The Journey Begins?
As PCOM's new president, Matthew Schure, PhD, instituted a campus-wide process to develop a Strategic Plan for our College. Approved by the Board of Trustees and prioritized by each department, the strategic plan is making PCOM stronger through realization of its goals.
Despite strong, conservative financial management, PCOM faces many significant challenges.
Government support of higher education is increasingly unreliable. There are no guarantees that the College will always receive a state appropriation, though we work hard to obtain it each year.
With the help of this Five-Point Plan, PCOM has been able to lower the rate of tuition increase from its 2002 level of almost 10% to 3.5% this year. We must continue to find means of keeping tuition increases to a minimum, thereby reducing the burdens on our students.
The Journey Continues?
PCOM is committed to pursuing every path possible to meet these challenges. To that end we present The Five-Point Plan for Meeting the Financial Challenges at Philadelphia College of Osteopathic Medicine.
1. Unrestricted Annual Fund. This campaign continues to be the most direct way to raise significant, reliable, flexible funds for PCOM. With the strong support of volunteer alumni class agents, individual alumni, trustees, PCOM faculy, staff and friends, we increased the Unrestricted Annual Fund from its 2003 level of $263,000 to $733,000 last year. This is the year we plan to raise One Million Dollars for the Unrestricted Annual Fund.
2. Georgia Campus and Graduate Programs. PCOM welcomed the second class of 86 DO students in August 2006 to the new branch campus in suburban Atlanta, Georgia. Over 80% of the accepted students are residents of Georgia or nearby southern states. PCOM also continues to build its non-DO graduate programs on both campuses, offering programs in biomedical sciences, physician assistant studies, forensic medicine, clinical psychology, school psychology, and organizational development and leadership.
3. Real Estate Development. The College is in discussions with adjacent ABC TV network to sell a small parcel of land.
4. Clinical Partnerships. PCOM is looking into potential partnerships with other institutions and area governments.
5. School-as-Lender Student Loan Program. In 2004, the College sponsored a program that provides less expensive loans for our students, additional scholarship funds, and additional income for the College. The response from our students has been excellent, with 80% participating. Now entering its third year, this program nets more than $1 million for student scholarships.
How your generous investment of unrestricted funds will be used this year. . .
We are fortunate at PCOM to have a distinguished faculty. It is extremely important that our Dean have flexibility in recruiting notable faculty to further enhance the academic and clinical experience for our students. Funds for the Unrestricted Annual Fund will enable the Dean to recruit and maintain clinical faculty to strengthen the third- and fourth-year clerkships of our students. These funds are dedicated to assuring that our students in clinical environments will receive high quality educational experiences.
PCOM has an increasing need for seed money to support new opportunities in research and education. Funds from last year's successful campaign supported OMM research, providing critical funding between external grant funding periods. Funds from the Unrestricted Annual Fund will support PCOM research activities this academic year.
As the choices in medical careers become more complex, our students need and expect increased student services support. They seek guidance in their choice of study from day one of their first year. Funds from the Unrestricted Annual Fund will continue to support the expanded Student Services Department, including a new position of Career Counselor.
Join our Journey. . . Help us to reach $1 million this year
With your help, we will reach our Million Dollar goal this year and for future years. As a graduate of this College, you continue to play a vital role in its future. Your annual gift will help us to succeed with this ambitious and critical mission. PCOM relies on the continued growth of the Unrestricted Annual Fund to support the programs described above, and other academic needs that arise. We are asking all of our alumni, as well as our own trustees, faculty, administrators and employees, to make an investment in your College's future by making a commitment to the Unrestricted Annual Fund. These funds will allow the College's leadership more flexibility in funding projects and opportunities deemed critical to meeting PCOM's mission. Can we count on you?
Thank you for your consideration of this crucial request!