Honoree

MaryFrances McCourt

AWARDS

President's Medal for Excellence (2016)
Presenter: Michael A. McRobbie

BIOGRAPHY

MaryFrances McCourt joined IU in 2005 as university treasurer and has served as a vice president and chief financial officer since January 2013. She was named senior vice president and CFO in April 2014.

In her role at IU, she was responsible for the financial management of an institution with nearly 115,000 students across the state, a budget approaching $3.5 billion and a human resources operation that provides service to over 20,000 faculty and staff members.

Named 2014 CFO of the Year by the Indianapolis Business Journal, McCourt led a number of initiatives to optimize the financial performance of the university's $2 billion investment and $1 billion debt portfolios, and strengthened IU's long-range financial planning.

She was instrumental in guiding the university's strong fiscal performance during the 2008 financial crisis and subsequent recession, which resulted in IU earning and retaining its AAA credit rating from Moody's Investors Service. Moreover, in February, IU became one of only six public universities in the country to achieve the highest rating from both Moody's and Standard & Poor's after the rating for bonds issued by IU was increased to AAA by Standard & Poor's Rating Services.

Her duties at IU also included oversight for the IU Office of Student Financial Literacy, established in 2012, where her leadership played a pivotal role in a 16 percent decline in student borrowing over the past three years, resulting in approximately $82.5 million in debt reduction. The IU student loan debt letter -- an annual practice begun in the 2012-13 academic year that provides information on debt amount and repayment timeline to all student borrowers -- was praised nationally last year by Yahoo Finance as one of five "genius ways colleges are tackling the student debt crisis."

In addition, McCourt is responsible for IU saving $214 million over a period of four years through volume buying and applying procurement best practices. She is also one of the architects of the university's Healthy IU employee wellness initiative and remains a strong advocate for the program.

In October, her expertise was called upon by the United States House Ways and Means Committee's Subcommittee on Oversight, before which she testified about university endowments and college tuition.

McCourt holds a bachelor's degree in economics from Duke University and Master of Business Administration degree from Case Western Reserve. She is a former board member on the Community Foundation of Bloomington and Monroe County.