The Marshall University Foundation Statement of Financial Position

as of June 30, 2013 and June 30, 2012

Assets
2013
2012
Cash and cash equivalents 18,682,011 9,894,374
Notes receivable --- ---
Unconditional promises to give
(less allowance for uncollectible promises of
$82,288 and $145,785 in 2009 and 2008 respectively)
26,889,112 20,109,853
Contributions receivable from remainder trusts 1,019,178 868,759
Other receivables 32,870 28,793
Beneficial interest in perpetual trusts 8,937,360 8,493,506
Investments 100,032,880 90,920,682
Net investments in direct financing leases 2,065,975 2,594,802
Property & equipment, net 14,358,755 14,794,183
Cash surrender value 433,734 392,027
Prepaids 23,013 19,780
Other assets 15,500 15,400
Total assets $ 172,490,388 $ 148,132,159
Liabilities
Current payables 211,184 213,429
Bonds payable 10,490,975 11,433,442
Notes payable 300,000 ---
Annuity payment liability 376,580 498,712
Deferred income 343,675 479,712
Fair value of interest rate swap 218,602 353,936
Total liabilities $ 11,941,016 $ 12,979,231
Net assets
Unrestricted 17,671,287 14,159,630
Temporarily restricted 55,664,356 38,552,163
Permanently restricted 87,213,729 82,441,135
Total net assets $ 160,549,372 $ 135,152,928
TOTAL LIABILITIES AND NET ASSETS $ 172,490,388 $ 148,132,159
Public support and revenues
Gifts, contributions and other 24,170,993 27,003,529
Investment income (loss) 10,702,948 (1,745,568)
Total Public Support and Revenues $ 34,873,941 $ 25,257,961
Expenses
Total Program services 6,513,419 9,964,510
Total Supporting services 2,714,078 2,507,429
Loss on Equity Investment 250,000 ---
Total Expenses $ 9,477,497 $ 12,471,939
Change in net assets before unusual items 25,396,444 12,786,022
Tranfer of assets to MCTC Foundation --- (196,409)
Change in net assets 25,396,444 12,589,613
Net assets beginning of year 135,152,928 122,563,315
NET ASSETS END OF YEAR $ 160,549,372 $ 135,152,928

Source of Gifts & Pledges

Percentage Contribution

Expenses

2012 Expenses

Growth in Total Assets

Growth in Total Assets