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PEPPERDINE UNIVERSITY
Consolidated Statements of Financial Position
At July 31, 2010 and 2009
(In thousands)

2010 2009
ASSETS
Cash and cash equivalents $      54,479 $      44,650
Student receivables, less allowance for doubtful accounts of $1,418 and $1,518, respectively 2,997 3,617
Other accounts receivable 7,660 5,791
Student loans, less allowance for loan losses of $1,632 and $1,697, respectively 25,960 27,244
Contributions receivable, net 37,644 25,853
Prepaid expenses, inventories and other assets 5,905 5,717
Investments 691,075 658,995
Assets held as trustee or agent 111,185 104,987
Property, facilities and equipment, net 345,898 334,502
      Total assets $ 1,282,803 $ 1,211,356

LIABILITIES AND NET ASSETS
Liabilities:
   Accounts payable and accrued liabilities $      28,934 $    36,703
   Accrued salaries and wages 3,099 3,067
   Student deposits, advance payments and deferred revenue 9,916 9,859
   U.S. government-funded student loans 14,393 14,126
   Trust and agency obligations 70,771 67,794
   Long-term obligations 227,172 226,734
      Total liabilities 354,285 358,283
Net assets:
   Unrestricted 521,281 485,358
   Temporarily restricted 119,064 104,701
   Permanently restricted 288,173 263,014
      Total net assets 928,518 853,073
      Total liabilities and net assets $ 1,282,803 $ 1,211,356

 


 

PEPPERDINE UNIVERSITY
Consolidated Statements of Activities
For the year ended July 31, 2010
(In thousands)

REVENUES
Unrestricted
Temporarily
Restricted
Permanently
Restricted

Total
Student tuition and fees $ 256,638 - - $ 256,638
   Less student aid (79,187) - - (79,187)
      Net student tuition and fees 177,451 - - 177,451
Room and board 31,483 - - 31,483
Private gifts and grants 11,832 12,772 12,918 37,522
Endowment support 31,257 198 450 31,905
Government grants 3,310 - - 3,310
Sales and services 6,286 - - 6,286
Other revenue 4,657 173 651 5,481
Net assets released from restriction 1,408 (1,408) - -
      Total revenues 267,684 11,735 14,019 293,438

EXPENSES
Instruction and research 78,980 - - 78,980
Academic support 44,688 - - 44,688
Student services 45,203 - - 45,203
Public service 14,430 - - 14,430
Auxiliary enterprises 18,037 - - 18,037
Management and general 44,008 - - 44,008
Membership development 1,836 - - 1,836
Fundraising 7,550 - - 7,550
      Total expenses 254,732 - - 254,732
      Change in net assets before nonoperating revenues and expenses 12,952 11,735 14,019 38,706

NONOPERATING REVENUES AND EXPENSES
Adjustment of actuarial liability - (1,186) (1,423) (2,609)
Investment income:
   Dividends 5,533 1,439 33 7,005
   Interest 1,359 16 80 1,455
   Other 6,400 25 - 6,425
Net realized and unrealized investment gains 13,844 2,180 11,562 27,586
Other (4,165) 154 888 (3,123)
      Total nonoperating revenues and expenses 22,971 2,628 11,140 36,739
Change in net assets 35,923 14,363 25,159 75,445
      Net assets at beginning of year 485,358 104,701 263,014 853,073
      Net assets at end of year $ 521,281 $ 119,064 $ 288,173 $ 928,518