ASHLAND UNIVERSITY
401 COLLEGE AVENUE, ASHLAND, OH 44805 www.ashland.edu

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Organizations Filed Purposes: ASHLAND UNIVERSITY, AN OHIO NOT-FOR-PROFIT CORPORATION ESTABLISHED IN 1878, IS ACCREDITED BY THE HIGHER LEARNING COMMISSION. GUIDED BY OUR CHRISTIAN HERITAGE, IS A COMPREHENSIVE, PRIVATE UNIVERSITY THAT PROVIDES A TRANSFORMATIVE LEARNING EXPERIENCE, SHAPING GRADUATES WHO WORK, SERVE AND LEAD WITH INTEGRITY IN THEIR LOCAL, NATIONAL, AND GLOBAL COMMUNITIES.THE UNIVERSITY OFFERS DEGREES AT THE UNDERGRADUATE, GRADUATE AND DOCTORAL LEVELS, ALONG WITH VARIOUS CERTIFICATE AND LICENSURE PROGRAMS.

INSTITUTION OF HIGHER EDUCATION

ASHLAND UNIVERSITY OFFERS MORE THAN 70 DIFFERENT ACADEMIC PROGRAMS AT THE BACHELOR'S, MASTER'S, AND DOCTORATE LEVELS. THE ACADEMIC PROGRAMS ARE DIVERSE AND RICH IN OPPORTUNITIES FOR OUR STUDENTS. THE INTEGRATION OF THE LIBERAL ARTS AND CAREER DEVELOPMENT IS A MAJOR STRENGTH OF ASHLAND UNIVERSITY.THE UNIVERSITY CONSISTS OF THE COLLEGE OF ARTS AND SCIENCES, COLLEGE OF BUSINESS AND ECONOMICS, COLLEGE OF EDUCATION, COLLEGE OF NURSING AND HEALTH SCIENCES, AND COLLEGE OF ONLINE AND ADULT STUDIES. THE ACADEMIC AFFAIRS DIVISION ALSO OVERSEES LIBRARY SERVICES, GLOBAL EDUCATION, AND ACADEMIC SUPPORT INCLUDING ADVISING AND TUTORING SERVICES.THE UNIVERSITY RECEIVED FUNDS FROM THE DEPARTMENT OF EDUCATION TO DISBRUSE TO STUDENTS AS EMERGENCY GRANTS AS A RESULT OF THE CORNAVIRUS.ON MARCH 27, 2020, PRESIDENT TRUMP SIGNED INTO LAW THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT). THE CARES ACT CREATED A HIGHER EDUCATION EMERGENCY RELIEF FUND SPECIFICALLY FOR EMERGENCY AID GRANTS TO STUDENTS FOR EXPENSES RELATED TO THE DISTRUPTION OF CAMPUS OPERATIONS DUE TO THE COVID-19 PANDEMIC AND ALSO DIRECT AID TO INSTITUTIONS TO COVER COSTS ASSOCIATED WITH THE SIGNIFICANT CHANGES TO THE DELIVERY OF INSTRUCTION DUE TO THE PANDEMIC. THE UNIVERSITY WAS AWARDED A STUDENT SHARE AND AN INSTITUTIONAL SHARE THAT TOTALED $3,987,716 UNDER THIS PROGRAM. THE UNIVERSITY UTILIZED THE INSTITUTIONAL SHARE FOR THE ROOM AND BOARD REFUNDS THAT WERE ISSUED TO STUDENTS AS NOTED ABOVE. APPROXIMATELY $1,258,000 FUNDS WERE DISBURSED AS EMERGENCY GRANTS TO 782 STUDENTS AS OF MAY 31, 2020 AND IS INCLUDED IN SCHOLARSHIPS ON THE STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS. THE REMAINING FUNDS WERE DISBURSED SUBSEQUENT TO YEAR END.

THE UNIVERSITY'S AUXILIARIES ENTERPRISES OPERATIONS EXIST PRIMARILY TO FURNISH GOODS AND SERVICES TO STUDENTS, FACULTY AND STAFF. MANAGED AS ESSENTIALLY SELF-SUPPORTING ACTIVITIES, THE UNIVERSITY'S AUXILIARY ACTIVITIES CONSIST PRIMARILY OF HOUSING SERVICES, DINING SERVICES, CAMPUS STORES, COPY SERVICES, AND LAUNDRY SERVICES.AS A RESULT OF THE SPREAD OF THE SARS-COV-2 VIRUS AND THE COVID-19 PANDEMIC, THE STATE OF OHIO ISSUED SHELTER-IN-PLACE ORDERS AND OTHER MEASURES AROUND PUBLIC GATHERINGS AND BUSINESS OPERATIONS TO SLOW THE SPREAD OF THE VIRUS. FURTHERMORE, COLLEGES AND UNIVERSITIES ACROSS THE COUNTRY, INCLUDING ASHLAND UNIVERSITY, TOOK UNPRECEDENTED ACTION TO PROTECT THE HEALTH AND SAFETY OF STUDENTS. BEGINNING ON MARCH 16, 2020, CAMPUS OPERATIONS WERE SUSPENDED AND ALL STUDENTS WERE TRANSITIONED TO A DISTANCE EDUCATION FRAMEWORK THROUGH THE END OF THE ACADEMIC TERM. IN ADDITION, ALL SUMMER CLASSES WERE CONDUCTED THROUGH DISTANCE EDUCATION AND ALL SUMMER CONFERENCES AND EVENTS HAVE BEEN CANCELLED OR POSTPONED. THE UNIVERSITY REFUNDED APPROXIMATELY $3,100,000 OF ROOM AND BOARD AUXILIARY ENTERPRISE REVENUE AS A RESULT OF THESE MEASURES. GIVEN THE UNCERTAINTY IN THE EPIDEMIOLOGICAL AND ECONOMIC OUTLOOK, THERE MAY BE SHORT AND LONG-TERM IMPLICATIONS FOR THE UNIVERSITY'S INSTRUCTION, STUDENT EXPERIENCE AND OPERATIONS. THE DURATION OF THESE UNCERTAINTIES AND THE ULTIMATE FINANCIAL EFFECTS CANNOT BE REASONABLY ESTIMATED AT THE DATE OF THE ISSUANCE OF THESE FINANCIAL STATEMENTS.

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