2011 Annual Report Trinity Lutheran College

Lutheran Bible Institute of Seattle

1.800.843.5659 | www.tlc.edu2802 Wetmore Ave. | Everett, WA 98201

This has been a great year! I want to begin by thanking you for your continued support, prayers, and hopes for the ministry and education off ered at Trinity Lutheran College. We appreciate your faithfulness, which continues to be a central component of what makes this institution special.

I am delighted to be your president. As my fi rst year comes to a conclusion, I am thankful to be part of this ministry. We fre-quently see God at work in the lives of our students and within our staff and faculty as they diligently carry out their work and service within the Everett community. We continue to produce graduates who serve Christ, the Church and the world.

We are moving, changing, and growing with the grace of God and through His spirit, and you are essential to our ministry through your continued prayers and fi nancial support.

God bless,

ACADEMICSNew Academic Programs. Our accrediting body recently ap-proved new majors in Visual Communications and Theology & Philosophy, which are both now accepting students.

Spiritual Leadership. In February, we welcomed the Rev. Erik Samuelson to the new position of Campus Pastor and Director of Spiritual & Vocational Formation. He has given leadership to our chapel worship and to the spiritual and vocational formation components of our Trinity Core Curriculum. He was installed at our Baccalaureate service by Bishop Chris Boerger of the ELCA Northwest Washington Synod.

Rooftop Garden. We have received a number of grants to develop a rooftop garden atop the parking garage, including a 2.5 kilowatt-hour solar array panel. The garden includes a veg-etable garden, flowers and trees, a greenhouse, and a children’s learning and play area.

January Term. Our one-month interim continues to be a highlight for many students, whether taking courses on campus or embarking on international trips (student Melissa Foltz in Tanzania, below). Next year’s offerings include three courses travelling to the United Kingdom.

STUDENT LIFEIntercollegiate Athletics. In fall 2010, we launched a successful first season of both men’s and women’s soccer. In fall 2011, we will add men’s and women’s cross country and golf programs.

Improving Retention. We have made student retention a priority by upgrading student housing, expanding campus employment, adding athletics programs, and innovating a new “EPIC” program to connect students to local arts and entertainment options.

ENROLLMENTGrowing Student Body. In fall 2010, we welcomed 70 new students, with 22 students joining in the spring, pushing our student population to the highest level in 13 years.

Changing Demographics. In the past three years, our student body has become increasingly diverse – in terms of age, ethnic background, and religious affiliation.

Act Six. In fall 2011, we will be honored to welcome five stu-dents through our participation in the Act Six Leadership and Scholarship Initiative. Students were carefully selected for their potential as future urban community leaders.

Financial Aid. We are aware of the rising costs of higher educa-tion amid economic uncertainty. Approximately 95% of our students receive some form of institutional financial assistance, but the average debt of our graduates is $31,000.

DEVELOPMENT & COMMUNICATIONSMajor Gifts. In the past two years, we have received a number of sizeable estate gifts to support our mission. We are grateful for the generosity of these faithful donors.

Alumni Relations. Our relationship with alumni remains a priority and we are developing matching gift opportunities to increase alumni giving, which remains lower than the national average.

Midwest Visit. President Reed embarked on a week-long visit to Illinois and Minnesota to meet alumni, donors, and friends, and to visit the former LBI-Minneapolis campus.

In the News. We have enjoyed frequent local media coverage for college-related events, especially related to athletics, the rooftop garden, and our new president. In May, Everett’s The Daily Herald published an editorial praising the college for its positive presence in the community.

LEADERSHIP & GOVERNANCEPresidential Inauguration. In October, we installed John W. Reed as the college’s seventh president (see photo below). A number of community leaders participated, including U.S. Congressman Rick Larsen and Everett Mayor Ray Stephanson.

Strategic Plan. In February, the Board of Directors adopted Light on a Hill: A Strategic Plan for Trinity Lutheran College. The three-year plan includes initiatives to grow enrollment, expand academic programs, retain students, and strengthen the col-lege’s financial resources.

Board Leadership. In May, the Board of Directors elected Deborah Squires as their new Chair, to replace Ernie Fosse (’64). The board elected Dr. Dale Soden as Vice Chair, Twyla Lucas (’72) as Secretary, and re-elected Paul Onerheim as Treasurer.

FINANCEImproving financial situation. We ended the 2010 fiscal year with a $737,639 deficit (see charts at right), a marked improve-ment from the previous year. Increasing enrollment, steady gift income, and careful planning continue to improve our overall financial condition.

Trinity Lutheran College & Trinity Education Foundation Consolidated Statement of Financial Activities

Fiscal year ended June 30, 2010

REVENUES

Academic and student services $1,515,763

EXPENSES

Gifts and grants $1,818,879

Tuition and fees $1,056,717

Auxiliary enterprises $429,766

Other revenue $693,127

Total revenues $3,998,489

Administration $392,382

College advancement $928,224

Plant, auxiliary, and other expenses $1,899,759

Total expenses $4,736,128

Consolidated Statement of Financial Position June 30, 2010

ASSETSCash and other assets $2,262,694

Land, buildings, and equipment (net) 16,327,411

Total assets 18,590,105

LIABILITIES AND NET ASSETSLiabilities:

Notes payable 2,135,511

Other liabilities 1,441,442

Total liabilities 3,576,953

Net assets 15,013,152

Total liabilities and net assets 18,590,105

FUTURE POSSIBILITIESSeveral key strategic initiatives will be considered during the 2011-12 academic year:

• Consider a new academic major in the area of the sciences

• Continue to improve programs and services in student life, with consideration for intramural athletics programs, club sports, career/vocational counseling, and student activities

• Initiate a process to consider three-year undergraduate degree programs

• Improve faculty and staff benefits, compensation, and profes-sional development

To view our strategic plan, visit www.tlc.edu/strategic, or contact the President’s Office at 425.249.4747 for a printed copy.