7 Annual Report | 2023-2024 SJCI Balance Sheet As of June 30, 2024 SJCI Statement of Activities Fiscal Year Ended June 30, 2024 Assets .......................................................... $58,577,400 Liabilities ..................................................... $4,628,049 Net Assets ................................................... $53,949,351 Without donor restrictions .................. $23,824,956 With donor restrictions ........................ $29,625,977 Revenue ....................................................... $8,838,365 Tuition and fees ..................................... $11,400,469 Less: Tuition support ............................. ($3,585,000) Other sources ........................................ $1,022,896 Expenses ...................................................... ($10,750,231) Loss from Operations ................................. ($1,911,866) Fundraising, Investment & Other Income .......................................... $6,077,045 Post-Retirement Health Care Benefit Obligation ...................................... $111,736 Change in Net Assets ................................. $4,276,915 SJCI Endowment Update SJCI’s Scholarship and Endowment Fund (SEF) earned an 11.9% investment return, net of fees, for the year ending June 30, 2024, representing $3,945,624 in investment gains. After receipt of $1,111,855 in gifts, the endowment value increased to $29,625,977 as of June 30, 2024. The SJCI SEF provides crucial support to the school. It has managed to provide a steady stream of income for financial aid and scholarships while preserving purchasing power for future generations. To meet this goal, the endowment invests with a long time horizon, and the school balances current spending needs with support for its long-term priorities. The endowment is structured to support the school in perpetuity by pursuing an investment strategy designed to achieve its goals through the careful consideration of risk and return across asset classes, including public securities, marketable alternatives and real assets, and through the astute selection of external investment managers. This investment strategy has produced excellent long-term results. Over the seven years ending June 30, 2024, SJCI SEF has returned 6.8% per annum, which is directly in line with the benchmark target prescribed in our endowment investment policy statement. James P. Carr ’94 Member of the Board of Trustees Chair of the Investment Committee
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