Financial Report

The University of New Hampshire Foundation, Inc. is an independent, 501(c)(3) nonprofit entity with 170(b)(1)(A)(iv) “publicly supported” status. The purpose of the Foundation is to coordinate the acquisition of private support, with particular emphasis on building endowment, for the benefit of the University of New Hampshire. Gifts are solicited from alumni, friends, corporations, private and public foundations, and volunteer-support organizations. Since its incorporation in 1989, the Foundation has raised more than $260.9 million in support of UNH programs, faculty members, and students, including an endowment of $129 million.

Current Fund Revenues and Expenditures

University of New Hampshire Foundation, Inc.
Annual Financial Report 2010-2011

CONDENSED STATEMENTS OF NET ASSETS
(dollars in thousands)

  Balances as of
 
ASSETS
June 30, 2011
June 30, 2010
Cash and cash equivalents
$10,059
$8,108
Investments and pledges receivable
134,503
114,164
 
TOTAL ASSETS
$144,562
$122,272
     
LIABILITIES    
Annuities payable and accrued expenses
$2,714
$2,668
 
TOTAL LIABILITIES
$2,714
$2,668
     
NET ASSETS    
Restricted Nonexpendable
$107,324
$104,023
Restricted Expendable
31,712
13,148
Unrestricted
2,812
2,433
 
TOTAL NET ASSETS
$141,848
$119,604

 

CONDENSED STATEMENTS OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS
(dollars in thousands)

  For the year ended
 
OPERATING REVENUE
June 30, 2011
June 30, 2010
Gifts and contributions
$9,890
$11,877
Support from UNH for fundraising services rendered
3,449
3,359
Endowment and investment income
23,706
12,869
     
TOTAL OPERATING REVENUE
37,045
28,105
 
OPERATING EXPENSES    
Distributions to UMN
9,866
10,117
Salaries and other operating expenses
4,935
4,931
 
TOTAL OPERATING EXPENSES
14,801
15,048
 
OPERATING INCOME
22,244
13,057
     
NET ASSETS AT BEGINNING OF YEAR
119,604
106,547
 
NET ASSETS AT END OF YEAR
141,848
119,604

Overall Results

For the fiscal year ending June 30, 2011 the Foundation earned significant positive returns greater than the previous year. The market value of all endowment funds (including life income and annuity funds) was $133.5 million as of June 30, 2011, which represents an increase of $20.6 million (18.3%) for the year. The endowment pool had a gain of (21.4%) and distributions were made in compliance with (UPMIFA).

NOTE: The financial statements of the University of New Hampshire Foundation, Inc. are audited by PricewaterhouseCoopers, independent auditors. Complete copies of the audit-ed financial statements, including all footnotes therein, are available from the Foundation upon request.