The University of San Diego is committed to upholding the highest standards of honest behavior, ethical conduct and fiduciary responsibility with respect to university funds, resources and property. Following is an accounting of resources and activities by combined net asset categories for the fiscal year ending June 30.

Sources of 2011–2012 Revenue, Gains and Other Support

Operating Revenues, Gains and Other Support	2011–2012	2010–2011	2009–2010
Tuition and fees	$214,754,779	$204,828,144	$190,974,196
Grants and contracts	13,184,992	13,135,198	9,423,950
Contributions	30,524,106	24,092,508	17,963,126
Investment income, net	(25,280,925)	56,188,351	28,838,109
Sales and services of auxiliary enterprises	46,851,157	45,244,622	46,057,483
Athletics, recreation and other	3,757,361	3,554,966	3,201,208
Total Operating Revenues, Gains and Other Support	$283,791,471	$347,043,789	$296,458,071

Operating Functional Expenses
Educational and program expenses	$164,419,657	$156,904,648	$150,000,097
Auxiliary enterprise expenditures	41,978,481	40,004,828	41,405,190
Management and general expenses	58,279,266	56,836,909	57,763,654
Total Operating Functional Expenses	$264,677,404	$253,746,385	$249,168,941

Increase in Combined Net Assets
Unrestricted net assets	$8,520,053	$54,419,295	$22,517,824
Temporarily restricted net assets	1,430,515	30,000,818	23,265,699
Permanently restricted net assets	9,163,499	8,877,291	1,505,607
Overall Increase (Decrease) in Net Assets	$19,114,067	$93,297,404	$47,289,130

Financial Aid Awarded *

(millions of dollars/number of students)

* Includes parent loans
** Based on estimates, subject to final review

Fall Enrollment	Degrees Awarded

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Since its founding, the University of San Diego has achieved distinction on many levels. It has outstanding faculty and exceptional students, innovative undergraduate and graduate programs, centers and institutes, acclaimed community outreach efforts and competitive men’s and women’s athletic programs. The generous support of donors has helped make the university a preeminent institution of Catholic higher education.

2011–2012 Sources of Total Philanthropic Support 70.3% Community/Friends 9.2% Foundations 8.0% Parents 5.4% Corporate 5.1% Alumni 1.7% Other Donors 0.3% Faculty/Staff

2011–2012 Designations of Philanthropic Commitments 33.4% School of Nursing 11.5% Athletics 11.3% General Scholarships/Financial Aid 10.8% Other Restricted 6.1% School of Business Administration 5.5% School of Leadership and Education Sciences 5.0% School of Law 4.7% Restricted Unassigned 4.0% Unrestricted 3.5% College of Arts and Sciences 2.8% Buildings 1.4% School of Peace Studies

Philanthropic Commitments to USD *	Grants and Contracts
Endowment Fund

* Figures are unaudited and subject to change. Final year-end results may vary from those reported here.