Drexel University and Subsidiaries
Consolidated
Statement
of Activities
Drexel University
and
Subsidiaries
for the
year ended June Statement
30, 2014 (in thousands)
Consolidated
of Activities
Drexel University and Subsidiaries
Consolidated
Statement
of Financial
Drexel
University
and Subsidiaries
as
of
June
30,
2014
(in
Position
Consolidated Statement ofthousands)
for the year ended June 30, 2011 (in thousands)
financial position
as
of June 30, 2011 (in thousands)
TOTAL
OPERATING REVENUE
TuitionOPERATING
and fees REVENUETOTAL
$ 802,867
Tuition and financial
fees
$610,186
Less: Institutional
aid
(203,281)
Less: Institutional financial aid
(137,727)
Net student revenue
599,586
Net student revenue
472,459
PatientPatient
care activities
109,364
care activities
95,595
State appropriations
8,179
State appropriations
13,652
Government
grantsgrants,
and contracts
92,004
Government
contracts
Private grants
and contracts
17,626
and contributions
121,673
PrivatePrivate
gifts grants and contracts
28,083
13,886
Endowment
payout
under
Private gifts
66,540
spending
formula
26,063
Endowment
payout under
Investment
incomeformula
4,917
spending
21,976
Sales and
services
of
auxiliary
enterprises
86,134
Investment income
3,870
Other Sales
sources
14,518
and services of auxiliary enterprises
73,902
Other
sources revenue
Total
operating
Total
operating revenue
OPERATING
EXPENSE
13,403
986,474
896,956
College programs
349,053
OPERATING
EXPENSE
Research
and public
service
108,145
College
programs
275,042
Academic
support
28,954
Research
97,877
Student
servicesand public service
46,780
Academic
support
22,017
Institutional support
130,060
Student and
services
39,823
Scholarships
fellowships
13,489
Institutional
support
105,392
Auxiliary
enterprises
45,015
Scholarships and fellowships
16,971
Total education and general
721,496
Auxiliary enterprises
39,042
PatientTotal
care activities
129,299
education and general596,164
Operation
and
maintenance
52,940
Patient care activities
110,959
Interest17,957
Operation and maintenance
44,120
Depreciation
and amortization
43,326
Interest16,590
Total
operatingand
expense
965,018
Depreciation
amortization
31,227
Change
in net
assets from
Total
operating
expense 799,060
operating
activities
21,456
Change
in net assets from
operating
activities
97,896
NON-OPERATING ACTIVITY
Endowment and other gifts
15,929
NON-OPERATING
ACTIVITY
Realized/unrealized
net gain
on
investments,
net of endowment
payout
67,675
Endowment
and other gifts
15,318
Other Realized
non-operating
expense gains (11,536)
and unrealized
Change
in net
assets from
(includes
net endowment
payout)
62,660
non-operating
activities
72,068
Other non-operating
expense
(9,480)
Change
in net assets
Change
in net assets from 93,524
non-operating activities 68,498
net assets
Change in net assets
166,394
Beginning of year
1,053,866
Net assets at beginning of year685,768
End of
year
$1,147,390
Net assets at end of year$852,162
2014
ASSETS
ASSETS2011
Cash and cash equivalents
Cash
and cash equivalents
Operating
$ 106,992
Restricted
Operating cash $58,504
7,017
Accounts
Risk Retention
Group
4,773
receivable,
netcash
Accounts
receivable, net
Tuition
50,720
Tuition
47,368 60,940
Grants, contracts and other
Patients
Grants, contracts and other
33,865
8,043
Patients
6,890
Tenet Healthcare Corporation
1,746
Total
Tenet Healthcare
981
accounts Corporation
receivable,
net
Contributions
receivable,
net
100,313121,449
Other assets
25,368
Contributions
receivable,
Deposits
with bond
trusteesnet
101,566 72,334
Other loans
assetsreceivable, net
Student
30,690 20,184
Deposits
with
bond
trustees
1,983
Beneficial interest in trusts
38,939
Student
loans
receivable,
net
35,106
Investments544,696
Beneficial
interest
trusts
Land,
buildings
andinequipment,
net 644,834 56,438
Investments676,669
Land, buildings
and equipment,$1,638,787
net
884,807
Total
assets
Total assets
$1,982,979
LIABILITIES
LIABILITIES
Accounts
44,626 48,205
Accountspayable
payable
Accrued
expenses
92,351 101,669
Accrued expenses
Deposits31,064
Deposits39,062
Deferred
72,777 104,681
Deferredrevenue
revenue
Capital
lease
3,087
Capital lease
3,451
Government
advances
for
student
loans
2
Government advances for student loans 6,252 28,185
Postretirement
Postretirementbenefits
and pension benefits 35,944 55,745
Bonds
and
notes
480,524 454,591
Bonds and notespayable
payable
Total
Total liabilities
liabilities
786,625835,589
NET ASSETS
Unrestricted575,745
NET
ASSETS
Temporarily restricted
261,203
Unrestricted394,557
Permanently
restricted
Temporarily
restricted
233,249 310,442
Permanently
restricted
224,356
Total net
assets
1,147,390
Total liabilities
and
Totalnet
netassets
assets
852,162
$1,982,979
Total liabilities and net assets$1,638,787