The story out of our financial engine room is that, once again, BU continues to fire on all cylinders, maintaining our momentum, strength, and vision. Thanks to a culture that strives for continuous operational excellence, in FY2018 we saw over $140 million in net operating gain, $487 million in research awards, and our endowment topped $2 billion for the first time in our history.
Together with the University’s operating gain, generous contributions from donors to the University’s endowment, continued strong endowment performance, and net assets added as a result of the Wheelock merger, the University’s total net assets grew by a historic $517 million this past year.
Numbers to hang our hat on, for sure, but by no means permission to pause. In the spirit of relentless forward motion, we'd like to call out three items from the past year that typify our determination.
The Wheelock College merger
The union between Boston University and Wheelock College not only strengthened the University’s programs in education and human development but also provided resources to invest in the Boston University Wheelock College of Education & Human Development.
Validating our culture of operational excellence and continuous improvement in an environment where higher education is under significant stress and scrutiny, Moody's upgraded us in November 2017 to Aa3.
We had another strong year in our comprehensive capital campaign, building a revenue foundation that continues to allow us to invest in capital plans, faculty and research talent, and educational programs.