Summary Statement of Changes in Net Assets
Years Ended May 31, 2021 - 2025
(in thousands of dollars)
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| OPERATING REVENUES | |||||
| Tuition & fees | $897,877 | $968,259 | $981,077 | $1,026,823 | $1,069,610 |
| Less scholarships | (365,224) | (396,552) | (393,233) | (411,208) | (426,802) |
| Net tuition & fees | 532,653 | 571,707 | 587,844 | 615,615 | 642,808 |
| Endowment distributions & investment income | 70,766 | 72,131 | 98,510 | 111,063 | 117,990 |
| Gifts, grants & other sources | 269,346 | 222,771 | 223,557 | 210,360 | 229,489 |
| Sales & services of auxiliary enterprises | 47,776 | 58,522 | 54,942 | 59,145 | 83,275 |
| 920,541 | 925,131 | 964,853 | 996,183 | 1,073,562 | |
| OPERATING EXPENSES | |||||
| Instruction & academic support | 409,935 | 420,067 | 411,155 | 433,100 | 452,951 |
| Research & public service | 150,970 | 72,821 | 118,437 | 139,317 | 142,444 |
| Student services & activities | 169,276 | 198,765 | 201,042 | 224,440 | 247,676 |
| Auxiliary enterprises | 44,855 | 45,856 | 49,119 | 47,301 | 75,463 |
| Institutional support | 87,855 | 94,972 | 106,594 | 146,294 | 148,931 |
| 862,891 | 832,481 | 886,347 | 990,452 | 1,067,465 | |
| Increase in net assets from operating activities | 57,650 | 92,650 | 78,506 | 5,731 | 6,097 |
| NON-OPERATING ACTIVITIES | |||||
| Return on long-term investments | 472,497 | 183,664 | 3,987 | 213,738 | 112,424 |
| Distributions from long-term investments | (71,362) | (72,595) | (82,001) | (90,771) | (98,369) |
| Endowment earnings & distributions re-invested | 3,117 | 2,822 | 2,863 | 3,244 | 2,899 |
| Change in value of split interest agreements | 7,347 | (2,959) | (577) | 2,942 | 2,004 |
| Gifts for endowment, annuity & living trusts | 37,650 | 45,344 | 49,133 | 31,750 | 40,974 |
| Gifts & grants for plant improvements, | |||||
| net of allowance adjustments | 19,228 | 23,416 | 35,053 | 7,522 | 3,964 |
| Other components of postretirement benefits cost | (525) | (303) | 136 | (1,084) | (1,474) |
| Change in postretirement benefits obligation | |||||
| other than net periodic benefits cost | 956 | 9,583 | 846 | (720) | 335 |
| Other changes | (2,423) | (4) | 1 | - | - |
| Total non-operating activities | 466,485 | 188,968 | 9,441 | 166,621 | 62,757 |
| Change in net assets | $524,135 | $281,618 | $87,947 | $172,352 | $68,854 |