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NDC Strategic Plan

A Financially Stable & Strong Future

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Strategic Initiative #2: Notre Dame will establish a sustainable financial model to assure a strong future beyond its centennial

Introduction

Notre Dame College will continue to be heavily dependent on undergraduate tuition in its financial model. However, this dependence can be lessened through the diversification of revenue streams, focus on retention and the implementation of new programs and activities to promote growth in undergraduate, graduate, and continuing professional education. At the same time, the college will continue to implement best practices related to higher education finance, but it should also borrow from other industries best practices that may enhance the finance operations of the college. The college will continue to look for operational efficiencies as a good steward of institutional resources. The role of philanthropy must be increased to support Notre Dame students, operations, endowment, and the physical needs of the campus.

Application

Recruitment/Enrollment

Objective 1: Notre Dame will strengthen and solidify its recruitment model for traditional-aged students to enroll a minimum of 1,000 and a maximum of 1,400 students while maximizing net tuition revenue.

Growth

Objective 2: Notre Dame will create a campus culture which encourages and maximizes creative thought for continued growth in revenue and sustainability.

Objective 3: Expand opportunities through the Office of Professional Development.
Objective 4: Expand opportunities for graduate and online students to enroll. (24-25)

Philanthropy

Objective 5: Strengthen and expand the role of philanthropy supporting the short- and long-term financial health of the college.

Objective 6: Launch a Centennial Campaign focused on scholarship & capital projects.

Objective 7: Prepare for the future by growing the endowment.

Management/Operations

Objective 8: Strength its financial operational practices to maximize use of resources.
Objective 9: Conduct a Campus Enhancement Plan to best determine what physical investments will bring the greatest near-term revenue enhancement.

Objective 10: Notre Dame will invest in our greatest asset, our faculty and staff, in becoming a great place to work in Northeastern Ohio.

Objective 11: Become a vibrant center for community engagement to strengthen and expand reputation and to generate revenue through campus rentals, camps, and related activities.

Outcomes & Measures

5

Improved student satisfaction as measured by NSSE and retention – possibly investigate using SSI (Student Satisfaction Inventory) data as well.

5
Balanced and healthy operating budget.
5
Expanded revenue year over year.
5
Increased use/rental of campus facilities.

Investments Required

Financial Aid Optimization $67,000

Campus-Enhancement Project $65,000

Centennial Capital Investing $750,000

Return on Investment

30% growth in total revenue over five years (estimate)

Dive Deeper

Download the full Strategic Plan to learn more about NDC’s action plan for each objective.