PRESIDENT’S REPORT 2009-2011
STATEMENT OF ACTIVITIES (for fiscal year ending June 30, 2010)
Temporarily Restricted
Audit performed by BDO USA, LLP
FOR THE YEAR ENDING JUNE 30 2010
Unrestricted
Permanently Restricted
Total
Revenues, gains, and other support:
$ 28,451,379
$28,451,379
Tuition and fees
$ (4,918,219)
$ (4,918,219)
$ 23,533,160
$23,533,160
Less: student assistance Net tuition and fees
Federal and State grants and contracts
8,216,148
Private gifts, grants, and contracts
2,361,445
Income from investments
Other income Sales and services of auxiliary enterprises Total additional income Net assets released from restrictions Total revenues, gains, and other support
383,399
1,015
2,745,859
415,198
415,198
1,099,356
1,099,356
410,702
410,702
7,470,789
7,470,789
19,973,638
383,399
197,675
1,015
20,358,052
1,015
43,891,212
(197,675)
43,704,473
185,724
Expenditures and losses: Operating: Instruction
13,657,703
13,657,703
Public Service
2,834,861
2,834,861
Student services
7,880,261
7,880,261
Academic support
1,870,739
1,870,739
Institutional support
11,025,577
11,025,577
Auxiliary enterprises
4,182,600
4,182,600
41,451,741
41,451,741
Total operating expenditures Change in net assets from operations
2,252,732
185,724
1,015
2,439,471
Non operating losses Other Total change in net assets
(7,195)
(7,195)
2,245,537
185,724
Net assets at beginning of year
16,943,070
3,278,564
Net assets as of end of year
19,188,607
$
3,464,288
$
1,015
2,432,276
9,317,659
29,539,293
9,318,674
$31,971,569
45 www.shawu.edu
FINANCIAL SUMMARY
Net realized and unrealized gains on investments
8,216,148