2013 Annual Report
New England College of Optometry Annual Report 2013
New England College of Optometry Annual Report 2013
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NEW ENGLAND COLLEGE OF OPTOMETRY CONSOLIDATED STATEMENTS OF ACTIVITIES<br />
Years Ended June 30<br />
Operating revenues<br />
Tuition and fees<br />
Less scholarships and grants<br />
Tuition and fees, net<br />
Contributions<br />
Patient care<br />
Grants and contracts<br />
Interest income<br />
Other sources, including auxiliary enterprises<br />
Total operating revenues<br />
Net assets released from restrictions<br />
Total operating revenues and net assets<br />
released from restrictions<br />
<strong>2013</strong><br />
$ 18,347,847<br />
(361,478)<br />
17,986,369<br />
445,448<br />
3,932,764<br />
2,233,405<br />
33,338<br />
223,775<br />
24,855,099<br />
—<br />
24,855,099<br />
2012<br />
$ 16,837,281<br />
(325,354)<br />
16,511,927<br />
372,674<br />
3,684,714<br />
2,241,297<br />
36,057<br />
314,963<br />
23,161,632<br />
—<br />
23,161,632<br />
Operating expenses<br />
Clinical instruction and patient care<br />
Instruction<br />
Research<br />
Academic support<br />
Student services<br />
Institutional support<br />
Auxiliary enterprises<br />
Total operating expenses<br />
Change in net assets from operating activities<br />
Non-operating activities<br />
Investment return<br />
Change in value of annuity obligations<br />
Change in value of life income funds<br />
Change in fair value of interest rate swap<br />
Reclassification of net assets<br />
Change in net assets<br />
Net assets as of beginning of year<br />
Net assets as of end of year<br />
8,027,234<br />
5,353,463<br />
1,735,410<br />
1,540,364<br />
1,475,504<br />
5,370,970<br />
242,033<br />
23,744,978<br />
1,110,121<br />
1,218,100<br />
(11,467)<br />
14,738<br />
295,580<br />
—<br />
2,627,072<br />
15,463,429<br />
$ 18,090,501<br />
7,463,857<br />
5,220,550<br />
1,821,613<br />
1,342,023<br />
1,410,805<br />
6,043,756<br />
202,331<br />
23,504,935<br />
(343,303)<br />
(252,437)<br />
(17,828)<br />
8,974<br />
(448,847)<br />
—<br />
(1,053,441)<br />
16,516,870<br />
$ 15,463,429<br />
New England College of Optometry 23
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