Financial Plan - Cornell University Division of Budget & Planning

LGifts/Contributions – Through March 31, 2008Status by Division(dollars in thousands)07-08 06-07 05-06 04-05Ithaca Medical Year to Year to Year to Year toCampus College Date Date Date DateGeneral Operations1. Unrestricted $27,297 $43,430 $70,727 $60,269 $87,697 $81,2622. Temporarily Restricted 79,220 35,827 115,047 31,164 100,205 15,4513. Subtotal 106,517 79,257 185,774 91,433 187,902 96,713Financial Capital4. True Endowment 77,104 22,190 99,294 39,102 33,846 71,8265. Funds Functioning as Endowment 20,994 809 21,803 23,099 19,556 10,7246. Life Income Funds 9,460 403 9,863 10,415 3,737 1,7057. Trusts Held by Others 205 2,438 288. Loan Funds 1 109 110 109 116 2919. Subtotal 107,559 23,511 131,070 72,930 59,693 84,574Physical Capital10. Cash Gifts 13,508 83,246 96,754 29,548 35,273 12,51311. Gifts in Kind 3,504 3,504 3,310 4,299 13,55712. Subtotal 17,012 83,246 100,258 32,858 39,572 26,07013. Contributions Total 231,088 186,014 417,102 197,221 287,167 207,357Reconciling Adjustments to Cash Gifts14. Gifts from Outside Trusts 2,008 2,761 4,769 (120) (2,436) 1,96215. Gift Annuities 9,237 436 9,673 1,526 1,197 99816. Split-Interest Agreements 9,054 9,054 7,525 3,947 2,04917. Pledges (net present value) (40,581) (73,104) (113,685) 72,281 23,522 40,17918. Timing Differences (8,251) (10,885) (19,136) 28,273 9,257 (18,537)19. Other 3,479 3,479 122 59 1020. Total Reconciling Adjustments (25,054) (80,792) (105,846) 109,607 35,546 26,66121. Cash Gifts Total 206,034 105,222 311,256 306,828 322,713 234,018Notes:• This table reconciles the differences between contributions as displayed in the financial statements (line13) and cash gifts as reported from the contributor relations system (line 21). The reconciling adjustments(lines 14 through 19) represent the changes to the financial statements figures that would beneeded to make them equal to cash gifts as defined by Alumni Affairs and Development. The largest ofthese adjustments (positive or negative) are often the change in the net present value of pledges (line17) and timing differences in the recording of gifts between the two systems (line 18).• Line 14 shows the net difference in valuation of gifts from outside trust agreements that are recordedin the contributor relations system at full value and may be reflected at present value in the financialstatements. Lines 15 and 16 identify trusts in which Cornell shares an interest with the donors. Whilethe gifts are reflected at full value in the contributor relations system, Cornell’s financial statementsrecognize the liability owed to the beneficiaries of these trusts. Line 17 reflects the net present value ofunconditional promises to give (pledges) that were recorded in the financial statements but not treatedas cash gifts in the contributor relations system. Lines 18 and 19 identify other periodic adjustments.• Some of these exclusions—all of which are based on the reporting standards appropriate for eachrecord—are entire (e.g., the inclusion of pledges in the financial statements and the exclusion of suchpromises from the cash gifts of the contributor relations system). Others are partial (e.g., the recognitionin the financial statements of the interest that beneficiaries may have in split-interest agreements).71