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  • Financials
    • Financials
    • 5-Year Data Summary
    • CFO Letter
    • Consolidated Balance Sheet
    • Statement of Activity & Cash Flows
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  • Consolidated Balance Sheet→

Financials

Balance Sheet

  • 5-Year Data Summary
  • CFO Letter
  • Consolidated Balance Sheet
  • Statement of Activity & Cash Flows
  • Supplemental Financial Information

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.




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