AVE MARIA UNIVERSITY INC
Mission Statement
Our Mission Statement Founded in fidelity to Christ and His Church in response to the call of Vatican II for greater lay witness in contemporary society, Ave Maria University exists to further teaching, research, and learning at the undergraduate and graduate levels in the abiding tradition of Catholic thought in both national and international settings. The University takes as its mission the sponsorship of a liberal arts education curriculum dedicated, as articulated in the apostolic constitution Ex Corde Ecclesiae, to the advancement of human culture, the promotion of dialogue between faith and reason, the formation of men and women in the intellectual and moral virtues of the Catholic faith, and to the development of professional and pre-professional programs in response to local and societal needs. As an institution committed to Catholic principles, the University recognizes the importance of creating and maintaining an environment in which faith informs the life of the community and takes expression in all its programs. The University recognizes the central and indispensable role of the Ordinary of the Diocese of Venice in promoting and assisting in the preservation and strengthening of the University’s Catholic identity Our Mission Statement Founded in fidelity to Christ and His Church in response to the call of Vatican II for greater lay witness in contemporary society, Ave Maria University exists to further teaching, research, and learning at the undergraduate and graduate levels in the abiding tradition of Catholic thought in both national and international settings. The University takes as its mission the sponsorship of a liberal arts education curriculum dedicated, as articulated in the apostolic constitution Ex Corde Ecclesiae, to the advancement of human culture, the promotion of dialogue between faith and reason, the formation of men and women in the intellectual and moral virtues of the Catholic faith, and to the development of professional and pre-professional programs in response to local and societal needs. As an institution committed to Catholic principles, the University recognizes the importance of creating and maintaining an environment in which faith informs the life of the community and takes expression in all its programs. The University recognizes the central and indispensable role of the Ordinary of the Diocese of Venice in promoting and assisting in the preservation and strengthening of the University’s Catholic identity.
Financial Overview — FY 2023
Compared with Peers
FY 2023| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
83.3% | 84.4% |
P10P90
|
Below median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
12.0% | 13.5% |
P10P90
|
Above median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
4.7% | 0.7% |
P10P90
|
Bottom quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
2859.8% | 631.2% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
31.8 mo | 10.9 mo |
P10P90
|
Top quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
24.6% | 34.2% |
P10P90
|
Above median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
69.6% | 87.3% |
P10P90
|
Top quarter |
|
Revenue growth
Year over year revenue growth
|
-3.9% | 4.8% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
5.4% | 8.5% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
3.4% | 2.7% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2023 | $72.6M | $70.1M | $186.1M | 83.3% | 915 |
| 2022 | $75.5M | $66.5M | $181.5M | 85.2% | 848 |
| 2021 | $61.7M | $54.9M | N/A | — | 947 |
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