eager eagle
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RE: University Endowments
(01-29-2018 02:51 PM)DETLTU Wrote: (01-29-2018 12:34 PM)eager eagle Wrote: (01-28-2018 03:14 PM)TodgeRodge Wrote: new numbers are out
http://www.nacubo.org/Documents/research...lues-2.pdf
1). Rice rank #20 $5,814,444
2). Florida Atlantic rank #299 $215,954
3). ODU rank #301 $213,543
4). UTEP $212,206,545.70 http://www.utimco.org/scripts/PrivateEnd...mplist.asp
5). Charlotte rank #317 $202,793
6). Florida International rank #323 $196,281
7). north Texas state rank #366 $161,221
8). UTSA $157,800,126.48 http://www.utimco.org/scripts/PrivateEnd...mplist.asp
9). Western Kentucky rank #382 $152,539
10). Marshall rank # 422 $123,206
11). Middle Tennessee rank #473 $96,809
12). Southern Miss rank #480 $94,751
UAB not listed
LA Tech not listed
The Louisiana Legislative Auditor released within past few days the audit performed by a cpa firm in Shreveport which showed the Louisiana Tech endowment had assets of $32,393,350 as of fiscal year ending 6/30/2017.
From the report:
LOUISIANA TECH UNIVERSITY FOUNDATION. INC.
STATEMENTS OF FINANCIAL POSITION
JUNE 30. 2017 AND 2016
ASSETS 2017 2016
Cash and cash equivalents 15,965,061 15,109,517
Accounts receivable-Note 11 1,380,931 3,415,431
Contributions receivable, net-Note 6 5,760,035 1,558,664
Accrued interest receivable - 6,835
Investments-Notes 3 and 4 21,592,279 29,513,998
Fixed assets, net-Note 5 658,355 677,814
Other assets 395,088 347,961
Note receivable, long-term 11,054,000
Restricted assets-investments-Notes 3 and 4 42.951.643 40.234.258
Total assets 99.757.392 90.864.478
https://www.lla.la.gov/PublicReports.nsf...0170AD.pdf
Unless you are talking about net assets:
Net assets:
Unrestricted:
Undesignated 2,568,479 3,833,921
Invested in capital assets, net of related debt (925.596) (1.130.199)
1,642,883 2,703,722
Temporarily restricted-for specific purposes 10,709,327 17,216,265
Permanently restricted-endowment-Note 12 30.651.132 29.898.408
Total net assets 43.003.342 49.818.395
The net assets do not include Endowed chairs or professorships that received state matching funds though. Not sure where you got your $32,000,000 number. I thought it might be the endowed chairs and professorships that recieved the state matching funds, but that number doesn't match either:
"Funds administered by the Foundation on behalf of Louisiana Tech University are not commingled with funds belonging to the Foundation. Classified as amounts due to Louisiana Tech University at June 30, 2017 and 2016 is $38,771,643 and $36,234,258, respectively, related to certain endowed chairs and professorships matched by the State of Louisiana. Initially, the donor portion of these funds is recorded as contributions to the Foundation. Once the state matching is received, the donor portion is deducted from the permanently restricted, temporarily restricted, and unrestricted net assets of the Foundation and reflected as due to Louisiana Tech University. "
If you check page 15, last figure bottom right, it states endowment net assets amount as $32,393,350 and explains the 2017 changes. That figure IS INCLUDED in the $38,771,643 Due to Louisiana Tech University as liability. The $32mil figure is accumulative and includes donations plus state matching funds that are owed to the school to pay for whatever the donor designated. By the way, did you guys finally find out how the new pressbox and suites were paid for? Well, foundation put up $11,050,000 which is to be paid back in whatever manner the athletic dept can afford. This would include rentals, etc but no set amount or schedule for payments. It is an interest bearing note though and could create a problem as principal increases if not paid.
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