2021-2022 FINANCIALS
FINANCIALS
STATEMENTS OF ACTIVITIES ($ IN 000’s) REVENUES: as of June 30, 2022 2021 Tuition and Fees, Net $ 89,373 $ 90,117 Gifts, Grants and Contracts 12,855 9,815 HEERF Funding 11,246 8,584 Other 6,024 4,274 TOTAL $119,498 $112,790 EXPENSES: Compensation $ 69,853 $ 65,791 Programs and Operations 41,519 37,034 TOTAL $111,372 $102,825 • Occupancy and utilities expenses declined by about $2.2 million, reflecting NLU’s intentional reduced physical facility footprint. • NLU benefitted from funding from the federal government’s Higher Education Emergency Relief Fund (HEERF). Most of this funding provided financial assistance to our highest-needs students who were impacted adversely by the pandemic. Statements of Financial Position Highlights • Increased cash and investments to $65 million at June 30, 2022. • Maintained an unrestricted liquidity ratio of 1.7, about double of what is required in the University’s debt covenants. • Weathered volatile markets and returned +24% and -11% in 2021 and 2022, respectively. Each year was better than its internal investment return benchmarks that are based on blend of equity, debt and alternative indices. Statements of Activities Highlights • Operating margins of a strong $8 million. • Tuition and fees are the University’s primary revenue source.
STATEMENTS OF FINANCIAL POSITIONS ($ IN 000’s) ASSETS: as of June 30, 2022 2021 Cash and Investments $ 64,630 $ 62,102 Net Property 54,334 56,049 Other 10,009 10,222 TOTAL ASSETS $128,973 $128,373 National Louis University ended the 2022 fiscal year in solid financial condition after another year of positive operating results . H ighlights included the introduction of the Accelerate U program that provides short-term credentials to students and the undergraduate teacher preparation programs saw growth of 12% in new students. • NLU served approximately 10,100 students in both 2022 and 2021, a remarkable accomplishment in a period in which most higher education institutions nationally have been experiencing enrollment declines. • The University introduced its new Accelerate U program that provides short-term credentials to students looking for an alternative track to quickly earn an education and employment. • The University benefitted from strength in its undergraduate teacher preparation programs that saw growth of 12% in new students last year. The University’s statements of financial position and activities as of and for the year ended June 30, 2022 are below:
LIABILITIES AND EQUITY: Long-Term Debt
$ 23,054 $ 24,102
Other Liabilities Total Liabilities
13,449 36,503 92,470
13,679 37,781 90,592
Operating Margin
$ 8,126 $ 9,965
Equity
Investment Income/Other CHANGE IN NET ASSETS
(6,247)
5,997
TOTAL LIABILITIES & EQUITY
$ 1,879 $ 15,962
$128,973 $128,373
15
Powered by FlippingBook