Back in the black: University of Dallas ends year with surplus

0
312

Bridget Lewis, Contributing Writer

 

 

When President Thomas Keefe came to the University of Dallas in 2010, he came up with a three-year plan to get the university out of debt. For the past three years, the university has not lost any money. Last year, UD was out of the red and in the black, with a little over $4 million. For the first time in years, all four colleges — The Satish & Yasmin Gupta College of Business, the Braniff Graduate School, the School of Ministry and the Constantine College of Liberal Arts — experienced profit.

According to Dr. John Plotts, vice president of enrollment and student affairs, one of the biggest contributing factors to the university’s surplus of wealth was the AACSB-accreditation for the College of Business.

“The College of Business has been extremely successful this last year,” Plotts stated.

Less than five percent of business programs in the world are accredited by AACSB. Therefore, since 2012, the University of Dallas’ business program has been recognized as one of the best in the world.

For the first time in years, all four colleges at the University of Dallas saw a profit. President Keefe, whose office is in Carpenter Hall, has implemented a plan since his arrival in 2010 to get UD out of debt. -Photo by Rebecca Rosen
For the first time in years, all four colleges at the University of Dallas saw a profit. President Keefe, whose office is in Carpenter Hall, has implemented a plan since his arrival in 2010 to get UD out of debt.
-Photo by Rebecca Rosen

Economic fortune and a rising economy have played roles as well.

“We have had some oil and gas leases that people had in different states as part of their trusts that ended up giving us some money,” Plotts stated.

There have also been fundraising efforts to bring in more money. According to Plotts, parents and alumni have generously donated to the university. The new College of Business building, predicted to open in fall 2015, was made possible by the $12 million donation by Satish and Yasmin Gupta, graduates of the university’s MBA program.

President Keefe has since made it a priority to increase all faculty salaries. He has also made market adjustments for underpaid workers. He has been working with staff to get expendables under control.

With $4 million as the operating budget, UD still has roughly $20 million in deferred maintenance items —units and sewer lines — that need to be replaced. With the capital we now have, we can begin investing in these items.

The University of Dallas is getting more attention and recognition across the nation, and more students are interested in attending UD. Increased college recruitment is bringing in more students. With all these efforts to bring in more capital, the administration is hopeful that the University of Dallas will stay in the black for years to come.

LEAVE A REPLY

Please enter your comment!
Please enter your name here