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Morehouse School of Medicine, Inc. and Affiliate
Consolidated Statements of Activities and Changes in Net Assets

Year ended June 30, 2016 2015
Changes in Total Net Assets are
based on the activity presented in the
Consolidated Statement of Activities
and Changes in Net Assets. Revenues and Other Additions $ $
Tuition and fees 16,233,420 14,878,020
The purpose of the statement is to Student aid (3,166,072) (2,662,434)
present the revenues earned, Tuition and fees, net of student aid 13,067,348 12,215,586
expenses incurred, and the operating Federal, state, and local government grants and contracts 131,145,956 77,628,473
margin realized for the fiscal year Private gifts, grants, and contracts 29,531,547 44,066,983
end. Faculty practice plan 9,670,316 9,229,587
Investment income (624,863) 2,101,016
Other sources 2,364,354 1,743,312

Total Revenues and Other Additions $185,154,658 $146,984,957

Operating Expenditures
Education and general:
Instruction 56,534,046 55,162,321
Research 25,822,272 26,901,140
Public service 7,415,394 8,753,420
Academic support 9,622,882 7,417,736
Student services 3,317,909 2,538,506
Institutional support 29,782,365 22,262,414
Facilities operations and maintenance 4,851,235 4,900,660
Depreciation 5,134,081 5,018,650
Faculty practice plan 10,710,931 9,012,980

Total Operating Expenditures $153,191,115 $ 141,967,827

Loss on Disposal of Property Equipment $ 872,101
Change in Net Assets 31,963,543 4,145,029
Net Assets, beginning of year 157,605,257 153,460,228

Net Assets, end of year $189,568,800 $157,605,257

Morehouse School of Medicine | Annual Report | 2016 33