Clearly Boldly Unequivocally - The University of Montana Foundation
Clearly Boldly Unequivocally - The University of Montana Foundation
Clearly Boldly Unequivocally - The University of Montana Foundation
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
the university <strong>of</strong> montana <strong>Foundation</strong> 2008 Financial Report to donors<br />
FOUNDATION ASSETS<br />
A major component <strong>of</strong> the <strong>University</strong> <strong>of</strong> <strong>Montana</strong><br />
<strong>Foundation</strong>’s mission is to effectively administer,<br />
invest and distribute funds privately donated for use by<br />
<strong>The</strong> <strong>University</strong> <strong>of</strong> <strong>Montana</strong>.<br />
<strong>The</strong> <strong>Foundation</strong>’s assets are held and managed in a variety<br />
<strong>of</strong> ways (see graph, right). <strong>The</strong> majority <strong>of</strong> the <strong>Foundation</strong><br />
assets are held in its LONG TERM INVESTMENT<br />
PORTFOLIO. Most funds held in this portfolio<br />
are re lated to endowed gifts where assets are invested in<br />
perpetuity, with regular annual payments made in<br />
accordance with the donors wishes. A very small portion <strong>of</strong><br />
these funds are held in outside trusts and managed by others.<br />
OPERATING FUNDS PORTFOLIO includes funds given by donors<br />
for the immediate or near term use by the <strong>University</strong>. <strong>The</strong>se are<br />
amounts used to provide current year scholarships, support to a wide<br />
variety <strong>of</strong> <strong>University</strong> programs, or funding for the construction<br />
<strong>of</strong> new <strong>University</strong> facilities. Also included in Operating Funds are<br />
funds available for the direct operation <strong>of</strong> the <strong>Foundation</strong>.<br />
FOUNDATION<br />
DISBURSEMENTS<br />
<strong>The</strong> UM <strong>Foundation</strong> distributes funds to the <strong>University</strong> in<br />
four ways as directed by its donors. A gift may be Restricted<br />
or Unrestricted, Current or Endowed.<br />
RESTRICTED GIFTS are<br />
those whose use is designated<br />
by the donor at the time <strong>of</strong><br />
$200<br />
180<br />
160<br />
140<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 ’08<br />
Total Assets at<br />
Fiscal Year End<br />
(in millions)<br />
n Total Assets<br />
n Long-Term<br />
Investment Portfolio<br />
n Operating Funds<br />
Portfolio<br />
n Annuities Assets<br />
n Other Assets<br />
ANNUITY ASSETS are those donor funds used to generate annuities<br />
for their donors. <strong>The</strong>se assets are held and managed on<br />
behalf <strong>of</strong> the <strong>Foundation</strong> by an outside firm that also provides fund<br />
administration to the <strong>Foundation</strong>’s planned giving donors.<br />
Prior to 2005, Annuity Assets were held in the Long Term Investment<br />
Portfolio.<br />
OTHER ASSETS consist primarily <strong>of</strong> trust assets managed outside<br />
the <strong>Foundation</strong>, donated real estate and pledge receivables.<br />
$8<br />
7<br />
6<br />
5<br />
4<br />
3<br />
2<br />
1<br />
0<br />
’04<br />
’05 ’06 ’07 ’08<br />
2004 2005 2006 2007 2008<br />
Scholarships & Awards $2,661,188 $2,401,255 $2,634,370 $2,994,728 $3,513,964<br />
Academics & Institutional Support $4,277,498 $4,600,330 $5,588,301 $6,043,645 $7,866,354<br />
Facilities & Equipment $1,359,799 $2,169,890 $7,212,829 $4,730,999 $1,034,300<br />
Total: $8,298,485 $9,171,475 $15,435,500 $13,769,372 $12,414,618<br />
57
Change language