BIENNIAL REPORT
2009–2011
STATEMENT OF ACTIVITIES FOR THE YEAR ENDED
JUNE 30, 2010
General
Diversity
Total
Operating
Investment
Research
Initiatives
2010
2009
Changes in unrestricted net assets:
Revenuesand gains:
Admission service fees: LSAT
31,562,502
$
-
$
-
$
-
$
31,562,502
$
27,280,506
$
Admission service fees: CAS
18,032,581
18,032,581
16,307,301
Publications sales
5,783,000
5,783,000
7,181,326
Fee waivers
(4,473,174)
(4,935)
(4,478,109)
(2,714,078)
Management services
452,400
452,400
406,595
Data service fees
181,198
181,198
153,944
Forum and workshop fees
1,050,375
19,360
1,069,735
993,545
Other operating income
1,213,621
1,213,621
1,242,157
Interest and dividend income
851
3,173,128
3,173,979
3,132,542
Net realized investment gains (losses)
8,342,905
8,342,905
(19,584,915)
Net unrealized investment gains (losses)
8,683,840
8,683,840
(23,987,661)
Rental income
874,207
874,207
656,517
Gain (loss) on disposal of equipment
-
(220,571)
Total unrestricted revenues, gainsand other support
53,803,354
21,074,080
-
14,425
74,891,859
10,847,208
Expenses:
Information systems
13,867,704
13,867,704
12,395,059
Testing services
9,605,458
9,605,458
8,894,247
Admission services
7,972,223
7,972,223
8,248,054
Operation and maintenance of the plant
4,565,680
360,878
4,926,558
5,832,142
Financial services
5,470,859
523,883
5,994,742
4,680,030
Council, events, meetings and forums
4,437,551
83,780
4,521,331
3,349,411
Communications and publication services
2,504,445
3,103
2,507,548
2,263,140
General and administrative services
2,044,777
2,044,777
2,396,541
Diversity initiatives
1,774,572
1,433,594
3,208,166
2,525,223
Research services
327,558
275,696
603,254
493,098
Legal services
2,116,713
10,668
2,127,381
1,544,729
Total expenses
54,687,540
895,429
275,696
1,520,477
57,379,142
52,621,674
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENSES
(884,186)
20,178,651
(275,696)
(1,506,052)
17,512,717
(41,774,466)
OTHER CHANGES IN NET ASSETS:
Board designated appropriations for:
Diversity initiatives projects
(1,243,615)
1,243,615
-
-
Research projects
(1,243,615)
1,243,615
-
-
General operating fund (excess) deficit
884,186
(884,186)
-
-
Purchase of property and equipment
-
-
-
-
Depreciation
-
-
-
-
INCREASE (DECREASE) IN UNRESTRICTED NET ASSETS
-
16,807,235
967,919
(262,437)
17,512,717
(41,774,466)
UNRESTRICTED NET ASSETS, BEGINNING OF YEAR
1,614,880
131,075,725
4,959,010
1,904,384
139,553,999
181,328,465
UNRESTRICTED NET ASSETS, END OF YEAR
1,614,880
$
147,882,960
$
5,926,929
$
1,641,947
$
157,066,716
$
139,553,999
$