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)
- FY04 $94.8
- FY05 $105
- FY06 $120.9
- FY07 $130.9
- FY08 $145.4
- FY09 $145.9
- FY10 $180
- FY11 $200.2
- FY12 $194.5
- 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%)