BIENNIAL REPORT
2009–2011
STATEMENT OF ACTIVITIES FOR THE YEAR ENDED
JUNE 30, 2011
General
Diversity
Total
Operating
Investment
Research
Initiatives
2011
2010
Changes in unrestricted net assets:
Revenuesand gains:
Admission service fees: LSAT
28,209,083
$
-
$
-
$
-
$
28,209,083
$
31,562,502
$
Admission service fees: CAS
15,367,460
15,367,460
18,032,581
Publications sales
6,523,622
6,523,622
5,783,000
Fee waivers
(3,364,654)
(490)
(3,365,144)
(3,578,984)
Management services
579,399
579,399
452,400
Data service fees
49,872
49,872
181,198
Forum and workshop fees
126,785
1,645
128,430
170,610
Other operating income
1,084,315
1,084,315
1,213,621
Interest and dividend income
1,372
1,991,687
1,993,059
3,173,979
Net realized investment gains (losses)
20,158,488
20,158,488
8,342,905
Net unrealized investment gains (losses)
14,309,235
14,309,235
8,683,840
Rental income
917,375
917,375
874,207
Gain (loss) on disposal of equipment
(37,302)
(37,302)
-
Total unrestricted revenues, gainsand other support
48,539,952
37,376,785
-
1,155
85,917,892
74,891,859
Expenses:
Information systems
14,978,602
14,978,602
13,867,704
Testing services
10,176,205
10,176,205
9,605,458
Admission services
6,885,773
6,885,773
7,972,223
Operation and maintenance of the plant
4,519,003
408,671
4,927,674
4,926,558
Financial services
4,642,114
526,976
5,169,090
5,994,742
Council, events, meetings and forums
4,000,582
43,049
4,043,631
4,521,331
Communications and publication services
2,179,076
15,933
2,195,009
2,507,548
General and administrative services
2,166,335
2,166,335
2,044,777
Diversity initiatives
1,210,804
1,329,130
2,539,934
3,208,166
Research services
401,091
432,774
833,865
603,254
Legal services
1,575,233
10,810
1,586,043
2,127,381
Total expenses
52,734,818
946,457
432,774
1,388,112
55,502,161
57,379,142
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENSES
(4,194,866)
36,430,328
(432,774)
(1,386,957)
30,415,731
17,512,717
OTHER CHANGES IN NET ASSETS:
Board designated appropriations for:
Diversity initiatives projects
(1,490,036)
1,490,036
-
-
Research projects
(1,490,036)
1,490,036
-
-
General operating fund (excess) deficit
4,194,866
(4,194,866)
-
-
Purchase of property and equipment
-
-
-
-
Depreciation
-
-
-
-
INCREASE (DECREASE) IN UNRESTRICTED NET ASSETS
-
29,255,390
1,057,262
103,079
30,415,731
17,512,717
UNRESTRICTED NET ASSETS, BEGINNING OF YEAR
1,614,880
147,882,960
5,926,929
1,641,947
157,066,716
139,553,999
UNRESTRICTED NET ASSETS, END OF YEAR
1,614,880
$
177,138,350
$
6,984,191
$
1,745,026
$
187,482,447
$
157,066,716
$