2002 Foundation Financial Report
The NIACC Foundation received $1,130,644 in 2002.
Total assets are over $9 million. Approximately 15 percent is
invested in North Iowa financial institutions.
The rest is in The
Commonfund, a nonprofit membership corporation organized and operated by and
for its member colleges, universities and independent schools. The Commonfund
provides investment management services exclusively for educational
institutions.
A member since 1985, NIACC is the first community
college in Iowa and one of the few community colleges in the country to belong
to The Commonfund.
Click here to view the
NIACC Foundation's Annual Asset Performance.
Balance Sheet
| Assets |
|
|
|
| |
Cash and Certificates of Deposit |
|
$1,383,352 |
| |
Investments - The Commonfund |
|
6,187,038 |
|
Pledges |
|
458,581 |
|
Other Assets |
|
1,080,632 |
| Total Assets |
|
|
$9,109,603 |
|
|
|
|
| Liabilities & Fund Balances |
|
|
|
| Liabilities |
|
|
$127,594 |
| Fund Balances |
|
|
|
|
Unrestricted Funds |
$1,104,043 |
|
|
Charitable Annuity Fund |
5,337 |
|
|
Permanent Endowments |
2,144,595 |
|
|
Endowment Challenge Fund |
2,650,770 |
|
|
Term Restricted Funds |
2,470,253 |
|
|
Board Designated Funds |
607,011 |
|
| Total Fund Balances |
|
|
$8,982,009 |
|
|
|
|
| Total Liabilities & Fund Balances |
|
|
$9,109,603 |
| Expenditures and Allocations |
$1,130,644 |
| Muse Scholarships |
$211,200 or 18.7% |
| Scholarships |
$269,833 or 23.9% |
| Administration |
$43,905 or 3.8% |
| Endowments and Allocations |
$75,703 or 6.7% |
| Special Projects |
$530,003 or 46.9% |
|
|
| Receipts |
$1,130,644 |
| Muse Fund |
$205,825 or 18.2% |
| Earnings |
$342,184 or 30.3% |
| Donations |
$582,635 or 51.5% |
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