University of Southern California 2015 Financial Report. the Art of Success. Educating Creative Entrepreneurs.

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University of Southern California 2015 Financial Report. the Art of Success. Educating Creative Entrepreneurs.
University of
Southern California
2015 Financial

         the art of success E D U C AT I N G creative entrepreneurs
University of Southern California 2015 Financial Report. the Art of Success. Educating Creative Entrepreneurs.
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On the front and back covers:  This year has been one
of innovation and accomplishment for USC’s six world class
arts schools – USC School of Architecture, USC Roski
School of Art and Design, USC School of Cinematic Arts,
USC Glorya Kaufman School of Dance, USC School
of Dramatic Arts, USC Thornton School of Music.
University of Southern California 2015 Financial Report. the Art of Success. Educating Creative Entrepreneurs.
the art of success   e d u c at i n g   creative entrepreneurs
University of Southern California 2015 Financial Report. the Art of Success. Educating Creative Entrepreneurs.
University of Southern California 2015 Financial Report. the Art of Success. Educating Creative Entrepreneurs.
THE ART OF SUCCESS                                         Educating Creative
 e University of Southern                                  Students at USC’s six world
                                                            class arts schools are inventing

 California’s efforts to mix                                 jobs that didn’t exist a decade
                                                            ago. They’re branding, marketing
                                                            and networking their way into

 entrepreneurial skill with artistic                        successful careers.

 expression are intentional.
 Creativity is increasingly
 recognized as a valuable asset
 — and so is the ability to
                                                               The university’s efforts to

 market that creativity.                                    mix entrepreneurial skill with
                                                            artistic expression are inten-
                                                            tional. Creativity is increasingly
                                                            recognized as a valuable asset
                                                            — and so is the ability to market
                                                            that creativity. New academic
                                                            partnerships have formed excit-
                                                            ing programs that support
                                                            budding student entrepreneurs.
                                                            Through USC’s Visions and
                                                            Voices initiative, now celebrating
                                                            its 10th year, students have the
                                                            opportunity to meet and learn
                                                            from artists at the top of their
                                                            fields. USC’s Fisher Museum of
                                                            Art, Pacific Asia Museum and
                                                            classical stations KUSC and
                                                            KDFC add to the richness of
                                                            programs and events USC offers
                                                            students interested in the arts.
                                                               This year has been an exciting
                                                            time for the arts at USC. Here’s
                                                            a snapshot of the programs that
                                                            are transforming the Trojan

The USC Glorya
Kaufman School of
Dance welcomed its
inaugural class of
students in fall 2015.
                                       University of Southern California   2015 FINANCIAL REPORT /   3
University of Southern California 2015 Financial Report. the Art of Success. Educating Creative Entrepreneurs.
expanding t h e                       definition of   contemporary art

4 / 2015 FINANCIAL REPORT University of Southern California
University of Southern California 2015 Financial Report. the Art of Success. Educating Creative Entrepreneurs.
USC Roski design
                               students prepare for
                               careers in fields as
                               disparate as gaming
                               and fashion.

Designing the Future

The USC Roski School of Art         the school introduced its first      to document the devastation of
and Design’s programs mix           course in graphic design for fash-   the 2011 Tohuko earthquake and
artistic expression with technol-   ion marketing and announced          subsequent tsunami in photogra-
ogy skills. An innovative new       a new 3-D design minor, comple-      phy and video. The experience,
online master’s degree partners     menting its minors for students      he says, helped his art break
the school with mass media be-      interested in animation and          through in new ways.
hemoth Condé Nast and WIRED         gaming. USC Roski’s program in          Alumnus Andrew Huang ’07,
magazine. The degree in inte-       multimedia and visual communi-       who directs visually stunning
grated design, business and         cation currently ranks eighth        music videos for Björk, Sigur
technology will attract people      in the nation according to U.S.      Rós and Atoms for Peace, has
who want to be leaders in both      News & World Report.                 this advice for students: “Try
business and culture, says             Adding a global dimension         new mediums because that’s
USC Roski Dean Erica Muhl.          to its curriculum, the school        the way you’ll learn and grown,
   When USC Roski added             awards Macomber Travel Grants        and that’s the way you’ll create
“Design” to its name in 2013,       to students to support research-     a job for yourself that might
it reflected the expanding          based travel, production of new      not even exist at the moment.”
definition of contemporary art      artwork and public presentation
practice. Already known for its     of the new work. BFA student
intra-disciplinary curriculum,      Brian Dario traveled to Japan

                                                                                         University of Southern California   2015 FINANCIAL REPORT /   5
University of Southern California 2015 Financial Report. the Art of Success. Educating Creative Entrepreneurs.
exploring   new mediums t o learn a n d grow
University of Southern California 2015 Financial Report. the Art of Success. Educating Creative Entrepreneurs.
Creating the New and Conserving the Old

The USC School of Architecture           USC is also a leader in pre-
was the first accredited school       serving the architectural heritage
of architecture in Southern Cali-     of Southern California. The USC
fornia, and, in 2014, became one      Architectural Guild gave its 2015
of the first schools to receive       Distinguished Alumni Award to
the National Architectural            Kelly Sutherlin McLeod ’82, ’83,
Accrediting Board’s new eight-        the project architect who over-
year accreditation — for both         saw renovations of The Gamble
its bachelor’s and master’s           House, USC, in Pasadena. Since
degree programs. “The accredi-        1966, when USC took over re-
tation,” said Dean Qingyun Ma,        sponsibility for the 1908 Greene
“recognizes the commitment            and Greene masterpiece, two
and confidence in the school’s        USC Architecture students have
emerging experiments and              lived in the National Historic
innovation for the future of archi-   Landmark each year. McLeod
tecture and the environment.”         was one of those students in
   Leading the way are profes-        1982, sparking her interest in
sors such as Karen Kensek             heritage conservation. The next
and Douglas Noble, pioneers in        project for her firm — leading
building information modeling         the renovation of the USC Pacific
(BIM). Kensek thinks of buildings     Asia Museum in Pasadena.
as living organisms, self-adjust-        Hiring at architecture firms
ing and self-correcting as they       is on the upswing, as indicated
transmit a constant stream of         by the record number of compa-
data about themselves. The            nies at the USC School of Archi-
author of two books about BIM,        tecture Firm Fair, and it’s clear
Kensek brings her research            that USC students are ready
to the classroom, where her           to take on innovative and excit-
courses turn out students who,        ing careers.
she says, “are very technically
hands-on competent in BIM at
the end of the course, and are
poised to be leaders in the field.”

                                                                           “e accreditation recognizes
                                                                            the commitment and confidence
                                                                            in the school’s emerging experi-
                                                                            ments and innovation for the
                                                                            future of architecture and
                                                                            the environment.”
                                                                            Qingyun Ma, Dean, USC School of Architecture

MFA and final-year
animation majors
have 24/7 access
to their personal
                                                                                    University of Southern California   2015 FINANCIAL REPORT /   7
University of Southern California 2015 Financial Report. the Art of Success. Educating Creative Entrepreneurs.
USC School of
Architecture students
are poised to advance
modernism, sustain-
ability and innovative
urban design.
inventing the   future o f architecture
Are they performers, techies,
    entrepreneurs? e answer
    for many USC School of
    Dramatic Arts graduates is —
    all of the above.

    Make Them Laugh

    Are they performers, techies,            Students in the Voice-over
    entrepreneurs? The answer for         Acting class, taught by voice-
    many USC School of Dramatic           over professional Vicki Lewis and
    Arts graduates is — all of the        sound engineer Phil Allen, not
    above. Consider Lilly Fuler, Joe      only create characters, they also
    Sofranko and Adam North, all          learn how to record and edit their
    2009 graduates. They wrote,           voices, assemble a professional
    directed and raised money for a       demo reel and submit them-
    comedy Web series, Complete           selves digitally for an audition.
    Works, a behind-the-scenes            It’s an increasingly important
    drama of contestants in a             market for actors, but few other
    fictional college Shakespeare         universities offer the instruction.
    festival. It wouldn’t have been          Another fast-growing field
    possible, the three acknowledge,      is medical clowning. To educate
    without volunteer support from        students about medical clown-
    School of Dramatic Arts stu-          ing’s benefits, USC brought in
    dents, alumni, faculty and staff.     three seminal practitioners from
    The series debuted on Hulu,           Israel, Brazil and New York City
    and has been screened at the          to conduct a workshop for MFA
    Oregon Shakespeare Festival           acting students. Karen McCarty,
    and embraced online by Shake-         creative director of community
    speare enthusiasts.                   programs at New York City’s
                                          Big Apple Circus, told them:
                                          “Consider getting on the ground
                                          floor of this new profession.”

                                                                                Costumes, sets,
                                                                                lighting — it’s all
                                                                                part of dramatic
                                                                                arts students’
                                                                                repertoire of skills.

10 / 2015 FINANCIAL REPORT University of Southern California
developing   new markets f o r actors

              University of Southern California   2015 FINANCIAL REPORT /   11
Cinematic arts
   students move from
   the classroom to
   the studio to create
   projects like this
   stop-motion anima-
   tion film.

                                       Multiple Platforms, Multiple Possibilities

                                       For the third year in a row, The         Innovative studio classes,       students from Trojan Vision and
                                       Hollywood Reporter named the          like the one created by visual      actors from the USC School of
                                       USC School of Cinematic Arts          effects artist Eric Hanson, use     Dramatic Arts produced a sketch
                                       the top film school based on its      the school’s new IMAX theater       comedy show filmed before a
                                       commitment to technology, the         to teach students to create         studio audience and broadcast
                                       accomplishments of its alumni         content for multiple platforms.     live on television. In other words,
                                       and the strength of its faculty.      Undergraduates shot short films,    USC’s version of Saturday
                                          And for the fifth year in a row,   each designed for a different       Night Live. The project’s three
                                       The Princeton Review ranked           immersive experience — an           episodes featured professional
                                       USC the number one game de-           IMAX theater, a fulldome theater    guest hosts Jim Staahl (SCTV,
                                       sign school. (The USC Games           and the virtual reality headset     Curb Your Enthusiasm), Misty
                                       program is a collaboration be-        Oculus Rift.                        Monroe (The Groundlings, How
                                       tween Cinematic Arts’ Interactive        In what was arguably the         I Met Your Mother) and Horatio
                                       Media & Games division and            coolest course offering this past   Sanz (Saturday Night Live).
                                       the USC Viterbi School of Engi-       year, directors and writers from
                                       neering’s Department of Com-          cinematic arts, production
                                       puter Science.)

12 / 2015 FINANCIAL REPORT University of Southern California
USC arts students are
                                        branding, marketing
                                        and networking their
                                        way into successful

inventing   jobs t h at didn’t exist a             d e c a d e ag o

                              University of Southern California   2015 FINANCIAL REPORT /   13
“dancers today h av e                                    to Be            versatile    hybrids…”
                                   Jodie Gates, Vice Dean and Director, USC Kaufman School of Dance

14 / 2015 FINANCIAL REPORT University of Southern California
From Ballet to Hip-Hop

The USC Glorya Kaufman School       Quijada are a diverse group,       and educator: “Dancers today           Music, which will allow students
of Dance welcomed its inaugural     representing the dance worlds      have to be versatile hybrids,          to select a specialization in cine-
class of Bachelor of Fine Arts      of ballet, contemporary and        able to connect the dots between       matic arts or music.
(BFA) students in fall 2015, and    hip-hop.                           ballet and urban folk dance               Founded in 2012 with a trans-
this group of 33 talented dancers      In addition, in the school’s    [hip-hop], and learn how to apply      formational gift by philanthropist
from four countries and 11 states   inaugural year, Hubbard Street     choreography to stage, film,           Glorya Kaufman, USC’s first new
has a lot to be excited about.      Dance Chicago will begin an        television and mobile devices.”        school in nearly 40 years will
   USC Kaufman has assembled        on-campus collaboration with          The school’s BFA curriculum,        move into the USC Kaufman
a faculty of nationally renowned    a series of workshops, master      while developing dancers and           International Dance Center in
professionals including acclaimed   classes, residencies and per-      choreographers, includes classes       spring 2016. The 50,000 square
choreographer William Forsythe.     formances.                         in new media and career skills         foot state-of-the-art dance com-
Faculty members including              USC Kaufman’s motto,            for the 21st century. Interdiscipli-   plex features five studios in
Patrick Corbin and Moncell          “The New Movement,” is de-         nary study is assured through          addition to performance space.
Durden, and artists in residence    scribed by vice dean and direc-    partnerships with the USC
Desmond Richardson, Zippora         tor Jodie Gates, internationally   School of Cinematic Arts and
Karz, Fiona Lummis and Victor       known dancer, choreographer        the USC Thornton School of
Combining Creativity and Technology

                                                               Complementing its highly               Programs like these in USC
                                                               successful Popular Music major      Thornton’s Contemporary Music
                                                               and its redesigned Music Indus-     division have attracted talented
                                                               try degree program, the USC         students like Davey Martinez.
                                                               Thornton School of Music has a      The 2012 music industry gradu-
                                                               new bachelor’s degree in Music      ate now tours the world as DJ
                                                               Production that encompasses         Skrillex’s lighting operator.
                                                               the creative, technical and         “It was a skill set I learned at
                                                               entrepreneurial aspects of pro-     USC — how to create my own
                                                               fessional music. The major          opportunities,” he says.
                                                               reflects the current and evolving      Martinez gained production
                                                               nature of professional music        experience in the popular — and
                                                               making in the digital age, where    difficult — class, Live Music Pro-
                                                               the job description of today’s      duction and Promotion. With no
                                                               contemporary musician often         budget, small teams of students
                                                               includes composing and arrang-      dive headfirst into event plan-
                                                               ing, live and studio performance,   ning, creating a concert, finding
                                                               audio engineering/editing and       talent, securing sponsors and a
                                                               mastering, music synthesis          venue, getting permits and pro-
                                                               and programming, as well as         moting and executing the event.
                                                               business responsibilities.             Ken Lopez, chair of the
                                                                                                   music industry program, loves
                                                                                                   watching his former students
                                                                                                   invent their own careers. “This
                                                                                                   is a superbly explosive, creative
                                                                                                   time for the music industry,
                                                                                                   and it’s a great time to be an
                                                                                                   entrepreneur,” he says.

    USC ornton’s new bachelor’s
    degree in Music Production reflects
    the current and evolving nature
    of professional music making in
    the digital age.

                                                                                                                Music faculty strive
                                                                                                                to make students’
                                                                                                                transition from the
                                                                                                                classroom to the
                                                                                                                professional world
16 / 2015 FINANCIAL REPORT University of Southern California
c r e at i n g   content f o r multiple platforms
University Highlights _2014/15
                                                                           New Provost Outlines
                                                                           Academic Vision

                                                                           Neuroscientist Michael Quick
                                                                           was formally installed as USC’s
                                                                           provost and senior vice president
                                                                           for academic affairs on May 6.
                                                                              At his installation, Quick outlined
                                                                           an ambitious vision for USC:
                                                                           • Take on the most complex,
                                                                             interconnected issues of our time,
                                                                             such as cancer, dementia, social
                                                                             justice, poverty and terrorism.
                                                                           • Increase access and opportunity
                                                                             at all levels, building on the
                                                                             university’s successes in attract-
                                                                             ing diverse transfer students,
                                                                             first-generation collegians and
                                                                             students assisted by federal
                                                                             Pell Grants.
                                                                           • Become a truly global university
                                                                             with a global reach and global
                                                                           • Care about value, not simply

                                                                           Announcing Quick’s appointment,
                                                                           USC President C. L. Max Nikias said,
                                                                           “Professor Quick has proven to be
                                                                           an inspiring and tactical leader,
                                                                           demonstrating tremendous fore-
                                                                           sight, intellect and resolve in ad-
                                                                           vancing the university’s initiatives.”
                                                                              As provost, Quick is the univer-
                                                                           sity’s chief academic officer. The
                                                                           deans of USC’s 19 schools report
                                                                           to him; he also oversees the divi-
                                                                           sions of Student Affairs, Libraries,
                                                                           Research Advancement, Information
                                                                           Technology Services, Student Reli-
                                                                           gious Life, Academic Space Plan-
                                                                           ning, Global Initiatives, Academic
  “Professor Quick has proven to be                                        Planning and Budget, and the USC
                                                                           Stevens Center for Innovation.
   an inspiring and tactical leader,                                          Known for his scholarship, lead-
                                                                           ership and sense of humor, Quick

   demonstrating tremendous foresight,                                     was recruited to USC in 2002 from
                                                                           the University of Alabama at Birm-
                                                                           ingham as associate professor of
   intellect and resolve in advancing                                      biological sciences, was promoted
                                                                           to professor and vice dean for re-
   the university’s initiatives.”                                          search at the USC Dornsife College
                                                                           of Letters, Arts and Sciences, and
    C. L. Max Nikias, President of the University of Southern California
                                                                           advanced to become USC’s execu-
                                                                           tive vice provost and vice president
                                                                           for academic affairs before taking
                                                                           the helm as provost.

20 / 2015 FINANCIAL REPORT University of Southern California
Provost Quick received his PhD           The team has had tremendous              Abe also met with staff and
in neuroscience from Emory Univer-        success. Its researchers were the        faculty at the USC Shinso Ito Center
sity and was a postdoctoral research      first to show that aging brains          for Japanese Religions and Culture,
fellow at the California Institute of     unravel in the reverse order of          one of only seven institutes for
Technology. His scholarship focuses       development, the first to use brain      Japan studies at U.S. universities.
on the regulation of protein functions,   scans to show how a certain gene
especially as it relates to the signal-   variant speeds up brain loss in          Mexico Presence Enhanced
ing properties of neurons. He is          Alzheimer’s patients, and the first      President C. L. Max Nikias led a
the author of more than 60 scien-         to link brain connectivity to human      delegation of trustees, senior ad-
tific publications and has received       behavior and genetics through            ministrators and deans to Mexico
numerous teaching awards.                 advanced brain-imaging techniques.       City to strengthen partnerships with
                                             Located at the Keck School of         leading Mexican institutions and
                                          Medicine of USC, the institute is        enhance ties with alumni, parents            “Neuroscience represents
                                          noted for its interdisciplinary work,    and prospective students.                     the next great frontier
                                          collaborating with faculty in biology,       Among the expanded partner-               of medical research in
                                          genetics, biostatistics, computer        ships, USC and Consejo Nacional de            the 21st century. We
                                          science, mathematics, pharmacol-         Ciencia y Tecnología (CONACYT)                believe that the tremen-
                                          ogy and other disciplines.               established up to 30 postdoctoral             dously talented team
                                             Describing why the Stevens            fellowships for Mexican scholars to           and the interdisciplinary
                                          family chose to bring their long-time    study at USC. The two institutions            nature of the institute’s
                                          support for innovation to neuro-         will also offer five joint scholarships       work will yield meaning-
                                          science, Trustee Mark Stevens said,      for Mexican students to pursue                ful understanding of this
                                          “The field of neuroscience repre-        master’s degrees at the USC Viterbi           frontier in the future.”
                                          sents the next great frontier of         School of Engineering. In addition,
Neuroscience                                                                                                                      Mark Stevens
                                          medical research in the 21st century.    the USC Price School of Public Pol-
                                                                                                                                  USC Trustee
                                          We believe that the tremendously         icy established an undergraduate
                                          talented team and the interdiscipli-     student exchange with the Instituto
                                          nary nature of the institute’s work      Tecnológico Autónomo de México.
Expanding our understanding of the        will yield meaningful understanding
human brain is a goal embraced by         of this frontier in the future.”         Digital Future Predicted
longtime USC benefactors Mark and                                                  USC’s 2014 Global Conversation
Mary Stevens. Their transformative                                                 in New York City, “Defining Future
gift has endowed the USC Mark and                                                  Reality,” charted the changing expe-
Mary Stevens Neuroimaging and                                                      rience of reality and the digital
Informatics Institute and will advance                                             future of medicine.
the transformation of basic research                                                  Keynote speaker Jimmy Iovine,
into new therapies, preventions and                                                music industry innovator and donor
cures for brain injury and disease,                                                with Andre Young (AKA Dr. Dre) of
including Alzheimer’s, schizophrenia                                               the USC Jimmy Iovine and Andre
and traumatic brain injury.                                                        Young Academy for Arts, Technol-
   Announcing the endowment,                                                       ogy and the Business of Innovation,
USC President C. L. Max Nikias                                                     said he’d like the academy to be-
                                          Global Leadership
lauded the Stevens’ vision: “Neuro-                                                come a home for innovators fluent
science has been called ‘the final                                                 in technology and the arts.
frontier’ in medical science’s progress                                               Among forecasts for the future,
toward a fuller understanding                                                      cardiologist and wireless diagnostics
of human life and human health.           USC expanded its global reach in         pioneer Leslie Saxon predicted an
Through the Stevens’ support,             numerous ways this year. Here are        age of 24/7 medical record keeping
USC researchers will have the op-         a few highlights of 2014-15.             worldwide: “We’ll constantly be
portunity to address many of the                                                   streaming wireless information
most pressing questions in medi-          Prime Minister Returns                   about how our bodies are doing.”
cine today.”                              Japanese Prime Minister Shinzo           Hao Li, an expert in 3-D digitization,
   Led by professors Arthur Toga          Abe capped a week of diplomacy           predicted 2014 would become “the
and Paul Thompson, the institute          in the U.S. by visiting the USC          year of immersive experiences.”
and its Laboratory of Neuro Imaging       campus, where he was a student
came to USC in 2013. In its three         in 1978. Abe toured a campus trans-
decades, the institute has amassed        formed by recent growth with USC
the world’s largest repository of         President C. L. Max Nikias. “We are
healthy and diseased brain images         so proud to count Prime Minister
along with medical and cognitive          Abe among USC’s most illustrious
data from diverse populations             alumni, as his many accomplish-
around the globe.                         ments bring tremendous honor to
                                          the university,” Nikias said.

                                                                                                      University of Southern California   2015 FINANCIAL REPORT /   21
The USC Caruso Department             monthly between the November
                                                                                    is led by surgeon and researcher         birth and May surgery to plan the
                                                                                    John K. Niparko. A national expert       elaborate procedure as well as post-
                                                                                    on hearing technologies, Niparko         surgical intensive care. James Stein,
                                                                                    has built USC’s otolaryngology           lead surgeon during the separation
                                                                                    group into one of the nation’s finest,   and associate professor of surgery
                                                                                    recruiting researchers from around       at the Keck School of Medicine of
                                                                                    the country and spearheading a           USC, has now separated six pairs
                                                                                    national clinical trial of treatments    of conjoined twins.
                                                                                    for children with hearing loss.              Closer to home, Keck Medicine
                                          Accelerating Hearing
                                                                                       “Early intervention is critical to    of USC collaborated with the Califor-
                                          Loss Treatment                            ensure that children with hearing        nia Institute of Technology and
  “Early intervention is                                                            loss develop their speech and lan-       Rancho Los Amigos National Reha-
   critical to ensure that                                                          guage skills. Tina and Rick Caruso       bilitation Center in a unique clinical
   children with hearing                                                            have a profound understanding            trial to implant a device in patient
   loss develop their speech              Inspired by family experience,            of these concerns and are compas-        Erik Sorto’s brain, which allows
   and language skills. Tina              business leader, longtime benefactor      sionate believers in the importance      him to move a robotic arm just
   and Rick Caruso have a                 and USC Trustee Rick J. Caruso            of this work,” Niparko said.             by thinking about it.
   profound understanding                 and his wife, Tina, endowed the           “Generations of children will bear           Paralyzed from the neck down
   of these concerns and                  USC Tina and Rick Caruso Depart-          the imprint of their generosity.”        when he was 21, Sorto is the first
   are compassionate be-                  ment of Otolaryngology — Head and                                                  person to have this type of surgery.
   lievers in the importance              Neck Surgery, one of the nation’s                                                  Keck Medicine of USC surgeons
   of this work. Generations              largest and most highly ranked for                                                 performed the neuroprosthetic
   of children will bear                  research and treatment of diseases                                                 implant, and, since then, Sorto
   the imprint of their                   of the ear, nose and throat. The                                                   has been training with Caltech re-
   generosity.”                           Caruso’s generous naming gift in-                                                  searchers and Rancho Los Amigos
                                          cludes funding for the USC Caruso                                                  staff to control a computer cursor
    John K. Niparko, MD
                                          Family Center for Childhood Com-                                                   and a robotic arm with his mind.
    Leon J. Tiber and David S.
                                          munication, the department’s affili-                                               He’s thrilled with the results:
    Alpert Chair in Medicine
                                          ated treatment center for young                                                    “It gives me great pleasure to be
                                          children with severe hearing loss.                                                 part of the solution for improving
                                             The Caruso’s teenage daughter,                                                  paralyzed patients’ lives.”
                                          Gianna, was born with mild to
                                          moderate hearing loss, presenting
                                          challenges in her daily life as well as
                                                                                                                             Pharmacy Success
                                          in the classroom. This all changed,
                                                                                                                             in the Community
                                          Caruso said, when a team of USC
                                          doctors provided her with a new,          It was a year of medical and
                                          highly sensitive device that was          humanitarian breakthroughs at
                                          inserted into her ear canal. “The         Keck Medicine of USC.
                                          minute the hearing device went in,           A team of physicians and nurses       Recognizing that pharmacists can
                                          there was a huge difference,” Caruso      from Keck Medicine of USC and            help patients improve their health
                                          said, “It was a life changer.”            Children’s Hospital Los Angeles          while saving precious health care
                                             With this endowment, Caruso            traveled to Haiti to separate a pair     dollars, the USC School of Phar-
                                          believes USC, in partnership with         of six-month-old conjoined twins,        macy’s pharmacists and students
                                          Children’s Hospital Los Angeles,          the first such operation performed       work in community settings through-
                                          has the potential to help thousands       in that country. It was a dramatic       out Southern California. Funded by
                                          of children who have hearing loss,        homecoming for Haitian-born surgi-       a major federal grant, their work
                                          particularly those who can’t afford       cal team leader Henri Ford, vice         includes a project in more than a
                                          the latest technology or don’t have       dean for medical education at the        dozen AltaMed clinics, which serve
                                          access to that level of health care.      Keck School of Medicine of USC.          largely low-income populations,
                                          The gift will advance department             The twins, who were connected         that gives patients access to
                                          research and help expand treat-           at the abdomen, were separated in        clinical pharmacists.
                                          ment options.                             a seven-hour surgery and discharged
                                                                                    12 days later. Ford and his medical
                                                                                    team traveled to Haiti almost

22 / 2015 FINANCIAL REPORT University of Southern California
Associate Professor Steven Chen
runs this pilot initiative. Quoted in
an article in the Los Angeles Times,
Chen explained, “That’s the reason
we’ve been very successful, because
someone is taking the time to sit
with the patient.”
   Community programs like these
made the USC School of Pharmacy
the ideal choice for Reyna Raya.
When Raya was 11 she decided she
wanted to become a pharmacist.
At age 51, the single mother and
cancer survivor received her
PharmD, marking the culmination
of a decades-long academic and
personal journey.
   Raya postponed college until
her sons had graduated from high
school, and then, just one year into
undergraduate biology studies, she
was diagnosed with cancer. With
the help of her two sons, who she
calls her “biggest cheerleaders,”
Raya fought to continue her college
studies while undergoing surgeries
and chemotherapy.
   Raya shared her story at Rock
the Pink, a School of Pharmacy event
promoting breast cancer awareness.
The brainchild of Raya, the event
brings together Trojans studying to
become health professionals with
breast cancer survivors and experts.
”I have always had this goal of fin-
ishing school and coming back to
work in my community, and that’s
what kept me going,” said Raya.

                                        University of Southern California   2015 FINANCIAL REPORT /   23
24 / 2015 FINANCIAL REPORT University of Southern California
University of Southern California   2015 FINANCIAL REPORT /   25
Academic Highlights _2014/15

                                                               USC Leventhal School
                                                               of Accounting

    e university’s diverse curricular                         The USC Leventhal School of
                                                               Accounting is consistently ranked
    offerings provide opportunities                             among the top tier of accounting
                                                               programs nationwide. With a focus
    for interdisciplinary study and col-                       on ethics and conceptual strengths
                                                               that transcend technical proficiency,
    laboration with leading researchers                        USC Leventhal produces accounting
                                                               and tax professionals with the knowl-
    in highly advanced learning                                edge and integrity essential for
                                                               success in an increasingly complex
    environments.                                              international economy. Under the
                                                               leadership of Dean William W.
                                                               Holder, the school continues to
                                                               reach new heights of achievement.
                                                               A transformative alumnus gift re-
                                                               named Leventhal’s signature degree
                                                               program the Jennifer and James R.
                                                               Parks Master of Business Taxation
                                                               Program. The gift also funds an
                                                               endowed faculty chair and increases
                                                               the school’s scholarship capacity,
                                                               ensuring that USC Leventhal can
                                                               continue to attract renowned
                                                               thought leaders and competitive
                                                               students. USC Leventhal’s influence
                                                               extended to the international arena
                                                               this year: Accounting and history
                                                               professor Jacob Soll, whose book
                                                               The Reckoning: Financial Accountabil-
                                                               ity and the Rise and Fall of Nations
                                                               became a best seller in 2014,
                                                               offered counsel to Greek officials,
                                                               speaking about the transparency
                                                               that double entry bookkeeping
                                                               brings to a healthy economy.

                                                               USC School of

                                                               Celebrating 100 years of architec-
                                                               ture at USC, the USC School of
                                                               Architecture marked its entry into
                                                               the next 100 years with a dynamic
                                                               program of events: the 100 Years
                                                               Lecture Series, including USC

26 / 2015 FINANCIAL REPORT University of Southern California
Women in Architecture, L.A. Design      ment in flexibility, efficiency and
& Practice, and a Student/Faculty       spaces that inspire art and design
Mentorship panel; a Visions and         without limits. Professor Amelia
Voices evening with Zaha Hadid;         Jones, director of the MA in Curator-
the 2014 Association for Computer-      ial Studies and the Public Sphere
Aided Design in Architecture            program, was honored with the
(ACADIA) conference; and EXPO           College Art Association’s annual
2015, a year-end capstone event         Distinguished Feminist Award for
with final reviews, an exhibition and   her pioneering scholarship. Ceram-
a super jury comprising nationally      ics faculty member Phyllis Green
                                                                                 USC Marshall
renowned figures in architecture.       was honored with a Guggenheim
The school’s professional Bachelor      Fellowship in Fine Arts. Their awards
                                                                                 School of Business
of Architecture and Master of Archi-    model a lifetime of practice and
tecture programs were awarded an        scholarship for USC Roski students.                                                    The USC School of
unprecedented eight-year accredita-                                                                                            Cinematic Arts remains
tion by the National Architectural                                               The USC Marshall School of                    the nation’s top Film
Accrediting Board. The new three-                                                Business is at the forefront of 21st          School and Game Design
year Master of Architecture program                                              century business education. Under             Program, according to
welcomed its first students in fall                                              the leadership of Dean James G.               the Hollywood Reporter
2014, while the undergraduate                                                    Ellis, the school reached significant         and The Princeton
program was ranked in the nation’s                                               milestones in 2015, including                 Review, respectively.
top 10 by DesignIntelligence, the                                                launching its new online MBA. USC            “USC always has kept
most comprehensive rankings re-                                                  Marshall’s state-of-the-art under-            an eye on the future,
port for U.S. architecture programs.                                             graduate building, Fertitta Hall, is          exploring new ideas
USC Architecture faculty continued                                               on schedule to open fall 2016.                and technologies even
to garner national recognition in                                                Influential speakers, including Mark          before Hollywood learns
                                        USC Division of
research, teaching and creative                                                  Cuban and Adam Silver, came to                about them,” read The
                                        Biokinesiology and
practice.                                                                        campus to discuss topics ranging              Princeton Review’s
                                        Physical Therapy                         from entrepreneurship to sports               evaluation.
                                                                                 business. A group of second-year
                                                                                 MBA students was among the first
                                                                                 to travel to Cuba after an historic
                                        The division is a national and inter-    resumption of diplomatic relations.
                                        national leader in physical therapy      Student investors received generous
                                        education, research and innovative       support from alumna Cynthia van
                                        clinical practice, using new tech-       Eck and husband Jan. The academic
                                        nologies to bring learner-centered       year ended on an inspirational note,
                                        approaches to professional educa-        with Evan T. Spiegel, founder of
                                        tion. These include “flipped class-      Snapchat, enjoining graduating sen-
                                        rooms” to streamline the amount          iors to “find something you aren’t
USC Roski School
                                        of time students spend in lectures       willing to sell” in his headline-mak-
of Art and Design
                                        and increase valuable face time          ing commencement speech in May.
                                        with instructors; using iPads to pro-
                                        mote evidence-based practice; and
                                        employing 3D motion capture to
                                                                                 USC School of
USC Roski has pioneered two new         objectively measure motion, giving
                                                                                 Cinematic Arts
collaborative programs: the USC         practitioners the ability to design
Iovine and Young Academy and            more effective clinical interventions.
an online Master of Science in Inte-    The division’s faculty and students
grated Design, Business and Tech-       continue to distinguish themselves.
nology in partnership with WIRED        Professor Lori Michener was named        The USC School of Cinematic Arts
magazine. The inaugural Academy         a Catherine Worthingham Fellow           (SCA) remains the nation’s top Film
cohort of student entrepreneurs and     of the American Physical Therapy         School and Game Design Program,
inventors completed their freshman      Association. Assistant Professor         according to the Hollywood Reporter
year in a flexible-use makerspace       Jason Kutch was elected to the           and The Princeton Review, respec-
called the Garage, stockpiled with      board of the International Pelvic        tively. “USC always has kept an eye
3D printers, a model shop, high-        Pain Society. Professor Carolee          on the future, exploring new ideas
speed workstations and more.            Winstein was invited to serve on the     and technologies even before Holly-
USC Roski classrooms were also          National Institutes of Health Muscu-     wood learns about them,” read
upgraded with consumer-grade 3D         loskeletal Rehabilitation Sciences       The Princeton Review’s evaluation.
printers in three new labs, custom      study section. Doctor of Physical        SCA continues to explore cutting
worktables and mobile electrical        Therapy student Scott McAfee was         edge advancements in film, televi-
infrastructure — an ongoing invest-     elected to the American Physical         sion, animation, and interactive
                                        Therapy Association’s Student
                                        Assembly Board of Directors.

                                                                                                   University of Southern California   2015 FINANCIAL REPORT /   27
media, with research opportunities      Quinn Award for Lifetime Achieve-          ship between Ostrow and the USC
                                          in IMAX immersive media, world-         ment. School of Communication              Chan Division of Occupational Sci-
                                          building, environmental media,          Director Sarah Banet-Weiser                ence and Occupational Therapy,
                                          motion capture and more. Formerly       launched the Institute for Diversity       made possible by a record-setting
                                          the Division of Critical Studies, the   and Empowerment (IDEA). USC                grant from the National Institutes
                                          Bryan Singer Division of Cinema         Annenberg debuted a Maymester              of Health. The grant will support
                                          & Media Studies updated its name        in New York City and Annenberg-            Ostrow and Chan researchers’ in-
                                          to better reflect the diverse spec-     Works, an analytics-driven program         vestigative work on anxiety and
                                          trum of its students’ academic and      that links industry partners with          negative responses by children with
                                          creative pursuits. All USC students     USC Annenberg students.                    autism during dental appointments.
                                          can broaden their horizons with                                                    Ostrow’s alumni and friends com-
                                          one of SCA’s 14 minors, including                                                  munity continued its support with
    The new students, faculty             its latest addition, Media and Social
                                                                                  USC Glorya Kaufman                         50 gifts, which the school will use
    and staff of USC Kaufman              Change. These developments help                                                    to enhance its facilities, student ex-
                                                                                  School of Dance
    are enthusiastically                  attract renowned faculty and indus-                                                perience and community outreach.
    following construction                try professionals, such as award-
    of the state-of-the-art               winning animator Eric Goldberg,
    Glorya Kaufman Interna-               who teaches fundamentals of
    tional Dance Center,                  character animation.                    The USC Glorya Kaufman School
    which will open its                                                           of Dance, the first new school estab-
    doors in 2016.                                                                lished through an endowment at
                                                                                  USC in nearly 40 years, welcomed
                                                                                  its inaugural class in fall 2015. This
                                                                                  talented and diverse group, includ-
                                                                                  ing 15 male and 18 female dancers,
                                                                                  will study with some of the field’s
                                                                                  foremost artistic innovators. An-
                                                                                                                             USC School of
                                                                                  nouncements of new USC Kaufman
                                                                                                                             Dramatic Arts
                                                                                  faculty have generated international
                                                                                  attention in the past year, while a
                                                                                  pioneering curricular partnership
                                          USC Annenberg School
                                                                                  with Hubbard Street Dance Chicago,
                                          for Communication
                                                                                  a leading practitioner of interdiscipli-   The USC School of Dramatic
                                          and Journalism                          nary dance artistry, brought a pro-        Arts continues to be a nationally
                                                                                  gram of intensive workshops to the         recognized leader and innovator in
                                                                                  school. The new students, faculty          dramatic arts education. This year,
                                                                                  and staff of USC Kaufman are en-           the school welcomed the Summer
                                          The USC Annenberg School for            thusiastically following construction      Institute for International Actors’
                                          Communication and Journalism’s          of the state-of-the-art Glorya Kauf-       inaugural cohort. This unique pro-
                                          global reputation for digital media     man International Dance Center,            gram combines rigorous acting and
                                          leadership continues to grow. USC       which will open its doors in 2016.         professional development courses
                                          Annenberg Dean Ernest J. Wilson III                                                taught by the school’s world-class
                                          culminated four years of collabora-                                                faculty with immersive English
                                          tive research with leaders of the                                                  language training at the USC Inter-
                                          school’s communities of practices                                                  national Academy. Greenhouse at
                                          by formalizing “Third Space Think-                                                 The Playhouse, a new partnership
                                          ing,” a new framework for teaching                                                 with The Pasadena Playhouse,
                                          and research. The newly named                                                      further develops the work of emerg-
                                          Julie Chen/Leslie Moonves and                                                      ing playwrights in the Master of
                                          CBS Media Center, located inside                                                   Fine Arts dramatic writing program.
                                          the technologically transformative                                                 The school also launched a new
                                          Wallis Annenberg Hall, knocked                                                     program for Bachelor of Arts
                                          down silos between radio, TV and                                                   students, allowing them to choose
                                                                                  Herman Ostrow School
                                          online culture. This converged                                                     an emphasis in acting or design.
                                                                                  of Dentistry of USC
                                          approach saw students win an                                                       And USC School of Dramatic Arts
                                          astounding 30 prizes at the Los                                                    alumni, including Danny Strong
                                          Angeles Press Club Awards, while                                                   (executive producer of Empire),
                                          competing primarily against profes-                                                Forest Whitaker, Beck Bennett
                                          sional media elites. At the same        For 118 years, the Herman Ostrow           (Saturday Night Live) and many
                                          event, School of Journalism Director    School of Dentistry of USC has             more, continue to make an indelible
                                          Willow Bay received the Joseph M.       been committed to a tradition of           mark on their artistic fields.
                                                                                  excellence. In 2015 Ostrow awarded
                                                                                  nearly 70 academic student scholar-
                                                                                  ships. This year also marked the
                                                                                  start of an interdisciplinary partner-

28 / 2015 FINANCIAL REPORT University of Southern California
graduate program among the
                                         nation’s top 10 and named the           USC Gould
                                         Distance Education Network,             School of Law
                                         DEN@Viterbi, the best online
                                         graduate computer information
                                         technology program for the third
                                         consecutive year. The World Eco-        USC Gould welcomed Andrew
                                         nomic Forum recently named              T. Guzman as its 14th dean. Earlier
                                         Associate Professor Andrea Armani       this year, the school received a
                                         a Young Global Leader, making           major gift from Judge Judith O.
USC Rossier School
                                         her one of only two U.S. professors     Hollinger ’61 to launch the Alterna-
of Education                             so honored. Finally, Andrew Viterbi,    tive Dispute Resolution (ADR)
                                         Qualcomm cofounder and USC              program, one of the few in the
                                         Viterbi namesake, was inducted          nation teaching students the impor-
                                         into CONNECT’s Entrepreneur Hall        tant skills of arbitration and media-
USC Rossier’s mission is to improve      of Fame for founding, leading or        tion. Professor Tom Lyon, along
urban education locally, nationally      advancing a life sciences or technol-   with a team of alumni and students,
and globally. The school’s ground-       ogy-based business or organization      influenced a unanimous Supreme
breaking online Master of Arts in        in San Diego.                           Court decision to accept children’s
Teaching continues to grow, with                                                 statements of abuse as admissible
more than 2,700 graduates from 50                                                testimony. The Post-Conviction
states and 30 countries. The school                                              Justice Project represented the first
                                         USC Leonard Davis
also launched a first-of-its-kind on-                                            juvenile client in California who
                                         School of Gerontology
line EdD in Organizational Change                                                was released from prison under the
and Leadership. A commitment to                                                  California Fair Sentencing for Youth
improve college access to first-gen-                                             Act. In its 14th year, the Master of
eration and underserved students                                                 Laws (LL.M.) program continued                The USC Viterbi School
earned the school a prestigious First    This year marked two milestones         to grow, with 215 students from 39            of Engineering earned
in the World grant from the U.S. De-     for gerontology at USC: the 40th        countries. The online LL.M. pro-              several national distinc-
partment of Education, supporting        anniversary of the USC Davis School     gram, now in its second year, has             tions in 2015. U.S. News
the expansion of the online college      and the 50th anniversary of the         more than doubled its number of               & World Report placed
access game Mission: Admission.          Ethel Percy Andrus Gerontology          students. And the USC Gould gradu-            USC Viterbi’s graduate
USC Rossier had the highest alloca-      Center. USC Davis scientific achieve-   ates of 2014 posted an impressive             program among the nation’s
tion of research funding per faculty     ments in 2015 included a ground-        bar passage rate of 87% — among               top 10 and named the
member of any school of education        breaking study published in Cell        the top three in California.                  Distance Education
in the nation. In fall 2015, USC         Metabolism and led by Assistant                                                       Network, DEN@Viterbi,
Rossier’s successful innovative          Professor David Lee and USC Davis                                                     the best online graduate
charter high school, USC Hybrid          Dean Pinchas Cohen, which de-                                                         computer information
High in downtown Los Angeles,            scribed a newly discovered mito-                                                      technology program for
welcomed its first senior class, while   chondrial hormone, “MOTS-c,” that                                                     the third consecutive year.
a second school, USC East College        mimics the effects of exercise.
Prep, opened in Lincoln Heights.         Another high-profile study, pub-
                                         lished in the Proceedings of the
                                         National Academy of Sciences and
                                         led by University Professors Eileen
USC Viterbi School
                                         Crimmins and Caleb Finch, identi-
of Engineering
                                         fied greater male vulnerability to
                                                                                 USC Dornsife
                                         heart disease as the main reason
                                                                                 College of Letters,
                                         behind the lifespan disparity be-
                                         tween the sexes that emerged in
                                                                                 Arts and Sciences
This year, USC Viterbi programs          the early 20th century. In an innova-
and faculty earned several national      tive educational development affect-
distinctions. USC Viterbi continues      ing millions of older adults across
to recruit world-class faculty: Since    the U.S., USC Davis joined forces       Building upon the university’s Con-
2009, 10 of its junior faculty have      with Bank of America Merrill Lynch      vergent Bioscience Initiative, USC
made MIT Technology Review’s list        to create the Longevity Training        Dornsife launched The Bridge@USC
of “The World’s 35 Top Innovators        Program, an online gerontology          to unite outstanding minds in
under the Age of 35.” USC Games,         course for Merrill Lynch financial      chemistry, biology, medicine, math-
a unique collaboration with the          advisers and benefits/human             ematics, physics and engineering
USC School of Cinematic Arts, was        resources personnel within Merrill      to create the first atomic-resolution
named the No. 1 games program            Lynch’s 35,000 client companies.        model of man. This dynamic model
by The Princeton Review for the                                                  will accelerate the development of
sixth consecutive year. U.S. News &                                              new therapies and cures for a range
World Report placed USC Viterbi’s                                                of diseases and conditions. Blending

                                                                                                   University of Southern California   2015 FINANCIAL REPORT /   29
international relations course work                                             • Thanks to a three-year sole
                                         and internships with policy-focused                                               recipient grant, USC became the
                                         organizations, the semester-long                                                  National Center on Elder Abuse,
                                         Dornsife D.C. program was intro-                                                  providing technical assistance
                                         duced as part of a continued                                                      and training to states and com-
                                         emphasis on practical politics.                                                   munity-based organizations to
                                         The Department of English further                                                 develop effective prevention, in-
                                         bolstered its creative writing faculty                                            tervention and response efforts
                                         with the recruitment of renowned                                                  addressing elder abuse. Led by
                                         American poet Claudia Rankine and
                                                                                  Keck Medicine                            Laura Mosqueda, department
                                         award-winning author Geoff Dyer.                                                  chair of family medicine and geri-
                                         The USC Shoah Foundation part-
                                                                                  of USC
                                                                                                                           atrics, the center also conducts
                                         nered with international organiza-                                                research and advocates for policy
                                         tions to commemorate the 70th                                                     changes on behalf of older adults.
                                         anniversary of the Auschwitz death                                              • The Hastings Foundation awarded
                                         camp liberation, bringing survivors,     Financial support for Keck Medicine      a five-year grant to establish the
                                         teachers and others to Poland for        of USC has a unique and profound         Hastings Center for Pulmonary
                                         a four-day observance.                   impact on not only the patients who      Research at Keck Medicine of
                                                                                  receive treatment there, but also on     USC, which will bring together
                                                                                  the advancement of medicine in the       basic and translation researchers
                                                                                  diagnosis, treatment and prevention      and clinicians to develop new
                                                                                  of diseases touching people around       treatments and cures for pul-
                                                                                  the world. The direct relationship       monary diseases, such as cystic
                                                                                  between gifts and grants, and its        fibrosis, chronic obstructive pul-
                                                                                  application to medicine at USC,          monary disease and idiopathic
                                                                                  is clear and seen in some of this        pulmonary fibrosis, that affect
                                                                                  year’s highlights:                       millions around the world.
                                                                                  • For business leader and USC
                                                                                    trustee Rick Caruso and his wife,
                                         USC Libraries                              Tina, their decision to endow and    USC Thornton
                                                                                    name the USC Tina and Rick           School of Music
                                                                                    Caruso Department of Otolaryn-
    USC Thornton celebrated                                                         gology — Head and Neck Surgery
    a year of extraordinary                                                         and the USC Caruso Family Cen-
    events and accomplish-               The Master of Management in                ter for Childhood Communication
    ments across its diverse             Library and Information Science            is a tribute to their daughter,      The USC Thornton School of
    programs. The school                 program, a partnership between             who was impacted by hearing          Music celebrated a year of extraordi-
    launched a bachelor’s                the USC Libraries and the USC              loss at birth, and extends their     nary events and accomplishments
    degree in music produc-              Marshall School of Business, gradu-        long-standing support of pioneer-    across its diverse programs. The
    tion and welcomed new                ated its first class of 18 students        ing research, health care and        school launched a bachelor’s
    faculty, including Jeffrey           this year. The two-year online de-         education for early-onset hearing    degree in music production and
    Kahane, music director               gree, launched in 2013, is designed        loss (see page 22).                  welcomed new faculty, including
    of the Los Angeles                   to train the next generation of          • USC is considered among the          Jeffrey Kahane, music director of
    Chamber Orchestra.                   information professionals with a           elite research facilities in the     the Los Angeles Chamber Orches-
                                         curriculum focused on developing           world for the study of brain         tra. The USC Thornton Opera pro-
                                         leadership skills, entrepreneurial         injury and disease. Led by the       gram presented the West Coast
                                         thinking and global perspectives.          renowned team of Arthur Toga         premiere of Hans Werner Henze’s
                                         At the May commencement cere-              and Paul Thompson, and en-           “The English Cat,” and the USC
                                         mony, three of the graduating              dowed by longtime USC benefac-       Thornton Symphony performed at
                                         students were recognized for their         tors Mark and Mary Stevens,          Walt Disney Concert Hall. Among
                                         high achievement in academic               the USC Mark and Mary Stevens        USC Thornton’s many accomplished
                                         librarianship. Upon graduation,            Neuroimaging and Informatics         students, Julia Adolphe was com-
                                         numerous graduates had full-time           Institute is helping to speed the    missioned to compose a viola
                                         positions in libraries, with jobs as       transformation of basic research     concerto for the New York Philhar-
                                         diverse as web services manager,           into potential therapies and cures   monic, and Francisco Garcia Fullana
                                         university librarian and head of           for brain-related conditions (see    received a loan of the 1697 Stradi-
                                         access services, while one graduate        page 21). In October, Toga and       varius “Rainville” violin after winning
                                         accepted a fully funded University         Thompson also earned a pair          a prestigious competition in Japan.
                                         of California doctoral fellowship.         of grants from the National Insti-   Veteran faculty members, including
                                                                                    tutes of Health to establish two     drummer Peter Erskine and organ-
                                                                                    centers of excellence in big         ists Cherry Rhodes and Ladd
                                                                                    data research.                       Thomas, received high honors from

30 / 2015 FINANCIAL REPORT University of Southern California
campus and musical communities           with the Class of 2019. Early data      California Advanced Manufacturing
alike, while USC Thornton welcomed       from a three-year study placing         Partnership (AMP SoCal). Last year,
many esteemed artistic collabora-        USC clinical pharmacy teams in 10       CED partnered with the city of Los
tors, among them singer Chaka            safety net clinics shows improved       Angeles to secure a “Manufacturing
Khan and filmmaker David Lynch.          medication use, health outcomes         Community” federal designation
The year concluded with the inaugu-      and reduced costs (see page 22).        for Southern California. This gives
ral Musician’s Wellness Initiative, an   USC Pharmacy is working on              AMP SoCal members preferential
innovative event to raise awareness      statewide implementation of land-       access to a range of federal eco-
about healthy musicianship.              mark Senate Bill 493 recognizing        nomic development funding, which
                                         pharmacists as health care providers,   will support the aerospace and de-
                                         while the nation watches the ex-        fense industry as well as defense-
USC Mrs. T.H. Chan                       panded role for pharmacists taking      impacted firms.                               USC Pharmacy is
                                         shape in California. School research                                                  working on statewide
Division of Occupational
                                         entered a new frontier this year with                                                 implementation of land-
Science and Occupational                 a grant from NASA to conduct a                                                        mark Senate Bill 493
Therapy                                  drug discovery experiment at the                                                      recognizing pharmacists
                                         International Space Station. Profes-                                                  as health care providers,
                                         sor Roberta Diaz Brinton was Los                                                      while the nation watches
                                         Angeles Magazine’s “Woman of the                                                      the expanded role for
At a September 2014 celebration,         Year.” USC now houses the national                                                    pharmacists taking
USC Trustee Ronnie C. Chan MBA           office of the Rho Chi Society, the                                                    shape in California.
’76 and his wife, Barbara, an-           international academic honor soci-
nounced a generous gift to USC’s         ety for the pharmaceutical sciences.
pioneering occupational science          A gift from Ninetta and Gavin Her-
                                                                                 USC School of
and occupational therapy program.        bert established the Margaret and
                                                                                 Social Work
Given in honor of Chan’s mother,         John Biles Leadership Center, which
the gift endowed and named the di-       addresses pressing health issues
vision, now known as the USC Mrs.        while promoting leadership and en-
T.H. Chan Division of Occupational       trepreneurial skills among students.
Science and Occupational Therapy.                                                The USC School of Social Work un-
This was both the first naming gift                                              veiled a new curriculum that places
and the largest ever made to any                                                 a stronger emphasis on the science
occupational therapy program in the                                              of social work, neuroscience and
100-year history of the profession.                                              leadership, and requires students
The gift also extends the division’s                                             to select a department of study:
international reach through the                                                  Children, Youth and Families; Adults
USC Mrs. T.H. Chan Occupational                                                  and Healthy Aging; or Community,
Therapy China Initiative, which will                                             Organization, and Business Innova-
establish a graduate program in                                                  tions. Fast Company magazine high-
occupational therapy in China in                                                 lighted the school’s business course
partnership with a top Chinese uni-                                              work, suggesting the world might
                                         USC Sol Price School
versity. In addition, Florence Clark,                                            benefit if more business leaders
                                         of Public Policy
associate dean and division chair,                                               came out of Master of Social Work
was named the inaugural holder                                                   programs. The Center for Innovation
of the Mrs. T.H. Chan Professorship                                              and Research on Veterans & Military
in Occupational Science and                                                      Families conducted the first com-
Occupational Therapy.                    The USC Sol Price School of Public      prehensive survey of Los Angeles
                                         Policy secured substantial funding      veterans’ transition challenges, re-
                                         for additional student scholarships     leasing a report lauded by national
                                         and student enrichment programs         and local leaders. The school estab-
USC School
                                         this year. USC Price also established   lished an “Innovators in Residence”
of Pharmacy
                                         a new Bachelor of Science in Real       program to provide faculty, staff and
                                         Estate Development degree, com-         students with new approaches to
                                         plementing its signature Dollinger      problem solving. One example is
                                         Master of Real Estate Development       the co-mingling of social work and
As the nation’s health care              program, endowed by alumnus             engineering on big-data projects,
system evolves, the USC School           David Dollinger MRED ’87. For the       such as wireless-based mobile
of Pharmacy continues to lead in         second year in a row, USC Price         health training for older adults with
the advancement of the profession,       broke previous records in externally    disabilities and mapping social
education, practice and research.        funded research support, including      networks of homeless youth.
A thorough review of the Doctor of       two transformative grants to the
Pharmacy program resulted in a           school’s USC Center for Economic
new curriculum to be launched            Development (CED) for further
                                         collaboration with the Southern

                                                                                                   University of Southern California   2015 FINANCIAL REPORT /   31
financial statements_2015

   University of Southern California   2015 FINANCIAL REPORT /   33
Report of Independent Auditors

           To the Board of Trustees of the University of Southern California
           We have audited the accompanying consolidated financial statements of the University of Southern California and its subsidiaries
           (the “university”), which comprise the consolidated balance sheets as of June 30, 2015 and 2014, and the related consolidated statements
           of activities and cash flows for the years then ended.

           Management’s Responsibility for the Consolidated Financial Statements

           Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with
           accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance
           of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material
           misstatement, whether due to fraud or error.

           Auditor’s Responsibility

           Our responsibility is to express an opinion on the consolidated financial statements based on our audits. We conducted our audits in
           accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform
           the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement.

           An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial
           statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the
           consolidated financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant
           to the university’s preparation and fair presentation of the consolidated financial statements in order to design audit procedures that
           are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the university’s internal
           control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used
           and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the
           consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
           for our audit opinion.


           In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of
           the University of Southern California and its subsidiaries as of June 30, 2015 and 2014, and the changes in their net assets and their
           cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.

           Los Angeles, California
           October 14, 2015

34 / 2015 FINANCIAL REPORT University of Southern California
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