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Financials
Balance Sheet
Assets
IN MILLIONS for the Fiscal Year {FY} ended June 30...
|
2014 | 2013 | 2012 |
Cash |
44 | 38 | 26 |
unrestricted reserves |
99 | 83 | 119 |
receivables, loans, & other assets |
475 | 319 | 222 |
Invested Funds |
|||
Endowment investments |
2,970 | 2,658 | 2,485 |
current fund investments |
96 | 78 | 42 |
interest in trusts held by others |
158 | 144 | 138 |
Facilities, net of accumulated depreciation |
567 | 511 | 458 |
total assets | $ 4,409 m.
|
$ 3,831 m.
|
$ 3,490 m.
|
Liabilities
IN MILLIONS for the Fiscal Year {FY} ended June 30...
|
2014 | 2013 | 2012 |
Deposits, Advances, & Other |
60 | 56 | 53 |
Deferred Revenue |
88 | 85 | 65 |
Other Debt Owed to University |
27 | 23 | 23 |
Building Debt |
85 | 91 | 99 |
total liabilities | $ 260 m.
|
$ 255 m.
|
240 m.
|
Composition of Net Assets
IN MILLIONS for the Fiscal Year {FY} ended June 30...
|
2014 | 2013 | 2012 |
unrestricted reserves |
99 | 83 | 119 |
undistributed income & other |
16 | 5 | 5 |
pledge balances |
317 | 179 | 92 |
student loan funds |
11 | 9 | 10 |
investment in facilities |
482 | 420 | 359 |
endowment & other invested funds |
3,224 | 2,880 | 2,665 |
total assets net of liabilities |
$ 4,149 m.
|
$ 3,576 m.
|
$ 3,250 m.
|
* The Statement of Activity & Cash Flows presents a managerial view of Harvard Business School operations focused primarily on cash available for use. It is not intended to present the financial results in accordance with generally accepted accounting principles (GAAP). A presentation in accordance with GAAP would report higher operating revenues for gifts and endowment distribution and would include depreciation expense, yielding income from operations of $41 million in fiscal 2014. Cash flows, however, would be equivalent under GAAP.