A Message to Alumni from President Jim Yong Kim

October 9, 2009

Dear Alumni of Dartmouth,

The mission of this College lives each day in the work that you do around the world. In the coming months and years, I look forward to learning about the paths you chose to pursue after Dartmouth and how your education here prepared you.

As I greet you for the first time, I am reminded that President John Sloan Dickey ’29 addressed the students of Dartmouth by saying, "You are the stuff of an institution, and what you are it will be." Your individual and collective stories and accomplishments are the stuff of Dartmouth's history. Your legendary love and support of your alma mater keeps you involved in Dartmouth's present.

So many of you have encouraged prospective students to consider Dartmouth, helped them finance their educations, provided internships to enrich their learning, launched them on their careers, and volunteered your time to sustain the bonds of friendship started here in Hanover. In countless ways, you have embraced your successors and are partners in our work.  

Today I'm sharing with you a letter I have written to our campus community reporting on Dartmouth's financial picture. The economic environment has created world-wide challenges. Higher education has been deeply affected. As of June 30, the end of our fiscal year, Dartmouth’s endowment had fallen by 23 percent to $2.8 billion (a decline of 19.6 percent due to investment performance, with the balance as a result of spending from the endowment, somewhat offset by new gifts). This loss of $835 million equates to approximately a $50 million reduction in annual operating revenue available to the College.

As I noted to the Class of 2013 in my inaugural address, that which is excellent is rarely easily achieved. Dartmouth has faced tough challenges and choices throughout its history, and has always maintained its strength. I am confident that we will continue to do so. 

I will keep you informed about our strategic thinking, planning, and problem-solving in future communications. This comes now with my gratitude for the work you do in your own communities, for enriching this one, and for keeping time and space in your lives for Dartmouth.

Sincerely,

Jim Yong Kim
President
Dartmouth College