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 |