PSU Magazine Winter 1997

I • PSU Foundation Officers 1995~96 Stella J. Lillicrop Board President Gary D. Cole Administrative Vice President Richard L. Hawkins '69 Vice President for Development Elie G. Kassab Vice President for Development Douglas S. Stirling Vice President for Development Ed Truax Treasurer Robert W. Philip Secretary CD Hobbs Immediate Past President Foundation Financial Statements Balance Sheet As of]une30 , J 996 Assets Cash and Short-Term Investments ........$ Investments ........ . Other Assets ........ . Total Assets ....... $ Liabilities ........... $ Fund Balances ...... . Total Liabilities and Fund Balances ..... $ 1,613,687 5,488,997 630,887 7.733,571 314,108 7.419.463 7,733,571 Revenues, Expenditures, and Changes in Fund Balances For the year ended June 30, 1996 Revenues Contributions and Gifts$ Investment Income ... Special Events and Other ........... . . Total Revenues Expenditures Educational and General .......... . Student Aid Awards .. . Operating .......... . Fundraising ... . ..... . Total Expenditures Excess of Revenues over Expenditures ..... . Fund Balance, Beginning of Year ..... Fund Balance, 2,746,691 657,410 4,368,214 1,187,236 441,791 501,342 400.387 2.530.756 1,837,458 5.582.005 End of Year ....... $ 7.419.463 The complete Financial Statements were audited by Coopers & Lybrand L.L.P., and are available from the PSU Foundation. T he financials presented in the 1995-96 Annual Report tell the story of Portland State's worth to this community. The year closed with a record-breaking $2.8 million increase in the fund balance from nearly 13,000 donors, including individuals, businesses, and foundations. On behalf of the Board of Directors, thank you for that vote of confidence. Several things have contributed to our efforts. President Judith Ramaley continues to maintain a strong, clear vision for the University. Currently, the Foundation is working with President Ramaley on an updated strategic plan that will take us across the century mark. Through the efforts of Dr. Lee Scott Theisen, our Executive Director, the Foundation has forged working relationships with the deans. Board members, energized by the enthu– siasm of the deans, are linking business, civic, and cultural leaders with the University. Donna Schaeffer, the University's Giving Officer, has pro– vided tremendous support for all fundraising efforts. During the year a unique opportunity presented itself. The Foundation played a major role in the acquisition of the former U.S. West Building near campus. The Foundation's understanding and continuing involvement with the University District Plan enabled us to identify the value of the real estate and educational opportunity and act quickly to keep the deal on the table. The community will be the beneficiary. After a full year of research and careful deliberation, the Foundation voted to place the assets of the Foundation with the U.S. Trust Company of the Northwest. Already, the relationship has paid dividends not only in the refinement of asset allocation and investment policy, but also in the arena of networking. We take Board development seriously. Active involvement is encouraged and respected. Not only do board members carry out the fiduciary duty of the Foundation, they play an important advocacy role for the University. In addition, the willingness of board member to contribute both time and money reflects a move toward greater participation in development. In short, we believe in PSU. To my fellow board members, thank you for your service to the Foundation and PSU. Your efforts have paid off. And to our many donors, volunteers, and friends in the community, thank you for contributing to the excellence that has come to represent Portland State University. Sincerely, ~·;;;(~ Stella J. Lillicrop President 1995-96 PSU Foundation PSU FOUNDATION • PO BOX 243 • PORTLAND, OR 97207-0243 • 725-4911