Rensselaer Polytechnic Institute (RPI)

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Financial

Financial Resources

  • Addressed and improved every key enabling process, through careful planning and disciplined financial management.
  • Initiated new graduate tuition and student support policy.
  • Developed and implemented new performance/activity-based budget process.
  • Financed The Rensselaer Plan and other initiatives through series of $500+ million actual and planned new borrowings.
  • Implemented more diversified endowment strategy, resulting in top quartile return for FY2007 (22%) and three-year return of 17%.
  • Outsourced internal audit function.
  • Centralized financial management structure.
  • Restructured research administration.
  • Increased research overhead recovery rate by 10%.
  • Re-engineered Institute procurement process.
  • Implemented on-line e-Procurement system.
  • Implemented new Travel Management system.
  • Attracted $22.5 million in New York State funding for equipping the Center for Biotechnology and Interdisciplinary Studies.
  • Tripled overall research awards to $100 million in FY2012.
  • Increased National Institutes of Health (NIH) research funding from $400,000 in 1999 to more than $31 million in 2008.
  • Increased research expenditures to $104 million (FY2019).
  • Defined focal areas in Biotechnology and Information Technology for strategic investment.
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Fundraising

  • Kicked off the $1 billion Transformative: Campaign for Global Change in October 2017.
  • Secured a $360 million unrestricted gift to the university (2001), launched the $1 billion Renaissance at Rensselaer campaign (2004). Expanded the goal of the campaign to $1.4 billion and extended the time frame to June 30, 2009 when the initial goal was met earlier than anticipated with the announcement of an in-kind contribution commercially valued at approximately $514 million from the Partners for the Advancement of Collaborative Engineering Education (September 2006). The campaign exceeded the goal of $1.4 billion on October 1, 2008, surpassing all previous fundraising.
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