Foundation 2015-16 annual report
November 8, 2016
As Chair of the Appalachian State University Foundation Board, I am pleased to report on the annual performance of the Foundation for the fiscal year 2015-16. Donors consisting of alumni, parents, students, and friends gave $14.07 million to areas including but not limited to academics, athletics, and the arts.
I am encouraged by the ongoing support of our many donors to the University. Your continued investment in Appalachian is making a difference day in and day out for our students, faculty and staff.
Of our many successful areas of fundraising performance, the Yosef Club and The Appalachian Fund experienced large increases from previous years’ totals. Our third annual #iBackAPP Day united the Appalachian Community and raised $197,766.80 from 2,186 donors. The Yosef Club raised a total of $3,227,769 representing a 10% increase from the previous year.
These are just two of the many examples of donors and supporters giving to advance the mission of the University. Appalachian is an institution that offers a premier educational experience, and it is abundantly clear that our dedicated donors believe that investing in Appalachian is wise and warranted.
A final highlight of this past year includes the approval of the Connect NC Bond referendum that will create a new home for the Beaver College of Health Sciences. Our reputation for producing high quality graduates in the healthcare industry will only be bolstered by this facility.
As a donor and a volunteer, I have the privilege of seeing the difference that private support is making at Appalachian. I encourage all alumni, parents, students, and friends of this University to continue the support necessary to achieve all that we can on behalf of Appalachian.
With Appalachian Pride,
James “Rocky” Proffit
Chairman, Board of Directors
Support to the university
Fiscal year ending June 30, 2016 (in millions)
|Foundation net assets at beginning of year||$125.40|
|Net investment earnings||.18|
|University support and expenses|
|University program support||7.19|
|Total university support||16.55|
|Allowance for uncollectible receivables||0.57|
|Change in split interest obligations||0.22|
|Total university support and expenses||17.34|
|Foundation net assets at year-end||$123.12|