FY 2014 Financial Overview

EDC’s revenue totaled $162.1 million in fiscal year 2014. A surplus of $299,766 brings our net assets to $20.3 million as of September 30, 2014. EDC continually invests its net assets to support our projects, programs, and research.

FINANCIAL STATEMENTS

Fiscal years ended September 30, 2014 and 2013.

        $, in thousands
          2014         2013
Income Statement
Revenue (including change in temporarily restricted assets) $162,066 $206,474
Expenses
Salaries and Benefits 76,222 89,749
Materials, Supplies, and Other Costs 55,954 64,195
Subcontract Costs 29,590 51,500
Total Expenses 161,766 205,444
Change in Net Assets $300 $1,030
Balance Sheet
Assets
Current Assets $42,128 $44,949
Property and Equipment, Net 13,660 15,763
Other Assets 351 387
Total Assets $56,139 $61,099
Liabilities and Net Assets
Current Liabilities $25,493 $29,831
Long-Term Liabilities 10,363 11,285
Total Liabilities 35,856 41,116
Net Assets 20,283 19,983
Total Liabilities and Net Assets $56,139 $61,099

Growth in EDC Activity

Revenues from FY 2005 through FY 2014 (in millions)

  1. FY05 $105
  2. FY06 $120.9
  3. FY07 $130.9
  4. FY08 $145.4
  5. FY09 $145.9
  6. FY10 $180
  7. FY11 $200.2
  8. FY12 $194.5
  9. FY13 $206.5
  10. FY14 $162.1

Sources of Funding

U.S. Government: International (47%)

U.S. Government: Domestic (39%)

Private and Other Public* (14%)

* Includes development banks, foundations, corporations, state and local agencies, and other nonprofits

Expenses

Program Services (91%)

Administrative (9%)