2014 | president’s annual report | 23
strongest growth reported since FY07, prior
FY14 Operating Revenues (in thousands)
to the recession. Net operating revenue for FY14 was $16 million, continuing a positive trend that has endured in the past five years
Academic and Research Revenue. $1,580,761 Net Patient Revenue. $2,549,902 Total: $4,130,663
despite all the challenges in the economic and
38%
health care environments. Emory’s operating revenues remained
62%
strong during FY14 as almost all major lines reflected an increase over FY13. Net tuition revenue increased 6 percent to $376.9 million in FY14. Strong enrollments coupled with
FY14 Academic and Research Revenue (in thousands)
planned rate increases were the primary drivers of this favorable change. The university’s endowment spending distribution for operations, excluding capital amounts, increased by approximately 1 percent to $187.2 million in FY14. The universi-
Grants & Contracts. $365,653 Auxiliaries. $68,850 Independent Operations. $20,543 Other Revenue. $363,012 Tuition & Fees. $376,951 Endowment & Trust Income. $187,153 Other Investment Income. $37,477 Contributions. $50,606 Indirect Cost Revenue. $110,516 Total: $1,580,761
5%
23%
1%
23% 24%
ty targets a 4.75 percent annual distribution 7%
from the endowment while exercising pru-
3% 2%
12%
dence to protect donors’ multigenerational support intentions. During the past five years, Emory’s total sponsored revenue—including indirect cost recoveries as well as government and other
Sponsored Awards Revenue by Source ($ in millions) 600 500
grants and contracts—has grown from $457.9
400
million (FY10) to $476.2 million (FY14), rep-
300
resenting a 4 percent increase during the past
200
five years. However, as a result of reduced
100
government spending, indirect cost recover-
University State Private Foreign Corporate Federal
0
ies in FY14 of $110.5 million decreased from
FY10
FY11
FY12
FY13
$118.5 million in FY13. During FY14 Emory received awards totaling $521.8 million (2,813 awards). The medical school continues to drive research activity with 64 percent of total research awards during FY14. Yerkes National Primate Research Center and the
FY14