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Annual Report 2023

Whitworth's financial health has remained sound despite the significant challenges experienced by higher education institutions across the country. Our generous donors, rising enrollment, innovative new programs, and thoughtful management of institutional resources have positioned us well to continue to carry out our mind-and-heart mission for the benefit of our community, nation, and the world.

Whitworth Endowment

Current: $189 million (total endowment)
Current/Past Performance (as of June 30, 2023)

Total Net Assets

Net Position 2022 2023
Assets (Data in Thousands)    
Cash and cash equivalents $4,043 $2,869
Receivables $17,264 $16,460
Investments and other assets $229,688 $232,859
Net plant $134,052 $132,521
Total assets  $385,047 $384,709
     
Liabilities    
Accruals, other liabilities $18,244 $16,388
Annuities $6,714 $6,500
Long-term debt $95,505 $93,140
Total liabilities $120,463 $116,028
Total net assets $264,584 $268,681
Total net assets & liabilities $385,047 $384,709

Statement of Activities

Operating Revenues (Data in Thousands)

  • Tuition and fees, net of financial aid: $47,710
  • Auxiliary revenue: $13,528
  • Gifts and grants for operations: $9,736
  • Net investment income for operations: $12,474
  • Total operating revenue: $83,178

Operating Expenses

  • Instructional: $44,103
  • Student services: $17,679
  • Auxiliary enterprises: $10,536
  • Institutional support: $13,574
  • Total operating expenses: $85,892
Non-Operating Revenues 
Net long-term investment income/gains (losses) $408
Contributions for endowment and capital projects $6,045
Actuarial adjustment to retiree health benefits $358
Non-operating change in net assets $6,811
   
Change in net assets $4,097
Net assets, beginning of year $264,584
Net assets, end of year $268,681

Five-Year Giving Summary: Generosity Exemplified

Thanks to the incredible generosity of our supporters there is much we can celebrate and look forward to at Whitworth. While transforming gifts for the Dornsife Health Sciences Center and soon-to-be-underway PACCAR Engineering Building made up much of the record fundraising support received this past fiscal year, so did several significant estate gifts from alumni who chose to make their ultimate gift to the university via bequest or planned gift.

As we look ahead to so many cultural and demographic challenges facing higher education in the years ahead, your faithful support inspires us. We are deeply thankful for the thousands of alumni, parents and friends who believe strongly in Whitworth's mind and heart mission. You sustain the work we do and our vision for a future made better in myriad ways by Whitworth graduates.

Year Total (Data in Thousands) The Whitworth Fund Other Unrestricted Unrestricted Total Restricted Total
2018-19 $15,445 $1,252 $869 $2,121 $13,323
2019-20 $9,544 $1,381 $994 $2,375 $7,169
2020-21 $12,304 $1,536 $809 $2,345 $9,960
2021-22 $11,659 $1,238 $1,624 $2,862 $8,797
2022-23 $16,219 $1,342 $5,165 $6,507 $9,712

*Reflects all gifts, including payments received this year on prior-year pledges.

The Whitworth Foundation: Define Your Legacy

The Whitworth Foundation upholds Whitworth University's vital mission of educating the minds and hearts of students. Since 1972, the foundation has helped alumni and friends define their legacy through establishing deferred gifts that benefit the donor today and the university for years to come. The foundation staff, along with an experienced and knowledgeable volunteer board of directors, works with donors to develop gift plans based on their financial objectives, tax considerations and deep desire to support Whitworth.

We at The Whitworth Foundation are grateful to all of you who have included Whitworth University in your estate plans. Because of your gifts, your legacy lives on, both at Whitworth and through Whitworth, as students become equipped to serve, lead and give to a world in need.

Total Deferred Gifts Under Management (Data in Thousands) 
Trusts $8,769
Charitable gift annuities $1,132
Pooled funds $166
Life insurance cash value $3,682
Total assets $13,749

2022-23 life income gift maturities transferred to Whitworth University: $155

New Gifts to The Whitworth Foundation
2018-19 $42
2019-20 $126
2020-21 $16
2021-22 $113
2022-23 $23
Five-year total $320

 

Realized Bequests by Fiscal Year
2018-19 $202
2019-20 $391
2020-21 $1,133
2021-22 $1,050
2022-23 $3,400
Five-year total $6,170

 

Read annual reports from previous years.