KEAN UNIVERSITY FoUNdATIoN
KEAN UNIVERSITY FoUNdATIoN
KEAN UNIVERSITY FoUNdATIoN
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Kean University Foundation, Inc.<br />
Statements of Financial Position<br />
Year Ending June 30, 2008<br />
ASSETS 2008 2007<br />
Cash and Cash Equivalents $2,730,294 $1,650,310<br />
Investments (at fair market value) $12,236,247 $12,727,399<br />
Contributions Receivable, Net $3,372,332 $3,097,615<br />
Cash Surrender Value life Insurance policy $202,692<br />
property and Equipment, Net $192,114 $205,500<br />
other Receivables $39,016 $5,002<br />
prepaid Expenses $43,988 $29,699<br />
Securities Held for gEAR Up Scholarship Fund $1,545,318 $1,768,306<br />
TOTAL ASSETS $20,362,001 $19,483,831<br />
LIABILITIES & NET ASSETS<br />
LIABILITIES<br />
Accounts payable and accrued expenses $319,037 $383,367<br />
Annuity payable liability $722,956 $516,800<br />
gEAR Up Scholarship Fund Agency Account $1,545,318 $1,768,306<br />
TOTAL LIABILITIES $2,587,311 $2,668,473<br />
NET ASSETS<br />
’08<br />
Financials<br />
Unrestricted $1,159,076 $1,094,313<br />
Temporarily Restricted $5,800,206 $6,579,714<br />
permanently Restricted $10,815,408 $9,141,331<br />
TOTAL NET ASSETS $17,774,690 $16,815,358<br />
TOTAL LIABILITIES & NET ASSETS $20,362,001 $19,483,831<br />
Kean University Foundation<br />
Annual Report 2008<br />
10
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