(July 31, 2013)
Centenary ends fiscal year on high note
SHREVEPORT, LA — Centenary College ended their fiscal year on June 30 with a high level of donor support amid an uncertain economic climate. The college raised a total of $6,585,000, including over $4 million in unrestricted contributions toward the Centenary Fund for Student Scholarships.
"I understand and appreciate all that Centenary did to support me as a student and a developing leader," said Angie White '93, Alumni Association President. "I want to ensure that continues to happen for as many students as possible, which is why I support the college and encourage others to do the same."
The College's success comes at a time of declining giving among American higher education institutions. According to the Council for Aid to Education, giving declined from 2011 to 2012 at 47.2 percent of institutions in the country. Moody's Investors Service also recently announced a negative outlook for the U.S. higher education sector.
"Our supporters are committed to Centenary's continued strength, and our annual giving total is a tangible sign of that support," said Fred Landry, Associate Vice President for Advancement. "While the books aren't closed yet, we are optimistic about balancing the operating budget for a fourth year in a row. This is no easy feat amidst the recent economic climate."
Centenary's financial position continues to be strong. Forbes gave the college an "A" grade for financial health in its recent national ranking — the highest grade of any private Louisiana college. In January 2012, Centenary was recognized in the top 20 percent of financially sustainable institutions, while one-third of colleges and universities were said to be on an "unsustainable path." In addition, Centenary's endowment ranks in the top 50 in the country on a per-student basis.
Centenary's annual giving campaign included a $1 million gift from the Steger family, which established the William E. Steger Centenary Endowed Chair in Entrepreneurship and Free Enterprise, and a $1 million matching grants from the Louisiana Board of Regents for several endowed professorships.