Ma n a g eme n t ’ s D i s c u s s i o n a n d A n a l y s i s J u n e 3 0 , 2 0 2 3 a n d 2 0 2 2 - 100 200 300 400 500 600 700 800 900 1,000 $ 1 , 100 $ $ 1,200 $ $ $ $ $ $ $ $ $ $ FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 NET ASSETS Total Dollar Amount in Millions Without Donor Restrictions With Donor Restrictions Overview For the fiscal year ended June 30, 2023 (fiscal 2023), Nova Southeastern University (NSU, or the university) experienced growth in its fiscal strength based on continued strong operations and improved financial market conditions, resulting in total net assets increasing 7.0 percent from the prior year. As demonstrated in the following chart, total net assets have grown by 83.0 percent over the past decade, from $609.4 million as of June 30, 2013, to $1.1 billion as of June 30, 2023. Factors contributing to the sustained growth include the university’s diverse academic program offerings and student base, coupled with strong philanthropic support, as well as its ability to respond and adapt to the challenges and changes inherent in higher education. Operational Highlights NSU continued to advance strategic priorities in striving toward preeminence with Vision 2025. The strategic business plan contains goals centered around students; philanthropic resources; scholarship and research; community service; and belonging, equity, diversity, and inclusion. NSU’s strategic emphasis drove operating results and noteworthy milestones during fiscal 2023, including n Sustained strong overall university enrollment (20,948 fall 2022), with a record-high undergraduate population and professional-level growth associated with continued expansion in academically highdemand and industry-relevant programs n Significant academic accomplishments, including two momentous accreditations n Strong philanthropic support and research advances ExpandingUndergraduate andHealth Professions Programs In fall 2022, NSU welcomed its largest undergraduate class with 1,978 first-time-in-college freshmen, an increase of 17 percent from its prior record of 1,689 in fall 2020. In line with NSU’s strategic expansion of undergraduates, overall undergraduate enrollment has increased for the sixth year in a row, standing at 6,971 in fall 2022. The distinctive Dual Admission Program, offering prospective undergraduate students a reserved spot in selective graduate/professional programs, has continued 1
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