November 9, 2011

To: The Cooper Union Community

From: TC Westcott — Vice President, Finance and Administration

Subject: Cooper Union Finance Update

I want to update you on two items that we have been discussing with respect to the finances of Cooper Union. 

First: The Revenue and Expense chart that appeared in the November 7th memo from the trustees contained errors in the years prior to 2006. The figure from 2006 to present are correct and these errors did not affect the end result. The table below provides the updated information.

Second: As a follow up to the email regarding Cooper Union finances on November 4th, I was asked about the liabilities of the institution. The chart below illustrates the institution’s liabilities and net assets.

The charts originally issued on November 4th are provided below for reference.

Second: As a follow up to the email regarding Cooper Union finances on November 4th, I was asked about the liabilities of the institution. The chart below illustrates the institution’s liabilities and net assets.

The charts originally issued on November 4th are provided below for reference.