2015-2016 Annual Report
2015-2016 Annual Report
When the financial future is hazy and the forecast shows no sign of rain, FIU must continue to deliver the high quality
education and community support for which it is known. A stable financial base is vital to our ability to weather
the ebbs and flows of external funding and declining state support, and prosper.
In fiscal year 2015-2016, The FIU
Foundation’s investment portfolio had losses of 2.7 percent. As of June 30, 2016, the FIU Foundation’s endowment
market value was $174 million, with four percent of that amount (based on the average return over 12 consecutive
quarters) made available for spending for fiscal year 2016-2017.
We are working hard to build capacity and be more strategic in our recruitment, delivery of services, and our stewardship, while increasing the depth and breadth of our impact.
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FLORIDA INTERNATIONAL UNIVERSITY
FOUNDATION, INC. AND SUBSIDIARIES (A Direct Support Organization) CONSOLIDATED STATEMENTS OF FINANCIAL POSITION JUNE 30, 2016 AND 2015 |
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| 2016 | 2015 | |||||||
| Assets: | ||||||||
| Cash and cash equivalents | $8,338,074 | $11,972,635 | ||||||
| Contributions receivable, net | 79,648,946 | 82,383,328 | ||||||
| Investments | 229,073,465 | 231,026,551 | ||||||
| Bond issuance costs, net | 72,711 | 85,181 | ||||||
| Other assets | 1,305,344 | 1,665,398 | ||||||
| Fixed assets, net | 17,566,435 | 18,190,373 | ||||||
| Total Assets | $336,004,975 | $345,323,466 | ||||||
| Liabilities | ||||||||
| Accounts payable and other liabilities | $417,206 | $452,193 | ||||||
| Deferred revenue | 255,000 | 1,500,700 | ||||||
| Due to Florida International University | 2,539,417 | 2,154,133 | ||||||
| Split-interest obligations | 882,014 | 893,615 | ||||||
| Funds held for others | 1,962,240 | 12,190 | ||||||
| Note payable | 5,420,000 | 6,165,000 | ||||||
| Total Liabilities | $11,475,877 | $11,177,831 | ||||||
| Net Assets: | ||||||||
| Unrestricted | 27,009,655 | 32,027,997 | ||||||
| Temporarily restricted | 87,854,851 | 95,709,060 | ||||||
| Permanently restricted | 209,664,592 | 206,408,578 | ||||||
| Total Net Assets | $324,529,098 | $334,145,635 | ||||||
| Total Liabilities and Net Assets | $336,004,975 | $345,323,466 | ||||||