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Dear Friends, “CCU changed my lie.” In the fve years since I became President o Colorado Christian University, I’ve heard words to this eect again and again rom students, alumni, parents, and others. It’s a thrill when someone says something like this because, ater all, that’s the business we’re in—changing lives. O course it really isn’t CCU; it is Jesus who changes lives. And we are honored to be part o what He is doing on campus and around the world. By the grace o God, and with the help o dedicated aculty, sta, and riends like you, Colorado Christian University has much or which we are thankul. CCU is soaring: enrollments, academic standards, and student achievements continue to rise; star aculty are knocking on our door; we’re hearing extraordinary reports rom missions trips around the world; our musicians and athletic teams are thriving; Centennial Institute, CCU’s think tank, is gaining national acclaim or its publications and events; our scholars are receiving more and more proessional recognition. We are celebrating fve consecutive years “in the black,” a remarkable outcome durin g an economic downt urn when many institutions o higher learning are struggling. We thank God—and aithul riends like you on whose support we depend—or blessing the university and our students. While we are in a very advantageous position—we have wonderul riends and serve an awesome God—we also encounter many challenges. The university’s uture is threatened by the national economic downturn, the secularization o our culture, and increasingly, by the prolieration o burdensome ederal regulations. In addition, we ace increases in normal expenses such as health care, technology costs, salaries, insurance, utilities, etc. But there is one budget item that’s rising very, very quickly and which I’d like to increase even aster—scholarships. This year we plan to award over $8 million in scholarship aid or students, an amount that has more than doubled in the past fve years. Although our tuition is in the mid-range o private Christian universities around the country, the cost o going to school is a real stretch or many students and amilies. Thereore, we are eager to continue growing our scholarship programs. They are costly but priceless in opportunity or our students. I share all this with you or three reasons: First, to let you know how God is blessing the university, permitting us to meet our obligations, grow enrollment, increase scholarshi ps, r ecruit and retain excellent acu lty and sta, raise academic stand ards, feld outstanding athletic teams, and balance the university’s budget, year ater year; Second, to keep you “in the loop” about challenges we are acing; and, most importan t, to express our heartelt appreciation. We are truly grateul to riends like you who support scholarships or our students, mission trips, athletic programs, and special projects. You are a tremendous encouragement. Thank you or all you do or our students, including fnancially supporting our eorts during the past year. Sincerely, William L. Armstrong President

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Dear Friends,

“CCU changed my lie.”

In the fve years since I became President o Colorado Christian University, I’ve heard words to this eect againand again rom students, alumni, parents, and others. It’s a thrill when someone says something like thisbecause, ater all, that’s the business we’re in—changing lives.

O course it really isn’t CCU; it is Jesus who changes lives. And we are honored to be part o what He is doing oncampus and around the world. By the grace o God, and with the help o dedicated aculty, sta, and riendslike you, Colorado Christian University has much or which we are thankul.

CCU is soaring: enrollments, academic standards, and student achievements continue to rise; star aculty areknocking on our door; we’re hearing extraordinary reports rom missions trips around the world; our musiciansand athletic teams are thriving; Centennial Institute, CCU’s think tank, is gaining national acclaim or itspublications and events; our scholars are receiving more and more proessional recognition.

We are celebrating fve consecutive years “in the black,” a remarkable outcome during an economic downturnwhen many institutions o higher learning are struggling. We thank God—and aithul riends like you on whosesupport we depend—or blessing the university and our students.

While we are in a very advantageous position—we have wonderul riends and serve an awesome God—wealso encounter many challenges. The university’s uture is threatened by the national economic downturn,the secularization o our culture, and increasingly, by the prolieration o burdensome ederal regulations. In

addition, we ace increases in normal expenses such as health care, technology costs, salaries, insurance,utilities, etc.

But there is one budget item that’s rising very, very quickly and which I’d like to increase even aster—scholarships.This year we plan to award over $8 million in scholarship aid or students, an amount that has more thandoubled in the past fve years. Although our tuition is in the mid-range o private Christian universities aroundthe country, the cost o going to school is a real stretch or many students and amilies. Thereore, we are eagerto continue growing our scholarship programs. They are costly but priceless in opportunity or our students.

I share all this with you or three reasons:

First, to let you know how God is blessing the university, permitting us to meet our obligations, grow enrollment,increase scholarships, recruit and retain excellent aculty and sta, raise academic standards, feld outstanding

athletic teams, and balance the university’s budget, year ater year;

Second, to keep you “in the loop” about challenges we are acing; and, most important, to express our hearteltappreciation. We are truly grateul to riends like you who support scholarships or our students, mission trips,athletic programs, and special projects. You are a tremendous encouragement. Thank you or all you do orour students, including fnancially supporting our eorts during the past year.

Sincerely,

William L. Armstrong

President

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The Word became esh and made his dwelling amongus. We have seen his glory, the glory of the one and only

son, who came from the Father, full of grace and truth” (John1:14). In 1914, Denver Bible Institute was founded on thoseprinciples—grace and truth. The rst classes encompassedonly two students and one teacher, but from those modestbeginnings, Colorado Christian University was born.

In 1945, Denver Bible Institute became Denver Bible College, afour-year college with three academic schools: the College ofLiberal Arts, the Theological School, and the Bible Institute. Fouryears later, the school became Rockmont College—aroundthe same time that Western Bible Institute was founded.

It wasn’t until the 1980’s that drastic change occurred again. The two schools mergedin 1985, forming Colorado Christ ian College. By 1989, however, the need for a agshipChristian institution in Colorado was evident: Colorado Baptist University joinedColorado Christian College to form the school we know today. Now, there are almost4,000 graduate and undergraduate students spread out around Colorado—scholarsdedicated to integrating high-level academics with timeless faith. Almost 100 yearslater, students continue to learn in grace and truth.

Colorado Christian University’s rich spiritual historypre-dates our current name. Even back in 1934,students, staff, and faculty met for chapel.

1945

Denver Bible InstituteBecomes Denver BibleCollege

1948

Western Bible InstituteEstablished

1949

Denver Bible CollegeBecomes RockmontCollege

1914

Denver Bible InstituteEstablished

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1975

Western Bible Institute BecomesWestern Bible College

1983

Colorado BaptistUniversity Established

1985

Western Bible College andRockmont College merge to formColorado Christian College

1989 - Present

Colorado Christian College andColorado Baptist University merge toform Colorado Christian University

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We envision graduates who think critically and creatively, lead with high ethical and professional standards, embody the character

and compassion of Jesus Christ, and who thereby are prepared to impact the world.

2011-2012 Theme Verse

“But just as He who called you is holy, so be holy in all you do;

for it is written: ‘Be holy, because I am holy.’” - 1 Peter 1:15-16

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Top 5 MajorsBusiness AdministrationElementary Education (Liberal Arts Major)PsychologyBiology (Pre-Medicine Studies)Youth Ministry

Colorado Christian University believes that rigorous academics transform students

to become better leaders in today’s world. To that end, classes are developed tointegrate concentrated learning with dynamic faith, both challenging and motivatingstudents to ll their roles in God’s kingdom to the fullest.

Distinctive ProgramsInternational BusinessPre-LawPre-Med StudiesSound Recording TechnologySpecial Education

Average GPA: 3.52Average ACT score: 23.9Average SAT score: 1599No courses are taught by graduate studentsAverage class size: 13Fulbright Scholars: 4

“The knowledge and experience of my CCU professors has been invaluable to me.They truly prepare students for what they will face after college.”

- Katie Miller, Business Administration major 

Graduate:450

Undergraduate:960

Adult:

2,534

TOTAL ENROLLMENT: 3,9442011-2012

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W

hat binds us together at Colorado Christian University is

our shared faith. It is the dening center of our lives. Weexperience God’s kingdom through community: we rejoiceand praise together; we lament and cry together; we seek Godtogether.

Christ’s grace and reality permeate everything that happensat CCU. Our role in participating with Christ’s work includes usdiscovering His kingdom on a community-wide level.

As students serve and love each other, they nd CCU is not onlya place of abundant living but a place to enjoy the richness ofChrist in all their relationships.

10.

“Sharing your own story is one of the most dynamic aspects of community at CCU.Another student recently told me that his transformation here has been largely dueto the weekly tradition known as Storytime. It allowed him a chance to open up toothers and also hear about their lives. He saw the Lord healing wounds, providingaccountability, and giving them opportunities to speak deeply into each other’shearts.”

- Chris Ray, Business Administration major 

HIGHLIGHTS:• College of Undergraduate Studies students

serve at least 180 Ministry Hours beforegraduation

• Students participate in Chapels, DiscipleshipGroups, Men’s and Women’s Ministry,Mentoring, Prayer Ministry, and Small Groups

• 100+ Chapel opportunities are presentedeach year

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Iwill show you my faith by my deeds” (James 2:18b). Our Year of Evangelism provided a strong missional focus for 2010-2011 and

inspired our community to pour out our faith through action. The entire school found ways to par ticipate: from I, Witness , a passion playput on by the School of Music aimed at introducing non-believers to Christ, to a live nativity this past Christmas, to our Outbreak pastors’conference in January, which drew pastors from the Midwest to the Pacic. All of these focused on bringing the Gospel to dry places—introducing others to the Risen Christ.

On the international level, our CCU2theWorld program enables students to create dynamic and life-changing mission trips. Whethercaring for orphans or ministering to skiers, our community takes a call to missions seriously. We work out our faith by what we do, bymaking disciples in Denver, in Colorado, and the ends of the earth.

2010-2011 CCU2THEWORLD REVIEW:

• 11 International Mission Trips• 3 Domestic Mission Trips• 13% of CUS Students Participated• 27 Staff and Faculty Members Participated• Over 165 Days of Mission Trip Service

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Compete: the roots of the word mean “to strive together.” At Colorado Christian University, we continually strive together, becauseathletics is about more than shooting a ball or running harder. Competition makes students better scholars, leaders, and disciples.

2010-2011 SCOREBOARD:

• First-ever Women’s Basketball NCAA Division II TournamentAppearance

• Volleyball - NCCAA Central Region Champions

• Third Consecutive Year Receiving RMAC Sportsmanship Cup

• 20% of CUS Students are Student-Athletes

• 7 Athletes Named to NCCAA All-AmericanTeams

• 15 Athletes Named to Academic All-RMACTeams

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“Within 15 months I nished my degree. The classes related exactly to what I wasdoing in my job, teaching me how to be a project manager. If I knew pursuing my

degree was that much fun, I would have done it 30 years ago.”

– Judy Brannberg, Bachelor of Science in Organizational Management, Project Management 

T

he College of Adult and Graduate Studies (CAGS) at ColoradoChristian University provides opportunities for adult learners to

continue their studies at the associate, bachelor’s, and master’slevels. CAGS makes a degree possible for professionals, andclasses are often scheduled during weeknights or over theweekend to meet the needs of an adult population. Coursesat CAGS are taught from the same Christian worldview asundergraduate classes—with an emphasis on the integrationof faith and learning.

Locations:Colorado Springs LakewoodDenver Tech Center Loveland

Grand Junction NorthglennGlobal Online Sterling

HIGHLIGHTS:• 17 Undergraduate Degree Programs• Unique Nursing Program• Three Graduate Programs

- Masters of Business Administration- Masters of Arts in Counseling- Masters of Arts in Curriculum and Instruction

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Colorado Christian University takes seriously the investmentthat students are putting into their futures—an investment

of time and resources. We seek to come alongside students andhelp them invest, through merit scholarships and need-basednancial aid. While a private liberal arts college can be costly, webelieve that any student who is accepted here will nd this to bea worthy and valuable investment.

CCU offers a strong selection of academic scholarships, whichprovides merit-based aid for our students. While many studentsreceive need-based aid, a full 95% of all students receive somenancial assistance, often in the form of institutional scholarshipsand grants.

We also award scholarships for excellence in Athletics, MusicPerformance, and extend Partner Initiative Scholarships (apartnership with Christian organizations, high schools, andministries that provides nancial support for students associatedwith certain institutions).

GROWTH OF SCHOLARSHIPS AWARDED:

2008 2009 2010 2011

$4.9 M

$5.5 M

$6.6 M

$7.8 M

2007

$4.8 M

111% increase

19.

2006

$3.7 M

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The Beckman Scholarship Annual Fund providessupport for CCU students through need-based

scholarships. As such, the fund plays a crucial rolein providing annual nancial aid. Every gift to theBeckman Scholarship Annual Fund directly helpsa CCU student.

As alumni and friends of the university continue

to partner with CCU, students’ nancial needs aremet and the path to graduation is accessible tosuccessful students who would not otherwise havethe opportunity to pursue Christ-centered highereducation at Colorado Christian University.

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All gifts of $10,000 or more designated before June 30, 2012, toestablish new endowed scholarships or to increase existingendowed scholarships for the College of Undergraduate Studies willbe matched by an anonymous donor who has pledged $250,000for this purpose.* The $500,000 Endowed Scholarship Challenge ismeant to encourage support of the endowed scholarship programat CCU and to increase giving to this important aspect of ColoradoChristian University.

Increasing CCU’s endowed scholarship program enhancesColorado Christian University’s long-term ability to provide highquality, Christian education to deserving students—men andwomen who are the hope and future of America.

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*Other guidelines and parameters apply.

IMPACT OF $500,000 IN NEWENDOWED SCHOLARSHIPS:

$25,000 awarded in the rst year$138,237 awarded after ve years$288,262 awarded after 10 years$451,078 awarded after 15 years$819,544 awarded after 25 years

The numbers above are based upon 5% distributions yearly and anassumption of 7% growth. These numbers are projections only andcould increase or decrease depending on market conditions.

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T

he Centennial Institute exists to enhance public understanding of prominentissues relating to faith, family, and freedom in our nation. As the think tank of

Colorado Christian University, it sponsors research, events, and publications inorder to foster these ideals and teach responsible citizenship.

The Centennial Institute hosts lectures and debates throughout the year, andeach summer the Western Conservative Summit features respected journalistsand political leaders at the center of the national conversation. Speakers haveincluded:

• Michele Bachmann• Michael Behe• General William Boykin• Arthur Brooks

• Pat Caddell• Herman Cain

As part of its mission, this past spring the Centennial Institute hosted a Tribute to theTroops, and Sarah Palin delivered the keynote address. In doing so, she asserted thevirtue of CCU’s strategic values, while also reminding the audience that freedom,though a God-given right, requires sacrice. As we debate values or assert ourfreedoms, we can do so because of veterans who fought for such freedoms.

With a mission to guide our nation far into the future, the Centennial Institutecontinues to be a resounding voice for ethical conduct and responsibility. By

proclaiming Truth, the Centennial Institute continues to foster faith, family, andfreedom, teach citizenship, and renew the spirit of 1776.

• Sarah Palin• Rick Perry• Ralph Reed• Cal Thomas

• Juan WIlliams• Robert Woodson

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GREG STIER

PRESIDENT AND COFOUNDEROF DARE2SHARE MINISTRIESDegree Earned: B.A. IN YOUTH MINISTRYClass Year: 1988

In 1991, Greg cofounded Dare2Share Ministries part timein Arvada, Colorado. The goal was to mobilize students

at every high school and middle school in America asrelentless followers of Christ who develop a relational,lifetime habit of helping others do the same.

Dare2Share is now a full time ministry that holds annualconferences nationwide and has trained numerous youthleaders, published nine books, developed a wide lineof online media, and produced two reality video series.While at Colorado Christian University, Greg developed histheological framework and ministry philosophy.

Teenagers value authenticity and a personal environment,so Greg incorporates these elements in his approach.Despite critics’ jabs, he still unabashedly presents thereality of heaven and hell and the eternal ultimatum,but in teen language, and has found it really resonates,however uncomfortable the topic. To date, he’s helpedmobilize close to 400,000 teenagers from all fty states.

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Dr. Gerald W.May

Mr. William L.Armstrong

Dr. Toby P.Cole

Mr. TerryConsidine

Dr. James S.Dixon

Mr. ChickLee

Ms. TerryLeprino

Dr. Dale W.Schaefer

Mr. DonaldSiecke

Dr. Donald W.Sweeting

Mr. Harold A.“Hal” Krause

24.

Colorado Christian University’s Board ofTrustees is made up of distinguished

business, ministry, and community leaders.Their combined experience provides astrong foundation for university guidance.

The Board of Trustees exercises ultimateauthority over the University, accountable

to God and history, and otherwise constrainedonly by the teaching of Scripture, applicablelaw, and regulations.

While retaining ultimate policy-makingauthority, the Board of Trustees has delegatedmanagement authority to the President.

Informed by Scripture, academic tradition, anduniversity best practices, the Board of Trusteesexercises its institutional authority throughstatements of mission, vision, and strategic

objectives.

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Ms. LeeMcDowell

Vice-Chairman

Dr. Margaret A.Fomer

Mr. TimMcTavish

Dr. John A.Turner

Mr. William J.White

Chairman

Mrs. Kaye LynnFote

Mr. Don M.Harwell

Mr. SamKimbriel

Mr. WilliamPauls

Mr. WaltRakowich

Dr. Robert L.Woodson, Sr.

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Fiscal Year Ended June 30, 2011 Fiscal Year Ended June 30, 2011

Condensed Balance Sheet 2011 2010  

Assets

Cash & Cash Equivalents $12,146,964 $10,571,462

Accounts Receivable, Net 1,617,009 1,861,926

Investments 22,144,372 21,725,952

Property and Equipment, Net 15,234,284 14,499,024

Other Assets 4,986,668 3,522,094

Total Assets $56,129,297 $52,180,458

LiabilitiesAccounts Payable and Other $1,705,967 $1,739,261

Deferred Revenue 2,888,163 2,849,011

Bonds Payable 9,760,000 10,000,000

Other 1,055,309 1,142,008

Total Liabilities 15,409,439 15,730,280

Net Assets

Unrestricted 35,502,133 32,922,179

Restricted 5,217,725 3,527,999

Total Net Assets 40,719,858 36,450,178

Total Liabilities and Net Assets $56,129,297 $52,180,458

Condensed Statement of Activities 2011 2010  

Operating Revenue

Tuition Revenue $36,938,584 $33,666,096

Scholarships and Grants (7,827,173) (6,565,639)

Auxiliary Services 5,162,721 4,582,213

Contributions 2,088,068 1,472,339

Other 1,696,339 1,759,859

Total Revenue 38,058,539 34,914,868

Operating ExpensesInstruction 12,551,784 12,350,236

Academic Support 4,133,247 3,914,819

Student Services 10,139,944 9,186,529

Auxiliary Enterprises 3,998,412 4,230,263

Total Program Expenses 30,823,387 29,681,847

Support Activities

General and Administrative 4,486,183 3,066,537

Fund Raising 792,781 823,376

Public Service 668,870 248,311

Total Support Expenses 5,947,834 4,138,224

Total Operating Expenses 36,771,221 33,820,071

Change in Net Assets from Operations 1,287,318 1,094,797

Capital Contributions 2,231,754 1,105,734

Investment & Other Non-Operating 750,608 (814,429)

Change in Net Assets $4,269,680 $1,386,102