Annual Report to Investors - The American College

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A Decade of Progress What a difference a decade makes! In ten years, a lot has changed about The American College. Major progress has been made in the area of academics, from new designations, to new centers, to a groundbreaking new Ph.D. program. The College has also made advances in terms of its financial strength and stability. In 2010, the board also approved the $50 million campaign, “One Person: Transforming Lives with The American College.” With support from more alumni and corporate partners than ever before, The College has reached more new heights in the last decade than ever before. Financial Strength Michael C. Davidson, MSM, CLU ® , CAP ® “Dr. Barton has had an immeasurable positive impact on The College. During his period of leadership, he has guided the institution to a level that is the envy of all financial services educational institutions. Dr. Barton has been a significant change agent. The changes he put into place will have a lasting, positive impact for many years to come,“ said Mike Davidson, MSM, CLU ® , CAP ® immediate past president of the Board of Trustees. Davidson was appointed Acting President of The College early in 2014 while the search for Dr. Barton’s replacement is launched. Permanently Restricted Net Assets Temporarily Restricted Net Assets Unrestricted Net Assets Liabilities In the last 10 years, under Dr. Barton’s leadership, there has been consistent, impressive growth of both total assets and net assets. The uptick in 2007 reflects the monetization of the campus and the downturn in 2008 reflects market downturns impacting The College’s investment portfolio value. The liabilities are the gap between the two lines. This shrinks noticeably with the sale of the campus and the retirement of the long-term bond debt in 2007. To further illustrate the improved financial state of the College, this chart reflects the change in this side of the balance sheet comparing 2002 to 2013. In addition to the growth in equities from about $32 million in 2002, to about $90 million in 2013, liabilities also declined during this period. 2005 2 Alumni Association Started The American College creates an organization to support the education and careers of 150,000 alumni in 2005. Sal Farina, CLF, CLU ® , ChFC ® , MSM is our first president. The Wealth Channel ® Launched Dr. Barton creates a model to capitalize on our digital knowledge assets. This free online source of video-ondemand services began providing students and alumni with interviews of industry thought leaders on a variety of relevant topics.
The Legacy of Dr. Barton—In Their Words Todd M. Schoon, JD, CLU ® , ChFC ® Chairman, The American College Board of Trustees “The College has accomplished so much over the last 10 years under Dr. Barton’s leadership. He has put The College back on the map. He has both kept us engaged with traditional companies, and expanded our scope to all of financial services—all while keeping us aligned with Solomon Huebner’s vision and grounding us in our purpose. Ultimately, everyone has benefitted, most especially the consumer. I’ve been continually reminded while serving as Trustee Board Chair of how his presence and persona pull people toward him. His personal charisma and deep conviction regarding the mission of The College are contagious. As Chancellor of The College, he will be in position to do what he does best – share the story of The College broadly with more people, without being encumbered with the demands of day-to-day operations. Elevating him to Chancellor plays to Dr. Barton’s strengths. There is every reason for a great sense of confidence that The College will continue to move forward in a positive way without missing a beat. “ Frederick J. Sievert, MSM Life Trustee, The American College “Larry unselfishly gives me way too much credit for turning around the institution in 2006 and 2007. The truth is he deserves the credit. Leading a very able staff, he was the one who developed the long term vision and strategies, and executed them skillfully over the past decade. He transformed The American College into the citadel of education and learning for our industry. And he took what appeared to be a dying institution and made it extraordinarily relevant once again. All of us in the industry owe him a debt of great gratitude.” Reginald N. Rabjohns, CLU ® , ChFC ® Campaign Chair, The American College Foundation Board of Directors “Larry is highly motivated to perform at superior levels, and he has! He didn’t come from the insurance or financial services business. His training, knowledge, prejudices, and beliefs about our business and the people and companies that make it work were not identical, nor traditional for the majority of us, making his presidency and his achievements, I believe, the most important in our College’s history since Dr. Huebner opened the doors in 1927. He is a leader, inspirational and visionary, not held back by ‘this is how we’ve always done it!’ He has built a great team of professionals, and a powerful and diverse Board of committed leaders. He also just happens to be a great guy.” Peter C. Browne, LUTCF Chairman, The American College Foundation Board of Directors “I can sum it up in one word: legacy. He has a legacy and that is The American College. He has transformed it. From the time he came on board, The College took an entirely different turn. He had no idea how grave the financial situation was. He managed to pull everyone together to come to a common agreement. He consolidated things. He got people to do things they hadn’t done before. He put together a strong team and got the board engaged. And he stayed for the long haul, bringing The College into the modern era of financial services education. His wife, Eliza, has complemented his involvement, and that’s been very, very important. With him at the helm, The College is recognized in the industry as a strong educational institution with an endowment that now has a value in excess of $100 million. “ 2006 Diversity Matters First held in 2006 with founding sponsor MetLife, the Conference of African American Financial Professionals brings together leading companies from across the industry to further the education, advancement and heritage of African American financial professionals. 3
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