Johns Hopkins University Financial Report 2002

Johns Hopkins University
Statement of Activities
Year ended June 30, 2002 (in thousands)

		Unrestricted Net Assets	Temporarily Restricted Net Assets	Permanently Restricted Net Assets	Total
Operating revenues:
	Tuition and fees, net of student financial aid	$ 254,062	–	–	254,062
	Grants, contracts and similar agreements	1,394,147	–	–	1,394,147
	Clinical services	228,069	–	–	228,069
	Reimbursements from affiliated institutions	159,261	–	–	159,261
	Contributions	73,350	70,660	–	144,010
	Investment income	124,322	–	–	124,322
	Maryland State aid	19,284	–	–	19,284
	Sales and services of auxiliary enterprises	46,072	–	–	46,072
	Other	47,914	–	–	47,914
	Net assets released from restrictions	16,104	(16,104)	–	–
	Total operating revenues	2,362,585	54,556	–	2,417,141
Operating expenses:
	Compensation and benefits	1,315,347	–	–	1,315,347
	Contractual services	488,068	–	–	488,068
	Supplies, materials and other	276,540	–	–	276,540
	Depreciation of property and equipment	82,809	–	–	82,809
	Travel	44,392	–	–	44,392
	Interest	24,365	–	–	24,365
	Total operating expenses	2,231,521	–	–	2,231,521

Excess of operating revenues over expenses		131,064	54,556	–	185,620
Nonoperating revenues, gains and losses:
	Contributions	–	3,377	75,279	78,656
	Investment loss	(220,326)	(108)	(6,756)	(227,190)
	Loss on disposals of property and equipment	(3,832)	–	–	(3,832)
	Net assets released from restrictions	19,803	(19,803)	–	–
	Loss on extinguishment of debt	(8,443)	–	–	(8,443)
	Other	(37,996)	(777)	(2,245)	(41,018)
	Nonoperating revenues, gains and losses, net	(250,794)	(17,311)	66,278	(201,827)

Increase (decrease) in net assets		(119,730)	37,245	66,278	(16,207)
Net assets at beginning of year		1,828,524	342,874	782,637	2,954,035

Net assets at end of year		$1,708,794	380,119	848,915	2,937,828

See accompanying notes to financial statements.

Johns Hopkins University
Statement of Activities
Year ended June 30, 2001 (in thousands)

		Unrestricted Net Assets	Temporarily Restricted Net Assets	Permanently Restricted Net Assets	Total
Operating revenues:
	Tuition and fees, net	$ 231,783	–	–	231,783
	Grants, contracts and similar agreements	1,190,958	–	–	1,190,958
	Clinical services	194,538	–	–	194,538
	Reimbursements from affiliated institutions	132,497	–	–	132,497
	Contributions	51,393	172,234	–	223,627
	Investment income	109,846	–	–	109,846
	Maryland State aid	17,680	–	–	17,680
	Sales and services of auxiliary enterprises	42,703	–	–	42,703
	Other	35,073	–	–	35,073
	Net assets released from restrictions	51,441	(51,441)	–	–
	Total operating revenues	2,057,912	120,793	–	2,178,705
Operating expenses:
	Compensation and benefits	1,159,727	–	–	1,159,727
	Contractual services	418,104	–	–	418,104
	Supplies, materials and other	241,475	–	–	241,475
	Depreciation of property and equipment	70,790	–	–	70,790
	Travel	46,328	–	–	46,328
	Interest	28,408	–	–	28,408
	Total operating expenses	1,964,832	–	–	1,964,832

Excess (deficiency) of operating revenues over expenses		93,080	120,793	–	213,873
Nonoperating revenues, gains and losses:
	Contributions	–	23,461	59,352	82,813
	Investment income	(131,033)	(502)	(5,024)	(136,559)
	Loss on disposals of property and equipment	(2,368)	–	–	(2,368)
	Net assets released from restrictions	27,595	(27,595)	–	–
	Loss on extinguishment of debt	(585)	–	–	(585)
	Other	(4,871)	2,145	(1,856)	(4,582)
	Nonoperating revenues, gains and losses, net	(111,262)	(2,491)	52,47 2	(61,281)

Increase (decrease) in net assets		(18,182)	118,302	52,472	152,592
Net assets at beginning of year		1,846,706	224,572	730,165	2,801,443

Net assets at end of year		$1,828,524	342,874	782,637	2,954,035

See accompanying notes to financial statements.