Ma n a g eme n t ’ s D i s c u s s i o n a n d A n a l y s i s J u n e 3 0 , 2 0 2 3 a n d 2 0 2 2 Department of Environmental Protection for various coral reef research and mitigation efforts promoting the restoration, resilience, and diversity of coral species impacted by disease. KPCAM was awarded $2.3 million to establish a research program for nanomedicine, novel drug discovery, and cancer research. The Barry and Judy Silverman College of Pharmacy was awarded $1.5 million from the National Institutes of Health to enhance research training for underrepresented undergraduate students and to foster successful completion of biomedical graduate programs. The College of Computing and Engineering was awarded $2.5 million to build research and education infrastructure in highperformance computing and develop a high-skilled cybersecurity workforce. Also of note and in line with NSU’s core value of innovation, the Alan B. Levan | NSU Broward Center of Innovation was awarded nearly $4.0 million in grants from the United States Department of Education to build artificial intelligence and spatial computing infrastructure to broaden access and meet workforce demands in South Florida’s emerging technology sector. Financial Performance Total revenues were $823.1 million in fiscal 2023, up 22.1 percent from $674.1 million in the prior year. The increase was primarily attributable to improved investment market conditions, with $24.4 million of unrealized gains in fiscal 2023, compared to $78.5 million of unrealized losses in fiscal 2022. When excluding net realized and unrealized investment gains and losses, total revenues increased $52.4 million or 7.0 percent to $799.9 million in fiscal 2023 from $747.5 million in fiscal 2022. Total expenses increased by 9.3 percent to $749.8 million in fiscal 2023 from $686.0 million in fiscal 2022. The resulting increase in total net assets was $73.2 million or 7.0 percent. FY 2023 COMPOSITION OF REVENUES Investment Income and Gains/Losses—5.1% Net Tuition and Fees—75.2% Contributions and Private Grants—3.8% Government Grants and Contracts—4.5% Auxiliary Operations—6.9% Other Revenues—4.5% Revenues Net Tuition and Fees Fiscal 2023 total tuition and fees (reported net of scholarships and discounts) approximated $619.2 million, increasing $34.9 million or 6.0 percent from fiscal 2022. Diversification Within Tuition Revenue NSU’s academic programs are as diverse as its student body; accordingly, there are several components of enrollment and resulting tuition revenue. n 15 different colleges and schools n over 150 academic degree programs with varying tuition rates n 67 percent graduate and first-professional students; 33 percent undergraduate students 3
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