Our Revenue Center Model is developed by determining which schools or divisions of the university generate revenue; allocating to those divisions the appropriate amount of revenue; determining the direct and indirect costs that should be allocated to those revenue centers (all institutional expenses must be allocated to one or more revenue centers by a “step down method”); and determining the net income each revenue center generates for the university. The benefit of the revenue center analysis system is that it identifies the divisions or schools that generate cash for the institution and those that use it, showing the way to making thoughtful resource allocation decisions. The development of this model requires some effort on the part of the business office staff to conduct data gathering.
Testimonials From Previous Financial Analysis Clients
Holy Family University
Multiple Strategic Management Consulting Projects
Stevens Strategy (and prior to the formation of our firm, John Stevens as an independent consultant and senior member of another firm) led a wide variety of projects over an extended period of time at Holy Family University.
Our Client’s View
Michael Van Thuyne, Assistant Vice President Finance, Budget, and Institutional Research, Holy Family University
“Stevens Strategy has helped us look at ourselves honestly and earnestly from an organizational and data-driven viewpoint. Brendan Leonard clearly helped to establish measurable outcomes that are quantitative and qualitative in nature. Brendan’s extensive knowledge and experience in higher education proved invaluable throughout the entire working engagement… Stevens Strategy met and surpassed all of our initial expectations and needs completely, diligently, and with extreme care and concern. The end product has become a living, dynamic working document for strategic planning and operational budgeting for Holy Family University… Stevens Strategy is focused on total customer satisfaction with their consulting services and work efforts. If we are not happy, they are not happy. If we fail, they fail. Stevens Strategy will…ensure that the job and services promised will be filled completely…for a fair price. It doesn’t get better than that…Beyond the financial realm, Holy Family University has used Stevens Strategy for personnel recruitment, marketing planning, operational enhancements, and fund-raising development to name a few areas. Our working relationship with Stevens Strategy is one that we deeply value and look forward to continuing in future years.”
Kentucky Wesleyan College
Customized Financial Planning Model
Stevens Strategy developed a financial planning model for Kentucky Wesleyan College that was based upon the college’s budget preparation system. The Financial Planning Model predicts institutional income and expense over periods of five years. It is a fixed and variable income/cost model that is designed to respond to all the relevant financial planning assumptions at the campus. We designed and tested the model using the college’s historical audited financial information.
Our Client’s View
Cindra K. Stiff, Chief Financial Officer, Kentucky Wesleyan College
“Our expectations were focused on the creation of a sophisticated, but easy to use, Financial Planning Model that would provide forecasting data, reports and scenarios that could be incorporated into fiscal and strategic planning and provide a good format for sharing data and results with others. Stevens Strategy exceeded my expectations. This was a very efficient, successful project that produced a valuable planning tool that will serve KWC well as we work to incorporate strategic, financial and operational changes in the overall operation. The Stevens staff is very capable AND personable to work with.”
Financial Assessment
Stevens Strategy conducted an in-depth overview of the College’s financial health and provided recommendations on steps to take to improve financial performance.
Our Client’s View
Dr. Cheryl King, President, Kentucky Wesleyan College
“We were confident that Stevens Strategy was one of the best consulting groups in the U.S. The Financial Assessment Report will be used as the basis for decisions regarding our strategic plan and mission-centered approach to future growth and vitality…The report is concise and to the point. We were impressed with the knowledge and professionalism of the consultants. Stevens Strategy delivered what you promised, and we appreciate it!”
Neumann College
Strategic Financial Analysis
Stevens Strategy completed an analysis and assessment of the financial operations at Neumann College.
Our Client’s View
Dr. Rosalie Mirenda, President, Neumann College
“Thank you. You fulfilled your agreement with us on time and professionally!”
University of Saint Francis
Revenue Growth and Efficiency Studies
Stevens Strategy provided strategic planning and PRO processes resulting in a new mix of academic programs and a new vision, strategy, operational plan for University of Saint Francis. Following those processes we provided Revenue Growth and Efficiency Studies to guide the university as it endeavors to cut expenses and add revenue.
The Client’s View
Ian D. Boyce, Board of Trustee Liaison to the Campus Steering Committee, University of Saint Francis
“John, thank you for your commitment of time, knowledge and expertise in developing a foundation from which the University of St. Francis could begin to understand its current position and the changes necessary to move the institution forward in the years to come. Without a credible process and a common understanding of where we are, the resolve would not be there to make the difficult choices. As you point out, we have made some initial steps but it is the remaining journey and the road that we take that will determine our future. It has been a pleasure getting to know you. I appreciate the caring and compassion with which you have taken on your work. I wish you all the best in the years ahead!”
The Client’s View:
Sister Elise Kriss, President, University of Saint Francis
“There was an expectation that Stevens Strategy would help get the budget in line. The recommendations for implementation of the staffing reduction, though hard to do, were the most successful part of the project. We still seem to be overstaffed on the academic side. The revenue and efficiency report will guide some future discussions. Stevens Strategy’s greatest strengths are assistance with data gathering, the consistent push with President’s Cabinet and the Board to act and the work of Bob DeColfmacker. More regular conversations with the entire President’s Cabinet may have better integrated the President’s Cabinet’s very diverse opinions about the project.”
The Client’s View:
Dr. Lance Richey, Vice President for Academic Affairs, University of Saint Francis
“Stevens Strategy delivered all that we contracted for and met all the deadlines. The most successful parts of the project were the structure for the work and data delivered to assist in deliberations. Stevens Strategy’s greatest strength is its deep understanding of strategy and university financials. Conducting the Efficiency Review after the Non-Academic PRO Process, while prescribed by our contract, made operationalizing the work more difficult”
Wilson College
Strategic Financial Analysis
Stevens Strategy completed an analysis and assessment of the financial operations at Wilson College.
Our Client’s View
Dr. Lorna Edmundson, President, Wilson College
“Mike was great! [He gave] a thoughtful and provocative presentation on small college finance, particularly aspects of Wilson’s financial opportunities and challenges.”