Annual Report 2022

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 2 a n d 2 0 2 1 0 100 200 300 400 500 600 700 800 900 1,000 $ 1 , 100 $ $ $ $ $ $ $ $ $ $ $ FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 NET ASSETS Total Dollar Amount in Millions Without Donor Restrictions With Donor Restrictions Overview Despite historic conditions adversely impacting the financial markets during the last half of fiscal 2022, Nova Southeastern University (NSU, or the university) maintained its fiscal strength with sustained total net assets of over $1.0 billion. As demonstrated in the following chart, over the past decade, total net assets have grown by 83 percent, from $570.6 million as of June 30, 2012, to $1.0 billion as of June 30, 2022. Factors contributing to the sustained growth include the university’s diverse academic program offerings and student base, coupled with strong philanthropic support, as well as its ability to respond and adapt to the challenges and changes inherent in higher education. Operational Highlights During an unprecedented global pandemic, NSU remained steadfast in its commitment to advancing strategic priorities. During fiscal 2021, the university embarked on the next phase of its plan, striving toward preeminence with Vision 2025. During fiscal 2022, the updated business plan was published and goals were unveiled in the areas of students; philanthropic resources; scholarship and research; community service; and belonging, equity, diversity, and inclusion. NSU’s strategic emphasis drove operating results and noteworthy milestones during fiscal 2022, including n Sustained strong overall fall-term university enrollment of 20,898, with record-high total undergraduate enrollment of 6,637 n Continued expansion in academically high-demand and industry-relevant programs n Advancement of strategic capital plans and the opening of a new center focused on innovation n Enhanced ranking and reputation, emanating from academic quality recognition and research accomplishments ExpandingUndergraduate andHealth Professions Programs In fall 2021, NSU welcomed 1,672 first-time-in-college freshmen, near its record of 1,689 in fall 2020. For the fifth year in a row, NSU’s overall undergraduate enrollment increased, growing 55 percent from fall 2016 to fall 2021. The distinctive Dual Admissions Program, offering prospective undergraduate students a reserved spot in selective graduate/professional programs, continues to attract academically highly qualified students, 1