Wagner College continues its growth in investments and net assets, closing the 2012–13 fiscal year with investments totaling $74.4 million, and net assets totaling $84.2 million, the highest levels the College has seen. These increases were a result of positive investment returns, sound financial management, and the support of alumni and friends of the College. We had a modest operating surplus for fiscal year 2012–13 and expect similar results for this fiscal year.
Net assets, comparable to corporate equity or net worth, are the sum of an institution's assets, minus its debts.
* Data points reflect end of fiscal year, August 31.
Wagner College Balance Sheets
Fiscal year ended August 31, 2013 and August 31, 2012
|Cash and cash equivalents||$13,234,833||$14,969,058|
|Accounts receivable, less allowance for doubtful accounts of $725,000 in 2013 and 2012||2,777,119||2,575,521|
|Inventory, prepaid expenses, and other assets||1,145,765||916,576|
|Contributions receivable, net||2,657,627||4,921,810|
|Notes receivable, less allowance for doubtful loans of $396,000 in 2013 and $307,000 in 2012||2,766,175||2,766,187|
|Amounts held by bond trustees||7,450,281||3,351,526|
|Bond issuance costs||2,403,633||1,860,140|
|Property, plant, and equipment, net||77,655,445||77,758,500|
|Liabilities and Net Assets||2013||2012|
|Accounts payable and accrued expenses||$4,496,818||$3,571,223|
|Line of Credit||—||7,000,000|
|Amounts held for others||171,326||207,946|
|Postretirement benefit obligation||94,085||94,183|
|Refundable federal grants||2,903,767||2,737,563|
|Total Net Assets||$84,190,671||$82,181,917|
|Total Liabilities and Net Assets||$184,491,000||$178,165,379|
Wagner College Revenue and Expenses
Fiscal year ended August 31, 2013