FY 2013 Financial Overview

EDC’s revenue totaled $206.5 million in fiscal year 2013. A surplus of $1 million brings our net assets to $20 million as of September 30, 2013.
EDC continually invests its net assets to support our projects, programs, and research.

Financial Statements

Fiscal years ended September 30, 2013 and 2012.

$, in thousands
  2013 2012
Income Statement
Revenue (including change in temporarily restricted assets) $206,474 $194,500
Expenses
        Salaries and Benefits 89,749 90,035
        Materials, Supplies, and Other Costs 64,195 61,364
        Subcontract Costs 51,500 41,229
Total Expenses 205,444 192,628
Change in Net Assets $1,030 $1,872
Balance Sheet
Assets
        Current Assets $44,949 $44,795
        Property and Equipment, Net 15,763 17,775
        Other Assets 387 379
Total Assets $61,099 $62,949
Liabilities and Net Assets
        Current Liabilities $29,831 $30,587
        Long-Term Liabilities 11,285 13,409
Total Liabilities 41,116 43,996
Net Assets 19,983 18,953
Total Liabilities and Net Assets $61,099 $62,949

Growth in EDC Activity

Revenues from FY 2004 through FY 2013 (in millions)

  1. FY04 $94.8
  2. FY05 $105.0
  3. FY06 $120.9
  4. FY07 $130.9
  5. FY08 $145.4
  6. FY09 $145.9
  7. FY10 $180.2
  8. FY11 $200.2
  9. FY12 $194.5
  10. FY13 $206.5

Sources of Funding

U.S. Government: International (54%)

U.S. Government: Domestic (37%)

Private and Other Public* (9%)

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


Expenses

Program Services (91.7%)

Administrative (8.3%)