Summary Statement of Changes in Net Assets

Years Ended May 31, 2017 - 2021
(in thousands)
For the Year Ended May 31,
2017 2018 2019 2020 2021
OPERATING REVENUES
Tuition & fees $  688,693 $  720,218 $  757,947 $  806,333 $  897,877
Less scholarships
(284,044)
(310,316)
(325,274)
(340,249)
(365,224)
Net tuition & fees
404,649 409,902 432,673 466,084 532,653
Endowment distributions & investment income 66,330 68,896 72,783 74,095 70,766
Gifts, grants & other sources 147,890 141,837 150,088 205,080 269,346
Sales & services of auxiliary enterprises
53,584
54,041
54,761
46,471
47,776
672,453
674,676
710,305
791,730
920,541
OPERATING EXPENSES
Instruction & academic support 266,173 288,422 310,552 404,564 409,935
Research & public service 93,709 101,322 102,402 80,840 150,970
Student services & activities 160,230 163,006 169,556 172,186 169,276
Auxiliary enterprises 40,194 41,176 41,145 37,343 44,855
Institutional support
99,858
70,831
86,436
80,848
87,855
660,164
664,757
710,091
775,781
862,891
Increase in net assets from operating activities
12,289
9,919
214
15,949
57,650
NON-OPERATING ACTIVITIES
Return on long-term investments 115,863 124,062 47,243 87,912 472,497
Distributions from long-term investments (67,339) (68,682) (71,124) (73,183) (71,362)
Endowment earnings & distributions re-invested 2,142 2,006 2,752 3,020 3,117
Change in value of split interest agreements 2,692 2,057 (199) 1,271 7,347
Gifts for endowment, annuity & living trusts 19,524 17,547 26,836 31,147 37,650
Gifts & grants for plant improvements, net of allowance adjustments 11,551 7,514 20,791 82,589 19,228
Other components of postretirement benefits cost (641) (704) (613) (745) (525)
Change in postretirement benefits obligation other than net periodic benefit cost (1,796) (77) (4,196) (3,175) 956
Other increases (decreases)
1,985
2,529
(1,884)
(2,343)
(2,423)
Total non-operating activities
83,981
86,252
19,606
126,493
466,485
Change in net assets
$  96,270
$  96,171
$  19,820
$  142,442
$  524,135