2002 Annual Report

For the Fiscal Year Ended Sept. 30
(Dollars in thousands)

2002

2001

Revenues

Research

161,851

140,768

Patient Service, net

146,890

119,182

Unrestricted Jimmy Fund Contributions and Bequests

28,407

28,434

Other Operating

26,859

27,326

Total Revenues

$364,007

$315,710

Expenses

Direct Research

132,119

113,196

Direct Patient Care

108,790

95,728

Indirect

121,995

109,778

Total Operating Expenses

$362,904

$318,702

Deficit Before Investment Return

1,103

(2,992)

Realized Investment Return, net

(34,509)

(7,363)

Excess of Revenues Over Expenses

(33,406)

(10,355)

Net Unrealized Investment Gains (Losses)

10,632

(36,967)

Loss on Early Extinguishment of Debt

(232)

—

Increase (Decrease) in Temporarily Restricted Net Assets

3,695

(8,880)

(Decrease) Increase in Permanently Restricted Net Assets

5,760

3,162

Increase (Decrease) in Net Assets

(13,551)

(53,040)

Net Assets at Beginning of Year

427,905

480,945

Net Assets at End of Year

$414,354

$427,905