Annual Report 2022

Co n s o l i d a t e d S t a t eme n t s o f A c t i v i t i e s J u n e 3 0 , 2 0 2 2 a n d 2 0 2 1 (with summarized financial information for the year ended June 30, 2021) ($ in thousands) Without Donor Restrictions With Donor Restrictions 2022 Total 2021 Total REVENUES AND RELEASES Net tuition and fees $ 584,260 $ - $ 584,260 $ 565,337 Contributions and private grants 2,128 16,394 18,522 38,265 Government grants and contracts - 55,902 55,902 42,727 Auxiliary operations 50,247 - 50,247 40,671 Interest and dividends 13,812 1,673 15,485 12,015 Net unrealized (loss) gain on investments (54,163) (24,324) (78,487) 37,060 Net realized gain on sale of investments 3,169 1,936 5,105 3,975 Other revenues 15,813 7,259 23,072 18,353 Net assets released from restrictions 87,383 (87,383) - - Total revenues and releases 702,649 (28,543) 674,106 758,403 EXPENSES Salaries and wages 303,963 - 303,963 290,250 Employee benefits 74,291 - 74,291 72,042 Supplies and services 111,913 - 111,913 88,971 Space and occupancy 66,810 - 66,810 56,289 Depreciation and amortization 48,231 - 48,231 58,392 Interest 19,475 - 19,475 17,557 Other 61,357 - 61,357 48,575 Total expenses 686,040 - 686,040 632,076 CHANGE IN NET ASSETS 16,609 (28,543) (11,934) 126,327 Net assets, beginning of year 837,843 216,243 1,054,086 927,759 NET ASSETS, END OF YEAR $ 854,452 $ 187,700 $ 1 ,042, 152 $ 1,054,086 See accompanying notes to consolidated financial statements. 14

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