REPORT DIGEST

 

NORTHERN ILLINOIS UNIVERSITY FOUNDATION

 

FINANCIAL AUDIT

For the Year Ended:

June 30, 2005

 

 

 

 

 

Release Date:

February 2, 2006

 

 

State of Illinois

Office of the Auditor General

 

WILLIAM G. HOLLAND

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 is also available on

the worldwide web at

http://www.state.il.us/auditor

 

 

 

 

INTRODUCTION

 

††††† Our report covers the financial audit for the period ending June 30, 2005.

 

 

 

AUDITORSí OPINION

 

 

††††† Our auditors state the Foundationís financial statements as of June 30, 2005 are fairly presented in all material respects.

 

 

 

 

 

 

††††††††††††††††† ______________________________________

††††††††††††††††††† WILLIAM G. HOLLAND, Auditor General

 

†† WGH:TLK:PP

 

 

SPECIAL ASSISTANT AUDITORS

 

Clifton Gunderson, LLP were our special assistant auditors on this audit.

 

 

 

 

 

 

 

 

 

 

  

 

 

{Expenditures and Activity Measures are summarized on the reverse page.}

 

 

 

 

NORTHERN ILLINOIS UNIVERSITY FOUNDATION

FINANCIAL AUDIT

For the Year Ended June 30, 2005

 

FINANCIAL OPERATIONS (ALL FUNDS)

FY 2005

FY 2004

REVENUES (Operating and Nonoperating)

Gifts.....................................................................

Investment Income...............................................

Services Contract Revenue from NIU...................

All Other Income.................................................

††††† Total Revenues..............................................

 

$15,598,414

3,324,967

531,719

1,196,671

$20,651,771

 

$13,533,131

4,330,233

511,870

293,911

$18,669,145

EXPENSES

Scholarships and Fellowships...............................

Support for University Departments and Programs

Fundraising..........................................................

Administrative Services provided to NIU..............

Total Expenses.....................................................

 

Increase in Net Assets

 

$731,883

8,673,751

1,058,418

273,267

$10,737,319

 

$9,914,452

 

$568,306

9,740,720

1,023,896

239,608

$11,572,530

 

$7,096,615

SELECTED ACCOUNT BALANCES (ALL FUNDS)

AT JUNE 30, 2005

AT JUNE 30, 2004

Cash and Cash Equivalents...................................

Investments..........................................................

Capital assets.......................................................

Building Construction in Progress..........................

Other Assets........................................................

Total Assets.........................................................

 

Accounts Payable................................................

Deposits Held for NIU Alumni Association...........

Endowment Administered for NIU.......................

Other Liabilities....................................................

Total Liabilities.....................................................

 

Unrestricted Fund Balance...................................

Restricted Nonexpendable...................................

Restricted Expendable..........................................

Invested in capital assets.......................................

Total Net Assets..................................................

$ 1,889,047

46,584,909

4,232,273

5,015,337

3,749,614

$61,471,180

 

$2,357,029

2,441,270

2,962,084

1,298,860

$9,059,243

 

$5,083,153

26,680,881

16,415,630

4,232,273

$52,411,937

$ 1,235,634

40,881,422

4,227,820

474,238

1,661,816

$48,480,930

 

$166,387

2,873,070

2,707,244

236,744

$5,983,445

 

$4,593,383

20,096,250

13,580,032

4,227,820

$42,497,485

FOUNDATION PRESIDENT

During Audit Period:Mallory M. Simpson

Currently:Mallory M. Simpson