Financial Statements Released for Fiscal 2022

October 12, 2022

The University has released financial statements for its fiscal year 2022, with net assets of $18.4 billion, a decrease of $1.2 billion from fiscal 2021. The change in net assets reflects a decrease in non-operating activities, primarily due to the decline in the value of investments, and a positive change in assets from operating activities, reflecting an operating surplus of $349 million. The FY22 operating surplus stands in stark comparison to FY21, which was unusually low due to the effects of COVID-19 on the University’s operations. Many, but not all, units returned in FY22 to pre-COVID levels of financial stability. Funds generated from operations allows us to continue to invest in our programs, as well as critical capital projects to support the maintenance and renovation of our physical infrastructure. We remain grateful to the donors, federal and state agencies, and private foundations who helped us navigate the operational and financial uncertainty of the past several years, employees who sacrificed personally during the pandemic, and the students and patients who motivate us to move our institution forward.

Our Financial Overview website includes financial highlights, a statement from the President of our Investment Management Company, and additional background.

Anne Sullivan
Executive Vice President for Finance and Information Technology

View Financial Statements for Fiscal 2022