Diversify & Increase Revenue

January 2017:

This objective is ranked green – as several of the initiatives and measures associated with it are green. The objective focuses on increasing net revenue via improved recruiting, fundraising, alumni involvement, and board action. It also focuses on decreasing reliance on tuition revenue.

  • Initiative to increase board giving is red due to board members rotating off of the board
  • Initiative to increase camp and conference revenue is green 
  • Initiative to study net tuition by program is yellow
  • Initiative to develop a $1 million unrestricted fundraising program is yellow
  • Initiatives to increase endowment and major donations are both green

For other goals and accomplishments related to this objective, see below.

Diversify & Increase Revenue

Learn how Malone University is diversifying and increasing its revenue.

  • Develop a robust and sustainable Annual Giving program that consistently returns over $1M in unrestricted funds to The Malone Fund (TMF)
  • Increase revenue and participation of alumni and other constituents via initiation or enhancement of our direct mail, crowdfunding, social media and phone-a-thon channels.
  • Increase alumni and parent engagement in support of philanthropic participation.
  • Academic summer camps
  • Grants received: Arts in Stark, Koch Foundation, Lilly/NetVue (Network for Vocation in Undergraduate Education)
  • Professional Tutoring Program
  • Increase offerings available online
  • Create scholarship protocol and system of stewardship for donors who have established endowed scholarships
  • Develop greater grant opportunities for Malone University
  • Increase support for inter-collegiate athletics through revenue growth in the Malone Sports Network (MSN), the Pioneer Classic and Pioneer Clubs
  • Community Tutoring of the Center for Student Success
  • Partnership with Learning House (2 year plan for online program delivery and increasing revenue)
  • Expand strategies for recruitment: Increase the size of the inquiry pool and improve the conversion rate to deposits through application generation (purchased more prospect names through Ruffalo CODY (RC) in our secondary markets and by academic interest. RC TAG program also assisted with email and direct mail campaigns, as well as calls to inquiries to gauge likelihood of application.
  • Improve strategies for recruiting and retaining undergraduate, graduate and non-traditional students, with various modes of delivery to increase net tuition and fee revenue [Measure: Increase in enrollment: 1) recover undergrad incoming class to 400 and achieve net growth of 2%% annually; 2) Grad program net growth of 2%; 3) Degree Completion 3-5% ;and improve total retention rate by 10%) by Fiscal Year 2020]
  • Change in operations within GPS: new staff (training with sales orientation), new processes, new hours, all meant to better serve adult students
  • Develop plan to review and project net tuition dollars for each program; analyze the contribution margins and review profitability [Measure: Net revenue increase > increase in operating expenses over the next three years]
  • Increase the annual fund and achieve capital campaign goals through aggressive fundraising, alumni involvement, and board action [Measure: 105% Annual Fund achievement; 5% over industry standard for alumni giving; 100% BOT giving participation; Increase aggregate BOT giving 10% per year]
  • Create a plan/document with descriptions and definitions in line with industry standards (private HE) [Measure: Definition of and increase in major gifts)

Decrease the reliance on tuition revenue through other revenue opportunities such as facility rentals, dormitory maximization, academic and sports camps, speakers’ bureau [Measure: Decrease from 83% tuition dependence to 75% by 2020]

Previous Quarterly Updates:

July 2016:

This objective is ranked yellow – as many of the initiatives associated with it are yellow. The objective focuses on increasing net revenue via improved recruiting, fundraising, alumni involvement, and board action. It also focuses on decreasing reliance on tuition revenue.

  • Initiative to increase board giving is green
  • Initiative to increase camp and conference revenue is green 
  • Initiative to study net tuition by program is green 
  • Initiative to develop a $1 million unrestricted fundraising program is yellow
  • Initiatives to increase endowment and major donations are yellow