Co n s o l i d a t e d S t a t eme n t s o f F i n a n c i a l P o s i t i o n J u n e 3 0 , 2 0 2 3 a n d 2 0 2 2 ($ in thousands) ASSETS 2023 2022 Current Assets: Cash and cash equivalents $ 17,587 $ 33,091 Restricted cash 10,155 11,869 Investments 379,683 343,163 Tuition and other receivables, net 44,934 41,632 Pledges receivable, current portion, net 22,079 15,763 Prepaid expenses and other current assets 14,045 12,532 Total current assets 488,483 458,050 Pledges receivable, net 23,253 27,828 Foundation assets - 7,085 Contributions receivable from remainder trusts 225 234 Scholarship funds held in trust by others 3,593 3,448 Designated investments 57,693 51,931 Restricted investments 107,695 94,848 Other investments 293,546 281,206 Restricted cash and cash equivalents 27,652 21,422 Land, buildings, and equipment, net 889,752 893,841 Operating lease right-of-use assets 74,905 92,520 Other assets 24,051 21,914 Total assets $ 1,990,848 $ 1,954,327 LIABILITIES AND NET ASSETS Current liabilities: Accounts payable and accrued liabilities $ 50,165 $ 60,180 Deferred revenue 77,335 74,116 Current portion of long-term debt 13,940 13,460 Operating lease liabilities, current 19.898 22,490 Other current liabilities 29,150 24,121 Total current liabilities 190,488 194,367 Long-term debt 580,036 596,031 Due to beneficiaries under remainder trusts and annuities 99 105 Accrued insurance cost 14,460 12,233 Deferred revenue 10,904 11,809 Operating lease liabilities 57,164 73,051 Other liabilities 22,304 24,579 Total liabilities 875,455 912,175 Net assets: Without donor restrictions $ 906,215 $ 854,452 With donor restrictions 209,178 187,700 Total net assets 1,115,393 1,042,152 Total liabilities and net assets $ 1,990,848 $ 1,954,327 See accompanying notes to consolidated financial statements. 13
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