Financial Analysis Kuali Foundation Inc. Fiscal Years 2010-2015 instructional media + magic inc. 9 February 2014

Notes The financial data primarily came from publicly available financial statements posted on the Kuali website [www.kuali.org/about/financials] and annual tax returns Form 990 released by the U.S. Internal Revenue Service. The Foundation uses a July 1 to June 30 fiscal year. Because data was manually copied from these documents, there may be errors even though quality assurance processes were followed. Copies of the source documents are available. The data and slides are available as an Excel spreadsheet at www.immagic.com/eLibrary/RESOURCE/IMM/I160208F.xls

The term “Change in Assets” is equivalent to “profit” for profit-making organizations. The term “Revenue and Support” signals programs or projects may be supported by monetary contributions and contributed services. Contributions are reported as “commitments” and considered restricted funds for one year. “Write-off of Commitments” is used when an organization cannot fulfill or was released from its commitment. Commitments are treated as equivalent of accounts receivable. The amounts are recorded as revenue and accounts receivable when the commitment is made.

Kuali Foundation Inc. Fiscal Year Revenue Expenses Change in Assets 2007-08 838,468 529,266 309,202 2008-09 2,348,388 1,669,094 679,294 2009-10 12,757,001 13,528,504 (771,503) 2010-11 14,864,918 21,589,807 (6,724,889) 2011-12 16,832,920 21,814,562 (4,981,642) 2012-13 28,301,661 19,541,493 8,760,168 2013-14 21,888,490 23,790,647 (1,902,157) 2014-15 17,317,843 32,358,126 (15,040,283) Total 115,149,689 134,821,499 (19,671,810)

Kuali Student System 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 Total In-Kind 3,607,500 7,215,000 Partner 5,427,651 5,437,651 10,865,302 Contributions 2,500,000 2,593,936 4,816,093 13,192,000 9,657,000 9,045,151 41,804,180 Expenses 7,282,342 8,042,463 6,436,631 8,579,625 10,889,382 8,450,929 49,681,372 Project net (4,782,342) (5,448,527) (1,620,538) 4,612,375 (1,232,382) 594,222 (7,877,192) Cumulative deficit (10,230,869) (11,851,407) (7,239,032) (8,471,414)

Coeus Research Administration Project 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 Total Contributions 426,000 2,432,150 5,074,891 1,127,079 2,032,500 2,630,438 13,723,058 Expenses 1,920,300 2,945,278 2,086,894 1,822,931 2,741,731 13,437,434 Project net (1,494,300) 511,850 2,129,613 (959,815) 209,569 (111,293) 285,624 Cumulative return (982,450) 1,147,163 187,348 396,917

Kuali Rice (infrastructure) 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 Total Contributions 270,000 2,156,250 1,215,833 2,463,750 2,210,000 1300000 9,615,833 Expenses 1,383,072 1,743,810 2,397,513 2,265,038 2,379,577 1948476 12,117,486 Project net (1,113,072) 412,440 (1,181,680) 198,712 (169,577) (648,476) (2,501,653) Cumulative deficit (700,632) (1,882,312) (1,683,600) (1,853,177)

Financial Support, All Projects Revenue Expenses Net Student 42,128,016 49,681,372 (7,553,356) Financial & HR 13,165,751 13,305,190 (139,439) Research Admin 12,233,058 13,437,434 (1,204,376) OLE (Library) 10,380,632 8,684,883 1,695,749 Student Accounts 3,100,000 490,000 2,610,000 Ready (Continuity) 280,000 3,650,216 (3,370,216) Rice 9,615,833 12,117,436 (2,501,603) Mobility 1,755,500 1,514,365 241,135 UXI User Interface 1,408,000 1,223,893 184,107 Total 94,066,790 104,104,789 (10,037,999) Ready development program revenue does not include $706,875 received in 2014 and $760,000 received in 2013 for Ready cloud servicing. These amounts are included in total revenue.

Kuali Conferences 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 Total Kuali Days: Revenue 279,579 428,130 519,267 533,399 593,117 482,413 2,835,905 Kuali Days: Expenses 251,409 392,414 428,391 455,304 565,535 462,197 2,555,250 Workshop: Revenue 69,292 83,027 73,144 28,539 254,002 Workshop: Expenses 166,018 137,258 137,877 99,196 540,349 Total Change in Assets 28,170 35,716 (5,850) 23,864 (37,151) (50,441) (5,692)

Trends from 2009-10 to 2014-15 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 Revenue 0.0% 16.5% 32.0% 121.9% 71.6% 35.8% Membership Dues 10.7% 42.8% 52.9% 71.0% 42.3% Expenses 59.6% 61.2% 44.4% 75.9% 137.7% Write-off of Commitments -17.7% -83.5% -74.1% 399.5% Foundation Expenses 84.1% 52.5% 118.9% 77.9% 65.6% Change in Assets 771.7% 545.7% -1235.5% 146.6% 1849.5%

Management Ratios Management Ratios 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 Development cost/revenue 125.4% 143.4% 130.3% 71.0% 117.7% 170.7% Conferences Revenue/Expenses 111.2% 109.1% 99.0% 104.0% 94.7% 91.0% Foundation expenses/program revenue 6.0% 9.3% 6.6% 5.5% 6.1% 5.3% Write-off/revenue 0.0% 15.8% 11.5% 1.4% 2.8% 67.6%

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Data Sources Financial data for 2007-08 and 2008-09 were taken from IRS Tax Returns form 990. For 2009-10 through 2014-15 data was taken from Kuali Foundation Inc. financial statements as available from the Kuali sites. Data tables that are source for the charts, which may also include additional totals, are provided after each graphic.