Page 56 - Perimeter Institute 2012 Annual Report

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f i nanc i a l s
Results of Operations
Operating Expenditure Summary
For the year ended July 31, 2012
Financials
research
indirect research
research training
outreach
$3,350,000
$11,025,000
$5,641,000
$1,838,000
In 2011/12, Perimeter Institute continued to make good progress
on all initiatives in its five-year strategic plan.
A major facility expansion representing a substantial capital
expenditure, the Stephen Hawking Centre at Perimeter Institute,
was successfully completed. The Institute continued to spend
strategically on its core mission areas of research, training, and
outreach, increasing expenditures in these areas by over $2
million, or 15 percent, over the previous year. $1.2 million, or 60
percent, of this increase was in research, Perimeter’s major focus
area, and was largely due to new faculty recruitment. Strategic
recruitment will remain a priority as the Institute continues to build
a critical mass of researchers over the coming years.
The Institute increased investment by nine percent in its research
training programs, Perimeter Scholars International and the
PhD program, both of which, in collaboration with university
partners, attract highly talented graduates from around the world.
Outreach and science communications expenditures increased
by 29 percent, extending Perimeter’s reach to students, teachers,
and the general public through existing and new programs and
pedagogical materials.
Indirect research and operating expenditures cover the costs
of core support areas, including administration, information
technology, and facilities. As anticipated, facility and information
technology expenditures comprised 70 percent of the overall $1.1
million increase in 2011/12, as researchers and staff moved into
the new Stephen Hawking Centre. The costs of the Institute’s
advancement activities are also included under indirect research
and operations. Advancement activities generated over $1 million
in donations (and a total of $7.8 million in commitments) as the
Institute continued to expand and enhance its public-private
funding model.
Perimeter Institute’s investment strategy, strong oversight, and
portfolio management allowed its endowment fund to generate
$7.6 million. This success occurred despite a challenging macro
environment.