St. Thomas is a financially strong university that has successfully weathered challenges such as the recession and fluctuating graduate enrollment in recent years to maintain a balanced budget, increase its net assets and endowment, and physically transform its St. Paul campus.
St. Thomas has a stable bottom line. In the past five fiscal years, net assets have increased 10 percent, to $732 million, with endowment net assets increasing to $408 million. Investment returns dropped in FY08 and FY09 because of the impact of the recession, but rebounded with +12 percent and +24 percent performances the last two years.
Bonds payable have increased from $157 million in FY07 to $281 million in FY11 because of the need to borrow funds for construction of the Anderson Student Center ($66 million), the Anderson Athletic and Recreation Complex ($52 million) and the Anderson Parking Facility ($15 million). Fund-raising for those three projects has reached nearly $120 million, and a separate budget has been established to make principal and interest payments from gifts, invested income and revenue generated from the facilities.
Moody’s has rated the university’s bonds at A2. The university is near its debt capacity at this time but expects relief over the next several fiscal years as assets grow and debt service payments ($22.5 million in FY12) are made.
A summary Statement of Activities with information for the last five fiscal years, and projections for the fiscal year ended June 30, 2012, is available to candidates upon request.