Unaudited Balance Sheet as of December 31, 2005 and 2004
($000's)
| Assets |
12/31/05 |
12/31/04 |
 |
| Cash & cash equivalents |
16,118 |
12,678 |
| Accounts receivable |
49 |
343 |
| Accrued interest and dividends receivable |
108 |
91 |
| Contributions receivable, net |
21,995 |
51,706 |
| Contributions receivable from charitable remainder trusts |
3,861 |
3,493 |
| Investments |
700,132 |
647,203 |
| Investments held by trustee - Bear Creek |
2,742 |
3,576 |
| Property & equipment, net |
66,539 |
68,446 |
| Other assets |
1,582 |
1,737 |
|
| Total Assets
| $813,126 |
$789,273 |
|
| Liabilities
| |
|
|
| Accounts payable and accrued liabilities
| 3,239 |
3,342 |
| Deposits held for others |
428 |
627 |
| Funds held in trust for others |
2,146 |
2,764 |
| Liabilities under split-interest agreements |
30,976 |
30,749 |
| Custodial funds |
99,429 |
84,963 |
| Deferred revenue |
903 |
1,517 |
| Bank Borrowings |
6,500 |
750 |
| Capital lease liability |
4,997 |
6,116 |
| Bonds payable, net |
68,033 |
69,239 |
|
| Total Liabilities |
$216,651 |
$200,067 |
|
| Unrestricted net assets (see Note below) |
32,810 |
32,611 |
| Temporarily restricted net assets (see Note below) |
372,039 |
372,390 |
| Permanently restricted net assets (see Note below) |
191,626 |
184,205 |
|
| Total Net Assets |
$596,475 |
$589,206 |
|
| Total Assets |
$813,126 |
$789,273 |
Note on net asset restrictions: These are similar to "capital" and "equity" accounts on a private corporation's balance sheet. Listed this way since 1996 on non-profit balance sheets, they refer to gift designations by donors. During the past five years, over 99% of all gifts are "restricted" by donors in some way. Approximately 5,000 of these donor accounts are managed by the Foundation to fund University programs.
- Unrestricted net assets: Institutional financial strength is greatly enhanced by these undesignated net assets that provide unrestricted ongoing support.
- Temporarily restricted net assets: Those restricted for a specific purpose or time period. This category also includes the appreciated portion of permanently restricted net assets, generally comprised of "pure" endowments.
- Permanently restricted net assets: Assets subject to donor-imposed restrictions that will be maintained permanently by the Foundation. Values are generally equal to the Historic Gift Value, the value of the original gift, with unrealized investment gains held in the temporarily restricted asset category for donor designated use.
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