Clearly Boldly Unequivocally - The University of Montana Foundation
Clearly Boldly Unequivocally - The University of Montana Foundation
Clearly Boldly Unequivocally - The University of Montana Foundation
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60<br />
THE UNIVERSITY OF MONTANA FOUNDATION<br />
CONDENSED STATEMENTS OF ACTIVITY<br />
For the Year Ended June 30, 2008<br />
With Comparative Totals for the Year Ended June 30, 2007<br />
REVENUES, GAINS AND OTHER SUPPORT<br />
TEMPORARILY PERMANENTLY TOTALS<br />
UNRESTRICTED RESTRICTED RESTRICTED 2008 2007<br />
Contributions 747,855 25,141,987 4,665,672 30,555,514 13,885,291<br />
Market Returns 812,296 (7,455,515) - (6,643,219) 17,775,244<br />
Contract for Services 400,000 - - 400,000 278,000<br />
Other 577,604 691,631 - 1,269,235 1,168,982<br />
Net Assets Released from Restrictions -<br />
Satisfaction <strong>of</strong> Program Restrictions 14,483,829 (14,483,829) - - -<br />
Total Revenues, Gains and<br />
Other Support 17,021,584 3,894,274 4,665,672 25,581,530 33,107,517<br />
EXPENSES<br />
Program Services<br />
<strong>University</strong> support<br />
Academics and institutional 7,866,354 - - 7,866,354 6,043,645<br />
Capital expenses 1,034,300 - - 1,034,300 4,730,999<br />
Scholarships and awards 3,513,964 - - 3,513,964 2,994,728<br />
Supporting Services<br />
Fundraising 2,344,866 - - 2,344,866 2,369,225<br />
Administrative and general 2,393,746 - - 2,393,746 1,564,483<br />
Total Operating Expenses 17,153,230 - - 17,153,230 17,703,080<br />
Change in Net Assets Before<br />
Non-Operating Items (131,646) 3,894,274 4,665,672 8,428,300 15,404,437<br />
NON-OPERATING REVENUES (EXPENSES)<br />
Beneficiary Payments and Liability Changes (26,791) (292,852) - (319,643) (367,646)<br />
Reclassification <strong>of</strong> Net Assets (338) (902,991) 881,451 (21.878) -<br />
Change in Net Assets (158,775) 2,698,431 5,547,123 8,086,779 15,036,791<br />
NET ASSETS<br />
Beginning <strong>of</strong> Year 6,720,732 67,894,838 77,808,302 152,423,872 138,238,475<br />
Correction <strong>of</strong> Accounting Error - - - - (851,394)<br />
Beginning <strong>of</strong> Year, As Corrected 6,720,732 67,894,838 77,808,302 152,423,872 137,387,081<br />
End <strong>of</strong> Year $6,561,957 $70,593,269 $83,355,425 $160,510,651 $152,423,872<br />
Notes:<br />
• Investment Income consists <strong>of</strong> interest and dividends, and realized and unrealized gains/(losses)<br />
• During fiscal year 2008 certain installment dates on pledges were changed resulting in an adjustment in prior years.
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