Financial Highlights from the Chief Financial Officer
Angela Blanton, Vice President for Finance and CFO
I am pleased to present Carnegie Mellon University’s audited financial statements for fiscal year ended June 30, 2017. As Carnegie Mellon continues to transform society and carry out our Strategic Plan 2025 goals and priorities, we are proud to highlight significant accomplishments that allow the university to maintain and expand its influential role in the region, nation and world through continual innovation in education, research, creativity and entrepreneurship.
Investment Highlights from the Chief Investment Officer
Charles A. Kennedy, CIO
Carnegie Mellon University’s endowments were gifted to the university to serve as a key contributor to the institution’s long-term mission. Providing a permanent and consistent source of funding, the endowments enable Carnegie Mellon to pursue research and education initiatives, including sponsoring student scholarships, that would not otherwise be available. Consequently, keen university stewardship of these funds is essential.
Transformative Impact on Our Campus and the World
From the intimate social and learning settings on campus improved by our Uplift Program to the global reach of The White House Frontiers Conference, 2017 has been a year of great impact. As we stay focused on our key initiatives, we see stories emerge every day that prove CMU to be a world leader in education and research as we develop the next generation of leaders.
Presidential Fellowships & Scholarships
These endowment funds and commitments support current and future classes of Presidential Fellows and Scholars across all seven CMU schools and colleges.
By lowering the barriers of the cost of attendance for undergraduates and reducing the dependence on external funding sources for graduate students and faculty to pursue their research, endowed fellowships and scholarships will help ensure that CMU remains a world-leader in education and research for decades to come.
Carnegie Mellon Marks Launch of Swartz Center for Entrepreneurship
The Swartz Center for Entrepreneurship at Carnegie Mellon University was formed with support from a $31.0 million gift in fiscal years 2014 and 2015 by venture capitalist James R. Swartz.
The center's launch this year comes as the university builds considerable momentum as a leader in new technologies, artistic creativity, learning engineering and transformational discoveries at the crossroads of different academic fields and disciplines. Startup activity among the university's faculty, students and alumni has been robust, with 38 companies created in FY17.
CMU, ANSYS Break Ground for New Maker Hub
Carnegie Mellon University and ANSYS broke ground for a building that will become the hub of the College of Engineering's undergraduate program. ANSYS, an engineering simulation software company, is partnering with CMU to build the 30,000 square foot facility on CMU's campus near Hamerschlag Hall.
Carnegie Mellon Receives $10 Million From K&L Gates To Study Ethical Issues Posed by Artificial Intelligence
As the ethical and policy issues surrounding artificial intelligence and other computing technologies take center stage, global law firm K&L Gates LLP has made a gift to help ensure Carnegie Mellon University’s leadership in this emerging field.
The $10 million gift will support new faculty chairs as well as three new Presidential Fellowships for doctoral students; a biennial conference; the K&L Gates Presidential Scholarship Endowed Fund to recognize undergraduate students’ outstanding achievements and potential for further excellence; and an annual K&L Gates Prize to be awarded to a graduating CMU senior.
PwC Invests $11 Million in New Innovation Center at Carnegie Mellon
PwC U.S. and Carnegie Mellon University announced the establishment of the Risk and Regulatory Services Innovation Center, which will advance how businesses use technology to solve organization-wide issues and address compliance requirements.
Leveraging PwC’s client engagement experience with CMU’s world-class research, faculty and students, the center will support and perform education and non-federal research in risk and compliance-related issues across sectors, specifically audit innovation, data analytics, information privacy and security.
Obama, Leading Scientists Explore Frontiers at CMU
President Barack Obama made his fifth visit to Carnegie Mellon University in October 2016, this time for The White House Frontiers Conference, a gathering of 700 national thought-leaders on campus and nearly 7,000 more online, to discuss building America's capacity in science, technology and innovation.
The conference, co-hosted by CMU and the University of Pittsburgh, included discussions about new technologies, challenges and goals in areas ranging from artificial intelligence and robotics to "smart" communities, health care and space exploration.
Five Projects Selected To UPLift Campus Life
With a focus on improving a whole-life environment on campus, last spring, the Task Force on the CMU Experience invited students, faculty and staff to submit creative ideas to make common spaces more engaging, collaborative and fun. The term UPLift refers to University Place-making, or the idea that the right kind of physical spaces can meaningfully influence community and culture. Proposals were encouraged to align with three overarching themes: Health and Wellness; Crossroads of the Mind; and Recognizably CMU.
Marvell Settlement and Funds Use
Carnegie Mellon University settled its patent infringement lawsuit against Marvell Technology Group Ltd.
A substantial share of the proceeds will go to the inventors, José Moura, a professor in Carnegie Mellon's Department of Electrical and Computer Engineering, and Aleksandar Kavcic, a former doctoral student of Moura. Moura and Kavcic’s scientific research and technological innovations had a powerful impact on the ability to detect more accurately the data stored in the disk drives of computers sold worldwide in the last decade and a half, from large servers to small laptops.
The remaining funds will be dedicated to helping qualified students afford a Carnegie Mellon education, helping all students succeed while they are here, and enhancing the student experience.
Smart Cities: CMU's Research, Development and Deployment Approach Improves Life in Metro Areas
At Carnegie Mellon University, researchers are shaping public policy innovations, developing and deploying transportation, information and communications technologies to help transform urban environments and enhance their quality of life. As a global model for smarter city solutions, Carnegie Mellon is partnering with the City of Pittsburgh, Allegheny County and other government agencies, to incubate a range of technological systems that will improve safety, enhance mobility, promote efficiency and address pollution in the environment.
CMU’s Proportion of Undergraduate Women in Computer Science and Engineering Soars Above National Averages
While national efforts to encourage women to pursue degrees in key science and technology fields have lagged, Carnegie Mellon University has reached a new high-water mark, with women making up nearly half the incoming classes in the School of Computer Science and College of Engineering.