PSU Magazine Winter 1998

J PSU Foundation Treasurer's Report Contributio ns and gifts in 1996-97 tota led $5, 185 ,22 1. Twelve-month earn– ings and appreciation on investments amounted to $926,225, for an approxi– mate 16 percent return. Contributions and gifts were up sign ificantly from the prior year, allowing the PSU Foundation to increase its support to the Un iversity. Over $2,35 1,827 was used to support stu– dent aid award and Univer ity depart– ments and programs. Net assets totaled $13,057,4 11 at June 30, 1997, up $5,637,948 or 76 percent over last year's balances. Approximately $7,700,451 of this total is endowed to yield an ongoing stream of future earn– ings. Thank you for your continued support. Sincerely, L. Wayne Purdy Treasurer PSU Foundation Board of Directors 1996~97 Gary D. Cole President Robert W. Philip Vice Presiden t I Administration Douglas S. Stirling Vice President I Development Ed Truax Vice President I Development Robert D. Sznewajs Vice President / Development David Leland '65 Vice President I Real Estate David P. Hoffman Secretary L. Wayne Purdy Treasurer Stella J. Li llicrop Past President Foundation Financial Statements Balance Sheet I As of June 30, 1997 A ssets Cash and cash equivalents .................................................................................. $ Investments ............................................................................................................ Pledges receivable, net............................................................................................ Equipment, net ...................................................................................................... O ther Assets .......................................................................................................... Total Assets ...................................................................................... $ Liabilities and N et A ssets Liabilities Account payable.................................................................................................. $ Life income agreements .......................................................................................... O ther liabilities ...................................................................................................... Total Liabilities.................................................................................... Net Assets Unrestricted .......................................................................................................... $ Temporarily restricted for Univer"ity programs .................................................... Permanently restricted (endowments) .................................................................. Total N et Assets ................................................................................ $ Total Liabilities and Net Assets.......................................................... $ Statement of Activities I For the year ended June 30 , 1997 4,757, 182 6, 111,947 2,585,803 146,234 89,533 13,690.699 545,216 14,645 73,427 633,288 2,821,844 2,535, 116 7,700,451 13.057.411 13.690.699 Unrestricted Temporarily Restricted Permanently Restricted Total Revenues, gains, and other support Contributions and gifts $1,455,116 G rants Investment income 142,1 99 Special events and other 1,354,8 18 Net realized and unrealized gains on investments 166,628 Net assets released from restrictions 3,568,086 Total revenues, gains, and other support 6,686,817 Expenses and losses Education and general Student aid awards O perating Fund raising Special events Life income agreements Total expenses and losses Increase in net 1,823,687 528, 140 50 1,653 392,385 $ 1,183,327 4.430.401 assets 2,256.446 Net assets, beginning of year, as previously reported 1,202,047 Reclassification ( 636,649) Net assets, beginning of year, as reclassified 565,398 Net a et , end of year $2,82 1,844 $2, 185,450 1,422,085 245,880 (3 ,568,086) 285,329 2,876,11 6 (626.329 ) 2,219.ZBZ $2.535, 11 6 $ 1,544,655 1,180,000 37 l,5 l8 3,096,!ZJ 3,096,m 3,341 ,300 1,262.978 ~.60~.278 $1.Z00.451 $5, 185,22 1 2,602,085 388,079 1,354,8 18 538,146 l0,068.349 1,823,687 528,140 50 1,653 392,385 $ l,183,327 l.209 4.430.40 1 5,631.948 7,4 19,463 1.419,463 $13,057.411 The compleie Financial Scaieiriems were audiied by Coopers & Lybrand L.L.P. , and are aooilable from die PSU Fowulaiion.