Marshall University FoundationMarshall University Foundation - 175th anniversary | 2011-2012 Annual Report

175th anniversary | 2011-2012 Annual Report

The Marshall University Foundation Statement of Financial Position as of June 30, 2012 and June 30, 2011

We Are… Financially Strong

Assets 2012 2011
Cash and cash equivalents 9,894,374 8,992,272
Unconditional promises to give
(less allowance for uncollectible promises of
$571,064 and $197,528 in 2012 and 2011 respectively)
20,109,853 9,765,271
Contributions receivable from remainder trusts 868,759 978,911
Other receivables 28,793 48,571
Beneficial interest in perpetual trusts 8,493,506 8,889,783
Investments 90,920,682 90,406,465
Net investments in direct financing leases 2,594,802 3,101,508
Property & equipment, net 14,794,183 12,876,755
Cash surrender value 392,027 394,645
Prepaids 19,780 19,500
Other assets 15,400 629,400
Total assets $ 148,132,159 $ 136,103,081
Liabilities
Current payables 213,429 177,455
Bonds payable 11,433,442 12,322,179
Annuity payment liability 498,712 628,641
Deferred income 479,712 270,765
Fair value of interest rate swap 353,936 140,726
Total liabilities $ 12,979,231 $ 13,539,766
Net assets
Unrestricted 14,159,630 16,976,026
Temporarily restricted 38,552,163 25,384,186
Permanently restricted 82,441,135 80,203,103
Total net assets $ 135,152,928 $ 122,563,315
TOTAL LIABILITIES AND NET ASSETS $ 148,132,159 $ 136,103,081

Growth in Total Assets

Growth in Total Assets
Public support and revenues 2012 2011
Gifts, contributions and other 27,003,529 17,106,764
Investment income (loss) (1,745,568) 15,488,658
Total Public Support and Revenues $ 25,257,961 $ 32,595,422
Expenses
Total Program services 9,964,510 6,628,040
Total Supporting services 2,507,429 2,793,907
Total Expenses $ 12,471,939 $ 9,421,947
Change in net assets before unusual items 12,786,022 23,173,475
Tranfer of assets to MCTC Foundation (196,409) --
Change in net assets 12,589,613 23,173,475
Net assets beginning of year 122,563,315 99,389,840
NET ASSETS END OF YEAR $ 135,152,928 $ 122,563,315

Percentage Contribution by Donor Type

Percentage Contribution

2012 Expenses

2012 Expenses