November 21, 2011
It is my privilege to share this annual report of the Appalachian State University Foundation. Donors take great pride in Appalachian evidenced by more than $16.6 million in cash, securities and in-kind gifts donated to the Foundation and university in fiscal year 2010-11.
In the current economic environment, it is imperative for our university to raise private dollars to offer life-changing opportunities for our students. Our state, nation and the world need great leaders who can make a difference in their communities and beyond.
The university publicly launched the Campaign for Appalachian in October of this year with a goal of $200 million. At the time of the launch the Foundation had raised $117 million toward that ultimate goal.
Gifts to the campaign support student scholarships and fellowships, faculty recruitment and research, international opportunities, first-class facilities, and co-curricular programs that strengthen classroom learning and the Appalachian Experience.
The Appalachian Experience encompasses everything that makes this place so extraordinary: the engaging academic environment, the dynamic and integrated arts programs, championship-winning Mountaineer athletics, and our two best natural resources - the people and the mountains. Students are provided the chance to develop as unique individuals within the support of the Appalachian Family.
Wayne D. Duncan
Chairman, Board of Directors
| Foundation net assets at beginning of year |
$85.41
|
| Income | |
| Contributions |
13.20
|
| Net investment income |
9.26
|
| Other income |
0.33
|
| Total Income |
22.79
|
| University support and expenses | |
| University program support |
6.41
|
| Scholarship grants |
3.64
|
| University advancement |
1.05
|
| Administrative expense |
.13
|
| Total University support |
11.23
|
| Allowance for uncollectible receivables |
0.38
|
| Change in split interest obligations |
(0.37)
|
| Total University support and expenses |
11.24
|
| Foundation net assets at year-end |
$96.96
|
Contributions by constituency
Support to the university
