National American University (NAUH) 10-K 7 Aug 15 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	Jul. 31, 2015	Nov. 30, 2014
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	May 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	NAUH
Entity Registrant Name	National American University Holdings, Inc.
Entity Central Index Key	1,399,855
Current Fiscal Year End Date	--05-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		25,193,733
Entity Public Float			$ 33,700

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May. 31, 2015	May. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 23,300	$ 4,154
Available for sale investments	4,102	15,435
Student receivables - net of allowance of $1,583 and $1,026 at May 31, 2015 and May 31, 2014, respectively	14,358	16,532
Other receivables	1,195	291
Deferred income taxes	2,335	1,688
Prepaid and other current assets	2,151	2,180
Total current assets	47,441	40,280
Total property and equipment - net	36,390	43,258
OTHER ASSETS:
Condominium inventory	385	744
Land held for future development	312	312
Course development - net of accumulated amortization of $2,760 and $2,421 at May 31, 2015 and May 31, 2014, respectively	804	1,000
Note receivable - tenant improvements	0	1,308
Deposit on property and equipment	0	200
Other	1,212	1,355
Total other assets	2,713	4,919
TOTAL	86,544	88,457
CURRENT LIABILITIES:
Current portion of capital lease payable	244	206
Accounts payable	3,246	3,411
Dividends payable	1,139	1,134
Income taxes payable	1	1,158
Deferred income	1,459	1,310
Accrued and other liabilities	6,746	7,347
Total current liabilities	12,835	14,566
DEFERRED INCOME TAXES	3,283	4,168
OTHER LONG-TERM LIABILITIES	6,047	6,431
CAPITAL LEASE PAYABLE, NET OF CURRENT PORTION	11,853	12,097
STOCKHOLDERS' EQUITY:
Common stock, $0.0001 par value (50,000,000 authorized; 28,262,241 issued and 25,191,414 outstanding as of May 31, 2015; 28,177,827 issued and 25,117,454 outstanding as of May 31, 2014)	3	3
Additional paid-in capital	58,336	59,191
Retained earnings	13,751	11,573
Treasury stock, at cost (3,070,827 shares at May 31, 2015 and 3,060,373 at May 31, 2014)	(19,455)	(19,423)
Accumulated other comprehensive loss, net of taxes - unrealized loss on available for sale securities	(1)	(3)
Total National American University Holdings, Inc. stockholders' equity	52,634	51,341
Non-controlling interest	(108)	(146)
Total stockholders' equity	52,526	51,195
TOTAL	$ 86,544	$ 88,457

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	May. 31, 2015	May. 31, 2014
Statement of Financial Position [Abstract]
Allowance for student receivables	$ 1,583	$ 1,026
Accumulated amortization of course development	$ 2,760	$ 2,421
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	28,262,241	28,177,827
Common stock, shares outstanding	25,191,414	25,117,454
Treasury stock, shares	3,070,827	3,060,373

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
REVENUE:
Academic revenue	$ 108,360	$ 117,099	$ 117,609
Auxiliary revenue	7,920	9,076	10,259
Rental income - apartments	1,164	1,138	1,098
Condominium sales	447	440	210
Total revenue	117,891	127,753	129,176
OPERATING EXPENSES:
Cost of educational services	28,551	29,478	29,188
Selling, general and administrative	73,301	85,286	82,906
Auxiliary expense	5,629	6,236	6,780
Cost of condominium sales	368	386	192
(Gain) loss on disposition of property	(1,710)	(211)	100
Total operating expenses	106,139	121,500	119,166
OPERATING INCOME	11,752	6,253	10,010
OTHER INCOME (EXPENSE):
Interest income	148	142	111
Interest expense	(891)	(770)	(1,044)
Other income - net	178	149	107
Total other expense	(565)	(479)	(826)
INCOME BEFORE INCOME TAXES	11,187	5,774	9,184
INCOME TAX EXPENSE	(4,433)	(2,306)	(3,698)
NET INCOME	6,754	3,468	5,486
NET (INCOME) LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST	(38)	17	(40)
NET INCOME ATTRIBUTABLE TO NATIONAL AMERICAN UNIVERSITY HOLDINGS, INC. AND SUBSIDIARIES	6,716	3,485	5,446
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX
Unrealized gains (losses) on investments, net of tax (expense) benefit of $(2), $1, and $19 for 2015, 2014 and 2013, respectively	2	(10)	(31)
Reclassification to earnings of realized losses included in other income-net, net of tax of $0, $0 and $(8) for 2015, 2014 and 2013, respectively	0	0	13
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX	2	(10)	(18)
COMPREHENSIVE INCOME ATTRIBUTABLE TO NATIONAL AMERICAN UNIVERSITY HOLDINGS, INC.	$ 6,718	$ 3,475	$ 5,428
Basic net earnings per share attributable to National American University Holdings, Inc.	$ 0.27	$ 0.14	$ 0.21
Diluted net earnings per share attributable to National American University Holdings, Inc.	$ 0.27	$ 0.14	$ 0.21
Basic weighted average shares outstanding	25,160,729	25,093,096	25,556,391
Diluted weighted average shares outstanding	25,165,732	25,094,361	25,561,468

CONSOLIDATED STATEMENTS OF INC5

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Income Statement [Abstract]
Unrealized losses on investments,tax	$ 2	$ (1)	$ (19)
Reclassification to earnings of realized losses included in other income-net,tax	$ 0	$ 0	$ (8)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common stock	Additional paid-in capital	Retained earnings	Treasury Stock	Accumulated other comprehensive income (loss)	Non-controlling interest	Total
Balance at May. 31, 2012	$ 3	$ 57,203	$ 11,239	$ (17,589)	$ 25	$ (169)	$ 50,712
Purchase of shares common stock for the treasury	0	0	0	(1,770)	0	0	(1,770)
Share based compensation expense	0	453	0	0	0	0	453
Dividends declared	0	0	(4,075)	0	0	0	(4,075)
Net income	0	0	5,446	0	0	40	5,486
Other comprehensive loss, net of tax	0	0	0	0	(18)	0	(18)
Balance at May. 31, 2013	3	57,656	12,610	(19,359)	7	(129)	50,788
Purchase of shares common stock for the treasury	0	0	0	(64)	0	0	(64)
Share based compensation expense	0	1,535	0	0	0	0	1,535
Dividends declared	0	0	(4,522)	0	0	0	(4,522)
Net income	0	0	3,485	0	0	(17)	3,468
Other comprehensive loss, net of tax	0	0	0	0	(10)	0	(10)
Balance at May. 31, 2014	3	53,191	11,573	(19,423)	(3)	(146)	51,195
Purchase of shares common stock for the treasury	0	0	0	(32)	0	0	(32)
Share based compensation expense	0	(855)	0	0	0	0	(855)
Dividends declared	0	0	(4,538)	0	0	0	(4,538)
Net income	0	0	6,716	0	0	38	6,754
Other comprehensive loss, net of tax	0	0	0	0	2	0	2
Balance at May. 31, 2015	$ 3	$ 58,336	$ 13,751	$ (19,455)	$ (1)	$ (108)	$ 52,526

CONSOLIDATED STATEMENTS OF STO7

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Statement of Stockholders' Equity [Abstract]
Number of common shares for treasury	10,454	17,190	559,416
Dividends declared, per share	$ 0.045	$ 0.045	$ 0.040

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 6,754	$ 3,468	$ 5,486
Adjustments to reconcile net income to net cash flows provided by (used in) operating activities:
Depreciation and amortization	6,127	6,356	5,650
(Gain) loss on disposition of property and equipment	(1,710)	(211)	100
Realized loss on available for sale investments	0	0	21
Provision for uncollectable tuition	5,602	3,879	4,479
Noncash compensation expense	(855)	1,535	453
Deferred income taxes	(1,534)	(1,881)	1,194
Changes in assets and liabilities:
Accounts and other receivables	(4,332)	(16,383)	(5,659)
Student notes	(19)	66	(87)
Bookstore inventory	0	0	6
Condominium inventory	367	382	30
Prepaid and other current assets	(53)	(1,257)	(228)
Accounts payable	230	(1,839)	1,112
Deferred income	149	146	(41)
Other long-term liabilities	(384)	(48)	2,318
Income tax receivable/payable	(1,157)	1,280	852
Accrued and other liabilities	(337)	92	249
Net cash flows provided by (used in) operating activities	8,848	(4,090)	15,935
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of available for sale investments	(50,141)	(36,980)	(39,927)
Proceeds from sale of available for sale investments	61,478	42,277	34,046
Purchases of property and equipment	(1,311)	(4,532)	(8,647)
Proceeds from sale of property and equipment	3,628	503	21
Course development	(143)	(247)	(217)
Payment of deposit on property and equipment	0	(200)	0
Payments received on contract for deed	160	296	1
Payments received on note receivable	1,390	641	0
Other	8	(31)	(19)
Net cash flows provided by (used in) investing activities	15,069	1,727	(14,742)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of capital lease payable	(206)	(157)	(40)
Purchase of treasury stock	(32)	(64)	(1,770)
Dividends paid	(4,533)	(4,392)	(3,911)
Net cash flows used in financing activities	(4,771)	(4,613)	(5,721)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	19,146	(6,976)	(4,528)
CASH AND CASH EQUIVALENTS - Beginning of year	4,154	11,130	15,658
CASH AND CASH EQUIVALENTS - End of year	23,300	4,154	11,130
SUPPLEMENTAL DISCLOSURE OF CASH FLOW AND NON-CASH INFORMATION:
Cash paid for income taxes	7,124	2,907	1,653
Cash paid for interest	$ 885	787	$ 1,045
Tenant improvements on capital lease financed through note receivable		$ 2,000
Condominium inventory sold under contract for deed			$ 162
Property and equipment purchases included in accounts payable	$ 24	$ 419	670
Dividends declared at May 31, 2015, 2014 and 2013	$ 1,139	$ 1,134	$ 1,004

STATEMENT PRESENTATION AND BASI

STATEMENT PRESENTATION AND BASIS OF CONSOLIDATION	12 Months Ended
	May. 31, 2015
Accounting Policies [Abstract]
STATEMENT PRESENTATION AND BASIS OF CONSOLIDATION	The accompanying financial statements are presented on a consolidated basis. The accompanying financial statements include the accounts of National American University Holdings, Inc. (the “Company”), its subsidiary, Dlorah, Inc. (“Dlorah”), and its divisions, National American University (“NAU” or the “University”), Fairway Hills, the Fairway Hills Park and Recreational Association, the Park West Owners’ Association, the Vista Park Owners’ Association, and the Company’s interest in Fairway Hills Section III Partnership (the “Partnership”). The Partnership is 50% owned by Dlorah and 50% owned by individual family members, most of whom are either direct or indirect stockholders of the Company. The Partnership is deemed to be a variable interest entity (“VIE”) under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810-10, Consolidation. The Company has determined that the Partnership qualifies as a VIE and that the Company is the primary beneficiary of the Partnership. Accordingly, the Company consolidated assets, liabilities, and net income of the Partnership within its consolidated balance sheets and statements of income and comprehensive income and appropriately presented the balances as non-controlling interest within the consolidated balance sheet. As of May 31, 2015 and 2014, the consolidated balance sheets include Partnership assets of $685 and $774, respectively, and Partnership liabilities of $94 and $101, respectively. The consolidated statements of income and comprehensive income include Partnership net income (loss) of $75, $(34), and $79, for the years ended May 31, 2015, 2014, and 2013, respectively. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Throughout the Notes to consolidated financial statements, amounts in tables are in thousands of dollars, except for per share data as otherwise designated. The Company’s fiscal year end is May 31. These financial statements include consideration of subsequent events through issuance. All intercompany transactions and balances have been eliminated in consolidation. Unless the context otherwise requires, the terms “we”, “us”, “our” and the “Company” used throughout this document refer to National American University Holdings, Inc. and its wholly owned subsidiary, Dlorah, Inc., which owns and operates National American University, sometimes referred to as “NAU” or the “University”. Estimates

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	May. 31, 2015
Accounting Policies [Abstract]
NATURE OF OPERATIONS	National American University Holdings, Inc., formerly known as Camden Learning Corporation, was incorporated in the State of Delaware on April 10, 2007. On November 23, 2009, Dlorah, Inc., a South Dakota corporation (“Dlorah”), became a wholly-owned subsidiary of the Company pursuant to an Agreement and Plan of Reorganization between the Company and Dlorah. The Company’s common stock is listed as NAUH on the NASDAQ Global Market. The Company, through Dlorah, owns and operates National American University. NAU is a regionally accredited, proprietary, multi-campus institution of higher learning, offering associate, bachelors, masters and doctoral degree programs in business-related disciplines, such as accounting, management, business administration and information technology, and in healthcare-related disciplines, such as nursing and healthcare management. In addition, in August 2013, NAU was approved by the Higher Learning Commission to offer an Education Doctorate (Ed.D) in Community College Leadership, which is offered in Austin, Texas. Courses are offered through educational sites and online. Operations include educational sites located in Colorado, Indiana, Kansas, Minnesota, Missouri, Nebraska, New Mexico, Oklahoma, Oregon, South Dakota, and Texas; a distance learning service center in Texas; and distance learning operations and central administration offices in Rapid City, South Dakota. A substantial portion of NAU’s academic income is dependent upon federal student financial aid programs, employer tuition assistance, and contracts to provide online course development, hosting and technical assistance to other educational institutions. To maintain eligibility for financial aid programs, NAU must comply with U.S. Department of Education requirements, including the maintenance of certain financial ratios. The Company, through Dlorah’s Fairway Hills real estate division, also manages apartment units and develops and sells multi-family residential real estate in Rapid City, South Dakota. Approximately 92%, 92% and 91% of the Company’s total revenues for the years ended May 31, 2015, 2014, and 2013, respectively, were derived from NAU’s academic revenue.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	May. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Cash and Cash Equivalents Investments The Company’s investments were comprised of the following at May 31: 2015 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Amortized Holding Holding Fair Amortized Holding Holding Fair Cost Gains Losses Value Cost Gains Losses Value U.S. Treasury debt securities $ - $ - $ - $ - $ 11,995 $ - $ - $ 11,995 Certificates of deposit 4,102 - - 4,102 3,445 1 (6) 3,440 Total $ 4,102 $ - $ - $ 4,102 $ 15,440 $ 1 $ (6) $ 15,435 As of May 31, 2015, the Company’s investments all mature in less than one year. Declines in the fair value of individual securities classified as available-for-sale below their amortized cost that are determined to be other than temporary result in write-downs of the individual securities to their fair value, with the resulting write-downs included in current earnings as realized losses. Unrealized losses that may occur are generally due to changes in interest rates and, as such, are considered by the Company to be temporary. Management evaluates securities for other-than-temporary impairment on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investments in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Student Receivables Other Receivables Note Receivable Interest income is recognized over the term of the note and is calculated using the simple-interest method at a rate of 6% on principal balances outstanding. Interest income was recognized only to the extent cash payments were received. The note receivable was paid in full during the year ended May 31, 2015 (see note 9). Property and Equipment Years Buildings and building improvements 19–40 Land improvements 10–20 Furniture, vehicles, and equipment 5–15 For tax purposes, depreciation is computed using the straight-line and accelerated methods. Property and equipment — net consists of the following as of May 31: 2015 2014 Land $ 119 $ 565 Land improvements 23 374 Buildings and building improvements 40,718 45,778 Furniture, vehicles, and equipment 28,171 28,293 Total gross property and equipment 69,031 75,010 Less accumulated depreciation (32,641) (31,752) Total net property and equipment $ 36,390 $ 43,258 Capitalized Course Development Costs The Company capitalizes course development costs. Costs that qualify for capitalization are external direct costs, payroll, and payroll-related costs. Costs related to general and administrative functions are not capitalizable and are expensed as incurred. Capitalization ends at such time that the course and/or material is available for general use by faculty and students. After becoming available for general use, the costs are amortized on a course-by-course basis over a period of three to five years. After the amortization period commences, the cost of maintenance and support is expensed as incurred. If it is determined that the curriculum will not be used, the capitalized curriculum costs are written off and expensed in the period of this determination. Condominium Inventory Impairment of Long-Lived Assets Deferred Income Taxes Non-Controlling Interest Leases Academic Revenue Recognition , Auxiliary Revenue Rental Income Rental Expense Advertising

RECENTLY ADOPTED AND NEW ACCOUN

RECENTLY ADOPTED AND NEW ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	May. 31, 2015
Accounting Changes and Error Corrections [Abstract]
RECENTLY ADOPTED AND NEW ACCOUNTING PRONOUNCEMENTS	In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606) In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In February 2015, the FASB issued ASU No. 2015-02, Amendments to the Consolidation Analysis

DEPARTMENT OF EDUCATION REQUIRE

DEPARTMENT OF EDUCATION REQUIREMENTS	12 Months Ended
	May. 31, 2015
Text Block [Abstract]
DEPARTMENT OF EDUCATION REQUIREMENTS	The University extends unsecured credit to a portion of the students who are enrolled throughout the campuses for tuition and other educational costs. A substantial portion of credit extended to students is repaid through the students’ participation in various federal financial aid programs authorized by Title IV Higher Education Act of 1965, as amended (the “Higher Education Act”). The University is required under 34 CFR 600.5(d) to maintain at least 10% of its revenues (calculated on a cash basis) from non-Title IV program funds, commonly referred to as the “90/10 Rule”. An institution is subject to loss of eligibility to participate in Title IV programs if it fails to meet the 10% threshold for two consecutive fiscal years. If we were to violate the 90/10 Rule, we would become ineligible to participate in Title IV programs as of the first day of the fiscal year following the second consecutive fiscal year in which we exceeded the 90% Title IV program funds threshold and would be unable to regain eligibility for two fiscal years thereafter. The University believes they are in compliance with this requirement for the years ended May 31, 2015, 2014 and 2013, as shown in the underlying calculation: 2015 2014 2013 Title IV HEA funds received $ 106,305 $ 107,333 $ 104,763 Academic revenue $ 119,200 =89.18% $ 120,169 =89.32% $ 116,745 =89.74% (cash basis) To participate in Title IV Programs, a school must be authorized to offer its programs of instruction by relevant state education agencies, be accredited by an accrediting commission recognized by the U.S. Department of Education (the “Department of Education”), and be certified as an eligible institution by the Department of Education. For this reason, educational institutions are subject to extensive regulatory requirements imposed by all of these entities. After an educational institution receives the required certifications by the appropriate entities, the educational institution must demonstrate compliance with the Department of Education’s regulations pertaining to Title IV Programs on an ongoing basis. Included in these regulations is the requirement that the Company must satisfy specific standards of financial responsibility. The Department of Education evaluates educational institutions for compliance with these standards each year, based upon an educational institution’s annual audited financial statements, as well as following any changes in ownership. Under regulations which took effect July 1, 1998, the Department of Education calculates an educational institution’s composite score for financial responsibility based on its (i) equity ratio, which measures the educational institution’s capital resources, ability to borrow and financial viability; (ii) primary reserve ratio, which measures the educational institution’s ability to support current operations from expendable resources; and (iii) net income ratio, which measures the educational institution’s ability to operate at a profit. This composite score can range from -1 to +3. An educational institution that does not meet the Department of Education’s minimum composite score requirements of 1.5 may establish its financial responsibility by posting a letter of credit or complying with additional monitoring procedures as defined by the Department of Education. Based on the consolidated financial statements for the 2015, 2014 and 2013 fiscal years, the University’s calculations result in a composite score of 3.0, 2.3, and 2.4, respectively. Therefore the University currently meets the minimum composite score requirement as most recently required by the Department of Education. The University’s current certification to participate in the Title IV programs, which is not provisional, was effective in June 2013 and extends through March 31, 2019.

CONDOMINIUM PROJECT

CONDOMINIUM PROJECT	12 Months Ended
	May. 31, 2015
Text Block [Abstract]
CONDOMINIUM PROJECT	The Company built 24 condominium units to be sold to the general public. These condominium units are accounted for within condominium inventory within the consolidated balance sheets, and the sales of the condominium units are recorded within condominium sales within the consolidated statements of income and comprehensive income. Twelve units have been sold as of May 31, 2015. The unit sold in March 2013 was sold under a financing arrangement. The contract called for interest at 3% and required monthly payments of $0.9 through March 1, 2018. The contract was paid in full in November 2014. The outstanding balance of $154 at May 31, 2014, is recognized as other current assets of $6 and other long-term assets of $148 in the consolidated balance sheet.

CONTRACT FOR DEED

CONTRACT FOR DEED	12 Months Ended
	May. 31, 2015
Contractors [Abstract]
CONTRACT FOR DEED	The Company signed a contract for deed on its former Rapid City campus located at 321 Kansas City Street on March 28, 2013 for $4,000 (see Note 9 for capital lease on new campus). The sale did not meet the accounting requirements to be considered consummated because the buyer’s initial and continuing investment was not adequate in accordance with ASC 360-20-40, and the note receivable was not supported by specific evidence of collectability. As such, at May 31, 2014 the property remained on the consolidated balance sheet and continued to be depreciated because the asset had not met the held for sale criteria, the note receivable was not recorded, and interest income was recognized as received. On July 11, 2014 the contract for deed was settled. The Company collected the outstanding proceeds, which included $3,230 principal and $85 of interest that was offset by $59 of lease-back payments and maintenance expenses related to the long-term operating lease. All remaining liens on the property were released and deemed sold, resulting in a gain of $1,743. Rent payments will be made directly to the lessor now that the contract for deed is paid in full.

LINES OF CREDIT

LINES OF CREDIT	12 Months Ended
	May. 31, 2015
Debt Disclosure [Abstract]
LINES OF CREDIT	The University maintains a $3,000 unsecured revolving line of credit with Great Western Bank that is subject to annual renewals and currently matures on May 31, 2016. Advances under the line bear interest at prime (3.25% at May 31, 2015). No advances had been made on this line of credit in 2013, 2014 or 2015.

LEASES

LEASES	12 Months Ended
	May. 31, 2015
Leases [Abstract]
LEASES	The University leases building facilities for branch operations and equipment for classroom operations under operating leases with various terms and conditions. Total rent expense for the years ended May 31, 2015, 2014, and 2013, was $6,037, $6,025, and $5,429, respectively. Future minimum lease payments on non-cancelable operating leases for the five years ending May 31 and thereafter are as follows: 2016 $ 5,915 2017 5,640 2018 5,629 2019 5,490 2020 5,066 Thereafter 13,090 As part of ongoing operations, the Company entered into a capital lease arrangement for additional space that houses the corporate headquarters, distance learning operations, and the new Rapid City campus operations (see Note 7). During the year ended May 31, 2014, the Company increased its capital lease obligation by $2,000 to account for tenant improvements. The Company initially paid for the improvements and reached an agreement with the lessor to be reimbursed for the amount under the terms of a $2,000 note receivable. The note receivable required monthly payments of $14 at 6% that directly offset the monthly payments to the lessor under the capital lease obligation. On June 30, 2014, the landlord of the property paid the $1,373 remaining balance of the note receivable and the balance is now paid in full. The Company is obligated to make future payments under the capital lease obligation, which totaled $21.4 million, had a net present value of $12.1 million as of May 31, 2015, and was recognized as current and non-current capital lease payable of $244 and $11,853 at May 31, 2015 and $206 and $12,097 at May 31, 2014, respectively. The asset totals $10,600, and accumulated depreciation totals $1,899 and $1,369 at May 31, 2015 and 2014, respectively. The net amount is included in net property and equipment in the consolidated balance sheets. The following is a schedule of future minimum commitments under the revised capital lease obligation as of May 31, 2015: 2016 $ 1,115 2017 1,137 2018 1,159 2019 1,183 2020 1,207 Thereafter 15,602 Total future minimum lease obligation $ 21,403 Less: Imputed interest on capital leases (9,306) Net present value of lease obligations $ 12,097

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	May. 31, 2015
Equity [Abstract]
STOCKHOLDERS' EQUITY	The authorized capital stock for the Company is 51,100,000 shares, consisting of (i) 50,000,000 shares of common stock, par value $0.0001 and (ii) 1,000,000 shares of preferred stock, par value $0.0001, and (iii) 100,000 shares of class A common stock, par value $0.0001. Of the authorized shares, 25,191,414 and 25,117,454 shares of common stock were outstanding as of May 31, 2015 and 2014, respectively. No shares of preferred stock were outstanding at May 31, 2015 and 2014. During the years ended May 31, 2015 and 2014, respectively, $32 and $64 of additions to treasury stock resulted from the settlement of stock-based compensation. Stock-Based Compensation In December 2009, the Company adopted the 2009 Stock Option and Compensation Plan (the “Plan”) pursuant to which the Company may grant restricted stock awards, restricted stock units and stock options to aid in recruiting and retaining employees, officers, directors and other consultants. Restricted stock awards accrue dividends that are paid when the shares vest. Restricted stock unit awards do not accrue dividends prior to vesting. Grants are issued at prices determined by the compensation committee, generally equal to the closing price of the stock on the date of the grant, vest over various terms (generally three years), and expire ten years from the date of the grant. The Plan allows vesting based upon performance criteria. Certain option and share awards provide for accelerated vesting if there is a change in control of the Company (as defined in the Plan). The fair value of stock options granted is calculated using the Black-Scholes option pricing model. Share options issued under the Plan may be incentive stock options or nonqualified stock options. At May 31, 2015, all stock options issued have been nonqualified stock options. A total of 1,300,000 shares were authorized by the Plan. Shares forfeited or canceled are eligible for reissuance under the Plan. At May 31, 2015, 712,730 shares of common stock remain available for issuance under the Plan. In April 2013, the Company’s Board of Directors recommended shareholder approval, and approval was obtained at the October 2013 Shareholder Meeting, to establish the 2013 Restricted Stock Unit Plan (the “2013 Plan”) authorizing the issuance of up to 750,000 shares of the Company’s stock to participants in the 2013 Plan. The Company may grant restricted stock awards or restricted stock units to aid in recruiting and retaining employees, officers, directors and other consultants. Restricted stock awards accrue dividends that are paid when the shares vest. Restricted stock unit awards do not accrue dividends prior to vesting. Restricted stock grants are issued at prices determined by the compensation committee, generally equal to the closing price of the stock on the date of the grant and vest over various terms. Shares forfeited or canceled are eligible for reissuance under the Plan. At May 31, 2015, 750,000 shares of common stock remain available for issuance under the 2013 Plan. Restricted stock The fair value of restricted stock awards was calculated using the Company’s stock price as of the associated grant date, and the expense is accrued ratably over the vesting period of the award. During the quarter ended August 31, 2013, the Company issued 750,000 restricted stock units (“RSUs”) with performance based vesting under the 2013 Plan. The number of shares to be earned was determined by the Company’s profitability and other operating metrics during the year ending May 31, 2015. 446,500 RSUs were issued with a grant date of June 1, 2013 and a grant date fair value of $3.78 per share. The total fair value of these RSU’s was to be amortized over the two year service period. The remaining 303,500 RSUs were issued with a grant date of June 1, 2013 to certain holders of time based vesting stock options who surrendered a like number of stock options in exchange. This grant was accounted for as a modification of the original option awards. The incremental fair value at the time of the exchange of $890, calculated using the restricted stock unit grant date fair value of $3.78 per share, plus the remaining unamortized fair value associated with the options surrendered of $420, was to be amortized over the two year service period of the RSUs. During the year ended May 31, 2014, 170,000 RSUs granted under the 2013 Plan were cancelled. During the year ended May 31, 2015, the remaining 580,000 RSUs granted under the 2013 Plan were cancelled and the related compensation expense previously recorded of $1,170 was reversed as the performance criteria was not attained. During the year ended May 31, 2015, the Company awarded 42,155 restricted stock awards with time based vesting at a grant date fair value of $3.11 per share to members of the board of directors. Shares vest one year from the grant date and require board service for the entire year. During the year ended May 31, 2014, the Company awarded 30,729 restricted stock awards with time based vesting at a grant date fair value of $3.54 per share to members of the board of directors. Shares vest one year from the grant date and require board service for the entire year. Compensation expenses associated with restricted stock awards and restricted stock unit awards, respectively, totaled $122 and a reversal of $1,170 for the year ended May 31, 2015, $82 and $1,170 for the year ended May 31, 2014, and $48 and $55 for the year ended May 31, 2013. At May 31, 2015, unamortized compensation cost of restricted stock and restricted stock unit awards totaled $51. The unamortized cost is expected to be recognized over a weighted-average period of 0.4 years as of May 31, 2015. A summary of restricted shares activity as of May 31, 2015 and 2014, and changes during the years then ended is presented below: Restricted Shares Shares Weighted Average Grant Date Fair Value Non-vested shares at May 31, 2013 13,442 $ 4.46 Granted 477,229 3.76 Modified 303,500 4.31 Vested (16,001 ) 4.30 Forfeited (170,000 ) 3.87 Non-vested shares at May 31, 2014 608,170 $ 4.01 Granted 42,155 3.11 Vested (28,170 ) 3.55 Forfeited (580,000 ) 4.03 Non-vested shares at May 31, 2015 42,155 $ 3.11 Stock options The Company accounts for stock option-based compensation by estimating the fair value of options granted using a Black-Scholes option valuation model. The Company recognizes the expense for grants of stock options on a straight-line basis in the consolidated statements of income and comprehensive income as selling, general and administrative expense based on their fair value over the requisite service period. For stock options issued during the years ended May 31, 2015 and 2014, the following assumptions were used to determine fair value: Assumptions used: 2015 2014 Expected term (in years) 5.50 5.75 Expected volatility 51.40 % 56.14 % Weighted average risk free interest rate 1.52 % 1.92 % Weighted average risk free interest rate range 1.52-1.52 % 1.90-1.96 % Weighted average expected dividend 5.79 % 4.97 % Weighted average expected dividend range 5.79-5.79 % 4.91-5.06 % Weighted average fair value $ 0.88 $ 1.24 Expected volatilities are based on historic volatilities from the traded shares of NAUH. The expected term of options granted is the safe harbor period. The risk-free interest rate for periods matching the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Expected dividend is based on the historic dividend of the Company. A summary of option activity under the Plan as of May 31, 2015 and 2014, and changes during the years then ended is presented below: Stock Options Shares Weighted average exercise price Weighted average remaining contractual life (in years) Aggregate intrinsic value Outstanding at May 31, 2013 368,000 $ 7.67 8.4 Granted 25,000 3.63 Exercised 0 0 Modified (303,500 ) 7.46 Forfeited or canceled (13,750 ) 7.80 Outstanding at May 31, 2014 75,750 $ 7.17 7.6 $ 0 Exercisable at May 31, 2014 49,500 $ 9.02 6.5 $ 0 Outstanding at May 31, 2014 75,750 $ 7.17 Granted 12,500 3.11 Exercised 0 0 Forfeited or canceled (9,500 ) 8.70 Outstanding at May 31, 2015 78,750 $ 6.34 7.1 $ 0 Exercisable at May 31, 2015 66,250 $ 6.85 6.8 $ 0 The Company recorded compensation expense for stock options of $27, $22 and $275 for the years ended May 31, 2015, 2014 and 2013, respectively, in the consolidated statements of operations. As of May 31, 2015, there was no unrecognized compensation cost related to unvested stock option based compensation arrangements granted under the Plan. The Company plans to issue new shares as settlement of options exercised. There were no options exercised during the years ended May 31, 2015 or 2014. On May 31, 2013, 303,500 options with a weighted average exercise price of $7.46 were surrendered and canceled in exchange for restricted stock units with a grant date of June 1, 2013. Dividends The following table presents details of the Company’s fiscal 2015, 2014 and 2013 dividend payments: Date declared Record date Payment date Per share April 30, 2012 June 30, 2012 July 9, 2012 $ 0.0325 August 27, 2012 September 30, 2012 October 5, 2012 $ 0.0400 October 29, 2012 December 14, 2012 December 28, 2012 $ 0.0400 January 28, 2013 March 29, 2013 April 12, 2013 $ 0.0400 April 29, 2013 June 28, 2013 July 12, 2013 $ 0.0400 August 26, 2013 September 30, 2013 October 11, 2013 $ 0.0450 October 28, 2013 December 30, 2013 January 10, 2014 $ 0.0450 January 25, 2014 March 28, 2014 April 11, 2014 $ 0.0450 April 7, 2014 June 30, 2014 July 11, 2014 $ 0.0450 August 11, 2014 September 30, 2014 October 10, 2014 $ 0.0450 October 6, 2014 December 31, 2014 January 16, 2015 $ 0.0450 January 24, 2015 March 31, 2015 April 17, 2015 $ 0.0450 April 13, 2015 June 30, 2015 July 10, 2015 $ 0.0450

EMPLOYEE COMPENSATION PLANS

EMPLOYEE COMPENSATION PLANS	12 Months Ended
	May. 31, 2015
Postemployment Benefits [Abstract]
EMPLOYEE COMPENSATION PLANS	Employee Benefit Plan Payable Compensation Plans On May 21, 2012, the Company approved a Senior Executive Level Officer Compensation Plan, in connection with establishing the overall compensation levels for the executive management team of the Company for the 2013 fiscal year. Each compensation plan has a base salary component, quarterly achievement award component and an annual achievement award component as defined in the agreements. A similar Named Executive Officer Compensation Plan was announced on April 29, 2013 for the 2014 fiscal year and on April 7, 2014 for the 2015 fiscal year.

SELF-INSURED HEALTH INSURANCE

SELF-INSURED HEALTH INSURANCE	12 Months Ended
	May. 31, 2015
Text Block [Abstract]
SELF-INSURED HEALTH INSURANCE	The Company maintains a self-insured health insurance plan for employees. Under this plan, the Company pays a monthly fee to its administrator, as well as claims submitted by its participants. As there generally is a lag between the time a claim is incurred by a participant and the time the claim is submitted, the Company has recorded a liability for outstanding claims of $340 and $641 at May 31, 2015 and 2014, respectively. Such liability is reported with accrued and other liabilities in the consolidated balance sheets.

INCOME TAXES

INCOME TAXES	12 Months Ended
	May. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	Components of the provision for income taxes for the years ended May 31, 2015, 2014 and 2013, were as follows: 2015 2014 2013 Current tax expense: Federal $ 5,216 $ 3,678 $ 2,053 State 751 509 451 5,967 4,187 2,504 Deferred tax expense: Federal (1,396) (1,740) 1,105 State (138) (141) 89 (1,534) (1,881) 1,194 Total tax expense $ 4,433 $ 2,306 $ 3,698 The effective tax rate varies from the statutory federal income tax rate for the following reasons: 2015 2014 2013 Statutory 34.0 % 34.0 % 34.0 % State income taxes — net of federal benefit 3.6 4.2 4.2 Permanent differences and other 2.0 1.7 2.1 Effective income tax rate 39.6 % 39.9 % 40.3 % Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred assets (liabilities) as of May 31 were as follows: 2015 2014 Deferred income tax assets: Accounts receivable allowances $ 616 $ 407 Bad debt write-offs 1,544 384 Other 130 122 Accrued salaries 717 1,440 Start up costs 276 305 Capital lease obligations 4,536 4,614 Deferred rent 2,268 2,378 Total deferred income tax assets 10,087 9,650 Deferred income tax liabilities: Fixed assets and course development (10,493) (11,587) Prepaid expenses (542) (543) Total deferred income tax liabilities (11,035) (12,130) Net deferred income tax liabilities $ (948) $ (2,480) The Company follows the guidance of ASC Topic 740, Income Taxes Accounting for Uncertainty in Income Taxes – an interpretation of FASB Statement No. 109, The Company files income tax returns in the U.S. federal jurisdiction and various states. Because of closure of an Internal Revenue Service examination, the Company is generally no longer subject to U.S. federal income tax or state and local tax examinations for years before 2012.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	May. 31, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	Basic earnings per share (“EPS”) is computed by dividing net income attributable to National American University Holdings, Inc. by the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per share reflect the potential dilution that could occur assuming vesting, conversion or exercise of all dilutive unexercised options and restricted stock. The following is a reconciliation of the numerator and denominator for the basic and diluted EPS computations: For the year ended May 31, 2015 2014 2013 Numerator: Net income attributable to National American University Holdings, Inc. $ 6,716 $ 3,485 $ 5,446 Denominator: Weighted average shares outstanding used to compute basic net income per common share 25,160,729 25,093,096 25,556,391 Incremental shares issuable upon the assumed vesting of stock options - - - Incremental shares issuable upon the assumed vesting of restricted shares 5,003 1,265 5,077 Common shares used to compute diluted net income per share 25,165,732 25,094,361 25,561,468 Basic net income per common share $ 0.27 $ 0.14 $ 0.21 Diluted net income per common share $ 0.27 $ 0.14 $ 0.21 A total of 78,750, 75,750 and 368,000 shares of common stock subject to issuance upon vesting of stock options for the years ended May 31, 2015, 2014 and 2013, respectively, have been excluded from the calculation of diluted EPS as the effect would have been anti-dilutive.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	May. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	From time to time, NAU is a party to various claims, lawsuits or other proceedings relating to the conduct of its business. Although the outcome of litigation cannot be predicted with certainty and some claims, lawsuits or other proceedings may be disposed of unfavorably, management believes, based on facts presently known, that the outcome of such legal proceedings and claims, lawsuits or other proceedings will not have a material effect on the Company’s consolidated financial position, cash flows or future results of operations. On November 21, 2014, the U.S. Department of Education notified NAU of its final audit determination with respect to the Title IV compliance audit for the period June 1, 2012 through May 31, 2013. The final audit determination asserts that NAU improperly disbursed Title IV program funds to students at the Wichita West campus location before it was approved as an additional location for Title IV program participation requirements by the Department in August 2013. This resulted in a requirement to return approximately $664 in Title IV funds and assessed interest to the Department, as it is deemed a return of previously recorded revenue. This amount was timely remitted and is shown as a direct reduction of academic revenue during the year ended May 31, 2015.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	May. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Following is a description of each category in the fair value hierarchy and the financial assets and liabilities of the Company that are included in each category at May 31, 2015 and 2014: Level 1 Level 2 – · Determining which instruments are most similar to the instrument being priced requires management to identify a sample of similar securities based on the coupon rates, maturity, issuer, credit rating and instrument type, and subjectively selecting an individual security or multiple securities that are deemed most similar to the security being priced; and · Determining whether a market is considered active requires management judgment. Level 3 – The following table summarizes certain information for assets and liabilities measured at fair value on a recurring basis: Quoted prices in active markets (level 1) Other observable inputs (level 2) Unobservable inputs (level 3) Fair value May 31, 2015 Investments CD’s and money market accounts Money market accounts included in cash equivalents US treasury bills and notes $ 244 269 - $ 3,858 - - $ - - - $ 4,102 269 - Total assets at fair value $ 513 $ 3,858 $ - $ 4,371 May 31, 2014 Investments CD’s and money market accounts Money market accounts included in cash equivalents US treasury bills and notes $ 243 910 11,995 $ 3,197 - - $ - - - $ 3,440 910 11,995 Total assets at fair value $ 13,148 $ 3,197 $ - $ 16,345 Following is a summary of the valuation techniques for assets and liabilities recorded in the consolidated condensed balance sheets at fair value on a recurring basis: CD’s and money market accounts: U.S. treasury bills and notes: Fair value of financial instruments:

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	May. 31, 2015
Segment Reporting [Abstract]
SEGMENT REPORTING	Operating segments are defined as business areas or lines of an enterprise about which financial information is available and evaluated on a regular basis by the chief operating decision makers, or decision-making groups, in deciding how to allocate capital and other resources to such lines of business. The Company operates two operating and reportable segments: NAU and other. The NAU segment contains the revenues and expenses associated with the University operations and the allocated portion of corporate overhead. The other segment contains primarily real estate. These operating segments are divisions of the Company for which separate financial information is available and evaluated regularly by executive management in deciding how to allocate resources and in assessing performance. General administrative costs of the Company are allocated to specific divisions of the Company. The following table presents the reportable segment financial information: For the year ended May 31, For the year ended May 31, For the year ended May 31, 2015 2014 2013 Consolidated Consolidated Consolidated NAU Other Total NAU Other Total NAU Other Total Revenue: Academic $ 108,360 $ - $ 108,360 $ 117,099 $ - $ 117,099 $ 117,609 $ - $ 117,609 Auxiliary 7,920 - 7,920 9,076 - 9,076 10,259 - 10,259 Rental income apartments - 1,164 1,164 - 1,138 1,138 - 1,098 1,098 Condominium sales - 447 447 - 440 440 - 210 210 Total revenue 116,280 1,611 117,891 126,175 1,578 127,753 127,868 1,308 129,176 Operating expenses: Cost of educational services 28,551 - 28,551 29,478 - 29,478 29,188 - 29,188 Selling, general & administrative 71,681 1,620 73,301 83,627 1,659 85,286 81,193 1,713 82,906 Auxiliary 5,629 - 5,629 6,236 - 6,236 6,780 - 6,780 Cost of condominium sales - 368 368 - 386 386 - 192 192 Loss (gain) ondisposition of property 114 (1,824 ) (1,710 ) 211 (97 ) 114 33 67 100 Total operating expenses 105,975 164 106,139 119,552 1,948 121,500 117,194 1,972 119,166 Income (loss)from operations 10,305 1,447 11,752 6,623 (370 ) 6,253 10,674 (664 ) 10,010 Other income (expense): Interest inc 51 97 148 54 88 142 98 13 111 Interest exp (883 ) (8 ) (891 ) (769 ) (1 ) (770 ) (1,044 ) - (1,044 ) Other income(loss) - net - 178 178 - 149 149 (22 ) 129 107 Total other (expense) income (832 ) 267 (565 ) (715 ) 236 (479 ) (968 ) 142 (826 ) Income (loss) before taxes $ 9,473 $ 1,714 $ 11,187 $ 5,908 $ (134 ) $ 5,774 $ 9,706 $ (522 ) $ 9,184 As of May 31, 2015 As of May 31, 2014 As of May 31, 2013 Consolidated Consolidated Consolidated NAU Other Total NAU Other Total NAU Other Total Total assets $ 78,042 $ 8,502 $ 86,544 $ 76,383 $ 12,074 $ 88,457 $ 75,115 $ 12,967 $ 88,082 Expenditures for long-lived assets $ 859 $ 452 $ 1,311 $ 3,094 $ 1,438 $ 4,532 $ 8,462 $ 235 $ 8,697 Depreciation & amortization $ 5,546 $ 581 $ 6,127 $ 5,765 $ 591 $ 6,356 $ 5,090 $ 560 $ 5,650

SUMMARIZED QUARTERLY FINANCIAL

SUMMARIZED QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	May. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
SUMMARIZED QUARTERLY FINANCIAL DATA (UNAUDITED)	The following table sets forth selected unaudited quarterly financial information for the last eight quarters. Quarter First Second Third Fourth Fiscal Year Ended May 31, 2015 Revenues $ 29,304 $ 30,638 $ 29,083 $ 28,866 Operating income 3,536 4,698 2,581 937 Net income 2,168 2,840 1,478 268 Net income attributable to NAUH and Subsidiaries 2,170 2,826 1,464 256 Net income per share (common): Basic 0.09 0.11 0.06 0.01 Diluted 0.09 0.11 0.06 0.01 Fiscal Year Ended May 31, 2014 Revenues $ 30,929 $ 33,182 $ 31,674 $ 31,968 Operating (loss) income (362) 2,315 1,898 2,402 Net (loss) income (366) 1,363 1,127 1,461 Net (loss) income attributable to NAUH and Subsidiaries (329) 1,362 1,117 1,335 Net (loss) income per share (common): Basic (0.01) 0.05 0.04 0.05 Diluted (0.01) 0.05 0.04 0.05

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	May. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	We evaluated subsequent events after the balance sheet date through the date the consolidated financial statements were issued. We did not identify any additional material events or transactions occurring during this subsequent event reporting period that required further recognition or disclosure in these consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	May. 31, 2015
Cash and Cash Equivalents	The Company considers all highly liquid debt instruments with original maturities of three months or less to be cash equivalents. Cash is held in bank accounts that periodically exceed insured limits; however, no losses have occurred, and the Company feels the risk of loss is not significant.
Investments	The Company’s investments consist of government-backed bonds and certificates of deposit. These securities are classified as “available-for-sale.” Available-for-sale securities represent securities carried at fair value in the consolidated balance sheets. Certain of the Company’s certificates of deposit have maturity dates greater than one year. However, these certificates of deposit can be accessed at any time and are convertible to cash on demand. As such, the Company has classified these amounts as current assets in the consolidated balance sheets. Unrealized gains and losses deemed to be temporary are reported net of taxes and included in other comprehensive income within stockholders’ equity. Realized gains and losses and declines in value deemed to be other-than-temporary on available-for-sale securities are included in other income – net in the consolidated statements of income and comprehensive income. Fair value of the securities is based upon quoted market prices in active markets or estimated fair value when quoted market prices are not available. The cost basis for realized gains and losses on available-for-sale securities is determined on a specific identification basis. During the year ended May 31, 2015, all U.S. Treasury debt securities were liquidated. Proceeds from the sale or call of investments totaled $61,478, $42,277 and $34,046 for the years ended May 31, 2015, 2014 and 2013, respectively. The net realized gains on sales of investments totaled $0, $0, and $21 for the years ended May 31, 2015, 2014 and 2013, respectively. The Company’s investments were comprised of the following at May 31: 2015 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Amortized Holding Holding Fair Amortized Holding Holding Fair Cost Gains Losses Value Cost Gains Losses Value U.S. Treasury debt securities $ - $ - $ - $ - $ 11,995 $ - $ - $ 11,995 Certificates of deposit 4,102 - - 4,102 3,445 1 (6) 3,440 Total $ 4,102 $ - $ - $ 4,102 $ 15,440 $ 1 $ (6) $ 15,435 As of May 31, 2015, the Company’s investments all mature in less than one year. Declines in the fair value of individual securities classified as available-for-sale below their amortized cost that are determined to be other than temporary result in write-downs of the individual securities to their fair value, with the resulting write-downs included in current earnings as realized losses. Unrealized losses that may occur are generally due to changes in interest rates and, as such, are considered by the Company to be temporary. Management evaluates securities for other-than-temporary impairment on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investments in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value.
Student Receivables	Student receivables are recorded at estimated net realizable value and are revised periodically based on estimated future collections. Interest and service charges are applied to all past due student receivables; however, collections are first applied to principal balances until such time that the entire principal balance has been received. Student accounts are charged off only when reasonable collection means are exhausted. The University has determined that most accounts with an outstanding balance of 180 days after the start of the term are uncollectable. Bad debt expense is included in selling, general and administrative expense on the consolidated statements of income and comprehensive income.
Other Receivables	Other receivables are institutional receivables, which are amounts due from other educational institutions to which the University provides instruction and course materials, and are stated at net realizable value.
Note Receivable	Note receivable is stated at the unpaid principal balance. Payments not received in accordance with the terms of the note agreement are considered past due. Based on current payment status and an evaluation of the borrower’s ability to make future payments, management has determined no allowance for uncollectible amounts is necessary and no impairment exists. Interest income is recognized over the term of the note and is calculated using the simple-interest method at a rate of 6% on principal balances outstanding. Interest income was recognized only to the extent cash payments were received. The note receivable was paid in full during the year ended May 31, 2015 (see note 9).
Property and Equipment	Property and equipment are stated at cost. Renewals and improvements exceeding $500 are capitalized, while repairs and maintenance are expensed when incurred. Upon the retirement, sale or disposition of assets, costs and related accumulated depreciation are eliminated from the accounts and any gain or loss is reflected in operating income. For financial statement purposes, depreciation includes the depreciation of the capital lease asset in the amount of $530 for each of the fiscal years 2015, 2014 and 2013. Total depreciation and amortization expense in operating expenses was $6,127, $6,356, and $5,650 for the fiscal years 2015, 2014, and 2013, respectively. The amortization portion of these amounts relates to capitalized course development costs and was $339, $354, and $351 for the fiscal years 2015, 2014 and 2013, respectively. Depreciation is computed using the straight-line method over the following estimated useful lives: Years Buildings and building improvements 19–40 Land improvements 10–20 Furniture, vehicles, and equipment 5–15 For tax purposes, depreciation is computed using the straight-line and accelerated methods. Property and equipment — net consists of the following as of May 31: 2015 2014 Land $ 119 $ 565 Land improvements 23 374 Buildings and building improvements 40,718 45,778 Furniture, vehicles, and equipment 28,171 28,293 Total gross property and equipment 69,031 75,010 Less accumulated depreciation (32,641) (31,752) Total net property and equipment $ 36,390 $ 43,258
Capitalized Course Development Costs	The University internally develops curriculum and electronic instructional materials for certain courses. The curriculum is primarily developed by employees and contractors. The curriculum is integral to the learning system. Customers do not acquire the curriculum or future rights to it. The Company capitalizes course development costs. Costs that qualify for capitalization are external direct costs, payroll, and payroll-related costs. Costs related to general and administrative functions are not capitalizable and are expensed as incurred. Capitalization ends at such time that the course and/or material is available for general use by faculty and students. After becoming available for general use, the costs are amortized on a course-by-course basis over a period of three to five years. After the amortization period commences, the cost of maintenance and support is expensed as incurred. If it is determined that the curriculum will not be used, the capitalized curriculum costs are written off and expensed in the period of this determination.
Condominium Inventory	Condominium inventory is stated at cost (including capitalized interest). Condominium construction costs are accumulated on a specific identification basis. Under the specific identification basis, cost of revenues includes all applicable land acquisition, land development and specific construction costs (including direct and indirect costs) of each condominium paid to third parties. Land acquisition, land development and condominium construction costs do not include employee related benefit costs. The specific construction and allocated land costs of each condominium, including models, are included in direct construction. Allocated land acquisition and development costs are estimated based on the total costs expected in a project. Direct construction also includes amounts paid through the closing date of the condominium for construction materials and contractor costs. Condominium inventory is recorded as a long term asset due to the normal operating cycle being greater than one year.
Impairment of Long-Lived Assets	Long-lived assets are reviewed for impairment when circumstances indicate the carrying value of an asset may not be recoverable. For assets that are to be held and used, an impairment loss is recognized when the estimated undiscounted cash flows associated with the asset or group of assets is less than their carrying value. If impairment exists, an adjustment is made to write the asset down to its fair value, and a loss is recorded as the difference between the carrying value and fair value. Fair values are determined based on quoted market values, discounted cash flows, or internal and external appraisals, as applicable. Assets to be held for sale are carried at the lower of carrying value or fair value, less cost to sell. The Company had no impairments in 2015, 2014, or 2013.
Deferred Income Taxes	Deferred income taxes are provided using the asset and liability method whereby deferred tax assets and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.
Non-Controlling Interest	The non-controlling interest presented on the consolidated statements of income and comprehensive income represents the individual owners’ share of the Partnership’s income or loss. The consolidated balance sheet amount “Non-controlling interest” represents the individual owners’ share of the Partnership obligations in excess of Partnership assets. The Company has determined the non-controlling owners to have a legal obligation to fund such deficits and believes it is fully collectable at May 31, 2015.
Leases	Leases in which the risk of ownership is retained by the lessor are classified as operating leases. Leases which substantially transfer all of the benefits and risks inherent in ownership to the lessee are classified as capital leases. Assets acquired under capital leases are depreciated on the same basis as owned property and equipment or the related lease term, whichever is shorter. Leasehold improvements are depreciated over the depreciable lives of the corresponding fixed asset or the related lease term, whichever is shorter.
Rental Income	Rental income is primarily obtained from tenants of three apartment complexes under short-term operating leases. Tenants are required to pay rent on a monthly basis. Rent not paid by the end of the month is considered past due, while significant amounts paid in advance are included in deferred income on the consolidated balance sheets. If a tenant becomes 60 days past due, eviction procedures are started.
Rental Expense	The University accounts for rent expense under its long-term operating leases using the straight-line method. Certain of the University’s operating leases contain rent escalator provisions. Accordingly, a $6,047 and $6,431, deferred rent and tenant improvement liability at May 31, 2015 and 2014, respectively, is recorded in other long-term liabilities on the consolidated balance sheets.
Advertising	The University follows the policy of expensing the cost of advertising as incurred. Advertising costs of $9,807, $12,077 and $12,390 for 2015, 2014 and 2013, respectively, are included in selling, general, and administrative expenses on the consolidated statements of income and comprehensive income.
Academic [Member]
Revenue	Academic revenue represents tuition revenue and the revenue generated through NAU’s teaching relationships with other non-related party institutions. Tuition revenue and affiliate revenue is recorded ratably over the length of respective courses. Academic revenue also includes certain fees and charges assessed at the start of each term. The portion of tuition and registration fees payments received but not earned is recorded as deferred income and reflected as a current liability on the consolidated balance sheets, as such amount represents revenue that the Company expects to earn within the next year. Academic revenue is reported net of adjustments for refunds and scholarships. If a student withdraws prior to the completion of the academic term, students are refunded the portion of tuition and registration fees already paid, that pursuant to the Company’s refund policy and applicable federal and state law and accrediting agency standards, the Company is not entitled to. Refunds and scholarships are recorded during the respective terms. For students that have withdrawn from all classes during an academic term ,
Auxiliary [Member]
Revenue	Auxiliary revenue represents revenues from the University’s bookstore operations. Revenue is recognized as items are sold and is recorded net of any applicable sales tax. The Company does not have book inventory because the book operation is outsourced to a third party vendor. Since the Company has the discrete ability to set book prices and maintains inventory and credit risk, we utilize gross reporting of revenue and expenses. Book sales revenue is recorded as auxiliary revenue and the related costs are recorded as auxiliary expense.

SUMMARY OF SIGNIFICANT ACCOUN29

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	May. 31, 2015
Accounting Policies [Abstract]
Investments	2015 2014 Gross Gross Gross Gross Unrealized Unrealized Unrealized Unrealized Amortized Holding Holding Fair Amortized Holding Holding Fair Cost Gains Losses Value Cost Gains Losses Value U.S. Treasury debt securities $ - $ - $ - $ - $ 11,995 $ - $ - $ 11,995 Certificates of deposit 4,102 - - 4,102 3,445 1 (6) 3,440 Total $ 4,102 $ - $ - $ 4,102 $ 15,440 $ 1 $ (6) $ 15,435
Property Plant and Equipment Useful Life	Years Buildings and building improvements 19–40 Land improvements 10–20 Furniture, vehicles, and equipment 5–15
Components of Property, Plant and Equipment, Net	2015 2014 Land $ 119 $ 565 Land improvements 23 374 Buildings and building improvements 40,718 45,778 Furniture, vehicles, and equipment 28,171 28,293 Total gross property and equipment 69,031 75,010 Less accumulated depreciation (32,641) (31,752) Total net property and equipment $ 36,390 $ 43,258

DEPARTMENT OF EDUCATION REQUI30

DEPARTMENT OF EDUCATION REQUIREMENTS (Tables)	12 Months Ended
	May. 31, 2015
Text Block [Abstract]
Revenues Source	2015 2014 2013 Title IV HEA funds received $ 106,305 $ 107,333 $ 104,763 Academic revenue $ 119,200 =89.18% $ 120,169 =89.32% $ 116,745 =89.74% (cash basis)

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	May. 31, 2015
Leases [Abstract]
Future Minimum Lease Payments on Non-cancelable Operating Leases	2016 $ 5,915 2017 5,640 2018 5,629 2019 5,490 2020 5,066 Thereafter 13,090
Schedule of Future Minimum Commitments Under Revised Capital Lease Obligation	2016 $ 1,115 2017 1,137 2018 1,159 2019 1,183 2020 1,207 Thereafter 15,602 Total future minimum lease obligation $ 21,403 Less: Imputed interest on capital leases (9,306) Net present value of lease obligations $ 12,097

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	May. 31, 2015
Equity [Abstract]
Summary of Restricted Shares Activity	Restricted Shares Shares Weighted Average Grant Date Fair Value Non-vested shares at May 31, 2013 13,442 $ 4.46 Granted 477,229 3.76 Modified Vested 303,500 (16,001) 4.31 4.30 Forfeited (170,000) 3.87 Non-vested shares at May 31, 2014 608,170 $ 4.01 Granted 42,155 3.11 Vested (28,170) 3.55 Forfeited (580,000) 4.03 Non-vested shares at May 31, 2015 42,155 $ 3.11
Summary of Stock Options Issued	Assumptions used: 2015 2014 Expected term (in years) 5.50 5.75 Expected volatility 51.40% 56.14% Weighted average risk free interest rate Weighted average risk free interest rate range 1.52% 1.52-1.52% 1.92% 1.90-1.96% Weighted average expected dividend Weighted average expected dividend range 5.79% 5.79-5.79% 4.97% 4.91-5.06% Weighted average fair value $0.88 $1.24
Summary of Option Activity	Stock Options Shares Weighted average exercise price Weighted average remaining contractual life (in years) Aggregate intrinsic value Outstanding at May 31, 2013 368,000 $7.67 8.4 Granted 25,000 3.63 Exercised 0 0 Modified (303,500) 7.46 Forfeited or canceled (13,750) 7.80 Outstanding at May 31, 2014 75,750 $7.17 7.6 $ 0 Exercisable at May 31, 2014 49,500 $9.02 6.5 $ 0 Outstanding at May 31, 2014 75,750 $7.17 Granted 12,500 3.11 Exercised 0 0 Forfeited or canceled (9,500) 8.70 Outstanding at May 31, 2015 78,750 $6.34 7.1 $ 0 Exercisable at May 31, 2015 66,250 $6.85 6.8 $ 0
Summary of Dividend Payments	Date declared Record date Payment date Per share April 30, 2012 June 30, 2012 July 9, 2012 $ 0.0325 August 27, 2012 September 30, 2012 October 5, 2012 $ 0.0400 October 29, 2012 December 14, 2012 December 28, 2012 $ 0.0400 January 28, 2013 March 29, 2013 April 12, 2013 $ 0.0400 April 29, 2013 June 28, 2013 July 12, 2013 $ 0.0400 August 26, 2013 September 30, 2013 October 11, 2013 $ 0.0450 October 28, 2013 December 30, 2013 January 10, 2014 $ 0.0450 January 25, 2014 March 28, 2014 April 11, 2014 $ 0.0450 April 7, 2014 June 30, 2014 July 11, 2014 $ 0.0450 August 11, 2014 September 30, 2014 October 10, 2014 $ 0.0450 October 6, 2014 December 31, 2014 January 16, 2015 $ 0.0450 January 24, 2015 March 31, 2015 April 17, 2015 $ 0.0450 April 13, 2015 June 30, 2015 July 10, 2015 $ 0.0450

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	May. 31, 2015
Income Tax Disclosure [Abstract]
Components of Provision for Income Taxes	2015 2014 2013 Current tax expense: Federal $ 5,216 $ 3,678 $ 2,053 State 751 509 451 5,967 4,187 2,504 Deferred tax expense: Federal (1,396) (1,740) 1,105 State (138) (141) 89 (1,534) (1,881) 1,194 Total tax expense $ 4,433 $ 2,306 $ 3,698
Summary of Effective Income Tax Rate	2015 2014 2013 Statutory 34.0 % 34.0 % 34.0 % State income taxes — net of federal benefit 3.6 4.2 4.2 Permanent differences and other 2.0 1.7 2.1 Effective income tax rate 39.6 % 39.9 % 40.3 %
Significant Components of Deferred Tax Assets and Liabilities	2015 2014 Deferred income tax assets: Accounts receivable allowances $ 616 $ 407 Bad debt write-offs 1,544 384 Other 130 122 Accrued salaries 717 1,440 Start up costs 276 305 Capital lease obligations 4,536 4,614 Deferred rent 2,268 2,378 Total deferred income tax assets 10,087 9,650 Deferred income tax liabilities: Fixed assets and course development (10,493) (11,587) Prepaid expenses (542) (543) Total deferred income tax liabilities (11,035) (12,130) Net deferred income tax liabilities $ (948) $ (2,480)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	May. 31, 2015
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator for Basic and Diluted EPS Computations	For the year ended May 31, 2015 2014 2013 Numerator: Net income attributable to National American University Holdings, Inc. $ 6,716 $ 3,485 $ 5,446 Denominator: Weighted average shares outstanding used to compute basic net income per common share 25,160,729 25,093,096 25,556,391 Incremental shares issuable upon the assumed vesting of stock options - - - Incremental shares issuable upon the assumed vesting of restricted shares 5,003 1,265 5,077 Common shares used to compute diluted net income per share 25,165,732 25,094,361 25,561,468 Basic net income per common share $ 0.27 $ 0.14 $ 0.21 Diluted net income per common share $ 0.27 $ 0.14 $ 0.21

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	May. 31, 2015
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis	Quoted prices in active markets (level 1) Other observable inputs (level 2) Unobservable inputs (level 3) Fair value May 31, 2015 Investments CD’s and money market accounts Money market accounts included in cash equivalents US treasury bills and notes $ 244 269 - $ 3,858 - - $ - - - $ 4,102 269 - Total assets at fair value $ 513 $ 3,858 $ - $ 4,371 May 31, 2014 Investments CD’s and money market accounts Money market accounts included in cash equivalents US treasury bills and notes $ 243 910 11,995 $ 3,197 - - $ - - - $ 3,440 910 11,995 Total assets at fair value $ 13,148 $ 3,197 $ - $ 16,345

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
	May. 31, 2015
Segment Reporting [Abstract]
Financial Information of Reportable Segment	For the year ended May 31, For the year ended May 31, For the year ended May 31, 2015 2014 2013 Consolidated Consolidated Consolidated NAU Other Total NAU Other Total NAU Other Total Revenue: Academic $ 108,360 $ - $ 108,360 $ 117,099 $ - $ 117,099 $ 117,609 $ - $ 117,609 Auxiliary 7,920 - 7,920 9,076 - 9,076 10,259 - 10,259 Rental income apartments - 1,164 1,164 - 1,138 1,138 - 1,098 1,098 Condominium sales - 447 447 - 440 440 - 210 210 Total revenue 116,280 1,611 117,891 126,175 1,578 127,753 127,868 1,308 129,176 Operating expenses: Cost of educational services 28,551 - 28,551 29,478 - 29,478 29,188 - 29,188 Selling, general & administrative 71,681 1,620 73,301 83,627 1,659 85,286 81,193 1,713 82,906 Auxiliary 5,629 - 5,629 6,236 - 6,236 6,780 - 6,780 Cost of condominium sales - 368 368 - 386 386 - 192 192 Loss (gain) ondisposition of property 114 (1,824 ) (1,710 ) 211 (97 ) 114 33 67 100 Total operating expenses 105,975 164 106,139 119,552 1,948 121,500 117,194 1,972 119,166 Income (loss)from operations 10,305 1,447 11,752 6,623 (370 ) 6,253 10,674 (664 ) 10,010 Other income (expense): Interest inc 51 97 148 54 88 142 98 13 111 Interest exp (883 ) (8 ) (891 ) (769 ) (1 ) (770 ) (1,044 ) - (1,044 ) Other income(loss) - net - 178 178 - 149 149 (22 ) 129 107 Total other (expense) income (832 ) 267 (565 ) (715 ) 236 (479 ) (968 ) 142 (826 ) Income (loss) before taxes $ 9,473 $ 1,714 $ 11,187 $ 5,908 $ (134 ) $ 5,774 $ 9,706 $ (522 ) $ 9,184 As of May 31, 2015 As of May 31, 2014 As of May 31, 2013 Consolidated Consolidated Consolidated NAU Other Total NAU Other Total NAU Other Total Total assets $ 78,042 $ 8,502 $ 86,544 $ 76,383 $ 12,074 $ 88,457 $ 75,115 $ 12,967 $ 88,082 Expenditures for long-lived assets $ 859 $ 452 $ 1,311 $ 3,094 $ 1,438 $ 4,532 $ 8,462 $ 235 $ 8,697 Depreciation & amortization $ 5,546 $ 581 $ 6,127 $ 5,765 $ 591 $ 6,356 $ 5,090 $ 560 $ 5,650

SUMMARIZED QUARTERLY FINANCIA37

SUMMARIZED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	May. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Quarter First Second Third Fourth Fiscal Year Ended May 31, 2015 Revenues $ 29,304 $ 30,638 $ 29,083 $ 28,866 Operating income 3,536 4,698 2,581 937 Net income 2,168 2,840 1,478 268 Net income attributable to NAUH and Subsidiaries 2,170 2,826 1,464 256 Net income per share (common): Basic 0.09 0.11 0.06 0.01 Diluted 0.09 0.11 0.06 0.01 Fiscal Year Ended May 31, 2014 Revenues $ 30,929 $ 33,182 $ 31,674 $ 31,968 Operating (loss) income (362) 2,315 1,898 2,402 Net (loss) income (366) 1,363 1,127 1,461 Net (loss) income attributable to NAUH and Subsidiaries (329) 1,362 1,117 1,335 Net (loss) income per share (common): Basic (0.01) 0.05 0.04 0.05 Diluted (0.01) 0.05 0.04 0.05

STATEMENT PRESENTATION AND BA38

STATEMENT PRESENTATION AND BASIS OF CONSOLIDATION (Details Narrative) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2013	Aug. 31, 2013	May. 31, 2015	May. 31, 2014	May. 31, 2013
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Assets	$ 86,544				$ 88,457				$ 86,544	$ 88,457	$ 88,082
Net income (loss)	256	$ 1,464	$ 2,826	$ 2,170	1,335	$ 1,117	$ 1,362	$ (329)	6,716	3,485	5,446
Variable Interest Entity Primary Beneficiary [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Assets	685				774				685	774
Liabilities	$ 94				$ 101				94	101
Net income (loss)									$ 75	$ (34)	$ 79

NATURE OF OPERATIONS (Details N

NATURE OF OPERATIONS (Details Narrative)	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Sales Revenue Net [Member] | Nau [Member]
Nature Of Operations [Line Items]
Total revenues that were derived from NAU's academic revenue	92.00%	92.00%	91.00%

SUMMARY OF SIGNIFICANT ACCOUN40

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	May. 31, 2015	May. 31, 2014
Available For Sale Investments [Line Items]
Amortized Cost	$ 4,102	$ 15,440
Gross Unrealized Holding Gains		1
Gross Unrealized Holding Losses		(6)
Fair Value	$ 4,102	15,435
U S Treasury debt secuirities [Member]
Available For Sale Investments [Line Items]
Amortized Cost		$ 11,995
Gross Unrealized Holding Gains
Gross Unrealized Holding Losses
Fair Value		$ 11,995
Certificates Of Deposit [Member]
Available For Sale Investments [Line Items]
Amortized Cost	$ 4,102	3,445
Gross Unrealized Holding Gains		1
Gross Unrealized Holding Losses		(6)
Fair Value	$ 4,102	$ 3,440

SUMMARY OF SIGNIFICANT ACCOUN41

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)	12 Months Ended
	May. 31, 2015
Building And Building Improvements [Member] | Minimum [Member]
Property Plant And Equipment Estimated Useful Life [Line Items]
Property plant and equipment useful life	19 years
Building And Building Improvements [Member] | Maximum [Member]
Property Plant And Equipment Estimated Useful Life [Line Items]
Property plant and equipment useful life	40 years
Land Improvements [Member] | Minimum [Member]
Property Plant And Equipment Estimated Useful Life [Line Items]
Property plant and equipment useful life	10 years
Land Improvements [Member] | Maximum [Member]
Property Plant And Equipment Estimated Useful Life [Line Items]
Property plant and equipment useful life	20 years
Furniture Vehicles And Equipment [Member] | Minimum [Member]
Property Plant And Equipment Estimated Useful Life [Line Items]
Property plant and equipment useful life	5 years
Furniture Vehicles And Equipment [Member] | Maximum [Member]
Property Plant And Equipment Estimated Useful Life [Line Items]
Property plant and equipment useful life	15 years

SUMMARY OF SIGNIFICANT ACCOUN42

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($) $ in Thousands	May. 31, 2015	May. 31, 2014
Property and equipment - net
Land	$ 119	$ 565
Land improvements	23	374
Buildings and building improvements	40,718	45,778
Furniture, vehicles, and equipment	28,171	28,293
Total gross property and equipment	69,031	75,010
Less accumulated depreciation	(32,641)	(31,752)
Total net property and equipment	$ 36,390	$ 43,258

SUMMARY OF SIGNIFICANT ACCOUN43

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Basis Of Presentation [Line Items]
Proceeds from sale of available for sale investments	$ 61,478	$ 42,277	$ 34,046
Net realized gains and losses on sales of investments	0	0	21
Depreciation expense	6,127	6,356	5,650
Impairment of long lived-assets	0	0	0
Deferred rent and tenant improvement liability	6,047	6,431
Advertising cost	9,807	12,077	12,390
Depreciation and amortization expense	6,127	6,356	5,650
Amortization related to development cost	339	354	351
Capital Lease Obligations [Member]
Basis Of Presentation [Line Items]
Depreciation expense	$ 530	$ 530	$ 530

DEPARTMENT OF EDUCATION REQUI44

DEPARTMENT OF EDUCATION REQUIREMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Regulatory Requirements [Line Items]
Academic revenue	$ 108,360	$ 117,099	$ 117,609
Percentage of revenue collected from funds under title IV programs	89.18%	89.32%	89.74%
Cash Basis Method [Member]
Regulatory Requirements [Line Items]
Academic revenue	$ 119,200	$ 120,169	$ 116,745
United States Department Of Education Student Financial Aid Under Title I V Programs [Member]
Regulatory Requirements [Line Items]
Title IV HEA funds received	$ 106,305	$ 107,333	$ 104,763

DEPARTMENT OF EDUCATION REQUI45

DEPARTMENT OF EDUCATION REQUIREMENTS (Details Narrative) - Point	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Regulatory Requirements [Line Items]
Minimum composite score	(1)
Maximum composite score	3
Composite score	3	2.3	2.4
United States Department Of Education Student Financial Aid Under Title I V Programs [Member]
Regulatory Requirements [Line Items]
Minimum revenues percentage under 34 CFR 600.5(d)	10.00%
Regulatory Requirement [Member]
Regulatory Requirements [Line Items]
Minimum composite score	1.5

CONDOMINIUM PROJECT (Details Na

CONDOMINIUM PROJECT (Details Narrative)	12 Months Ended
	May. 31, 2015USD ($)Building	May. 31, 2014USD ($)
Contracts [Line Items]
Number of condominium units originally available for sale | Building	24
Number of condominium units sold till date | Building	12
Percentage of interest on contract calls	3.00%
Payments on contract calls	$ 900
Contract outstanding balance		$ 154,000
Other Noncurrent Assets [Member]
Contracts [Line Items]
Contract outstanding balance		148,000
Other Current Assets [Member]
Contracts [Line Items]
Contract outstanding balance		$ 6,000

CONTRACT FOR DEED (Details Narr

CONTRACT FOR DEED (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 28, 2013	May. 31, 2015	May. 31, 2014	May. 31, 2013
Leases [Abstract]
Property, sales price	$ 4,000
Proceeds From Principal Received	3,230
Proceed from interest received	85
(Gain) loss on disposition of property	1,743	$ 1,710	$ 211	$ (100)
Sale lease back monthly rental payment	$ 59

LINES OF CREDIT (Details Narrat

LINES OF CREDIT (Details Narrative) - May. 31, 2015 - Unsecured Revolving Line Of Credit [Member] - USD ($) $ in Thousands	Total
Line of Credit Facility [Line Items]
Line of credit maximum borrowing capacity	$ 3,000
Line of credit maturity date	May 31, 2016
Prime interest rate on line of credit	3.25%

LEASES (Details)

LEASES (Details) $ in Thousands	May. 31, 2015USD ($)
Leases [Abstract]
2,016	$ 5,915
2,017	5,640
2,018	5,629
2,019	5,490
2,020	5,066
Thereafter	$ 13,090

LEASES (Details 1)

LEASES (Details 1) $ in Thousands	May. 31, 2015USD ($)
Leases [Abstract]
2,016	$ 1,115
2,017	1,137
2,018	1,159
2,019	1,183
2,020	1,207
Thereafter	15,602
Total future minimum lease obligation	21,403
Less: Imputed interest on capital leases	(9,306)
Net present value of lease obligations	$ 12,097

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013	Jun. 30, 2014	Nov. 30, 2013
Lease Liability [Line Items]
Operating lease rent expense	$ 6,037	$ 6,025	$ 5,429
Capital lease additions		2,000
Notes receivable amount				$ 1,373	$ 2,000
Future payments due under capital lease obligation	21,403
Net present value of capital lease obligation	12,097
Capital lease payable, current	244	206
Capital lease payable, non-current	11,853	12,097
Capital lease assets	10,600	10,600
Capital lease assets, accumulated depreciation	1,899	$ 1,369
Capital Lease [Member]
Lease Liability [Line Items]
Notes receivable per month	$ 14
Notes receivable interest rate percentage	6.00%
Future payments due under capital lease obligation	$ 21,400
Net present value of capital lease obligation	$ 12,100

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - Restricted Stock Units R S U [Member] - $ / shares	12 Months Ended
	May. 31, 2015	May. 31, 2014
Restricted Shares
Shares, non-vested shares, beginning balance	608,170	13,442
Shares, granted	42,155	477,229
Shares, modified		303,500
Shares, vested	(28,170)	(16,001)
Shares, forfeited	(580,000)	(170,000)
Shares, non-vested shares, ending balance	42,155	608,170
Weighted average grant date fair value
Weighted average grant date fair value, non-vested shares, beginning balance	$ 4.01	$ 4.46
Weighted average grant date fair value, granted	3.11	3.76
Weighted average grant date fair value, modified		4.31
Weighted average grant date fair value, vested	3.55	4.30
Weighted average grant date fair value,forfeited	4.03	3.87
Weighted average grant date fair value, Non-vested shares, Ending balance	$ 3.11	$ 4.01

STOCKHOLDERS' EQUITY (Details 1

STOCKHOLDERS' EQUITY (Details 1) - $ / shares	12 Months Ended
	May. 31, 2015	May. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected term (in years)	5 years 6 months	5 years 9 months
Expected volatility	51.40%	56.14%
Weighted average risk free interest rate	1.52%	1.92%
Weighted average risk free interest rate range, minimum	1.52%	1.90%
Weighted average risk free interest rate range, maximum	1.52%	1.96%
Weighted average expected dividend	5.79%	4.97%
Weighted average expected dividend range, minimum	5.79%	4.91%
Weighted average expected dividend range, maximum	5.79%	5.06%
Weighted average fair value	$ 0.88	$ 1.24

STOCKHOLDERS' EQUITY (Details 2

STOCKHOLDERS' EQUITY (Details 2) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Shares
Outstanding Shares, Beginning Balance	75,750	368,000
Shares, Granted	12,500	25,000
Shares, Exercised	0	0
Shares, Modified		(303,500)
Shares, Forfeited or canceled	(9,500)	(13,750)
Outstanding Shares, Ending Balance	78,750	75,750	368,000
Exercisable Shares, At The End of Period	66,250	49,500
Weighted Average Exercise Price
Weighted Average Exercise Price, Beginning balance	$ 7.17	$ 7.67
Weighted Average Exercise Price, Granted	3.11	3.63
Weighted Average Exercise Price, Exercised	0	0
Weighted Average Exercise Price, Modified		7.46
Weighted Average Exercise Price, Forfeited or canceled	8.70	7.80
Weighted Average Exercise Price, Ending balance	6.34	7.17	$ 7.67
Weighted Average Exercise Price, Ending balance exercisable	$ 6.85	$ 9.02
Weighted Average Remaining Contractual Life (in years)
Weighted Average Remaining Contractual Life (in years), Outstanding	7 years 1 month 6 days	7 years 7 months 6 days	8 years 4 months 24 days
Weighted Average Remaining Contractual Life (in years), Exercisable	6 years 9 months 18 days	6 years 6 months
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Ending Balance	$ 0	$ 0
Aggregate Intrinsic Value, Exercisable at the end of Period	$ 0	$ 0

STOCKHOLDERS' EQUITY (Details 3

STOCKHOLDERS' EQUITY (Details 3) - May. 31, 2015 - $ / shares	Total
Period One [Member]
Dividends Payable [Line Items]
Date declared	Apr. 30, 2012
Record date	Jun. 30, 2012
Payment date	Jul. 9, 2012
Per share	$ 0.0325
Period Two [Member]
Dividends Payable [Line Items]
Date declared	Aug. 27, 2012
Record date	Sep. 30, 2012
Payment date	Oct. 5, 2012
Per share	$ 0.0400
Period Three [Member]
Dividends Payable [Line Items]
Date declared	Oct. 29, 2012
Record date	Dec. 14, 2012
Payment date	Dec. 28, 2012
Per share	$ 0.0400
Period Four [Member]
Dividends Payable [Line Items]
Date declared	Jan. 28, 2013
Record date	Mar. 29, 2013
Payment date	Apr. 12, 2013
Per share	$ 0.0400
Period Five [Member]
Dividends Payable [Line Items]
Date declared	Apr. 29, 2013
Record date	Jun. 28, 2013
Payment date	Jul. 12, 2013
Per share	$ 0.0400
Period Six [Member]
Dividends Payable [Line Items]
Date declared	Aug. 26, 2013
Record date	Sep. 30, 2013
Payment date	Oct. 11, 2013
Per share	$ 0.0450
Period Seven [Member]
Dividends Payable [Line Items]
Date declared	Oct. 28, 2013
Record date	Dec. 30, 2013
Payment date	Jan. 10, 2014
Per share	$ 0.0450
Period Eight [Member]
Dividends Payable [Line Items]
Date declared	Jan. 25, 2014
Record date	Mar. 28, 2014
Payment date	Apr. 11, 2014
Per share	$ 0.0450
Period Nine [Member]
Dividends Payable [Line Items]
Date declared	Apr. 7, 2014
Record date	Jun. 30, 2014
Payment date	Jul. 11, 2014
Per share	$ 0.0450
Period Ten [Member]
Dividends Payable [Line Items]
Date declared	Aug. 11, 2014
Record date	Sep. 30, 2014
Payment date	Oct. 10, 2014
Per share	$ 0.0450
Period Eleven [Member]
Dividends Payable [Line Items]
Date declared	Oct. 6, 2014
Record date	Dec. 31, 2014
Payment date	Jan. 16, 2015
Per share	$ 0.0450
Period Twelve [Member]
Dividends Payable [Line Items]
Date declared	Jan. 24, 2015
Record date	Mar. 31, 2015
Payment date	Apr. 17, 2015
Per share	$ 0.0450
Period Thirteen [Member]
Dividends Payable [Line Items]
Date declared	Apr. 13, 2015
Record date	Jun. 30, 2015
Payment date	Jul. 10, 2015
Per share	$ 0.0450

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Common stock, shares outstanding	25,191,414	25,117,454
Treasury shares resulting from settlement of stock based compensation	$ 32	$ 64
Restricted stock compensation expense	(1,170)	1,170	$ 55
Compensation expenses restricted stock award	122	82	48
Unamortized compensation cost of restricted stock and restricted stock unit awards	$ 51
Unamortized compensation cost weighted average period	4 months 24 days
Compensation expense of stock options	$ 27	$ 22	$ 275
Options surrendered and canceled in exchange for restricted stock units			303,500
Options with a weighted average exercise price surrendered and canceled in exchange for restricted stock units			$ 7.46
2013 Plan [Member]
Common stock remain available for issuance	750,000
Restricted stock units cancelled	580,000	170,000
Restricted stock units compensation expense reversed	$ 1,170
2009 Stock Option and Compensation Plan [Member]
Shares authorized for issuance	1,300,000
Common stock remain available for issuance	712,730

EMPLOYEE COMPENSATION PLANS (De

EMPLOYEE COMPENSATION PLANS (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Employer discretionary contribution amount	$ 0	$ 0	$ 735
Employer contribution matching percentage	5.00%
Incentive expense	$ 390	197	$ 451
Accrued contribution employer amount	708	$ 653
Chief Executive Officer And President [Member]
Defined Benefit Plan Disclosure [Line Items]
Incentive expense	$ 100

SELF-INSURED HEALTH INSURANCE (

SELF-INSURED HEALTH INSURANCE (Details Narrative) - USD ($) $ in Thousands	May. 31, 2015	May. 31, 2014
Related Party Transactions [Abstract]
Claims outstanding	$ 340	$ 641

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Current tax expense:
Federal	$ 5,216	$ 3,678	$ 2,053
State	751	509	451
Total current tax expense	5,967	4,187	2,504
Deferred tax expense:
Federal	(1,396)	(1,740)	1,105
State	(138)	(141)	89
Total deferred tax expense	(1,534)	(1,881)	1,194
Total tax expense	$ 4,433	$ 2,306	$ 3,698

INCOME TAXES (Details 1)

INCOME TAXES (Details 1)	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Income Tax Disclosure [Abstract]
Statutory	34.00%	34.00%	34.00%
State income taxes - net of federal benefit	3.60%	4.20%	4.20%
Permanent differences and other	2.00%	1.70%	2.10%
Effective income tax rate	39.60%	39.90%	40.30%

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands	May. 31, 2015	May. 31, 2014
Deferred income tax assets:
Account receivable allowances	$ 616	$ 407
Bad debt write-offs	1,544	384
Other	130	122
Accrued salaries	717	1,440
Start up costs	276	305
Capital lease obligations	4,536	4,614
Deferred rent	2,268	2,378
Total deferred income tax assets	10,087	9,650
Deferred income tax liabilities:
Fixed assets and course development	(10,493)	(11,587)
Prepaid expenses	(542)	(543)
Total deferred income tax liabilities	(11,035)	(12,130)
Net deferred income tax liabilities	$ (948)	$ (2,480)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2013	Aug. 31, 2013	May. 31, 2015	May. 31, 2014	May. 31, 2013
Numerator:
Net Income attributable to National American University Holdings, Inc.	$ 256	$ 1,464	$ 2,826	$ 2,170	$ 1,335	$ 1,117	$ 1,362	$ (329)	$ 6,716	$ 3,485	$ 5,446
Denominator:
Weighted average shares outstanding used to compute basic net income per common share									25,160,729	25,093,096	25,556,391
Incremental shares issuable upon the assumed vesting of stock options
Incremental shares issuable upon the assumed vesting of restricted shares									5,003	1,265	5,077
Common shares used to compute diluted net income per share									25,165,732	25,094,361	25,561,468
Basic net income per common share	$ 0.01	$ 0.06	$ 0.11	$ 0.09	$ 0.05	$ 0.04	$ 0.05	$ (0.01)	$ 0.27	$ 0.14	$ 0.21
Diluted net income per common share	$ 0.01	$ 0.06	$ 0.11	$ 0.09	$ 0.05	$ 0.04	$ 0.05	$ (0.01)	$ 0.27	$ 0.14	$ 0.21

EARNINGS PER SHARE (Details Nar

EARNINGS PER SHARE (Details Narrative) - shares	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Stock Option [Member]
Computation Of Earnings Per Share [Line Items]
Number of shares excluded from calculation of diluted EPS	78,750	75,750	368,000

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - Fair Value Measurements Recurring [Member] - USD ($) $ in Thousands	May. 31, 2015	May. 31, 2014
Investments
Total assets at fair value	$ 4,371	$ 16,345
U S Treasury Securities [Member]
Investments
Total assets at fair value		11,995
Cash Equivalents [Member]
Investments
Total assets at fair value	$ 269	910
Money Market Funds [Member]
Investments
Total assets at fair value	4,102	3,440
Fair Value Inputs Level 1 [Member]
Investments
Total assets at fair value	$ 513	13,148
Fair Value Inputs Level 1 [Member] | U S Treasury Securities [Member]
Investments
Total assets at fair value		11,995
Fair Value Inputs Level 1 [Member] | Cash Equivalents [Member]
Investments
Total assets at fair value	$ 269	910
Fair Value Inputs Level 1 [Member] | Money Market Funds [Member]
Investments
Total assets at fair value	244	243
Fair Value Inputs Level 2 [Member]
Investments
Total assets at fair value	$ 3,858	$ 3,197
Fair Value Inputs Level 2 [Member] | U S Treasury Securities [Member]
Investments
Total assets at fair value
Fair Value Inputs Level 2 [Member] | Cash Equivalents [Member]
Investments
Total assets at fair value
Fair Value Inputs Level 2 [Member] | Money Market Funds [Member]
Investments
Total assets at fair value	$ 3,858	$ 3,197
Fair Value, Inputs, Level 3 [Member]
Investments
Total assets at fair value
Fair Value, Inputs, Level 3 [Member] | U S Treasury Securities [Member]
Investments
Total assets at fair value
Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member]
Investments
Total assets at fair value
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member]
Investments
Total assets at fair value

FAIR VALUE MEASUREMENTS (Deta65

FAIR VALUE MEASUREMENTS (Details Narrative) - USD ($) $ in Thousands	May. 31, 2015	May. 31, 2014
Fair Value Disclosures [Abstract]
Estimated fair value of capital lease obligations	$ 12,097	$ 12,303

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended
	Mar. 28, 2013	May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2013	Aug. 31, 2013	May. 31, 2015	May. 31, 2014	May. 31, 2013
Revenue:
Academic										$ 108,360	$ 117,099	$ 117,609
Auxiliary										7,920	9,076	10,259
Rental income apartments										1,164	1,138	1,098
Condominium sales										447	440	210
Total revenue		$ 28,866	$ 29,083	$ 30,638	$ 29,304	$ 31,968	$ 31,674	$ 33,182	$ 30,929	117,891	127,753	129,176
Operating expenses:
Cost of educational services										28,551	29,478	29,188
Selling, general & administrative										73,301	85,286	82,906
Auxiliary										5,629	6,236	6,780
Cost of condominium sales										368	386	192
loss (gain) on disposition of property	$ 1,743									1,710	211	(100)
Total operating expenses										106,139	121,500	119,166
Income (loss) from operations		937	$ 2,581	$ 4,698	$ 3,536	2,402	$ 1,898	$ 2,315	$ (362)	11,752	6,253	10,010
Other income (expense):
Interest inc										148	142	111
Interest exp										(891)	(770)	(1,044)
Other income (loss) - net										178	149	107
Total other (expense) income										(565)	(479)	(826)
Income (loss) before taxes										11,187	5,774	9,184
Total assets		86,544				88,457				86,544	88,457	88,082
Expenditures for for long-lived assets										1,311	4,532	8,697
Depreciation & amortization										6,127	6,356	5,650
Nau [Member]
Revenue:
Academic										108,360	117,099	117,609
Auxiliary										$ 7,920	$ 9,076	$ 10,259
Rental income apartments
Condominium sales
Total revenue										$ 116,280	$ 126,175	$ 127,868
Operating expenses:
Cost of educational services										28,551	29,478	29,188
Selling, general & administrative										71,681	83,627	81,193
Auxiliary										$ 5,629	$ 6,236	$ 6,780
Cost of condominium sales
loss (gain) on disposition of property										$ 114	$ 114	$ 33
Total operating expenses										105,975	119,552	117,194
Income (loss) from operations										10,305	6,623	10,674
Other income (expense):
Interest inc										51	54	98
Interest exp										$ (883)	$ (769)	(1,044)
Other income (loss) - net												(22)
Total other (expense) income										$ (832)	$ (715)	(968)
Income (loss) before taxes										9,473	5,908	9,706
Total assets		78,042				76,383				78,042	76,383	75,115
Expenditures for for long-lived assets										859	3,094	8,462
Depreciation & amortization										$ 5,546	$ 5,765	$ 5,090
Other [Member]
Revenue:
Academic
Auxiliary
Rental income apartments										$ 1,164	$ 1,138	$ 1,098
Condominium sales										447	440	210
Total revenue										$ 1,611	$ 1,578	$ 1,308
Operating expenses:
Cost of educational services
Selling, general & administrative										$ 1,620	$ 1,659	$ 1,713
Auxiliary
Cost of condominium sales										$ 368	$ 386	$ 192
loss (gain) on disposition of property										(1,824)	(97)	67
Total operating expenses										164	1,948	1,972
Income (loss) from operations										1,447	(370)	(664)
Other income (expense):
Interest inc										97	88	$ 13
Interest exp										(8)	(1)
Other income (loss) - net										178	149	$ 129
Total other (expense) income										267	236	142
Income (loss) before taxes										1,714	(134)	(522)
Total assets		$ 8,502				$ 12,074				8,502	12,074	12,967
Expenditures for for long-lived assets										452	1,438	235
Depreciation & amortization										$ 581	$ 591	$ 560

SUMMARIZED QUARTERLY FINANCIA67

SUMMARIZED QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2013	Aug. 31, 2013	May. 31, 2015	May. 31, 2014	May. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 28,866	$ 29,083	$ 30,638	$ 29,304	$ 31,968	$ 31,674	$ 33,182	$ 30,929	$ 117,891	$ 127,753	$ 129,176
Operating (loss) income	937	2,581	4,698	3,536	2,402	1,898	2,315	(362)	11,752	6,253	10,010
Net (loss) income	268	1,478	2,840	2,168	1,461	1,127	1,363	(366)	6,754	3,468	5,486
Net (loss) income attributable to NAUH and Subsidiaries	$ 256	$ 1,464	$ 2,826	$ 2,170	$ 1,335	$ 1,117	$ 1,362	$ (329)	$ 6,716	$ 3,485	$ 5,446
Net (loss) income per share (common):
Basic	$ 0.01	$ 0.06	$ 0.11	$ 0.09	$ 0.05	$ 0.04	$ 0.05	$ (0.01)	$ 0.27	$ 0.14	$ 0.21
Diluted	$ 0.01	$ 0.06	$ 0.11	$ 0.09	$ 0.05	$ 0.04	$ 0.05	$ (0.01)	$ 0.27	$ 0.14	$ 0.21