Pepperdine 2014 Annual Report

Financial Statements

Financials

PEPPERDINE UNIVERSITY

Consolidated Statements of Financial Position

At July 31, 2014 and 2013 (in thousands)

 

2014 2013
ASSETS
Cash and cash equivalents $       34,650 $       68,941
Student receivables, less allowance for doubtful accounts of $1,007 and $1,343, respectively 1,848 1,295
Other accounts receivable 4,002 4,062
Prepaid expenses, inventories and other assets 6,149 5,512
Student loans, less allowance for loan losses of $1,564 and $1,599, respectively 22,038 22,749
Beneficial interests and contributions receivable, net 33,877 30,597
Investments 963,133 830,726
Assets held as trustee or agent 128,374 123,843
Property, facilities and equipment, net 361,613 362,409
      Total assets $ 1,555,684 $ 1,450,134

LIABILITIES AND NET ASSETS
Liabilities:
   Accounts payable and accrued liabilities $      18,586 $      28,855
   Accrued salaries and wages 4,369 3,579
   Student deposits, advance payments, and deferred revenue 11,092 9,977
   Asset retirement obligations 6,199 5,912
   U.S. government-funded student loans 15,695 15,340
   Trust and agency obligations 69,136 70,754
   Long-term obligations 236,547 238,750
      Total liabilities 361,624 373,167
Net assets:
   Unrestricted 703,267 630,777
   Temporarily restricted 137,943 118,605
   Permanently restricted 352,850 327,585
      Total net assets 1,194,060 1,076,967
      Total liabilities and net assets $ 1,555,684 $ 1,450,134

 

Net assets bar graph

Total assets bar graph

Endowment assets bar graph

 


 

PEPPERDINE UNIVERSITY

Consolidated Statements of Activities

For the year ended July 31, 2014 (in thousands)

 

 
Unrestricted
Temporarily
Restricted
Permanently
Restricted

Total
REVENUES
Student tuition and fees $    298,111 $              – $              – $    298,111
   Less student aid (96,604) (96,604)
      Net student tuition and fees 201,507 201,507
Room and board 34,425 34,425
Private gifts and grants 11,476 5,517 13,168 30,161
Endowment support 33,377 274 33,651
Government grants 3,679 3,679
Sales and services 6,430 6,430
Other revenue 6,118 50 1,136 7,304
Net assets released from restriction 5,058 (5,058)
      Total revenues 302,070 509 14,578 317,157

EXPENSES
Instruction and research 90,382 90,382
Academic support 49,647 49,647
Student services 49,145 49,145
Public service 14,202 14,202
Auxiliary enterprises 26,847 26,847
Management and plant operations 52,521 52,521
Alumni relations and development 2,304 2,304
Fundraising 7,445 7,445
      Total expenses 292,493 292,493
      Change in net assets before nonoperating revenues and expenses 9,577 509 14,578 24,664

NONOPERATING REVENUES AND EXPENSES
Actuarial adjustment 4,874 737 5,611
Investment income:
   Dividends 8,831 3,345 1 12,177
   Interest 854 11 191 1,056
   Other 6,142 3 6,145
Investment expenses (3,500) (1,319) (4,819)
Net realized and unrealized investment losses 47,783 14,534 9,380 71,697
Foreign currency translation 15 15
Other 2,788 (2,616) 375 547
      Total nonoperating revenues and expenses 62,913 18,829 10,687 92,429
Change in net assets 72,490 19,338 25,265 117,093
      Net assets at beginning of year $    630,777 $    118,605 $    327,585 $ 1,076,967
      Net assets at end of year $    703,267 $    137,943 $    352,850 $ 1,194,060

 

Revenues Pie Graph

Expenses Pie Graph