Consolidated Statements of Financial Position June 30, 2024 and 2023 ($ in thousands) ASSETS 2024 2023 Current Assets: Cash and cash equivalents $ 21,719 $ 17,587 Restricted cash 7,904 10,155 Investments 389,116 379,683 Tuition and other receivables, net 47,928 44,934 Pledges receivable, current portion, net 18,669 22,079 Prepaid expenses and other current assets 22,578 14,045 Total current assets 507,914 488,483 Pledges receivable, net 25,209 23,253 Contributions receivable from remainder trusts 224 225 Scholarship funds held in trust by others 2,943 3,593 Designated investments 66,451 57,693 Restricted investments 138,332 107,695 Other investments 322,563 293,546 Restricted cash and cash equivalents 21,290 27,652 Land, buildings, and equipment, net 897,721 889,752 Operating lease right-of-use assets 85,062 74,905 Other assets 23,132 24,051 Total assets $ 2,090,841 $ 1,990,848 LIABILITIES AND NET ASSETS Current liabilities: Accounts payable and accrued liabilities $ 54,064 $ 50,165 Deferred revenue 80,577 77,335 Current portion of long-term debt 15,915 13,940 Operating lease liabilities, current 21,124 19.898 Other current liabilities 28,670 29,150 Total current liabilities 200,350 190,488 Long-term debt 562,041 580,036 Due to beneficiaries under remainder trusts and annuities 96 99 Accrued insurance cost 15,384 14,460 Deferred revenue 14,785 10,904 Operating lease liabilities 65,961 57,164 Other liabilities 19,146 22,304 Total liabilities 877,763 875,455 Net assets: Without donor restrictions $ 980,099 $ 906,215 With donor restrictions 232,979 209,178 Total net assets 1,213,078 1,115,393 Total liabilities and net assets $ 2,090,841 $ 1,990,848 See accompanying notes to consolidated financial statements. 13
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