For over two decades, CIC has produced the Key Indicators Tool (KIT) and Financial Indicators Tool (FIT) reports for member institutions. These reports curate data from the Integrated Postsecondary Education Data System (IPEDS) which is made public by the National Center for Education Statistics (NCES). Working with the Austen Group, that data has been curated and shared with members through a set of Excel workbooks.
Members have used the KIT and FIT reports to inform decision making about enrollment, graduation and retention rates, expenses, revenues, and various financial ratios in the context of institutional size, Carnegie classification, financial status, and region.
Given the value of these benchmarking reports based on member feedback, CIC is enhancing them and will shift to an interactive presentation, providing members the flexibility to customize the reports to suit their needs. A new design will provide more interactive and user-friendly engagement with this valuable member resource.
After a competitive RFP process, CIC selected UQ Solutions to provide interactive dashboards and to develop enhancements to the current tools. UQ Solutions has worked with dozens of colleges and universities nationwide, with a focus on smaller not-for-profit private colleges and universities. Their commitment to the independent sector, relationships with current CIC members, and ability to present complex data in clear and actionable ways were drivers in the selection. In addition to their technical expertise, UQ Solutions will work with CIC to develop customized tools that are responsive to members’ needs as they grow and change.
“We have admired CIC for years and are excited to support the mission of this organization,” said Seth Houston, founder and CEO of UQ Solutions. “We look forward to working with CIC and its member institutions on KIT/FIT reporting and providing data to help them assess their financial performance, set appropriate targets, and prioritize areas for focused attention.”
CIC President Marjorie Hass is pleased to see these resources envisioned in a new way and has remarked on how she used the tools when she was a president at two different institutions.
“I always found these tools to be a tremendous aid in understanding my own institution and used the metrics and comparative data to inform strategic planning and to help explain institutional performance to various audiences,” Hass said. “I’m excited to see the improvements that UQ Solutions will implement to support CIC members.”
CIC is looking forward to releasing the interactive version of KIT and FIT reports in Spring 2025. In the meantime, the current reports are available on the CIC website.