REPORT DIGEST IMSA FUND FOR ADVANCEMENT OF EDUCATION FINANCIAL AUDIT FOR THE YEAR ENDED JUNE 30, 2016 Release Date: January 12, 2017 FINDINGS THIS AUDIT: 0 FINDINGS LAST AUDIT: 0 State of Illinois, Office of the Auditor General FRANK J. MAUTINO, AUDITOR GENERAL To obtain a copy of the Report contact: Office of the Auditor General, Iles Park Plaza, 740 E. Ash Street, Springfield, IL 62703 (217) 782-6046 or TTY (888) 261-2887 This Report Digest and Full Report are also available on the worldwide web at www.auditor.illinois.gov INTRODUCTION The IMSA Fund for Advancement of Education (Fund) was incorporated February 6, 1986 as an Illinois not-for-profit corporation. The Fund serves as the primary source of private funding for the Illinois Mathematics and Science Academy (Academy). The primary functions of the Fund are to raise funds from the private sector, oversee the management and distribution of the Fund’s assets and enrich the Academy’s education programs. Private sector contributions also provide resources to enhance the Academy’s continuing development as an educational laboratory for schools and teachers throughout the State. There were no findings disclosed during our audit. AUDITOR’S OPINION Our auditors stated the financial statements of the IMSA Fund for Advancement of Education as and for the year ended June 30, 2016 are presented fairly in all material respects. FRANK J. MAUTINO Auditor General FJM:JGR SPECIAL ASSISTANT AUDITORS Our Special Assistant Auditors for this audit were Washington, Pittman & McKeever, LLC.