with summarized nancial information for the year ended June 30, 2021
For the year ended
Without Donor With Donor June 30
In thousands of dollars Restrictions Restrictions 2022 2021
OPERATING REVENUE:
Net student income (Notes 2 and 12) ,, ,, ,
Sponsored support (Note 13)
Federal government – direct costs , , ,
Federal government – indirect costs , , ,
Non-federal sponsors – direct costs , , , ,
Non-federal sponsors – indirect costs , , , ,
Total sponsored support , , , ,
Gifts for current use (Note 14) , , , ,
Investment income:
Endowment returns made available for operations (Note 8) , ,, ,, ,,
GOA returns made available for operations , , ,
Other investment income , , , ,
Total investment income , ,, ,, ,,
Other revenue (Note 15) , , ,
Net assets released from restriction ,, (,,)
TOTAL OPERATING REVENUE ,, , ,, ,,
OPERATING EXPENSES:
Salaries and wages ,, ,, ,,
Employee benets (Note 11) , , ,
Services purchased , , ,
Depreciation (Note 7) , , ,
Space and occupancy , , ,
Supplies and equipment , , ,
Interest (Note 10) , , ,
Scholarships and other student awards (Note 12) , , ,
Other expenses (Note 16) , , ,
TOTAL OPERATING EXPENSES ,, ,, ,,
NET OPERATING SURPLUS , , , ,
NONOPERATING ACTIVITIES:
Income from GOA investments , , ,
GOA realized and change in unrealized (depreciation)/appreciation, net (Note 3) (,) (,) ,,
GOA returns made available for operations (,) (,) (,)
Change in pledge balances (Note 6) , , (,)
Change in interests in trusts held by others (,) (,)
Gifts for facilities and loan funds (Note 14) , , ,
Change in retirement obligations (Note 11) , , ,
Other changes (,) (,) (,)
Transfers between GOA and endowment (Note 8) (,) , (,) ()
Transfers between GOA and split interest agreements (Note 9) , , ,
Non-operating net assets released from restrictions , (,)
TOTAL NONOPERATING ACTIVITIES (,) , (,) ,,
GENERAL OPERATING ACCOUNT NET CHANGE DURING THE YEAR (,) , , ,,
Endowment net change during the year (,) (,,) (,,) ,,
Split interest agreements net change during the year (Note 9) (,) (,) ,
NET CHANGE DURING THE YEAR (,) (,,) (,,) ,,
Net assets, beginning of year ,, ,, ,, ,,
NET ASSETS, END OF YEAR ,, ,, ,, ,,
The accompanying notes are an integral part of the consolidated nancial statements.
HARVARD UNIVERSITY
CONSOLIDATED FINANCIAL STATEMENTS