SUPPORT AND REVENUE Sustaining fees Accreditation visits User fees Workshop registration fees Investment income Other revenue
$
Total support and revenue
Statement of Activities and Changes in Net Assets Year Ended June 30, 2013
15,538,459
EXPENSES Program services Accreditation expense Education Supporting services Management and general
8,291,259 3,300,481 3,547,060
Total expenses
15,138,800
Change in net assets
399,659
NET ASSETS at beginning of year
NET ASSETS at end of year
5,515,484 4,603,981 3,481,735 607,703 1,179,844 149,712
ACCREDITING COUNCIL FOR INDEPENDENT COLLEGES AND SCHOOLS
15,081,394
$
15,481,053
The accompanying notes are an integral part of this financial statement. 19