2023Brief Summary of FY23 Audited Financial Statements Massachusetts School of Law at Andover’s (MSLAW) FY23 audited financial statements show an increase in net assets at the end of the year to $11,034,075 in FY23 from $10,583,991 in FY22. As the financial statements show, MSLAW has no long-term debt and all liabilities at the end of FY23 totaled less than $125,703.MSLAW’s net assets rose at the end of the year by over $450,000. MSLAW’s investments in Equities and Certificates of Deposit totaled $7,900,540 at the end of FY23.The full Audited Financial Statements & Reports for FY23 including the notes and analysis are attached and can be found here. 2022Brief Summary of FY22 Audited Financial Statements Massachusetts School of Law at Andover’s (MSLAW) FY22 audited financial statements show a decrease in net assets from $11,945,890 in FY21 to $10,679,528 in FY22. As the financial statements show, MSLAW has no long-term debt and all liabilities at the end of FY22 totaled less than $96,000.With a significant decline in its investments, MSLAW’s net assets fell at the end of the year fell by over $1,300,000 with investments falling to $7,862,591 from $8,829,481 in FY21. MSLAW’s investments in Equities and Certificates of Deposit totaled $7,862,591 at the end of FY22.The full Audited Financial Statements & Reports for FY22 including the notes and analysis are attached and can be found here. 2021Brief Summary of FY21 Audited Financial Statements Massachusetts School of Law at Andover (MLSAW) saw positive increases on key financial metrics in FY21 including a million and a half dollar increase in total assets with a net increase in assets of over $2,200,000. In FY21, overall revenue increased by over $1,300,000. Expenses decreased in 2021 by just over $600,000. As the financial statements show, MSLAW has no long-term debt and all liabilities at the end of FY21 totaled less than $35,000. MSLAW’s net assets at the end of the year grew by over $2,200,000 to $11,911,013 from $9,682,350 in FY20. MSLAW’s investments in Equities and Certificates of Deposit totaled $8,829,481 compared to slightly less than $7,000,000 for the preceding year. The full Audited Financial Statements & Reports for FY21 including the notes and analysis are attached and can be found here. 2020Brief Summary of FY20 Audited Financial Statements Massachusetts School of Law at Andover (MLSAW) saw positive increases on key financial metrics in FY20 including over a million dollar increase in total assets with a net increase in assets of over $700,000. Compared to 2019, expenses increased by just over $100,000. In FY20, overall revenue increased by over $1,000,000. As the financial statements show, MSLAW has less than $700,000 in long term debt and its only current liability at the end of FY19 was deferred tuition of $35,141. At the end of FY20, MSLAW’s total assets were $10,371,559 compared to $8,996,547 in FY19 and net assets totaled $9,682,350 compared to $8,944,412. MSLAW’s investments in Equities and Certificates of deposit totaled $6,817,300 compared to slightly less than $6,000,000 for the preceding year. The full Audited Financial Statements & Reports for FY20 including the notes and analysis are attached and can be found here. 2019Brief Summary of FY19 Audited Financial Statements Massachusetts School of Law at Andover (MSLAW) saw positive results on key financial metrics in FY19, including a slight increase in total assets and a significant decrease in total expenses compared to 2018. So while there was a decrease in operating revenue of $250,000, a reduction in expenses of over $450,000 resulted in an increase in net assets for the year. As the financial statements show, MSLAW has no long term debt and its only liability at the end of FY19 was for deferred tuition of $52,135. At the end of FY19, MSLAW’s net assets totaled $8,944,412 and MSLAW’s investments in Equities and Certificates of deposit totaled $5,955,563.The full Audited Financial Statements & Reports including the notes and analysis is attached and can be found here.