REVENUES
| |
For the year ended June 30, 2014 |
For the year ended June 30, 2013 |
| Operating revenues |
$897,133 |
$841,153 |
EXPENSES
| Operating Expenses |
For the year ended June 30, 2014 |
For the year ended June 30, 2013 |
| Instruction |
$75,666 |
$137,023 |
| Public service |
$78,095 |
$15,023 |
| Academic support |
$424,455 |
$314,674 |
| Student Services |
$59,105 |
$79,918 |
| Institutional support |
$2,518,477 |
$1,263,364 |
| Student grants and scholarships |
$2,482,457 |
$2,375,805 |
| Total |
$5,638,255 |
$4,185,807 |
OPERATING LOSS
| |
For the year ended June 30, 2014 |
For the year ended June 30, 2013 |
| Operating Loss |
$4,741,122 |
($3,344,654) |
NON-OPERATING REVENUES
| |
For the year ended June 30, 2014 |
For the year ended June 30, 2013 |
| Gifts, noncapital |
$5,615,557 |
$5,840,476 |
| Investment income, net |
$94,401 |
$1,045 |
| Endowment income, net |
$6,506,119 |
$4,855,235 |
| Total |
$12,216,097 |
$10,696,756 |
INCOME BEFORE OTHER ADDITIONS
| |
For the year ended June 30, 2014 |
For the year ended June 30, 2013 |
| Income before other additions |
$7,474,955 |
$7,352,102 |
ADDITIONS TO PERMANENT ENDOWMENTS
| |
For the year ended June 30, 2014 |
For the year ended June 30, 2013 |
| Additions to permanent endowments |
$1,686,855 |
$1,319,681 |
INCREASE IN NET POSITION BEFORE SPECIAL ITEM
| |
For the year ended June 30, 2014 |
For the year ended June 30, 2013
|
| Increase in net position before special item |
$9,161,810 |
$8,671,783 |
SPECIAL ITEM
| |
For the year ended June 30, 2014 |
For the year ended June 30, 2013 |
| Transfer of net position from CSULB Research Foundation |
$1,626,288 |
53,525,874 |
INCREASE IN NET POSITION
| |
For the year ended June 30, 2014 |
For the year ended June 30, 2013 |
| Increase in net position |
$10,788,098 |
$62,197,657 |
NET POSITION AT BEGINNING OF YEAR
| |
For the year ended June 30, 2014 |
For the year ended June 30, 2013 |
| Net position at beginning of year |
$62,197,657 |
None |
NET POSITION AT END OF YEAR
| |
For the year ended June 30, 2014 |
For the year ended June 30, 2013 |
| Net position at end of year |
$72,985,755 |
$62,197,657 |
The above financial statements were audited by Windes, Inc. The full set of audited financial statements is available upon request. The accompanying notes are an integral part of these financial statements.
