2015 Annual Report
New England College of Optometry Annual Report 2015
New England College of Optometry Annual Report 2015
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NEW ENGLAND COLLEGE OF OPTOMETRY AND NEE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION<br />
June 30, <strong>2015</strong> and 2014<br />
<strong>2015</strong><br />
2014<br />
Assets<br />
Cash and cash equivalents<br />
$<br />
7,805,753<br />
$<br />
3,913,906<br />
Accounts receivable, net<br />
765,048<br />
941,679<br />
Prepayments and other assets<br />
763,921<br />
608,013<br />
Contributions receivable, net<br />
260,393<br />
290,439<br />
Student loans, net<br />
8,780,110<br />
8,152,476<br />
Investments<br />
15,297,745<br />
14,843,249<br />
Property, plant, and equipment, net<br />
10,841,836<br />
11,403,587<br />
Total assets<br />
$<br />
44,514,806<br />
$<br />
40,153,349<br />
Liabilities and Net Assets<br />
Liabilities:<br />
Accounts payable and accrued expenses<br />
$<br />
1,900,291<br />
$<br />
1,366,001<br />
Annuity obligations<br />
84,175<br />
106,645<br />
Deferred revenue<br />
2,960,568<br />
2,202,838<br />
Bonds payable<br />
7,280,000<br />
7,695,000<br />
Refundable U.S. government grants<br />
7,564,558<br />
7,381,703<br />
Total liabilities<br />
19,789,592<br />
18,752,187<br />
Net assets:<br />
Unrestricted<br />
$<br />
16,740,600<br />
$<br />
13,349,337<br />
Temporarily restricted<br />
5,736,727<br />
5,817,361<br />
Permanently restricted<br />
2,247,887<br />
2,234,464<br />
Total net assets<br />
24,725,214<br />
21,401,162<br />
Total liabilities and net assets<br />
$<br />
44,514,806<br />
$<br />
40,153,349<br />
NECO Operating Revenues<br />
NECO Operating Expenses<br />
Patient Care<br />
Contributions<br />
Auxiliary Enterprises<br />
Grants & Contracts<br />
Interest Income<br />
Other Sources<br />
Institutional<br />
Support<br />
Student<br />
Services<br />
Clinical Instruction<br />
& Patient Care<br />
ANNUAL REPORT <strong>2015</strong><br />
Tuition & Fees<br />
Academic<br />
Support<br />
Research<br />
Instruction<br />
22
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