Annual Report
The University of New Hampshire Foundation, incorporated in the fall
of 1989 with the unanimous consent of the University System Board of Trustees,
is a 501(c)(3) nonprofit entity with a 170(b)(1)(A)(iv) "publicly
supported" status. The Foundation's Board of Directors includes alumni
and other individuals with a deep interest in the University of New Hampshire,
including three University System Trustees. The board, as a whole, represents
significant corporate and community experience and a commitment to service
and personal philanthropy. The board is dedicated to raising substantial
private gifts in support of university programs and priorities.
University of New Hampshire Foundation, Inc.
Annual Financial Report 2006-2007
(Dollars in thousands)
Condensed Statements of Net Assets
Balances as of |
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|
|
June 30, 2008 |
June 30, 2007 |
Assets |
||
Cash and cash equivalents |
$2,352 |
$1,789 |
investments and pledges receivable |
127,224 |
133,071 |
|
|
|
|
|
Total Assets |
$129,576 |
$134,860 |
|
|
|
|
Liabilities |
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Annuities payable and accrued expenses |
$2,717 |
$2,841 |
|
|
|
|
|
Total Liabilities |
$2,717 |
$2,841 |
|
|
|
|
Net Assets |
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Restricted - Nonexpendable |
$97,104 |
$89,997 |
Restricted - Expendable |
28,400 |
40,496 |
Unrestricted |
1,355 |
1,526 |
|
|
|
|
|
Total Net Assets |
$126,859 |
$132,019 |
Condensed Statements of Revenues, Expenses, and Changes in Net Assets
For the year ended |
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June 30, 2008 |
June 30, 2007 |
|
Operating Revenue |
||
Gifts and contributions |
$14,483 |
$11,233 |
Support from UNH for fundraising services rendered |
2,269 |
1,634 |
Endowment and investment income |
(6,984) |
19,141 |
| |
|
|
Total Operating Revenue |
9,768 |
32,008 |
Operating Expenses |
||
Distributions to UNH |
11,002 |
13,199 |
Salaries and other operating expenses |
3,926 |
3,202 |
Total Operating Expenses |
14,928 |
16,401 |
|
||
Operating Income |
(5,160) |
$15,607 |
|
||
Net Assets at Beginning of Year |
132,019 |
116,412 |
|
||
Net Assets at End of Year |
$126,859 |
$132,019 |
Overall Results
For the fiscal year ending June 30, 2008, the UNH Foundation has maintained a strong financial position. The market value of all endowment funds (including life income and annuity funds) was $125 million as of June 30, 2008. This represents a decrease of $5.6 million (4.2%) for the year. The endowment pool had a loss of (4.8%) and distributions were made in compliance with the Uniform Management of Institutional Funds Act.
NOTE: The financial statements of the University of New Hampshire Foundation Incorporated are audited by Pricewaterhouse Coopers, independent auditors. Complete copies of the audited financial statements, including all footnotes therein, are available from the Foundation upon request.
