FINANCIAL HIGHLIGHTS
STRONGER THAN EVER AS WE COME TO THE END OF ANOTHER FISCAL YEAR,
NOLS Balance Sheet
EXPENSES
Aug. 31, 2013 and 2012
81% Program 16% Administration 3
%
Fundraising
ASSETS Cash Investments Endowment investments Receivables Pledges receivable
$18,625,000
$18,665,000
2,355,000
972,000
24,058,000
18,677,000
755,000
819,000
1,254,000
2,503,000
Prepaid expenses
354,000
417,000
857,000
777,000
1,132,000
1,117,000
29,710,000
27,193,000
$79,100,000
$71,140,000
$4,950,000
$4,587,000
Property, plant, and equipment net TOTAL ASSETS
73% Tuition and Fees
2012
Merchandise Other
TOTAL REVENUE
2013
LIABILITES AND NET ASSETS Accounts payable
15% Fundraising
Student deposits
6,724,000
7,260,000
7
Total liabilites
$11,674,000
$11,847,000
Net assets
$67,426,000
$59,293,000
$79,100,000
$71,140,000
%
Investment Earnings
5% Other Program Revenue
TOTAL LIABILITIES AND NET ASSETS
WE WILL CONTINUE TO INVEST AND USE OUR FINANCIAL RESERVES TO SUPPORT OUR STUDENTS AND MISSION WHILE PROTECTING THE INTEGRITY OF OUR FINANCIAL RESOURCES.
it is with great pride that we once again announce the financial position of NOLS has never been stronger. Through the hard work of staff and the guidance of supporters, we have been able to operate in a very fiscally responsible manner at all levels. We know the greatest strength of NOLS is our mission and that a strong financial foundation is essential to carry that mission into the future. Through a growing endowment, identified reserves, and lack of long-term debt, we are building that foundation. One area where we have seen significant growth is endowment investments. The majority of this growth has come from new gifts to the endowment, but we are also very proud of our 14-percent investment return this past fiscal year. The endowment is an increasing piece of our financial foundation, providing support for scholarships and mission. Also of note is the increase in our property, plant, and equipment. This is due in large part to the completion of the Wyss Wilderness Medicine Campus, as well as the majority of the construction of a new facility in New Zealand. The financial resources that have been generated over the years from operations and support from donors are an important responsibility and opportunity. A key part of our strategic plan has been to create and fund cash reserves, not only to sustain us in difficult circumstances but also to allow us to pursue opportunities. The ability to create, maintain, and add to these reserve accounts is a measure of our financial success and cause for confidence in looking to the future. We will continue to invest and use our financial reserves to support our students and mission.
2013 STATE OF THE SCHOOL REPORT
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