PSU Magazine Winter 1999

PSU Foundation Board of Directors 1997-98 Douglas S. Stirling President Robert W. Philip Vice President/Administration David P. Hoffman Vice President/Development Lisa D. Magnuson Vice President/Development David Leland '65 Vice President/Real Estate Peter A . 'Tony" Leineweber '68 Secretary L. Wayne Purdy Treasurer Gary D. Cole Immediate Past President Michae l Barrett Michael Call C heryl A. Chevis Jean B. Coughlin G ary R. C umpston '90 Lawrence Dark Joseph W. Deal Julie Strasser Dixon James E. Dunning Paul R. Ehrlich Nicho las Fish Wallace E. Harding '59 David L. Harris Ro nald S. King John R. Loacker '67, '77 Peggy J. Miller '78 Steven Miller C harles A. Moose '84, '93 David W. Morth land Anne Myers '94 Roscoe C. Nelson, Jr. Mohammad S. Rahman '77 William S. Reiersgaard Sharif Sahli '75 Judy A. South '86 Robert D. Sznewajs Ed Truax Douglas L. Walker Robert H. Williams Keren Brown W ilson '83 Daniel 0. Bem stine Ex-Officio Jan E. Kurtz '87 Executive Director - PSU Foundation Statement of Financial Position Contributions and gifts in 1997-98 totaled $7,4 11 .586. Special events, net of direct expenses, and other revenue equaled $ 165,004. Twelve-month earnings and appreciation on in vestments amounted to $ 1,529,208, a return of 14 percent. Approximately 4,847,083 was spent on scholar– ships and fe llowships, capital programs and direct University support during the 1997-98 fiscal year. Thank you for your continued support. Sincerely, --;)._ '\)~~ L. Wayne Purdy Treasurer Foundation Financial Statements Statement of Financial Position I As of June 30, 1998 Assets: Investments: Equny sccuru1cs . . ........ $ Fixed income sccunucs Money market funds T otal investments .. . .. . .. . . .. ......... . . . .. . . .. . . . . • . . • . . • . .• . .• . .• . . . . ... $ Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ Rcccivahlc from 1hc Un1vcr::.11y .........• . .. • ... Comrihuunns and grant' rccc1vahlc .............. . Prepaid expenses and other a::.~t!I .......... • . Propcrry and et1uipmcn1 .............. . Total Assets .. . .. . .. . .. . . •. .•.. • . . . . . •. .•. . • . .•..• . . . . .......•..• .•. . .. . $ Liabilities: Accounls payable and accrucJ expem.c~ . .. .s G r.mts payable ....................... . Condition;.1\ g:1fo ......................... • Deferred revenue ............................•. Other li<1hilit1cs ..................... . .... . Obilib>at1ons 10 trust hcncficiaric~ . Total Liabilities . . .. . . . ........ . .. . .. •. . . ..... . ....... • . . • . . •. . •. . •. . • . . .. . $ Net Assets Unrestricted Undcsignatcd . Designaled hy Board for long-rcrm investment Net investment in propcrry and equipment Tomi unrestricted Temporarily restricted Permanently restricted Total net assets . . . . . . . . . . . . .• .. • .. . . .. . .....$ . .$ Total liabilities and net assets .... .. .. . .. . .... . .. . .. . . ... • . . • . . •. . • . . •. . .. . . . $ Statement of Activities I For the year ended June 30, 1998 6.0lJ.048 5.189.2 17 Lill..fi2l IZ,795,16Z 1.l72.207 I ll.2Zl l.162.768 !4.875 illfilB. z 47.452 97l.9l2 200.000 783.000 12l.9 l0 l1.ll2 zz z 620.141 11l.872 lli!mli 852.041 7.252.078 7. l09.491 .l.i.:l.U.&lQ 17 6 16 263 Unrestric1.ed Temporarily Restricted Pemtanently Restricted Total Revenues, gains, and other support Contributions and grants Investment income Net appreciation m the f:m value of investments Special evcms net of d1rec1 expenses of $1.813.2ZO Other Tomi revenues and gains Net assets released from restrictions Total revenues, gains and other support Grants and expenses Scholarships an<l fellowships Capiral programs Dirccr Universiry support Found,nion administrmion Fund,mising Total expenses Increase in n Cl as.M:ts Ner assets at beginning o( year Net assets at end of year $561.195 2ll.507 261.049 53,540 690 1.109.981 4,673.7 17 5,783.698 566, 166 1,152.1 34 3, 128.783 652,666 18, 147 5.517.896 265,802 586.239 $852,041 $5.24 3.024 4l0.91} 60l.739 102.587 8 187 6.l88.450 (4.67l.717) I ,7 14.7ll l.714.7ll 5.5l7.J45 7,252.078 $1.607.367 1.607.367 l,607.l67 1,607.367 5.702.124 7.309,491 $7.411 .586 664.420 864.788 156.1 27 8 877 9, IOS.798 9, 105.798 566. 166 I,152, 134 3. 12 .783 652.666 18. 147 5,517.896 3.;87.902 11 .825.708 $15.413.610 The complete financUil suuemems tt/CTe cmdi[ed h)· Hoffman, S1ettl(lTt, Schmidt & McGee, P.C., and are am1lable from the PSU Found.mion.