Co n s o l i d a t e d S t a t eme n t s o f A c t i v i t i e s J u n e 3 0 , 2 0 2 3 a n d 2 0 2 2 (with summarized financial information for the year ended June 30, 2022) ($ in thousands) Without Donor Restrictions With Donor Restrictions 2023 Total 2022 Total REVENUES AND RELEASES Net tuition and fees $ 619,170 $ - $ 619,170 $ 584,260 Contributions and private grants 1,700 29,562 31,262 18,522 Government grants and contracts - 36,500 36,500 55,902 Auxiliary operations 56,997 - 56,997 50,247 Interest and dividends 16,657 1,907 18,564 15,485 Net unrealized gain (loss) on investments 17,459 6,898 24,357 (78,487) Net realized (loss) gain on sale of investments (2,824) 1,651 (1,173) 5,105 Other revenues 31,265 6,124 37,389 23,072 Net assets released from restrictions 61,164 (61,164) - - Total revenues and releases 801,588 21,478 823,066 674,106 EXPENSES Salaries and wages 338,077 - 338,077 303,963 Employee benefits 79,678 - 79,678 74,291 Supplies and services 130,449 - 130,449 111,913 Space and occupancy 74,490 - 74,490 66,810 Depreciation and amortization 46,237 - 46,237 48,231 Interest 23,874 - 23,874 19,475 Other 57,020 - 57,020 61,357 Total expenses 749,825 - 749,825 686,040 CHANGE IN NET ASSETS 51,763 21,478 73,241 (11,934) Net assets, beginning of year 854,452 187,700 1 ,042, 152 1,054,086 NET ASSETS, END OF YEAR $ 906,215 $ 209,178 $ 1 , 1 15 , 393 $ 1 ,042, 152 See accompanying notes to consolidated financial statements. 14
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