Financials
FY 2015
EDC’s revenue totaled $144.8 million in fiscal year 2015. A surplus of $374,928 brings our net assets to $19.9 million as of September 30, 2015. EDC continually invests its net assets to support our projects, programs, and research.
FINANCIAL STATEMENTS
Fiscal years ended September 30, 2015 and 2014.
| $, in thousands | ||
| 2015 | 2014 | |
|---|---|---|
| Income Statement | ||
| Revenue (including change in temporarily restricted assets) | $144,839 | $162,066 |
| Expenses | ||
| Salaries and Benefits | 71,453 | 76,324 |
| Materials, Supplies, and Other Costs | 43,781 | 55,852 |
| Subcontract Costs | 29,980 | 29,590 |
| Total Expenses | 145,214 | 161,766 |
| Change in Net Assets | ($375) | $300 |
| Balance Sheet | ||
| Assets | ||
| Current Assets | $37,339 | $42,128 |
| Property and Equipment, Net | 12,426 | 13,660 |
| Other Assets | 371 | 351 |
| Total Assets | $50,136 | $56,139 |
| Liabilities and Net Assets | ||
| Current Liabilities | $20,474 | $25,493 |
| Long-Term Liabilities | 9,754 | 10,363 |
| Total Liabilities | 30,228 | 35,856 |
| Net Assets | 19,908 | 20,283 |
| Total Liabilities and Net Assets | $50,136 | $56,139 |
Sources of Funding
U.S. Government: International (41%)
U.S. Government: Domestic (47%)
Private and Other Public* (12%)
* Includes development banks, foundations, corporations, state and local agencies, and other nonprofits
Expenses
Program Services (90.6%)
Administrative (9.4%)