No t e s t o Co n s o l i d a t e d F i n a n c i a l S t a t eme n t s J u n e 3 0 , 2 0 2 2 a n d 2 0 2 1 Changes in endowment net assets, including endowment-related pledges receivable of $39.2 million, for the fiscal year ended June 30, 2022, consisted of the following (in thousands): Without Donor Restrictions With Donor Restrictions 2022 Total Net assets, beginning of year $ 66,310 $ 160,684 $ 226,994 Investment return: Investment income 837 1,491 2,328 Net depreciation (realized and unrealized) (12,243) (21,690) (33,933) Total investment return (11,406) (20,199) (31,605) Contributions 1,102 9,651 10,753 Appropriation of endowment assets for expenditure (1,867) (3,509) (5,376) Net assets, end of year $ 54,139 $ 146,627 $ 200,766 Changes in endowment net assets, including endowment-related pledges receivable of $37.8 million for the fiscal year ended June 30, 2021, consisted of the following (in thousands): Without Donor Restrictions With Donor Restrictions 2021 Total Net assets, beginning of year $ 51,008 $ 123,143 $ 174,151 Investment return: Investment income 763 1,172 1,935 Net appreciation (realized and unrealized) 15,118 27,816 42,934 Total investment return 15,881 28,988 44,869 Contributions 925 11,526 12,451 Appropriation of endowment assets for expenditure (1,504) (2,973) (4,477) Net assets, end of year $ 66,310 $ 160,684 $ 226,994 The composition of endowment net assets, including endowment-related pledges receivable of $39.2 million, by type as of June 30, 2022, was as follows (in thousands): Without Donor Restrictions With Donor Restrictions 2022 Total Donor-restricted: Portion of perpetual funds that is required to be retained permanently by explicit donor stipulation1 $ - $ 106,315 $ 106,315 Term endowment funds subject to a time or purpose restriction2 - 40,312 40,312 Board-designated 54,139 - 54,139 Total net assets $ 54,139 $ 146,627 $ 200,766 1 includes endowment-related pledges of $39.1 million 2 includes endowment-related pledges of $0.1 million 36
RkJQdWJsaXNoZXIy NDE4MDg=