One in a series of 3 or 4.

1. Chairman’s Letter 2009
Recognition of University Excellence
T
he year 2008 was one of great Excellence in Information Assurance
progress for Stevens. The university Research (CAE-R). The Institute will
achieved major national recogni- hold this designation from 2008 to 2013.
tion through the designation of Centers
of Excellence by agencies of the United As recently as 20 years ago, only 15-20
States government. percent of Stevens’ faculty participated in
significant research. By contrast, during
Stevens launched its new Systems the past five years, we have pursued a
Engineering Research Center (SERC) course of research excellence that has led
on November 24. The Department to a jump from about $10 million in
of Defense (DoD), awarded Stevens a funded research per year to more than
Lawrence T. Babbio Jr. five-year renewable contract to establish $30 million of research funding. We envi-
Chairman, Board of Trustees the SERC at its Hoboken, New Jersey sion continued major growth in this area,
campus. This is the nation’s only Univer- and Forbes recently ranked Stevens third
sity Affiliated Research Center (UARC) in research ROI.
focused on systems engineering research.
Undergraduate enrollment has more than
The Department of Homeland Security- doubled during 10 years and the graduate
designated Center for Secure and Resilient population has multiplied in accord with
Maritime Commerce will focus on the growth and flourishing of Stevens’
sensors, modeling and analysis to improve graduate programs. Stevens has also
maritime domain awareness. The center experienced, in several successive years,
will also address marine transportation record-setting graduating classes in both
systems designed for the United States graduate and undergraduate areas.
that are resilient to manmade and natural
threats. The Institute will receive grants of The founding of a distinct School of
up to $2 million per year for between four Systems & Enterprises (SSE), led by Dean
and six years to research these issues, the Dinesh Verma, has been a signal event in
better to protect the US maritime industry. the recent realignment of academic and
administrative structures at the univer-
Additionally, Stevens was selected by the sity. Adding to SSE’s industry expertise,
National Security Agency and the Depart- Virginia Ruesterholz ’83, president of
ment of Homeland Security as one of the Verizon Telecom, has agreed to chair the
first 23 National Centers of Academic SSE’s illustrious Board of Advisors.
THE CHAIRMAN’S LETTER | 2009 STEVENS INSTITUTE OF TECHNOLOGY

2. Student Life In addition, Randy L. Greene, CPA, has
S
been appointed Vice President of Finance,
tevens was named the ECAC/Jostens
CFO and Treasurer. Greene, who has an
Institution of the Year for 2008. The award
MBA in accounting and finance from the
is given annually to a college or university,
Johnson Graduate School of Management
encompassing NCAA Divisions I, II and III,
at Cornell University, has more than 25
that best combines outstanding athletic
years of professional experience in public,
achievement with outstanding academic
private and not-for-profit organizations. Randy L. Greene, cpa
achievement. This extraordinary recognition
He began his higher education career at
of our athletics programs and of our students
Cornell University where he held various positions in account-
as premier scholar-athletes places Stevens in
ing, financial affairs, treasury and sponsored research manage-
the company of Harvard, Princeton,
ment, culminating in the position of controller at Cornell’s
Williams and Georgetown, all past Jostens Award winners.
Weill Medical College in New York City. Since 2000, Greene
President Raveché, Vice President Maureen Weatherall
was the Assistant Vice President for Finance and University
and Director of Athletics Russ Rogers were on hand to accept
Controller at New York University, where he improved the
the award in Albany, September 28 at the ECAC Jostens
systems, structures and culture of the accounting and financial
award ceremony.
compliance operations of the university.
Now celebrating its 10th anniversary,
Veteran technologist and pioneering
the DeBaun Center for Performing
researcher Dr. Joseph Mitola III was
Arts has become a true New York-
recently appointed Stevens’ Vice President
Metropolitan area cultural center,
for the Research Enterprise. Mitola also
bringing people to campus and adding to campus life. Thanks
will serve as a Distinguished Professor,
to a generous gift from Ken DeBaun ’49 and his wife Grace,
holding a joint appointment at the Schaefer
the theater is a thriving, cultural hub and community resource,
School of Engineering and Science and the
offering classes, workshops, presentations, special events and Dr. Joseph Mitola III
School of Systems and Enterprises.
theater productions throughout the year.
In his new role as VP for the Research Enterprise, Mitola will be
responsible for promoting large-scale, cross-disciplinary research
Institutional Profile initiatives among Stevens’ diverse research centers, laboratories
Stevens’ overall ranking in the newest US News & World and contract research projects.
Report and Princeton Review surveys remained essentially the
same, although the slight drop in the US News placement Professor Ralph Giffin will serve as
was a disappointment. This was mainly due to a clustering Director of Business Operations in the
of institutions in the numbers 65-85 range, with very little School of Systems and Enterprises,
statistical difference between them, causing individual managing the day-to-day financial
institutions to move up and down based on relatively minor operations of the school. Giffin also
statistical changes. The rankings also relate to Stevens’ 2006- holds the position of Associate Provost,
07 academic year, and thus do not reflect several of our most Graduate Programs Enterprise. Ralph Giffin
important successes, including the DHS award and ECAC
Jostens Institution of the Year Award, which occurred in the Dr. Christos Christodoulatos has been
just-completed 2007-08 year. appointed to the position of Associate
Provost for Academic Entrepreneurship.
He will work closely with the academic
New Appointments deans to advance the goals and objectives
In February 2008, Fred Regan was appointed Vice President of the Technogenesis® environment
of Advancement, the most senior fund raising executive at at Stevens, and the other goals and
Stevens, reporting directly to the president. Dr. Christos objectives in the university’s Strategic
Vice President Regan will lead the Office Christodoulatos Positioning Plan. He will mentor both
of Advancement and is responsible regular and research faculty on issues of
for the entire fund-raising staff and entrepreneurship, intellectual property, innovation, creativity
programs, including communications and and market value of research outcomes. Christodoulatos will
relationship development with individual also work closely with faculty and students to ensure the
and corporate donors and prospects, as transformational success of the Technogenesis culture throughout
well as foundations. the student body and undertake initiatives that instill in students
Fred Regan
both creative thinking and an entrepreneurial spirit.
THE CHAIRMAN’S LETTER | 2009 STEVENS INSTITUTE OF TECHNOLOGY

3. Financial Summary
FISCAL YEAR 2006 2007 2008 2009 (budget)
Operating Revenues
Net Tuition $ 61,596,812 $ 68,733,466 $ 82,359,718 $ 96,977,493
Research 27,287,607 29,504,740 28,309,403 30,300,000
Contributions & Grants 8,529,432 5,729,028 4,341,453 4,900,000
Auxiliary 12,838,812 14,083,225 16,499,164 17,181,237
Endowment Distribution 5,303,331 4,880,139 5,562,100 5,475,492
Other 2,676,152 3,780,047 2,719,673 1,562,000
Total Revenues $ 118,232,146 $ 126,710,645 $ 139,791,511 $ 156,396,222
Operating Expenses
Salaries & Benefits $ 77,937,203 $ 80,782,969 $ 86,142,102 $ 95,522,658
Materials, Services & Other 46,594,645 43,188,691 44,071,001 49,261,348
Interest 1,205,387 3,018,256 3,197,385 4,572,216
Depreciation & Amortization 4,617,447 6,310,301 7,478,045 7,040,000
Total Expenses $ 130,354,682 $ 133,300,217 $ 140,888,533 $ 156,396,222
Net Operations $ -12,122,536 $ -6,589,572 $ -1,097,022 $0
At the same time as we have Actual Net Operations 2006-2008
strengthened our enrollment and with 2009 Projections
research, we have strengthened our
budgeting and internal controls
to place us on a course to balance
the budget for fiscal 2009.
THE CHAIRMAN’S LETTER | 2009 STEVENS INSTITUTE OF TECHNOLOGY

4. NON PROFIT ORG
US POSTAGE
PAID
HOBOKEN, NJ
PERMIT NO. 4
Castle Point on Hudson
Hoboken, New Jersey 07030
relevant areas will add both to Stevens’ financial engine and
to the university’s prestige on a national and global scale.
Stevens Institute of Technology can serve as an inspiration
to academics, technologists and entrepreneurs at home and
abroad, and a model institution for higher learning into the
future. It is the technological university that measures the
Looking Forward pulse of the global economy and in turn prepares young lead-
S
tevens is on the threshold of a new and exciting ers who are a match for the challenges of the 21st century.
period of growth and achievement based on our new
alignment of education and research priorities and It is our duty as members of the Stevens community to
a renewed dedication to the visionary stewardship of our preserve, strengthen and grow this phenomenal institution,
university’s founders. which comes down to us as a legacy from one of our
nation’s founding families. I personally pledge myself to
The development and execution of sound strategic plans the task, and I encourage you to join me as we meet the
by the leadership within the Stevens community will challenges ahead.
make Stevens the go-to university for government and
major industry. Stevens continues to be recognized as a
leader in the areas of systems, enterprise and technology
management, security technologies and multi-scale
engineering — areas critical to the advanced economies of
the 21st century. The increased external research funding Lawrence T. Babbio Jr.
that will result from Stevens’ initiatives in these ultra- Chairman, Board of Trustees
THE CHAIRMAN’S LETTER | 2009 STEVENS INSTITUTE OF TECHNOLOGY