conduct
the most comprehensive review of LTC
financing to date.
Both at the table and behind the scenes,
Commonwealth Medicine has made vital
contributions to the committees work.
Substantive analytic support comes from
its Center for Health Law and Economics
(CHLE), with expertise from its Office
of Long-Term Support Studies, which
administers federally funded Community
First and Systems Transformation grants
in Massachusetts. The two groups
prepared a policy development framework
and background materials. CHLEs
explanation of Medicaids complicated
eligibility rules laid the foundation for
meaningful discussion, and when thecommittee delved into the public LTC
financing system, CHLE guided the
committee through available options.
We are proud to support the
Commonwealth, said Michael F. Collins,
M.D., Chancellor of UMass Medical School.
The involvement with the LTC Financing
Advisory Committee is reflective of the
long-standing, productive partnership
between Commonwealth Medicine and
the state.
Commonwealth Medicine solving long-term care puzzle
Presidents Report
The spirit of public service liesat the heart of the University ofMassachusetts experience
SERVICE TO THE COMMONWEALTH
Michael F. Collins, M.D.
Chancellor, UMass Medical School;
Senior Vice President for Health Sciences
The University of Massachusettsis a vital partner in the lives of alresidents of the Commonwealth.
This collaboration between the University and our greater society, throug
which goals and objectives are jointly developed, and expertise and resou
are shared, ensures that every resident has the opportunity to benefit from
education provided by the University and the new knowledge created her
University research is springing from the labs and classrooms of our campto reach people in every corner of the state. Over the past year, University
research has yielded dozens of start-up companies that require Massachu
workers to operate. These new companies give way to industry clusters th
the local economy.
In addition to its core mission, members of the UMass community contri
thousands of hours annually to the greater global community as well as o
local neighborhoods, cities, and towns. These service projects provide ben
to the community while enriching our society.
Projects run the gamut, from a reading enrichment program for English-
second-language school children run by the UMass Lowell basketball team
UMass Bostons Camp Shriver, a camp that brings together students with
without intellectual disabilities to engage in athletic activities.
Service to the Commonwealth is
the cornerstone of our mission.
It is what guides and inspires us
as we educate physicians and
nurses to care for our neighbors;
as we develop health policy that
saves taxpayers millions of dollars
through innovation; and as we
invest in research that preserves
Massachusetts status as a global
life-sciences leader.
Members of the UMass
community contribute
thousands of hours
annually to the greater
global community as well
as our local neighborhoods,
cities, and towns.
Above left: Senior
eaders from UMass
Medical School and
UMass Memorial
Health Care donned
gloves and pitched
n at the Great
Brook Valley Health
Center on the 2009
Day of Caring,
ponsored by United
Way of Central
Massachusetts
Above right:
Commonwealth
Medicine and the
Massachusetts LTC
Financing Advisory
Committee identify
uture financing for
elders and individuals
with disabilities
Photo credit: Robert
Carlin Photography
8/9/2019 2010 University of Massachusetts President's Report
10/15
SERVICE TO THE COMMONWEALTH
Research, teaching, and serving the greatergood are hallmarks of a University ofMassachusetts education. We are honoredto acknowledge the wealth of public serviceprovided by our star faculty members.
University of Massachusetts President Jack M. Wilson presented the2009 Presidents Public Service Awards to five worthy faculty m embers who
provide exemplary public service to the Commonwealth. Since 1997, these
awards have been given annually to faculty members of UMass Amherst,
Boston, Dartmouth, Lowell, and Medical School.
Our hard-working faculty members not only educate our students, they also
contribute much to our communities, our Commonwealth, and our world.
The energy one gets from even the simplest acts of giving is powerful
motivation, says Professor Matthew Roy, UMass Dartmouths recipient.
This years honorees are:
Mari Castaeda, Ph.D.
Associate Professor of Communications, UMass Amherst
Professor Castaeda is recognized for her role in the development of
university-community partnerships that benefit the growing Latino
community of Holyoke, MA, in areas of e ducation, economic development,
and housing. She is an ardent and energetic advocate whose work with the
Community Outreach Partnership Center (COPC) and Student Bridges
demonstrates the strength of her commitment to building reciprocal
relationships that dovetail with her work in media, cultural production,
policy, and pedagogy.
David G. Terkla, Ph.D.
Professor of Economics and Environmental, Earth, and Ocean Scienc
UMass Boston
Professor Terkla is recognized for the enormous impact he has made o
Greater Boston and the Commonwealth through his work identifying
new industry clusters and their influences on the Massachusetts econo
his research on transportation planning that helped to initiate signific
legislative and policy changes, and his work in fis heries and ocean
management. Dr. Terkla has established a highly resp ected body of wo
that is recognized by academics, practitioners, politicians, and leaders.
Matthew Roy, Ph.D.
Assistant Provost, Director of the Center for Civic Engagement, Schoo
Education, Public Policy, and Civic Engagement, UMass Dartmouth
Professor Roy is recognized for leading a five-campus collaboration toincrease the breadth and depth of community service learning perform
by University of Massachusetts students. He is also the architect of the
Leadership for Educational Attainment Developed through Service (L
program, designed to increase the civic engagement and leadership sk
Fall River and New Bedford public school s tudents.
Kay Doyle, Ph.D.
Professor, Program Director and Department Chair of Clinical and
Nutritional Sciences, UMass Lowell
Professor Doyle is a passionate advocate who has demonstrated a long
standing dedication to enhancing lives through developing strong partn
between science and the people who are influenced by it. As a scientist
global leader within the American Society for Clinical Pathology (ASC
she participates in the certification of medical laboratory professional
this country and is establishing standards for laboratory medicine acr
world. Dr. Doyles service and commitment know no boundaries.
Linda D. Sagor, M.D., M.P.H.
Associate Professor of Clinical Pediatrics, Division Director of Gener
Pediatrics, UMass Medical School
Professor Sagor, a compassionate pediatrician and ardent advocate for
children, is one of Central Massachusetts leading physicians. She is
committed to the care and welfare of children on multiple levels, from
promoting school breakfast programs to teaching medical students ab
importance of primary care. Dr. Sagor founded and directs FaCES, the
Children Evaluation Services Clinic, providing health assessments to f
excellent medical care for these vulnerable children.
Left: Mari Castaeda, Ph.D.
Right page, top to bottom:
David G. Terkla, Ph.D.
Matthew Roy, Ph.D.
Kay Doyle, Ph.D.
Linda D. Sagor, M.D., M.P.H.
8/9/2019 2010 University of Massachusetts President's Report
11/15
Represents endowmentand funds treated asendowment
ANNUALENDOWMENTDOLLAR VALUE
FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009
$400
$350
$300
$250
$200
$150
$100
$50
$0
200%
190%
180%
170%
160%
150%
140%
130%
120%
110%
100%
ENDOWMENT OVER 5 YEARSDOLLARS IN MILLION(S)
Roy J. ZuckerbergUMass Lowell 58UMass Foundation Treasurer andInvestment Committee Chairman
I have been honored to serve as the University of Massachusetts Foundation Investm
Committee Chairman for 10 years. This past year has tested the fortitude and skill of
individual and institutional investors alike. Despite the well-reported challenges of the
economy, at UMass we have relatively good news to report. I am pleased to share with yo
for one-, three- and five-year returns we outperformed the markets and our benchma
In Fiscal 2009, the UMass endowment ranked in the top quartile of American colleges
and universities on a relative performance basis, according to the National Association
College and University Business Officers. Based on market value change of -4.6 percent
University was seventh among endowments of $100 million to $500 million. At the clos
Fiscal 2009 (June 30, 2009), our endowment stood at $367 million.
Although the endowment investment performance was -15.5 percent for the fiscal ye
our relative performance was better than the average -18.7 percent among all univers
endowment portfolios.
The endowment is essential to advancing the mission of the University. Its ultimatepurpose is to invest in people who drive the success of the University. President Wilso
University Trustees, and the Chancellors have increased their commitments to financ
aid, and the endowment is a vital source of these funds. Since 2002, the University ha
increased total institutional financial aid by $64 millionan increase of 205 percent
In Fiscal 2009, UMass provided institutional aid totaling approximately $97.2 millio
met 92 percent of Massachusetts undergraduates financial need. With endowed fund
created by our many generous donors, scholarships, chairs, graduate fellowships, and
library funds are supported in perpetuity, enabling the University to recruit the highe
caliber students, and the faculty to advance knowledge and educate our students who
compete in and lead our g lobal economy.
When you give to the endowment, you invest in the University for today and for tomor
I am deeply grateful to my colleagues on the Investment Committee for their prudence
diligence in protecting and managing the endowment. We also benefit from the solid in
of our paid advisor, Victor Livingstone at Morgan Stanley. I join President Wilson and t
Chancellors in thanking the many alumni, parents, and friends who have become dono
The University cannot maintain its trajectory without your support, and I am proud to
among the stewards of your philanthropy.
$330
$381
$367
$260
-15%
3.8%2.5%
3.6%1.4%
11.02%
UMASS ENDOWMENT
The UMass endowment is an accumulationof funds, primarily gifts with donor-designated purposes, set aside and investedto support the Universitys teaching andresearch missions in perpetuity
COMPOUNDEDINFLATION
COMPOUNDEDEARNINGS
L ET T ER F RO M RO Y J . ZUCKERBERG
$222
10.38%
3.0%
$196
10.38%
2.2%
.92%
16.01%
To donate to the UMassFoundation, go to
www.massachusetts.edu/giving
8/9/2019 2010 University of Massachusetts President's Report
12/15
Statement of Net AssetsAs of June 30, 2009 and 2008(in thousands of dollars)
CurrentAssets
NoncurrentA
ssets
CurrentLiabilities
UniversityJune 30,
2008
UniversityJune 30,
2009
UniversityRelated
OrganizationsJune 30,
2009
Cash and Cash Equivalents
Cash Held By State Treasurer
Accounts, Grants and Loans Receivable
Pledges Receivable
Short Term Investments
Inventories
Accounts Receivable UMass Memorial
Due From Related Organizations
Other Assets
Total Current Assets
$ 38,453
10,965
199,583
1,002
212,483
14,387
4,138
111
32,603
513,725
$ 33,091
14,086
199,532
1,357
160,820
13,833
15,546
1,535
21,794
461,594
$ 22
8,237
806
16
9,081
Cash and Cash Equivalents
Cash Held By State Treasurer
Cash and Securities Held By Trustees
Accounts, Grants and Loans ReceivablePledges Receivable
Investments
Other Assets
Investment In Plant Net of Accumulated Depreciation
Total Noncurrent Assets
Total Assets
Accounts Payable
Accrued Salaries and Wages
Accrued Liability for Compensated Absences
Accrued Liability for Workers Compensation
Arbitrage Rebate Payable
Accrued Interest Payable
Bonds Payable
Capital Lease Obligations
Accounts Payable UMass Memorial
Due To Related Organizations
Deferred Revenues and Credits
Advances and Deposits
Other Liabilities
Total Current Liabilities
7,272
642,210
34,7491,854
420,234
13,209
1,919,915
3,039,443
$ 3,553,168
3,402
3,498
250,769
51
950
258,670
$ 267,751
$ 8,613
475,153
35,3292,028
513,392
12,824
2,068,485
3,115,824
$ 3,577,418
3,753
5,179
292,526
48
979
302,485
$ 310,829
$ 22
7,293
990
39
8,344
2009 CONSOLIDATED F INANCIAL INFORMATIONContaining financial information between the dates of July 1, 2008 and June 30, 2009
Presidents Report
UMASS FOUNDATION BOARD OF DIRECTORSThe University recognizes the following members of the UMass Foundation Board of
Directors, who served with distinction during Fiscal 2009 (July 1, 2008June 30, 2009)
OfficersJack M. Wilson, President *+
Edward H. DAlelio, 74, Secretary *
Roy J. Zuckerberg, 58, 99 H, Treasurer ^*
Katherine V. Smith, Executive Vice President and Chief Operating Officer,
University of Massachusetts Foundation
Public DirectorsRichard V. Aghababian, 74 M.D., term exp. 2011 +
Mark Atkins, 71, term exp. 2010 +
Douglas Cliggott, 78, term exp. 2010 *
Stephen A. Collins, 81, term exp. 2012 +
Edward H. DAlelio, 74, term exp. 2010 *
Joseph C. Day, 66, term exp. 2011
Stephen R. Dunne, 89, term exp. 2012 +
Grace K. Fey, 07 H, term exp. 2010 *Stanley L. Fung, 79, term exp. 2012 *
Maria D. Furman, 76, term exp. 2012 *
Warren J. Isabelle, 78 B.S., 81 M.S., term exp. 2010 *
John D. Kattar, CFA, 78 B.A., 82 M.S., term exp. 2011 *
James P. Pappas, 75 B.A., term exp. 2011 +
R. Norman Peters, J.D., 04 H, term exp. 2011
Mary L. Reed, term exp. 2012 +
Robert R. Reitano, 71, 72 G, term exp. 2012 *
Andrew T. Rudd, term exp. 2011 *
Robert K. Sheridan, term exp. 2010
Karl E. White, term exp. 2012 *
Roy J. Zuckerberg, 58 B.S., 99 H, term exp. 2011 *
University-Affiliated Voting Directors/Ex-OfficioMichael F. Collins, M.D., Chancellor, University of Massachusetts Medical School
Matthew C. Donahue, J.D., University of Massachusetts Lowell
Patricia C. Flaherty, 81, University of Massachusetts Boston
David J. Gray, Senior Vice President for Administration, Finance and Technology,
Treasurer, University of Massachusetts *
Robert C. Holub, Ph.D., Chancellor, University of Massachusetts Amherst
James R. Julian Jr., Executive Vice President and Chief Operating Officer,
University of Massachusetts *
Richard E. Lawton, J.D., Chairman, Committee on University Advancement
Stephen W. Lenhardt, Deputy Chief Operating Officer, University of Massachusetts *
Jean F. MacCormack, Ed.D., Chancellor, University of Massachusetts Dartmouth
Robert J. Manning, 84, Chairman, Board of Trustees, University of Massachusetts
Martin T. Meehan, J.D., 78, Chancellor, University of Massachusetts LowellJ. Keith Motley, Ph.D., Chancellor, University of Massachusetts Boston
Frank B. Sousa Jr., University of Massachusetts Dartmouth
Jack M. Wilson, Ph.D., President, University of Massachusetts ^*+
nvestment AdvisorVictor Livingstone , Morgan Stanley
^ Executive Committee members Investment Committee members
+ Governance and Audit Committee members
Board is reflected as of December 2009
Noncurrent
Liabilities
Accrued Liability for Compensated Absences
Accrued Liability for Workers Compensation
Arbitrage Rebate Payable
Bonds Payable
Capital Lease Obligations
Deferred Revenues and Credits
Advances and Deposits
Other Liabilities
Total Noncurrent Liabilities
Total Liabilities
N
Invested in Capital Assets Net of Related Debt
Restricted Nonexpendable
Restricted Expendable
Unrestricted
Total Net Assets
$ 91,550
64,835
67,375
3,125
956
9,912
127,291
8,251
3,056
990
61,400
8,552
68,061
515,354
$ 98,201
70,752
69,443
3,717
12,146
123,790
11,457
3,372
806
48,325
6,854
65,856
514,719
$ 177
1,535
6,243
7,955
$ 266
111
8,886
9,263
23,593
10,416
544
1,210,220
22,870
23,668
26,782
3,301
1,321,394
$ 1,836,113
3,025
3,025
$ 10,980
21,707
11,274
519
1,257,734
34,177
13,556
27,383
418
1,366,768
$ 1,882,122
3,636
3,636
$ 12,899
$ 1,094,306
16,699
156,649
473,651
$ 1,741,305
$ 950
225,549
41,033
(10,761)
$ 256,771
$ 1,027,045
16,605
161,732
465,664
$ 1,671,046
$ 979
212,017
77,192
7,742
$ 297,930
UniversityRelated
OrganizationsJune 30,
2008
From top to bottom:
UMass Dartmouth
marketing major
Kathleen Foley (10)
competing at the
Tripp Center; UMass
Lowell students; UMass
Boston alum and
violinist Andrew Kohji
Taylor; UMass Amhersts
top-ranked softball team
8/9/2019 2010 University of Massachusetts President's Report
13/15
Cash flows fromoperating activities
Cash flows fromnoncapital financingactivities
Cash flows fromcapital financingactivities
Cash flows frominvesting activities
Cash and cashequivalents
Reconciliation ofoperating loss tonet cash used byoperating activities
Supplementaldisclosure ofnoncash activities
Tuition and Fees
Grants and Contracts
Payments to Suppliers
Payments to Employees
Payments for Benefits
Payments for Scholarships and Fellowships
Loans Issued to Students and Employees
Collections of Loans to Students and Employees
Auxiliary Enterprises Receipts
Sales & Service, Educational
Sales & Service, Independent Operations
Sales & Service, Public Service Activities
Net Cash Used for Operating Activities
$ 516,757
490,169
(996,152)
(1,105,868)
(217,782)
(29,845)
(4,189)
3,744
261,869
25,428
103,842
589,985
(362,042)
($ 477,843)
140,392
(1,058)
554(1,608)
(11,092)
(4,330)
(4,116)
9,605
(2,963)
(2,299)
(7,284)
($ 362,042)
($ 549,672)
127,519
6,864
(1,104)(210)
118,087
(2,165)
(14,743)
12,082
5,478
(2,728)
(31,968)
($ 332,560)
State Appropriations
Tuition Remitted to the State
Federal Appropriations
Gifts and Grants for Other Than Capital Purposes
Private Gifts for Endowment Purposes
Student Organization Agency Transactions
Net Cash Provided by Noncapital Financing Activities
Proceeds from Capital Debt
Bond Issuance Costs Paid
Capital Appropriations
Capital Grants and Contracts
Purchases of Capital Assets and Construction
Principal Paid on Capital Debt and Leases
Interest Paid on Capital Debt and Leases
Use of Debt Proceeds on Deposit with Trustees
Net Cash Used for Capital Financing Activities
597,202
(47,107)
5,574
21,817
140
49
577,675
19,290
(113)
27,166
5,182
(120,653)
(76,429)
(58,375)
(178,115)
(382,047)
1,297,493
42,010
(1,341,046)
(1,543)
$ 28,090
(13,424)
(3,492)
(32,715)
$ 38,061
(7,560)
(10,649)
(45,745)
(167,957)
698,900
$ 530,943
180,888
518,012
$ 698,900
1,532,642
23,810
(1,674,343)
(117,891)
$ 494,210
483,167
(886,801)
(1,069,262)
(268,938)
(28,111)
(5,733)
4,253
232,694
25,230
87,052
599,679
(332,560)
673,134
(46,164)
7,099
22,675
1,557
151
658,452
393,037
(1,129)
20,246
1,250
(144,013)
(65,588)
(42,871)
(188,045)
(27,113)
Statements of Cash FlowsFor the Years Ending June 30, 2009 and 2008(in thousands of dollars)
Statements of Revenues, Expenses,and Changes in Net AssetsFor the Years Ending June 30, 2009 and 2008(in thousands of dollars)
Re
Ex
Ne
Tuition and Fees(net of scholarship allowances of $126,779at June 30, 2009 and $113,738 at June 30, 2008)
Federal Grants and Contracts
State Grants and Contracts
Local Grants and Contracts
Private Grants and Contracts
Sales & Service, Educational
Auxiliary Enterprises
Other Operating Revenues:
Sales & Service, Independent Operations
Sales & Service, Public Service Activities
Other
Total Operating Revenues
$ 458,439
318,288
72,034
2,507
99,342
20,657
231,306
65,588
363,041
57,618
1,688,820
$ 490,374
324,100
77,115
2,149
104,399
20,965
239,669
94,908
507,096
66,920
1,927,695
Educational and General
Instruction
Research
Public Service
Academic SupportStudent Services
Institutional Support
Operation and Maintenance of Plant
Depreciation and Amortization
Scholarships and Fellowships
Auxiliary Enterprises
Other Expenditures
Independent Operations
Public Service Activities
Total Operating Expenses
Operating Loss
548,850
342,109
68,807
130,29391,157
174,358
187,520
127,519
28,111
182,379
49,562
307,827
2,238,492
(549,672)
UniversityJune 30,
2008
UniversityJune 30,
2009
Proceeds from Sales and Maturities of Investments
Interest on Investments
Purchase of Investments
Net Cash Used for Investing Activities
Net increase/(decrease) in cash and cash equivalents
Cash and Cash Equivalents - Beginning of the Year
Cash and Cash Equivalents - End of Year
Assets acquired and included in accounts payable
Gain/(loss) on disposal of capital assets
Securities lending activity
Unrealized gains/(losses) on investments
UniversityJune 30,
2009
UniversityJune 30,
2008
UniversityRelated
OrganizationsJune 30,
2009
UniversityRelated
OrganizationsJune 30,
2008
540,479
358,659
67,989
125,60487,207
163,659
191,761
140,392
29,845
188,312
56,057
455,574
2,405,538
(477,843)
$ 13,443
20
544
14,007
(14,007)
$ 13,349
19
5,736
19,104
(19,104)
Nore(e
Federal Appropriations
State Appropriations
Gifts
Investment Income
Endowment Income
Interest on Indebtedness
Other Nonoperating Income
Net Nonoperating Revenues
Income/(Loss) Before Other Revenues, Expenses,Gains, and Losses
Capital Appropriations
Capital Grants and Contracts
Additions to Permanent Endowments
Disposal of Plant Facilities
Other Additions/Deductions
Total Other Revenues, Expenses, Gains, and Losses
Total Increase/(Decrease) in Net Assets
5,574
540,187
22,918
(9,284)
10,319
(55,252)
8,167
522,629
44,786
27,483
5,182
(8,553)
1,361
25,473
70,259
12,304
(11,189)
9,996
11,111
(7,993)
19,935
(928)
19,007
11,014
7,099
617,271
20,654
12,294
11,036
(45,846)
11,484
633,992
84,320
21,170
1,500
(10,462)
(10,458)
1,750
86,070
15,929
(50,324)
2,774
(31,621)
(45,628)
12,892
(16)
(8,407)
4,469
(41,159)
Net Assets at Beginning of Year
Net Assets at End of Year
1,671,046
$ 1,741,305
297,930
$ 256,771
1,584,976
$ 1,671,046
286,916
$ 297,930
Operating Loss
Adjustments to reconcile loss to net cash used by Operating Activities:
Depreciation and Amortization Expense
Changes in Assets and Liabilities:
Receivables, net
InventoriesDue to/from Related Organizations
Accounts Receivable/Payable UMass Memorial
Other Assets
Accounts Payable (non-capital)
Accrued Liabilities
Deferred Revenue
Advances and Deposits
Other Liabilties
Net Cash Used for Operating ActvitiesThese statements are drawn from the Fiscal Year 2009 annual financial report for the University of Massachusetts,
which was audited by PricewaterhouseCoopers.
For the Universitys full financial report, please visit www.massachusetts.edu/controller/finrpt.html
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UMass Amherst
27,016
UMass Medical School
1,091
State Support and UMass Revenues FY 2009UMass Economic Impact
UMass Dartmouth
9,302
EnrollmentFALL 2009
UMASS AT A GLANCE
MedicalAmherst Boston Dartmouth Lowell School Total
Undergraduate 20,873 11,041 7,982 10,548 NA 50,444(% Mass Residents) (80.7%) (91.3%) (95.7%) (86.0%) (NA) (86. 5%)
Graduate 6,143 3,871 1,320 3,054 1,091 15,479(% Mass Residents) (39.2%) (74.9%) (72.3%) (66.3%) (72.3%) (58.6%)
Total Students 27,016 14,912 9,302 13,602 1,091 65,923(% Mass Residents) (71.2%) (87.1%) (92.4%) (81.6%) (72.3%) (80.0%)
Total Faculty 1,492 964 588 714 1,143 4,901
Student and Faculty ProfileFALL 2009
Freshman Applications
Technology Commercialization
Invention Disclosures
Licenses CompletedLicense Revenue
Research & Development Expenditures
Amherst
Boston
Dartmouth
Lowell
Medical School
System
FALL 2009
48,564
FY 2009
167
43$72,051,000
FY 2009
$160,666,000
$47,028,000
$20,669,000
$56,664,000
$204,033,000
$489,060,000
UMass Lowell
13,602UMass Boston
14,912
Above
Dartmo
celebra
comme
Above
Boston
Studies
Paul At
Below:
perform
UMass
Theatre
StateInvestment
BillionsofDollars
4.5
4
3.5
3
2.5
2
1.5
1
0.5
0
$540M
Total UMassBudget
$2.5B
Total Impact ofUMass on the State
Total over $4B
UMass GeneratedOperating Revenue
78%
Net StateAppropriation
22%
All data in this report is from Fiscal Year 2009, the most recent available data for a complete fiscal year ending on June 30.
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Cert no. SW-COC-002508
A UMass Lowell gradua
enjoys the revelry at the
2009 commencement
Office of the PresidentUniversity of Massachusetts225 Franklin StreetBoston, Massachusetts 02110
617.287.7000
www.massachusetts.edu
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