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CSULB 49 ER FOUNDATION 2013 2014 ANNUAL RePORT

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Page 1: CSULB 49 FOUNDATION · 2014. 12. 2. · DECLARE: The Campaign for CSULB aims to raise a total of $225 million by December 2015, and we are well on our way to achieving this ambitious

CSULB 49ER FOUNDATION

2013 - 20 14 A n n u A l R e p o R t

Page 2: CSULB 49 FOUNDATION · 2014. 12. 2. · DECLARE: The Campaign for CSULB aims to raise a total of $225 million by December 2015, and we are well on our way to achieving this ambitious

OUR MISSIONthe mission of the CSulB 49er Foundation is

to actively promote philanthropy and manage

donated resources for the advancement of CSulB.

CHIEF EXECUTIVE OFFICER’S MESSAGE

We have an amazing story to tell. As the home to more than 40,000 students,faculty and staff, and the launch pad for nearly 300,000 alumni, CSulB has apresence and an impact unlike that of any other university in the region. It’s timefor the Beach family to claim our contributions, to share our stories and to adver-tise our achievements. It’s time to DeClARe.

let me take a step back. As you probably know, public universities have seen ahuge shift in funding over the past decade. In this new era, financial sustainability isachieved through income diversification, and fundraising is an important part ofthat strategy.

DECLARE: The Campaign for CSULB aims to raise a total of $225 million by December 2015, and we are well on our way to achieving this ambitious goal. the campaign has already raised about $200 million—more than half for studentsupport—and as we enter the final and “public” phase of the campaign, we are in a push to raise that last $25 million.

But dollars raised are just one measure of success. the campaign also provides a platform for boosting Beach pride—for encouraging friends and alumni to reflect on the university’s importance in their lives and then to DeClARe theirsupport and appreciation for the Beach. Although CSulB has long been a majoreducational, cultural and community resource, in some ways we’re still a well-keptsecret. DeClARe gives us a way to strengthen the university’s image, to amplifyour messages and to reinforce ties to our stakeholders.

perhaps most important, this an opportunity to envision an even more amazing future for our university. think of all we’ve achieved over the past 65 years. Andnow imagine the possibilities if we can really leverage the power of philanthropy in the years to come. DECLARE: The Campaign for CSULB marks the beginning of this exciting new chapter.

thank you, as always, for your interest and support. Go Beach!

Sincerely,

Andrea taylor ’83Chief executive officerEarl Burns Miller Japanese Garden

Page 3: CSULB 49 FOUNDATION · 2014. 12. 2. · DECLARE: The Campaign for CSULB aims to raise a total of $225 million by December 2015, and we are well on our way to achieving this ambitious

CHAIR’S MESSAGEIt seems fitting that the launch of DECLARE: The Campaign for CSULBcoincides with the university’s milestone 65th anniversary. As we reflect on the achievements of the past six decades, it’s natural to wonder where the next 65 years will lead.

there is no doubt that, going forward, private giving will play a key role in maintaining affordability and excellence at CSulB. philanthropy provides the flexible income that allows the university to grow and build on its strengths. the DeClARe campaign will expand our base of private support, which, in turn, will add value to the Beach experience and to the degrees of our nearly300,000 alumni.

It is a privilege for me to be working with a dedicated group of board members to ensure that the university has the resources it needs to achieve its ambitiousgoals. My fellow board members and I are proud to contribute to the success of DeClARe by serving as campaign advocates and advisers, as well as by providing direct financial support.

Finally, as we think about the future of CSulB, we must also consider the role of endowments. endowments have helped shape society and are crucial for theadvancement of universities. our board takes very seriously its duty to provideskillful, thoughtful management of the CSulB endowment. perhaps Drew GilpinFaust said it best when she remarked, “[endowments] derive from our history and the dreams of those who have preceded us; they are in turn the vehicle thatenables us to project our own dreams into the future.”

I invite you to keep dreaming…and DeClARInG.

Sincerely,

Beverly o’neill ’52, ’56Board Chair

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Carlson/Bloc Tower

Page 5: CSULB 49 FOUNDATION · 2014. 12. 2. · DECLARE: The Campaign for CSULB aims to raise a total of $225 million by December 2015, and we are well on our way to achieving this ambitious

CSULB 49ER FOUNDATION

BoARD oF DIReCtoRS

Beverly O’Neill ’52, ’56Chair

3

Dennis Berryman ’61Chair, Audit Committee

Mary Alice BralyDirector

Kalien ClarkStudent Representative

Frank Colonna ’65Director

Jane Close ConoleyCSULB President

George Deukmejian Director

Patrick Goggin ’87, ’91Director

Cynthia Stamper Graff ’75Director

Georgia D. Griffiths ’73Director

Linda Haley ’72Director

Roberta Jenkins Director

Michael Losquadro Chief Operating Officer andSecretary

John Molina ’86Chair, Finance and InvestmentCommittee

Robert Murphy ’62Director

Anna W. Ngai ’74Director

Daniel O’ConnorFaculty Representative

Terry L. Rhodes ’62Director

Mary StephensChief Financial Officer

Mort StuhlbargChair, Ad Hoc Campaign Committee

Andrea Taylor ’83 Chief Executive Officer

Louise UklejaChair, Nominations Committee

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Ken lindgren lived his life doing what he loved best: mentoring students both as a math instructorand a water polo coach. to those who knew him,

it is no surprise that his legacy will continue to impactfuture generations.

“Ken was an outstanding educator, coach and mentor to so many in the long Beach community,” said Vic Cegles,long Beach State university’s athletic director. “his generosity and legacy will impact countless young men and women who participate in the Beach water poloprogram in the years ahead.”

professor Robert Mena, former Department of Mathematicschair, agreed. As a highly regarded math instructor ofmore than three decades, “lindgren cared deeply abouthelping young people attain success and meet his challenginghigh standards,” he said. “Ken made his students think andprocess what they were learning, which is the key to goodmathematical teaching.”

lindgren’s contributions to the university are indicative ofboth these passions.

As a men’s water polo coach, lindgren was a long Beachicon, known for pouring his time and energy into both the sport and its athletes, despite occasionally scarce resources. his gift to the 49er aquatics complex, renamedthe Kenneth e. lindgren Aquatics Center, will fund an upgraded facility and new lighting that will attract bothhigh-caliber student-athletes and exposure to largercrowds at games. lindgren also endowed an annual scholarship for men’s water polo.

“the aquatic center has been a big part of my life, here, atthe Beach,” said senior journalism student nick Rascon,currently a starter on the men’s water polo team. “throughcompetition, school and practice, I’ve learned accountabilityand time management, and Mr. lindgren’s gift will helpother players become successful student-athletes.”

ENDOWINGBoth BoDy AnD MInD

4

“[Ken’s] generosity and legacy will

impact countless young men and

women who participate in The Beach

water polo program in the years ahead.”

—Vic Cegles

Ken Lindgren (standing, right) coached men’s water polo for 24 seasons.

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In the Department of Mathematics and Statistics, the tutoring center was renamed the Kenneth e. lindgren Mathematics tutoring Center on nov. 5, 2014. thecenter’s primary focus, assisting students enrolled in lowerlevel math courses, reflects lindgren’s determination toengage students in a love for math.

his passion for teaching math also compelled lindgren toendow the lindgren Math teaching Assistant Scholarship,which will be awarded annually to the best departmentsenior teaching assistant who is starting his or her last yearof graduate studies in math. the goal is to encourageteaching assistants to improve their teaching practices andreward those who are passionate about instructing math.

lindgren, who is an alumnus (B.S., 1961, mathematics;M.A., 1962, secondary education), starred as a water poloplayer in 1959 and returned in 1975 to serve as head coachfor 24 seasons. In 2006, he was the interim head coach of the women’s program. During his tenure, his leadershipresulted in 34 All-Americans and eight olympic teammembers. he served as an assistant coach for uSA’solympic water polo team three times, leading to a silvermedal for the men’s team in 1984 and the women’s teamin 2000. he is an inductee of both the long Beach StateAthletics and uSA Water polo halls of Fame.

“My brother dedicated his life to water polo, and math was really important to him, too,” said lindgren’s brother,alumnus James e. lindgren (B.S., 1969, zoology). “heloved teaching, and he loved his years at CSulB.”

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MILLER FOUNDATION:THE LEGACY OF A NAME

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“Loraine and Earl always had a love for the university and its place in the community.”—Walt Florie, Jr.

Young Scientists’ Camp fifth and sixthgraders feed the koi while studying

the aquatic environment at the Earl Burns Miller Japanese Garden.

Teacher Lauren Belcher assists Young Scientists’ Camp third and fourth graders asthey explore the components of a mystery powder.

Young Scientists’ Camper Dina Miranda looks for evidence of gases being released as a result of photosynthesis.

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the definition of philanthropy is one who “makes an active effort to promote human welfare,” which is a fitting description of the Miller Foundation and its

founders, loraine Miller Collins and earl Burns Miller, whoselegacy has made a profound difference to CSulB.

the foundation is a longtime, staunch supporter of the university,wielding its financial largess across many areas of the campusand leaving indelible marks on students, community relationsand housing.

At a point in time when SteM education is vital to our country’sfuture, the organization’s annual contributions to the youngScientists’ Camp provide opportunities for children throughoutthe community to take part in hands-on exploration, discoveryand fun of various topics in the sciences. In 2011, the fundingwas extended to cover a special program for homeless childrenat long Beach’s Mary Mcleod Bethune transitional Center atthe Villages at Cabrillo. CSulB’s College of the Arts, universitylibrary, Department of Social Work and Center for ScholarshipInformation have also received funding from the Miller Foundation.

laura henriques, professor of science education and the youngScientists’ Camp director, recognizes the importance of thefoundation’s support. “thanks to them, close to 350 homelessyouth in long Beach have had the chance to spend two weeksexploring science, doing hands-on investigations, and learningabout college and SteM careers. It’s exciting to think of theimpact that this experience and science exposure can have onkids and their future. talk about making a difference and promotinghuman welfare!”

Several campus icons owe their existence to the foundation andthe generosity of loraine Miller Collins, daughter of long Beachbanker Charles e. huntington and his wife, Dora, who marriedearl Burns Miller, co-founder of one of Southern California’slargest construction firms. the Millers had no children but gainedsatisfaction in benefiting the community through the establishmentof the Miller Foundation. After earl died, loraine married formernewspaper publisher lawrence Collins.

the most noticeable focal point is the earl Burns Miller JapaneseGarden, established in 1978 in memory of Miller Collins’ late

husband. It provides a serene venue for visitors, weddings andsocial events, as well as an educational setting for Japanese cultural programs. each year, over 5,000 school children enjoya tour/field trip to the garden or participate in special programsarranged by the garden’s education department.

As a funder of the garden’s master plan study, the Miller Foundation is currently working with the venue on a first-phasedesign initiative, which entails building an educational site foruse as an interpretation center and guest services, and renovatingthe entrance.

In 2012, the organization funded a study to identify how toconserve water in the garden through improvements to irrigationand pond management and maintenance, resulting in substantialwater savings.

“the Miller Foundation has supported a plethora of projectsover the years and has made such a difference to the garden’sdevelopment and preservation,” commented Jeanette Schelin,director of the garden. “And it has provided much more than just monetary gifts. through sound counsel and the encouragement of investment by others, the foundation hasbeen a visionary partner at each stage of the garden’s growth.”

Miller Collins’ love of international culture led to the funding of the university’s International house (Ih) residence hall, with its two wings named for her and her father, Charles elmerhuntington. opened in 1987, Ih pairs American and internationalroommates in a modern, lodge-like setting that encouragesresidents to learn about each other’s cultures.

When Miller Collins died in 1991, she left her home near campus to serve as the university president’s residence—another reminder of her lasting imprint on CSulB.

“loraine and earl always had a love for the university and itsplace in the community,” said Walt Florie, Jr., the foundation’spresident and Ceo. “the Miller Foundation continues to focusits funding on not only the Japanese garden but programsCSulB offers that fit our strategic plan.”

7

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Now Sculpture By Piotr Kowalski

Page 11: CSULB 49 FOUNDATION · 2014. 12. 2. · DECLARE: The Campaign for CSULB aims to raise a total of $225 million by December 2015, and we are well on our way to achieving this ambitious

By t h e n u M B e R SINVESTINGIN THE FUTURE

the CSulB endowment is managed

by the CSulB 49er Foundation

board of directors. It is comprised of

hundreds of individual funds established by

donors for a particular purpose. Some of

these funds support scholarships, while

others support annual lectures, departments

and programs.

the endowment is invested in a combination

of equities, fixed-income instruments, real

estate and cash equivalents, with the goal of

achieving the maximum rate of return with

an acceptable, prudent level of risk. As of

June 30, 2014, the endowment was valued

at $ 57,000,071.

U.S. Core Equity18.99%

U.S. Defensive Equity18.63%

Small Cap Equity4.94%

Commodities4.60%

International Fund17.88%

Emerging Markets 2.94%

Real Estate4.81%

Fixed Income/Cash27.20%

2006 - $ 30,340,575

2007 - $ 36,072,454

2008 - $ 36,616,440

2009 - $ 31,070,238

2010 - $ 36,563,865

2011 - $ 46,269,016

2012 - $ 44,084,299

2013 - $ 50,528,887

2014 - $ 57,000,071

9

2006 2007 2008 2009 2010 2011 2012 2013 2014

60 million

50 million

40 million

30 million

20 million

10 million

0

ANNUALIZED RETURNSAS OF JUNE 30, 2014

Fiscal YTDJuly 1, 2013 - June 30, 2014 14.10%

3 Year 7.50%

5 Year 11.90%

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Hall of Science

Page 13: CSULB 49 FOUNDATION · 2014. 12. 2. · DECLARE: The Campaign for CSULB aims to raise a total of $225 million by December 2015, and we are well on our way to achieving this ambitious

STATEMENT OF NET POSITION

ASSETS

June 30CURRENT ASSETS 2014 2013

Cash and cash equivalents $ 11,820,142 7,467,064Short-term investments 936,717Accounts receivable, net 167,686 590,155pledges receivable, net 1,791,552 1,085,946prepaid expenses and other assets 103,213 137,616

14,819,310 9,280,781

NONCURRENT ASSETSpledges receivable, net 2,573,670 2,606,054endowment investments 57,000,071 50,528,887

59,573,741 53,134,941

TOTAL ASSETS 74,393,051 62,415,722

LIABILITIES

CURRENT LIABILITIESAccounts payable 301,906 16,866other liabilities 1,105,390 201,199

1,407,296 218,065

NET POSITION

NET POSITIONRestricted for:

nonexpendable – endowments 44,963,041 43,262,228expendable:Scholarships and fellowships 3,583,863 4,323,555other 19,556,912 10,649,781

unrestricted 4,881,939 3,962,093

TOTAL NET POSITION $ 72,985,755 62,197,657

The above financial statements were audited by Windes, Inc. The full set of audited financial statements is available upon request. The accompanying notes are an integral part of these financial statements. 11

CSULB 49er Foundation 2013-2014 Annual Report

Page 14: CSULB 49 FOUNDATION · 2014. 12. 2. · DECLARE: The Campaign for CSULB aims to raise a total of $225 million by December 2015, and we are well on our way to achieving this ambitious

STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION

FoR the yeAR enDeD June 30,REVENUES 2014 2013

operating revenues $ 897,133 841,153

EXPENSESoperating expenses:

Instruction 75,666 137,023public service 78,095 15,023Academic support 424,455 314,674Student services 59,105 79,918Institutional support 2,518,477 1,263,364Student grants and scholarships 2,482,457 2,375,805

5,638,255 4,185,807

OPERATING LOSS ( 4,741,122) ( 3,344,654)

NON-OPERATING REVENUESGifts, noncapital 5,615,557 5,840,476Investment income, net 94,401 1,045endowment income, net 6,506,119 4,855,235

12,216,097 10,696,756

INCOME BEFORE OTHER ADDITIONS 7,474,955 7,352,102

ADDITIONS TO PERMANENT ENDOWMENTS 1,686,855 1,319,681

INCREASE IN NET POSITION BEFORE SPECIAL ITEM 9,161,810 8,671,783

SPECIAL ITEMtransfer of net position from CSulB Research Foundation 1,626,288 53,525,874

INCREASE IN NET POSITION 10,788,098 62,197,657

NET POSITION AT BEGINNING OF YEAR 62,197,657 none

NET POSITION AT END OF YEAR $ 72,985,755 62,197,657

12

CSULB 49er Foundation 2013-2014 Annual Report

The above financial statements were audited by Windes, Inc. The full set of audited financial statements is available upon request. The accompanying notes are an integral part of these financial statements.

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STATEMENT OF CASH FLOWS

FoR the yeAR enDeD June 30,2014 2013

CASH FLOWS FROM OPERATING ACTIVITIESpayments to or on behalf of the university departments $ ( 1,200,609) ( 1,055,106)payments to employees ( 962,523) ( 637,702)payments to students ( 2,525,678) ( 2,412,550)other receipts 1,593,791 250,998

net Cash used In operating Activities ( 3,095,019) ( 3,854,360)

CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIESGifts received for other than capital purposes 4,942,335 4,055,554

net Cash provided By noncapital Financing Activities 4,942,335 4,055,554

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES

net Cash used In Capital and Related Financing Activities none none

CASH FLOWS FROM INVESTING ACTIVITIESproceeds from sales and maturities of investments 53,272Investment income, net 94,401 1,045endowment income, net 1,100,466 4,855,235Additions to permanent endowments 1,686,855 1,319,681purchase of investments ( 2,002,248) ( 8,083,433)

net Cash provided by (used In) Investing Activities 879,474 ( 1,854,200)

NET CHANGE IN CASH AND CASH EQUIVALENTS 2,726,790 ( 1,653,006)

CASH TRANSFER FROM CSULB RESEARCH FOUNDATION 1,626,288 9,120,070

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 7,467,064 none

CASH AND CASH EQUIVALENTS AT END OF YEAR $ 11,820,142 7,467,064

RECONCILIATION OF OPERATING LOSS TO NET CASH FROM OPERATING ACTIVITIES:operating loss $ ( 4,741,122) ( 3,344,654)Adjustments to reconcile operating loss to net cash from

operating activities:Change in assets and liabilities:

Accounts receivable, net 422,469 ( 590,155)prepaid expenses and other assets 34,403 ( 137,616)Accounts payable 285,040 218,065other liabilities 904,191

net Cash used In operating Activities $ ( 3,095,019) ( 3,854,360)

13The above financial statements were audited by Windes, Inc. The full set of audited financial

statements is available upon request. The accompanying notes are an integral part of these financial statements.

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NOTE 1 – Statement of Significant Accounting Policies

Organization

the CSulB 49er Foundation (the 49er Foundation) is a nonprofit, tax-exempt corporation, which commenced operations on July 1, 2012. the 49er Foundation is organized to actively promote philanthropy and manage donatedresources for the advancement of California State university, long Beach (the university), by accepting and managingdonations, gifts and bequests for any university-related use. the 49er Foundation is a direct support organizationand component of the university.

Basis of Presentation

the financial statements have been prepared in accordance with accounting principles generally accepted in the unitedStates of America, as prescribed by the Governmental Accounting Standards Board (GASB).

the accompanying financial statements have been prepared on the accrual basis. the 49er Foundation reports as a Businesstype Activity and, accordingly, has reported its activities within a single column in the basic financial statements.

the 49er Foundation’s policy for defining operating activities as reported on the statement of revenues, expenses, andchanges in net position are those that generally result from administrative fees earned from gifts and donations made to the49er Foundation and expenses of the activities associated with the intent or purpose of the gift or donation. Certain significantrevenue streams relied upon for operations are recorded as nonoperating revenues as defined by GASB, including gifts andinvestment income.

the 49er Foundation has adopted GASB Statement no. 33, Accounting and Financial Reporting for Nonexchange Transactions,and GASB Statement no. 35, as amended by GASB Statements no. 37, Basic Financial Statements—and Management’sDiscussion and Analysis—for State and Local Governments: Omnibus and GASB Statement no. 38, Certain Financial StatementNote Disclosures. GASB Statement no. 33 requires that unconditional promises to give be recorded as receivables and revenues when the 49er Foundation has met all applicable eligibility requirements. GASB Statement no. 35 establishedstandards for external financial reporting for public colleges and universities and requires that resources be classified for accounting and reporting purposes into the following four net position categories: Invested in capital assets, net of related debt; Restricted, non-expendable; Restricted, expendable; and unrestricted. As of June 30, 2014 and 2013, the49er Foundation has no capital assets or debt.

Classification of Current and Noncurrent Assets (Other than Investments) and Liabilities

the 49er Foundation considers assets to be current that can reasonably be expected, as part of its normal business operations, to be converted to cash and be available for liquidation of current liabilities within 12 months of the statementof net position date. liabilities that reasonably can be expected, as part of normal 49er Foundation business operations,to be liquidated within 12 months of the statement of net position date, are considered to be current. All other assets andliabilities are considered to be noncurrent. For clarification of current and noncurrent investments, see the investmentsaccounting policy.

CSULB 49er Foundation 2013-2014 Annual Report

14The above financial statements were audited by Windes, Inc. The full set of audited financial

statements is available upon request. The accompanying notes are an integral part of these financial statements.

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Net Position

the 49er Foundation’s net position is classified into the following net position categories:

• Invested in capital assets, net of related debt

Capital assets, net of accumulated depreciation and outstanding principal balances of debt attributable to the acquisition,construction or improvement of those assets.

• Restricted

Nonexpendable – net position subject to externally imposed stipulations that they be maintained permanently by the 49er Foundation. Such assets include the 49er Foundation’s permanent endowment funds.

Expendable – net position whose use by the 49er Foundation is subject to externally imposed stipulations that can be fulfilled by actions of the 49er Foundation pursuant to those stipulations or that expire by the passage of time.

• Unrestricted

unrestricted net position is one that is not subject to externally imposed stipulations. unrestricted net position may be designated for specific purposes by action of management or the Board of Directors or may otherwise be limited by contractual agreements with outside parties. Substantially all unrestricted net position is designated for any university-related use, which includes academic and research programs and initiatives, and capital programs.

Reporting Entity

the 49er Foundation is an affiliated organization component unit of the university. As such, the 49er Foundation’s financial data will be included in the financial statements of the university.

Use of Estimates and Assumptions

Management uses estimates and assumptions in preparing financial statements in accordance with accounting principlesgenerally accepted in the united States of America. those estimates and assumptions affect the reported amounts ofassets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actualresults could vary from the estimates that were assumed in preparing the financial statements.

Cash and Cash Equivalents

the 49er Foundation considers all highly liquid, short-term investments purchased with an original maturity of threemonths or less to be cash equivalents. the 49er Foundation maintains cash with financial institutions in excess of federally insured limits.

15The above financial statements were audited by Windes, Inc. The full set of audited financial

statements is available upon request. The accompanying notes are an integral part of these financial statements.

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16

NOTE 1 – Statement of Significant Accounting Policies (Continued)

Custodial Credit Risk

Custodial credit risk is the risk that in the event of the failure of the custodian, the investments may not be returned tothe 49er Foundation. Substantially all of the 49er Foundation’s investments are registered in the 49er Foundation’sname by the custodian. As a result, custodial credit risk for such investments is remote.

Investments

the 49er Foundation has adopted GASB Statement no. 31, Accounting and Financial Reporting for Certain Investments andfor External Investment Pools. under GASB Statement no. 31, investments in marketable securities with readily determinablefair values and all investments in debt securities are valued at their fair values using quoted market prices in the statementof net position. Realized and unrealized gains and losses are included in the accompanying statement of revenues, expenses,and changes in net position.

Accounts Receivable

Accounts receivable primarily consists of amounts due from another auxiliary organization of the university. Managementdeems all accounts receivable to be collectible and has not established an allowance for doubtful accounts.

Pledges Receivable

the 49er Foundation receives pledges and bequests of financial support from corporations, foundations and individuals.Revenue is recognized when a pledge representing an unconditional promise to pay is received and all eligibility requirements,including time requirements, have been met. In the absence of such promise, revenue is recognized when the gift is received.endowment pledges do not meet eligibility requirements, as defined by GASB Statement no. 33, and are not recorded asassets until the related gift is received. An allowance for uncollectible pledges receivable is provided based on management’sjudgment of potential uncollectible amounts (approximately $464,000 and $548,000 at June 30, 2014 and 2013, respectively). the determination includes such factors as prior collection history, type of gift and nature of fund-raising.

Income Taxes

the 49er Foundation is tax-exempt under Internal Revenue Code Section 501(c)(3) for federal income taxes, as wellas the related provisions for state income tax purposes.

Reclassification

Certain amounts in the June 30, 2013 financial statements have been reclassified to conform to the 2014 financialstatement presentation.

CSULB 49er Foundation 2013-2014 Annual Report

The above financial statements were audited by Windes, Inc. The full set of audited financial statements is available upon request. The accompanying notes are an integral part of these financial statements.

Page 19: CSULB 49 FOUNDATION · 2014. 12. 2. · DECLARE: The Campaign for CSULB aims to raise a total of $225 million by December 2015, and we are well on our way to achieving this ambitious

CSULB 49er Foundation Equity and Diversity Statement:In addition to meeting fully its obligations of nondiscrimination under federal and state law, CSULB is committed to creating a community in which a diverse population canlive, learn and work in an atmosphere of tolerance, civility and respect for the rights and sensibilities of each individual, without regard to economic status, ethnic background,veteran status, political views, sexual orientation or other personal characteristics or beliefs. An EEO/AA/Title IX Employer.

Art direction, photography and editorial assistance provided by University Relations and Communications, 2014.

Mike and Arline Walter PyramidCredits

ContributorsJacqueline AngiuliMiranda CarvalhoMichael Losquadro

editorTeresa Hagen

Art DirectorTino Siwabessy

photographersJill GraceJorge HurtadoDavid J. NelsonMichael Sullivan

Page 20: CSULB 49 FOUNDATION · 2014. 12. 2. · DECLARE: The Campaign for CSULB aims to raise a total of $225 million by December 2015, and we are well on our way to achieving this ambitious

DECLARE: The Campaign for CSULBour campaign priorities (or “pillars”) fall broadly into three main categories that

reflect the values and focus of the university as a whole:

• Transformation encompasses programmatic innovation and other long-term growth opportunities. our focus is on initiatives that will help us attract the most accomplished faculty and coaches, expand discovery-focused instruction, create new centers of excellence and enhance the learning environment for students at all levels.

• Unequaled Accessmeans increasing access to CSulB and assuring the success of admitted students. As we seek to improve graduation rates and ensure timely progress toward degree attainment, we must also continue to emphasize high academic standards and uphold our record for having one of the lowest debt loads in the country for graduating students.

• A Greater Community includes ventures that benefit both campus and community. CSulB is part of the fabric of life in and around long Beach, and we seek to build on this momentum by securing funding for innovative global and local partnerships, new and upgraded athletics and arts facilities, and other high-impact, high-priority projects.

CSULB 49ER FOUNDATION6300 E . STATE UNIVERSITY DRIVE, SUITE 332LONG BEACH, CALIFORNIA 90815562.985.5778WWW.CSULB.EDU/49ERFOUNDATION