Enhancing ResourcesEnhancing Resources 

Strategic Goal: Engaging all stakeholders, faculty, staff, alumni, and community members, Ferris will implement innovative strategies to enhance University resources. 

Initiative Action Steps Progress and Updates

Initiative 1

Increase funding from grants, gifts, and other non-tuition sources.

Action Steps

  • ER 1.1:  Actively identify grant opportunities that would be a good fit for the University’s mission, engage appropriate faculty and staff in the pursuit of those grants, and provide effective support to faculty and staff during the grant-seeking and writing process.
  • ER 1.2:  Identify and support the development of initiatives and programs that will engage alumni and donors with the goal of increasing gifts to academic colleges.
  • ER 1.3:  Identify potential grant opportunities with the goal of increasing the number of non-academic grants received by the University annually. 
  • ER 1.4:  Increase earnings from University assets, facilities, and intellectual property.

Submit Progress and Updates to Initiative 1 Action Steps

Signs of Our Success -

  • The number of academic grant applications by faculty has increased 100 percent of Fall 2018 levels by Fall 2024.
  • Academic grant funding increases by $1,000,000 annually.
  • Three programs are identified in each academic college each year to work with University Advancement to invite engagement with alumni and community partners.
  • Alumni gifts to academic colleges have doubled by Fall 2024.
  • The number of non-academic grant applications has doubled by Fall 2024.
  • Revenue from University assets, facilities, and intellectual property increases 50 percent by Fall 2024.
  • Three new sources of revenue are identified and piloted using current University assets and facilities annually.
Progress and Updates-
  • Late 2019 the Jim Crow Museum received a $250,000 grant to fund an education coordinator position.
  • As of September 2020, we have exceeded the $100 million mark in the Now & Always Comprehensive Campaign, moving us closer to the $115 million goal to support Ferris students, campus, and programs.
  • The Ferris Foundation and Alumni Association collaboratively raised more than $133,000 for the Student Hardship Fund.
  • The Ferris Foundation for Excellence Benefit transitioned to a successful virtual platform while maintaining sponsorship levels and increasing overall constituent engagement.
  • Garnering significant local, regional, statewide and national media coverage that is highlighting the current and future impact of the increasing number of major grants received by the University.

Initiative 2

Encourage revenue-generating innovation.

Action Steps

  • ER 2.1: Create a dedicated infrastructure and “innovation fund” to provide resources and strategic support for faculty and staff to explore and implement revenue-enhancing initiatives within their divisions and units.

Submit Progress and Updates to Initiative 2 Action Steps

 Signs of our Success-

  • An “Innovation Center”, in the mode of a small business center, is established by Fall 2021 to help University stakeholders develop, evaluate, and refine potential revenue enhancing programs. The Center allows students, faculty, and community members to interact, invent, and collaborate.
  • The new innovation fund supports three major initiatives and five small developmental grants for pilot projects by Fall 2021.
  • A task force is convened to conduct an audit of University funding policies and practices that could affect the enhancement and use of University resources by Fall 2020. The task force recommends key changes to university budgeting, decision-rights, and revenue sharing structures to University executive leadership by Fall 2021.
Progress and Updates-
  • Extended and International Operations has some dedicated office space for an Innovation Center, currently located in Alumni 109. The pandemic has made the in-person participation aspect challenging, but we hope to have future opportunities to interact, invent, and collaborate in this space with University stakeholders. An Innovation Advisory Team, consisting of 26 faculty and staff, actively support HatchEd and the review of the Innovation Development Grant applications. So far we have funded a collaborative project between CET and COB called Building the Autonomous Vehicles Program at Ferris to contribute to the number of developmental grants awarded for pilot projects.

Highlights and Achievements

  • As of September 2020, we have exceeded the $100 million mark in the Now & Always Comprehensive Campaign, moving us closer to the $115 million goal to support Ferris students, campus, and programs.

  • The Ferris Foundation and Alumni Association collaboratively raised more than $133,000 for the Student Hardship Fund.

  • Extended and International Operations has some dedicated office space for an Innovation Center, currently located in Alumni 109. The pandemic has made the in-person participation aspect challenging, but we hope to have future opportunities to interact, invent, and collaborate in this space with University stakeholders. An Innovation Advisory Team, consisting of 26 faculty and staff, actively support HatchEd and the review of the Innovation Development Grant applications. So far we have funded a collaborative project between CET and COB called Building the Autonomous Vehicles Program at Ferris to contribute to the number of developmental grants awarded for pilot projects.

 


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***Last Updated 11/2020***