ASSETS STATEMENT OF FINANCIAL POSITION Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $900,158 Accounts receivable, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,546,288 Pledges receivable, net of allowance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $815,806 Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $72,350,485 Inventories, prepaid expenses and other assets . . . . . . . . . . . . . . . . . . . . . . $777,369 Investments in plant, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $50,659,958 Bond issue costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $160,606 Cash surrender value of life insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $364,836 Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $130,575,506 LIABILITIES Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,252,328 Accrued payroll and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $521,985 Borrowings under lines of credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,684,647 Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $11,573,895 Advances from federal agency for student loans . . . . . . . . . . . . . . . . . . . $1,838,363 Liabilities under charitable annuity unitrust agreements . . . . . . . . . . . . . . $854,557 Capital lease obligation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $335,477 Deferred tuition; fees and deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $333,760 Funds held for campus organizations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $149,969 Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $18,544,981 NET ASSETS Unrestricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $62,154,276 Temporarily restricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $13,389,900 Permanently restricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $36,486,349 TOTAL NET ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $112,030,525 TOTAL LIABILITES AND NET ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . $130,575,506 REVENUES Investment income 10.9% Tuition and fees 64.3% Auxiliaries 15.2% Miscellaneous 0.5% Contributions (including pledges) 9.1% EXPENDITURES Endowment Investment June 30, 2010 The <strong>Franklin</strong> <strong>College</strong> Endowment is invested according to the policy adopted by the board of trustees. An investment committee directs and reviews the endowment fund policies and performance. The market value of the endowment investments totals $73,976,925, as of June 30, 2010.The majority of the funds are maintained in the endowment pool; others are invested individually due to donor restrictions.Fourteen investment firms are retained to manage the endowment pool funds.The endowment pool, which has a balance of $72,237,331, is invested as follows: Cash and cash equivalents 4.7% . . . . . . . . . . $3,424,643 Bond funds 17.2% . . . . . . . . . . . . . . . . . . . . $12,431,644 Stock funds and ETF’s 33.7% . . . . . . . . . . . $24,360,455 Funds of funds 9.4% . . . . . . . . . . . . . . . . . . . $6,752,728 Alternative investments 27.3% . . . . . . . . . . $19,687,861 Real extate 7.7% . . . . . . . . . . . . . . . . . . . . . . $5,580,000 Other endowment funds are separately invested per instructions of the donor.These funds total $1,739,594. The endowment also includes life income and annuity funds with a market value of $1,096,243. Instruction 23.1% Student aid 29.6% Auxiliary enterprises 12.0% Student services 15.9% Fundraising 3.9% Academic support 8.4% Institutional support 7.1% franklincollege.edu/about FRANKLIN COLLEGE 20
ALUMNI PARTICIPATION While colleges and universities across the country are experiencing a decline in the number of alumni donors, <strong>Franklin</strong> <strong>College</strong> alumni continue to support their alma mater in increasing numbers above the national average for private institutions. FRANKLIN COLLEGE 21 franklincollege.edu/about 30 25 20 15 10 5 0 19.09% 23.01% 26.33% 27.09% 27.80% 28.50% 2004 2005 2006 2007 2008 2009
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