Clearly Boldly Unequivocally - The University of Montana Foundation

More documents

Recommendations

Info

the gift. The Foundation maintains more than 1,400 distinct funds that enable donors a great deal of flexibility in identifying how their donation is employed. UNRESTRICTED GIFTS are made available to the University for its areas of greatest need. Some unrestricted gifts fund a small portion of the operations of the Foundation. CURRENT GIFTS are those in which the donated amount is immediately available for use. ENDOwED GIFTS are pooled and invested in the Foundation’s Long Term Investment Portfolio. In Fixed Income 13.8% Alternative Investments 24.0% The Investment Committee, acting with the assistance of an outside investment consultant, has established an asset allocation for use in managing the Foundation’s Long Term Investment Portfolio. The actual allocation at June 30, 2008, is illustrated above. Working with its investment consultant, the Committee selects and employs investment managers and investment vehicles (most often institutional mutual funds) to invest the portfolio within each asset allocation. The investment performance of the Long Term Investment Portfolio through June 30, 2008, was as follows: accordance with its spending policy, 4.25 percent of amounts so invested are made available for spending for a use designated by the donor at the time of the gift. As the table (at the bottom of page 57) illustrates, for the fiscal year ended June 30, 2008, the Foundation distributed $12.4 million to fund scholar ships, academic support and facilities and equipment. Disbursement levels vary from year-to-year depending upon donation levels as well as the timing of University needs. FOUNDATION INVESTMENTS International Equity 24.2% Mid-Cap Large-Cap Equity 19.8% Equity 18.2% The University of Montana Foundation Board of Trustees, through its Investment Committee, oversees the management Asset Allocation at June 30, 2008 of the Foundation’s Long Term Investment Portfolio and Operating Funds Portfolio. The Board’s investment policy for these portfolios is outlined in the Statement of Investment Objectives and Guidelines. The policy for the Long Term Investment Portfolio is designed to provide a stable, predictable and growing stream of investment income for current use while preserving (after inflation) earnings power of the Foundation’s endowment assets for the future. 58 Investment Results for the Period Ending June 30, 2008 BALANCE 1 YR 3 YR 5 YR Long Term Investment Portfolio $119,955,000 -6.6% 6.6% 7.8% Common Index -5.2% 4.3% 6.1% The Common Index is comprised: 60% S&P 500 Index and 40% Lehman Brothers Aggregate Bond Index. Investment Managers at June 30, 2008 Large-Cap Equity Vanguard S&P 500 Index Mid-Cap Equity AXA Rosenburg Small/Mid Cap Vanguard Mid Cap VIPERS International Equities Artisan International DFA International Small Cap Value DFA International Value Vanguard Total International Stock Fixed Income Pacific Income Advisors Alternative Investments Hedge Funds Common Sense Partners Offshore Pine Grove Offshore Fund Private Equity Coller International Partners V Commonfund Capital Natural Resources VII Q-BLK Real Assets II Siguler Guff Dristressed Opportunities Fund III Northgate IV Amberbrook V Real Estate Cohen & Steers Global Real Estate Securities Diversified PIMCO All Assets
THE UNIVERSITY OF MONTANA FOUNDATION CONDENSED STATEMENTS OF FINANCIAL POSITION June 30, 2008 and 2007 As Restated ASSETS 2008 2007 Cash and Cash Equivalents 10,818,292 $ 7,653,904 Investments 147,900,987 153,759,828 Contributions Receivable, Net of Allowance 22,536,588 13,545,097 Property, Building and Equipment, Net Accumulated Depreciation 4,171,753 4,501,527 Other Assets 1,032,660 877,217 Total Assets 186,460,280 180,337,573 LIABILITIES AND NET ASSETS Accounts Payable and Accrued Expenses 483,605 $ 138,577 Compensated Absences 172,980 179,168 Notes Payable to Bank 213,842 338,573 Liabilities to External Beneficiaries 2,799,362 2,904,226 Custodial Funds 22,279,840 24,353,157 Total Liabilities 25,949,629 27,913,701 NET ASSETS Unrestricted Designated for board reserve 870,067 806,097 Undesignated 5,691,890 5,914,635 6,561,957 6,720,732 Restricted Temporarily restricted 70,593,269 67,894,838 Permanently restricted 83,355,425 77,808,302 153,948,694 145,703,140 Total Net Assets 160,510,651 152,423,872 Total Liabilities and Net Assets $186,460,280 $ 180,337,573 Notes: • The Foundation was audited by Anderson ZurMuehlen and Co. P.C., and received an unqualified opinion on its financial statements. • Investments are reported at market value as of June 30, 2008 and 2007. • Unrestricted, Undesignated Net Assets consist primarily of related use properties or equipment that cannot be liquidated in the near term. 59
Page 1 and 2:
Special Invest in Discovery Campaig
Page 3 and 4:
Contents 01 Special Invest in Disco
Page 5 and 6:
Brightly After five extraordinary y
Page 7 and 8:
To the friends and supporters of Th
Page 9 and 10: Singing in celebration of their gif
Page 11 and 12: Invest in Discovery Campaign 24% 7%
Page 13 and 14: The Bernard Osher Foundation Bill a
Page 15 and 16: David King and Jeanne McNulty-King
Page 17 and 18: David S. Forbes Richard L. and Maur
Page 19 and 20: UM Rodeo Team University of Idaho D
Page 21 and 22: Insured Titles, LLC Gerald L. and K
Page 23 and 24: Fiscal Year 2008 Annual Report on t
Page 25 and 26: what they learn from studies in Mon
Page 27 and 28: Ardently Committed to reshaping edu
Page 29 and 30: UM students graduate, then hit the
Page 31 and 32: John Hilberry Museum Consulting, Ne
Page 33 and 34: Bonnie Allen with selected elements
Page 35 and 36: Phil Janik t Received UM Alumni Ass
Page 37 and 38: A variety of facilities keep both a
Page 39 and 40: Alfred P. and Loralee West A. Warre
Page 41 and 42: oscar J. Craig Heritage Society Nam
Page 43 and 44: Paula Bowman Porter ’63 Joan S. P
Page 45 and 46: Dean E. Edwin ’73 and Joyce P. Ec
Page 47 and 48: Bill L. ’63 and Phyllis Lindgren
Page 49 and 50: Randolph Jacobs ’35 Samuel Jaksic
Page 51 and 52: Big Sky Specialized Carriers, Inc.
Page 53 and 54: Kristine Oakland Houtonen ’73 Jos
Page 55 and 56: NorthWestern Energy Northwestern Mu
Page 57 and 58: Ted Waddell and Lynn Campion Phylli
Page 59: the university of montana Foundatio
Page 63 and 64: The University of Montana Foundatio
show all

Clearly Boldly Unequivocally - The University of Montana Foundation

Create successful ePaper yourself

Delete template?

Save as template?