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SOUTHERN NAZARENE UNIVERSITY

ANNUAL FINANCIAL & ENROLLMENT REPORT 2010-11


For 112 years, Southern Nazarene University has been a place of creativity, vision and purpose. The faith of generous donors, professors and students has carried us through our extraordinary history. It is that same faith that fills me with hope for the future of this Christ-centered university. The following charts and statistics affirm SNU’s remarkable progress. Despite challenging economic times, I think you will see clear evidence of the work of our dedicated faculty, staff and a gifted student body. I hope you will also recognize opportunities for further growth and development and pray with us as we strive to meet those challenges. While statistics provide a clear picture of the bottom line, they can easily miss what occurs outside the lines. Because of the exceptional quality of the “SNU Experience� we are attracting outstanding young men and women from all walks of life and from all over the world. With a student body totaling over 2,000 students, these individuals recognize the benefits of receiving an exceptional education within a Christ-centered community. Thank you for your encouragement and support as we prepare graduates who 'think with clarity, act with integrity and serve with purpose.' Thank you for being part of our mission of 'transforming lives through higher education in Christ-centered community.' His and yours,

Loren P. Gresham, PhD. 1


OVERVIEW The University’s overall financial position has improved over that of the previous year. Net assets increased by 11% to $62.8 million. The University ended the year with an excess of revenue over expenses by $6.3 million. Strong investment gains and the addition of the A.M. Hills Residential Complex were key to the improvement of the overall financial position.

NET ASSETS NET ASSETS (IN MILLIONS) AS OF JUNE 30, 2006 THROUGH 2011 $66 $64

$63.5

$62

$62.8

$61.5

$60 $58

$56.6

$56 $54

$56.6

$54.6

$52 $50 2006

2007

2008

2009

2010

The balance sheet of Southern Nazarene University as of June 30, 2011, is stronger when compared to the end of the previous year, with total assets increasing $1.7 million to $97.7 million. The change in total assets is primarily due to increase in investments, which experienced an annual return of approximately 21%, and the completion of the new A.M. Hills Residential Complex. Total Liabilities decreased 11% primarily due to a decrease in accounts payable and annual bond debt service payments. Overall, the University’s net assets increased to $62.8 million. Seethe chart for history of Net Assets as of June 30, 2006 through 2011.

2011

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ENROLLMENT OVERVIEW Enrollment for 2010-11 totalled 2051 students, 1617 being undergraduate students (both traditional and non-traditional) and 434 being enrolled in graduate programs. Combined, they represent 36 states and 33 countries. New traditional students represented 37 religious denominations. 50 percent identifed as Nazarene. Among all students, 28 percent represent an ethnic minority, with an equal percentage among new freshman and a slightly lower 25 percent of all traditional students. TOTAL ENROLLMENT: 2051 2010 NEW FRESHMEN

Graduate Students 21% (434) Males 56%

Females 44%

CAMPUS HOUSING 2007 2008 2009 2010

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770 736 778 799

Undergraduate Students 79% (1617)

TOP MAJORS Kinesiology Business Nursing Theology/Ministry Music Biology Education

143 126 121 111 97 90 75*

*Totals 161 if you include all majors in Teacher Education


REVENUES & EXPENSES The University’s revenues totalled $45.8 million and exceeded expenses by $6.3 million. The largest category of revenues is Tuition and Fees of $33.2 million less Scholarships of $8.5 million for a Net Tuition and Fees of $24.7 million which represents 54% of our total revenues. The second largest revenue category is Auxiliary / Sales and Service / Other revenues of $10.7 million, or 23% of total revenues, and it includes housing, bookstore, food service and School for Children revenues. The third largest category of revenues is our investment income, which represented $5.5 million, or 12% of total revenues. Gifts and Grants totaled $4.9 million or 11% of total revenues. Included in this category is the Education Budgets paid by churches in the South Central Region, which totaled $1.8 million.

REVENUES BY SOURCE

Investments 12%

Auxiliary, Sales & Services, Other 54%

Net Tuition & Fees 54%

Gifts & Grants 11%

EXPENSES BY PROGRAM

Auxiliary 22%

Institutional Support 12%

Instruction & Academic Support 48%

The University’s expenses totaled $39.5 million and were 4.7% higher than the previous year. Our largest category of expenses is Instruction and Academic Support, which represents 48% of our total expenses. Auxiliary expenses represent 22% and are the second largest category. Student Services and Institutional Support expenses represent 18% and 12%.

Student Services 18%

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6729 NW 39TH EXPRESSWAY, BETHANY, OK 73008

WWW.SNU.EDU

405.789.6400

Annual Financial and Enrollment Report 2010-11  

Southern Nazarene University's Annual Financial and Enrollment Report.

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