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"Sing the Calvin alma mater in the shower."—Class of '52 
President's Report 2002
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Financial Summary

Assuring a Legacy

In 1992, Calvin employee George Kuiper established a scholarship fund in honor of his parents, Ken Kuiper, Calvin professor emeritus, and Lillian Kuiper, a former elementary teacher and Calvin staff member. Upon Ken's death in 1998, several others made generous gifts to the scholarship in his memory. Thanks to these faithful Calvin donors, the Kenneth and Lillian Kuiper Scholarship now annually provides a substantial scholarship ($3,300 in 2001-2002) that helps make Calvin more affordable for a deserving student. The Kuiper fund is just one of almost 300 endowed scholarships, each with a personal story, that provides a tangible legacy for Calvin students.

While scholarships are understandably popular, Calvin friends have established many other kinds of endowments over the years: funds for lectureships, library acquisitions and operations, endowed chairs and fellowships, disabilities counselors, faculty research, science equipment and more. Each endowment helps assure Calvin's legacy of excellent faculty and facilities while remaining affordable for students.

Thanks to the foresight of past donors, spendable income from our endowment totaled $3,095,500 in 2001-2002. A great beginning, but more should be done if we are to reduce our reliance on tuition increases and on an often volatile economy. To compete with other quality schools for students and top-notch faculty, and to ensure Calvin's future, the college must increase its level of endowment funding. We are confident that our alumni and friends will help us meet that challenge.

 

 
Unrestricted Budget 2001-2002

Unrestricted Budget 2001-2002

 

  • Salaries and Wages $29.5 million
  • Benefits $12.4 million
  • Food Contract $5.6 million
  • Other $19.8 million
  • Total: $67.3 million
Unrestricted Sources of Revenue 2001-2002

Unrestricted Sources of Revenue 2001-2002

 

  • Room and Board $10.9 million
  • Bookstore $2.7 million
  • Denominational Ministry Shares $2.8 million
  • Operating Gifts $2.6 million
  • Net Tuition and Fees $45.8 million
  • Other Revenue $2.5 million
  • Total: $67.3 million
Endowment Assets per Student

Endowment Assets per Student

 

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