Management’s Discussion and Analysis June 30, 2024 and 2023 NET ASSETS $ 1,100 $ 1,000 $ 1,200 $ 1,300 $ 900 $ 800 $ 700 $ 600 $ 500 $ 400 $ 300 $ 200 $ 100 - $ FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 (in millions) Without Donor Restrictions With Donor Restrictions Overview For the fiscal year ended June 30, 2024 (fiscal 2024), 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 8.8 percent from the prior year. As demonstrated in the following chart, total net assets have grown by 86.4 percent over the past decade, from $650.9 million as of June 30, 2014, to $1.2 billion as of June 30, 2024. 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. As part of the university’s Campaign to Preeminence, NSU recognized a transformational gift commitment in fiscal 2024 supporting NSU Health’s efforts in advancing the treatment of neurological disorders, including amyotrophic lateral sclerosis (ALS). In recognition of the gift, NSU Health’s Neuroscience Institute has been named the David and Cathy Husman Neuroscience Institute at NSU Health, with its center which provides specialty care for patients diagnosed with ALS named the NSU Health Cathy J. Husman ALS Center. A new clinical space for the center is under construction within NSU’s Center for Collaborative Research. The gift also provided for the creation of the David and Cathy Husman Endowed Chair for Neuroscience. NSU Health’s state-of-the art dental clinic at the Tampa Bay Regional Campus completed its first year of operations, treating patients in more than 6,000 individual visits during fiscal 2024. The clinic supports the College of Dental Medicine’s expansion of its D.M.D. program to Tampa Bay, with its third cohort admitted in May 2024, for a total of 107 international dental students enrolled in Tampa Bay as of June 30, 2024. Fiscal 2024 also included noteworthy facilities projects, enhancing student experiences through technology and innovation. Examples include the spring 2024 opening of the Jerry Taylor and Nancy Bryant Trading Floor, an advanced educational space supporting hands-on experience in conducting research and managing a range of investments for H. Wayne Huizenga College of Business and Entrepreneurship students. The NSU University School’s innovation lab was substantially completed (opening fall 2024), featuring a cutting-edge hub dedicated to robotics, exploration, experimentation, and fabrication for NSU’s 2,000+ preschool through grade 12 students. The lab complements NSU’s Alan B. Levan | NSU Broward Center of Innovation (the Levan Center of Innovation), which opened in fiscal 2022 and is one of the largest of its kind in the nation, featuring emerging technology supporting innovation and entrepreneurship. 1
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