annual report - Ben - Benedictine University

Statements of Activities
Years ended May 31
Temporarily Permanently
Unrestricted Restricted Restricted Total 2004
Revenue and other support:
Tuition and fees $ 41,541,278 $ – $ – $ 41,541,278 $ 37,340,479
Less scholarships and grants (12,127,530) (98,722) – (12,226,252) (12,183,675)
Net tuition and fees 29,413,748 (98,722) – 29,315,026 25,156,804
Private gifts and grants 1,602,005 338,713 134,878 2,075,596 2,909,698
Government grants and contracts 4,875,415 – – 4,875,415 5,592,545
Investment income (loss) 453,689 1,058,696 433,010 1,945,395 2,325,375
Other income 554,969 – – 554,969 656,333
Auxiliary enterprises 2,268,505 – – 2,268,505 3,116,719
Net assets released from 568,369 (346,000) (222,369) – –
restrictions
Total revenue and 39,736,700 952,687 345,519 41,034,906 39,757,474
and other support
Expenses:
Compensation:
Salaries 16,470,425 – – 16,470,425 15,722,277
Benefits 4,121,561 – – 4,121,561 3,871,652
Total compensation 20,591,986 – – 20,591,986 19,593,929
Utilities 1,425,716 – – 1,425,716 1,367,884
Depreciation 2,683,936 – – 2,683,936 2,651,400
Interest 834,389 – – 834,389 572,010
Bad debts 200,000 – – 200,000 150,000
Supplies and services 14,435,742 – – 14,435,742 13,579,123
Total expenses 40,171,769 – – 40,171,769 37,914,346
Increase (decrease) (435,069) 952,687 345,519 863,137 1,843,128
in net assets
Net assets, beginning of year 24,868,152 9,890,972 8,335,013 43,094,137 41,251,009
Net assets, end of year $ 24,433,083 $ 10,843,659 $ 8,680,532 $ 43,957,274 $ 43,094,137
2005
Annual Report 2004-2005 3