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NORTHWESTERN STATE UNIVERSITY FOUNDATIONNATCHITOCHES, LOUISIANA

FINANCIAL STATEMENTSJUNE 30, 2007

Under provisions of state law, this report is a publicdocument. A copy of the report has been submitted tothe entity and other appropriate public officials. Thereport is available for public inspection at the BatonRouge office of the Legislative Auditor and, whereappropriate, at the office of the parish clerk of court.

Release Date /

HINES, JACKSON & MINES, L.L.C.CERTIFIED PUBLIC ACCOUNTANTS

P.O. BOX 2188 • NATCHITOCHES, LA 71457

Frank S. Mines, CPA Jay H. Sheffield, CPALewis C. Hines, CPA E. Merlin Squyres, CPA

Telephone: 318.352.6458Fax: 318.352.0404officefahjhcpa.biz


FINANCIAL STATEMENTSJUNE 30,2007

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NORTHWESTERN STATE UNIVERSITY FOUNDATIONNATCHITQCHES. LOUISIANA

TABLE OF CONTENTSJUNE 30. 2007

EXHIBIT SCHEDULE PAGE

Independent Auditors' Report - - 1

Statement of Financial Position A - 2

Statement of Activities B - 3

Statement of Cash Flows C - 5

Notes to the Financial Statements - - 6

Supplemental Information Schedule - - 15

Combining Statement of Financial Position - I 16

Combining Statement of Activities - 2 17

Combining Statement o f Activities - N S U Format - 3 1 9

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HINES, JACKSON & HINES, L.L.C.CERTIFIED PUBLIC ACCOUNTANTS

FRANK S. HINES, CPA P.O. BOX 2188 -133 EAST FIFTH STREET A. NEILL JACKSON, JR CPALEWIS C. HINES, CPAE. MERLIN SQUYRES, CFJAY H. SHEFFIELD, CPA

LEWIS C. HINES, CPA NATrHITnrHFS I A 71 ART 1926-1999E. MERLIN SQUYRES, CPA NATCHITOCHES. LA 71457

Telephone (318) 352-6458FAX (318) 352-0404

JAMES S. SHEFFIELD, CPA [email protected]

INDEPENDENT AUDITORS' REPORT

To the Board of DirectorsNorthwestern State University FoundationNatchitoches, Louisiana

We have audited the accompanying statement of financial position of Northwestern State University Foundation (a non-profit organization), as of June 30, 2007, and the related statements of activities and cash flows for the year then ended.These financial statements are the responsibility of the Foundation's management. Our responsibility is to express anopinion on these financial statements based on our audit.

We conducted our audit in accordance with standards generally accepted in the United States of America. Thosestandards require that we plan and perform the audit to obtain reasonable assurance about whether the financialstatements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting theamounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used andsignificant estimates made by management, as well as evaluating the overall financial statement presentation. We beiievethat our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial positionof Northwestern State University Foundation, as of June 30, 2007, and the changes in its net assets and its cash flowsfor the year then ended in conformity with accounting principles generally accepted in the United States of America.

Our audit was conducted for the purpose of forming an opinion on the basic financial statements of the NorthwesternState University Foundation taken as a whole. The accompanying supplemental schedule listed in the table of contentsis presented for purposes of additional analysis and is not a required part of the financial statements. Such informationhas been subjected to the auditing procedures applied in the audit of the financial statements and, in our opinion, is fairlystated, in all material respects, in relation to the financial statements taken as a whole.

Hines, Jackson & HinesNatchitoches, LouisianaOctober 2, 2007

- MEMBERS -American Institute of Certified Public Accountants Society of Louisiana Certified Public Accountants

NORTHWESTERN STATE UNIVERSITY FOUNDATIONNATCHITOCHES. LOUISIANA

STATEMENT OF FINANCIAL POSITIONJUNE 30. 2007

EXHIBIT A

ASSETS

Current AssetsCash and cash equivalentsPromises to giveInvestmentsOther current assets

Total Current Assets

Fixed assets, at costLess: accumulated depreciationOther assets

Total Assets

1,028,070195,000

8,872,6693,398

10,099,137

23,970(13,152)36,788

LIABILITIES AND NET ASSETS

Current LiabilitiesAccounts payableFunds held in custodyCurrent portion of long-term debt

Total Current Liabilities

Long-term LiabilitiesNotes payable, net of current portion

Total Liabilities

Net AssetsUnrestrictedTemporarily restrictedPermanently restricted

Total Net Assets

Total Liabilities and Net Assets

2,254180,000

19,757

202,011

1.977

203,988

490,2583,504,8495.947.648

9.942.755

$ 10.146.743

The accompanying notes are an integral part of this statement.

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NORTHWESTERN STATE UNIVERSITY FOUNDATION

PUBLIC SUPPORT, REVENUES,AND RECLASSIFICATIONSContributionsSpecial events, admissionsDues and feesIncome from investmentsUnrealized gains/(losses)Scholarships - Named recipientsFund raising events, commissionsGeneral marketingSale of itemsOther revenuesTransferNet Assets Released f

Satisfactions of ProgTotal Public S

and Rectifications

EXPENSESProgram services

ScholarshipsNSU-AdministrativeAdvertisementAwards and plaquesAthletic suppliesBooksContract laborCultivationDepreciationEquipmentFund raisingGame ticketsInterest expenseMaintenance service, suppliesOffice supplies, postagePrintingProfessional servicesPromotional and marketingTelephoneSupplies

Program services (continued) $ 1,187,502 $


EXHIBIT B

NATCHITOCHES. LOUISIANASTATEMENT OF ACTIVITIES

FOR THE YEAR ENDED JUNE 30, 2007

iNUES,ONS

in investmentsipientsmissions

RestrictionsRestrictions

ort, Revenues,ions

>plies

ng

Unrestricted

$ 225,612 30

8,85050,87166,520

0103,314

00

9,1011,610

1,498,722

1,964,600

373,582207215

18,77166,98243,37738,48239,246

5,728109,318210,726

2,7562,1587,5775,026

10,80867,524

158,9112,160

23.948

TemporarilyRestricted

B 746,601 37,069

0322,015593,41895,950

307,567184,65929,03497,42758,740

(1.498,722)

943,758

00000000000000000000

PermanentlyRestricted

; 645,478 $000

10,7500

3,05100

3,677170,648

0

833,604

00000000000000000000

Total

1,617,6917,0698,850

372,886670,68895,950

413,932184,65929,034

110,205230,998

0

3,741,962

373,582207215

18,77166,98243,37738,48239,246

5,728109,318210,726

2,7562,1587,5775,026

10,80867,524

158,9112,160

23,948

0 $ 1,187,502

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EXHIBIT BNORTHWESTERN STATE UNIVERSITY FOUNDATION

EXPENSES (CONTINUED)Program services (Continued)TravelOther program services expenses

Total Program Services

Support ServicesCultivationEquipmentFund raising expensesInsuranceMaintenance services, suppliesOffice supplies, postageProfessional servicesPrintingPromotionalSalaries and payroll taxesTransfer to NSUTransfers to temporaTransfers to permamTravelCapital projectsOther support services expenses

Total Support Services

Total Expenses

Increase/(Decrease) in Net Assets

Net Assets, Beginning of year

Net Assets, End of year

NATCHITOCHES, LOUISIANASTATEMENT OF ACTIVITIES (CONTINUED)


y] Unrestrictedjed) $ 1,187,502

35,721sxoenses 295.539•vices 1,518,762

124,1068,779

25,790198

ipplies 6,3121,476

11,2512,167

15,093s 11,753

0restricted 64,218' restricted 0

7,7600

tpenses 42,625vices 321.528

1,840.290

Assets 124,310

2ar 365,948

$ 490.258

TemporarilyRestricted

$ 0 5000

00000000000000000

0

943,758

2,561,091

$ 3.504.849 !

PermanentlyRestricted

> 0 $000

0000000000

120,0000

166,780000

286,780

286,780

546,824

5,400.824

& 5,947,648 $

Total1,187,502

35,721295,539

1,518,762

124,1068,779

25,790198

6,3121,476

11,2512,167

15,09311,753

120,00064,218

166,7807,760

042,625

608,308

2,127,070

1,614,892

8,327.863

9.942.755


NORTHWESTERN STATE UNIVERSITY FOUNDATIONNATCHITQCHES. LOUISIANASTATEMENT OF CASH FLOWS


EXHIBIT C

CASH FLOWS PROVIDED BY/(USED IN) OPERATING ACTIVITIESChange in net assetsAdd depreciation - a non-cash expenseCash provided by operating activities:

(Increase)/decrease in operating assetsPromises to giveInterest receivableCommissions receivableCash surrender value in life insurance

Increase/(decrease) in operating liabilitiesAccounts payableFunds held in custody

Net Cash Provided By/(Used In) Operating Activities

CASH FLOWS PROVIDED BY/(USED IN) INVESTING ACTIVITIES(Increase)/decrease in investments

Certificates of depositMutual depositsU.S. Government FundsStocks and bonds

Net Cash Provided By/(Used In) Operating Activities

CASH FLOWS PROVIDED BY/(USED IN) FINANCING ACTIVITIESIncrease/(decrease) in notes payable

Net Increase/(Decrease) in Cash and Cash Equivalents

CASH AND CASH EQUIVALENTS, Beginning of year

CASH AND CASH EQUIVALENTS, End of year

1,614,8925,728

(24,000)1,757

17,380(4,488)

(28,138)('580.00011,003,131

(7,503)(1,170,433)

130,460(174.496)

(1,221,972)

(36.663)

(255,504)

1,283,574

1.028.070



NOTES TO THE FINANCIAL STATEMENTSJUNE 30, 2007

NOTE 1 NATURE OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

A. Organization

The Northwestern State University Foundation (the Foundation) is a non-profit corporation formed in 1960. Itspurpose is to promote the educational and cultural welfare of Northwestern State University (the University) and toaid students in their studies at the University and to solicit and accept funds to achieve the foregoing objectives. TheFoundation serves as an umbrella organization for the Northwestern State University Alumni Association and theNorthwestern State University Athletic Association, each of which has its own board of directors. Funds for each ofthese organizations are combined with funds of the Foundation for presentation in these financial statements.

The Foundation qualifies as a tax-exempt organization (an "other than private foundation") under Section 501 (c)(3)of the Internal Revenue Code.

B. Basis of Accounting

The financial statements of the Foundation have been prepared on the accrual basis of accounting and, accordingly,reflect all significant receivables, payables, and other liabilities.

C. Basis of Presentation

The Foundation presents its financial statements in accordance with Statement of Financial Accounting Standards("SFAS") No. 117, Financial Statements of Not-for-Profit Organizations. Under SFAS No. 117, an organization isrequired to report information regarding its financial position and activities according to three classes of net assets:unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets. Additionally, theFoundation is required to present a statement of cash flows.

D. Contributions

Contributions received are recorded as unrestricted, temporarily restricted, or permanently restricted support,depending on the existence and nature of any donor restrictions.

All donor-restricted support is reported as an increase in temporarily or permanently restricted net assets, dependingon the nature of the restriction. When a restriction expires (that is, when a stipulated time restriction ends or purposerestriction is accomplished), temporarily restricted net assets are reclassified to unrestricted net assets and reported inthe statement of activities as net assets released from restrictions. Permanently restricted net assets from endowmentfund contributions are restricted to investment in perpetuity, the income from which is considered temporarilyrestricted until donor-imposed restrictions are met.

Certain gifts are subject to the terms of acts of donation whereby the Foundation and/or the University agrees tocertain requirements such as providing information regarding how such gifts are invested and how earnings thereonare spent.

E. Promises to Give

Promises to give are recorded as received. Promises to give, due in the next year, are reflected as current promisesto give and are recorded at their net realizable value. Promises to give due in subsequent years are reflected as


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)JUNE 30. 2007

NOTE 1 NATURE OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (CONT)

long-term promises to give and are recorded at the present value of their net realizable value, using risk-free interestrates applicable to the years in which the promises are received to discount the amounts. The majority of thepromises to give are received from a broad base of contributors as a result of the annual campaign. There are twomulti year promises to give recorded. The promise to give year conforms to the fiscal year; therefore, uncollectedpromises to give at the end of the fiscal year are regarded as uncollectible.

F. Cash and Cash Equivalents

The Foundation considers alt highly liquid investments with a maturity of three months or less when purchased to becash equivalents.

G. Investments

Investments consists of certificates of deposit, mutual funds, U S Government securities and obligations and stocksand bonds (marketable debt and equity securities). Securities are classified available-for-sale and are carried atestimated fair value with unrealized gains and losses reported in income. Realized gains (Josses) are also reported inincome.

H. Contributed Services

The University pays all personnel costs and also provides office space, some furniture and equipment, utilities andtelephone charges for the Foundation. The value of these items is not recorded in the financial statements.

I. Collections

Collections consist of non-cash donations of Southern History Journals and Salvador Dali paintings. These items arenot recorded in the financial statements.

J. Fixed Assets

The Foundation policy is to expense fixed assets when purchased because the assets are given to Northwestern StateUniversity. The University adds the items to their records and maintains the insurance. The Athletic Association hastwo vehicles which were used by coaches at June 30,2007. The vehicles are recorded at cost. Depreciation isprovided over the estimated usefiil lives of the assets and computed on the straight-line method.

K. Funds Held in Custody

Northwestern State University participates in a program with the State of Louisiana (the Eminent Scholars/EndowedChairs and Professorships Programs sponsored by the Louisiana Board of Regents) whereby the LouisianaEducational Quality Support Fund matches funds which, together with donations received by the Foundation andtransferred to the University, establish endowment funds, which are accumulated and maintained by the University.The state matches 40% of the professorships or $40,000 each and the state matches 60% of the chairs which is$600,000. The earnings on the endowed chairs are to be used by the University to attract or retain nationallyrecognized scholars. The earnings on the endowed professorships are to provide the University funds for facultyresearch and development along with needed equipment. The Foundation receives the donation from the donor inthe form of contributions, and notifies the Louisiana Board of Regents. The Foundation holds the funds in custodyuntil the Louisiana Board of Regents gives final approval for matching funds. The Foundation transfers the fundsheld in custody to the University when the Board of Regents transfers the matching ftmds to the University.

7

NORTHWESTERN STATE UNIVERSITY FOUNDATIONNATCH1TOCHES. LOUISIANA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)JUNE 30, 2007

NOTE 1 NATURE OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (CONT)

L. Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requiresmanagement to make estimates and assumptions that affect the reported amounts of assets and liabilities anddisclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts ofrevenues and expenses during the reporting period. Actual results could differ from those estimates.

NOTE 2 CASH AND CASH EQUIVALENTS

Cash and cash equivalents are summarized as follows:

Interest bearing checking accounts $ 605,632Regular checking accounts 9,203Money market accounts 413,235

Total

As of June 30,2007, the Foundation had $1,028,070 in bank deposits. These deposits are secured from risk by$200,000 of federal deposit insurance (FDIC).

Money market accounts are invested with brokerage firms, and are not secured by FDIC insurance, rather theinstitution will generally guarantee a purchase at market or bid price. The Foundation uses AG Edwards,Sunamerica, Smith Barney Citigroup, Merrill Lynch, Trust Company of Illinois, and Capital One.

NOTE 3 PROMISES TO GIVE

Promises to give are recorded as received. Promises to give, due in the next year, are reflected as current promisesto give and are recorded at their net realizable value. Promises to give due in subsequent years are reflected as long-term promises to give and are recorded at the present value of their net realizable value, using risk-free interest ratesapplicable to the years in which the promises are received to discount the amounts. The majority of the promises togive are received from a broad base of contributors as a result of the annual campaign. There are two multi yearpromises to give recorded. The promise to give year conforms to the fiscal year; therefore, uncollected promises togive at the end of the fiscal year are regarded as uncollectible. The total amount of promises to give at June 30,2007, is expected to be collected as follows:

Less than one year $ 100,000One to five years 95,000

Total promises to give

Certain donors have stipulated to make donations to the Foundation upon death. The total amount is unknown atJune 30, 2007, and no amount has been recorded in the financial statements.

I


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)JUNE 30. 2007

NOTE 4 INVESTMENTS

Investments include certificates of deposits with banks and brokerage firms, mutual funds, U.S. GovernmentSecurities, stocks and bonds. It is estimated that $9,036 of the amounts invested in certificates of deposit are notcovered by FDIC insurance. The Foundation has not had to cash in CD's early, and it is estimated the differencebetween market value and cost, if any, is not material.

Mutual Funds, U. S. Government securities, stocks and bonds are recorded at market value with the exception ofValley Farmers Coop Preferred Stock, which is recorded at cost of $2,500 since this is not a public traded stock andmarket is unknown. Non Government obligations and common stocks are investments through Capital One Bank -Private Client Group and are recorded at market value.

A summary follows:

Certificates of deposit

Mutual FundsSunamerica/AIGTrust Company of Illinois

ALUMNIASSOCIATION

U.S. Government SecuritiesU S Treasury and AgenciesU S Mortgage Fund A

Stocks and BondsValley Farmers Coop -

Preferred Stock, at costmarket unknown

Series EE BondsNon Government Obligations

Capital One Bank - TrusteeCommon Stocks

Capital One Bank - TrusteeTrust Company of Illinois - Trustee_

135,410

ATHLETICASSOCIATION

99,898 $

135,4100

986,4370

986,437

NSUFOUNDATION

0 $

4,021,669

149,89181.134

231,025

2,500391

962,215

2,007,98222.746

TOTAL402,396 $

3,981,80239.867

502,294

5,103,64939.867

5,143,516

149,89181.134

231,025

2,500391

962,215

2,007,98222.746

2,995.834 2.995,834

Total 986.437 $ 8.872.669


NOTES TO THE FINANCIAL STATEMENTSfCONTINUEDIJUNE 30. 2007

NOTE 4 INVESTMENTS (CONT)

At June 30,2007, the Foundation's investments, carried at estimated market value, consisted of the following:

Certificates of depositMutual FundsU S Government SecuritiesStocks and bonds

NOTES

Total

OTHER CURRENT ASSETS

GROSSESTIMATED UNREALIZED

COST GAIN$ 502,294 $

4,396,066230,992

2,705,536

$ 7,834.888 $

0 $747,450

33290,298

1,037,781 $

ESTIMATEDMARKETVALUE

502,2945,143,516

231,0252,995.834

8,872.669

ALUMNI ATHLETIC NSUASSOCIATION ASSOCIATION FOUNDATION TOTAL

3500

0 $0

3,048 $0

3,3980

350 $_ 0 $ 3,048

Interest receivable $Commissions receivable

Total $

NOTE 6 FIXED ASSETS

The Athletic Association owns two vehicles and are used by coaches at June 30, 2007. They are subject to chattelmortgages with a total balance due of $5,277 at June 30, 2007.

Vehicles, at costLess: accumulated depreciation

$ 23,970(13.152)

NOTE 7 OTHER ASSETS

Other assets are as follows:

Cash surrender value of life insurance (3 policies)

NOTE 8 ACCOUNTS PAYABLE

Accounts payable consist of trade accounts payable as follows:

Alumni AssociationAthletic AssociationNSU Foundation

$ 36.788

721,983

199

10

NOTE 9


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED-)JUNE 30. 2007

FUNDS HELD IN CUSTODY

Funds held in custody are donations that were made to the Foundation as matching funds and will be transferred to theUniversity under the Endowed Chairs and Professorships Programs detailed in Note I, A summary follows:

Bryant Lewis ProfessorshipWillis-Knighton ProfessorshipFrancisco A. Silva ProfessorshipTotal

60,00060,00060,000 180.000

$ 180.000

NOTE 10 NOTES PAYABLE

On October 3,2001, Northwestern Athletic Association borrowed $150,000 from Exchange Bank & Trust Company,Natchitoches, Louisiana. The proceeds were used to pay the balance due on the turf at Turpin Stadium. The interest rateis 7.25%. Monthly payments of $2,700.00 began July 1,2005, with the last payment due February 3, 2008. Principalbalance on the loan at June 30, 2007, was $16,457. Interest expense was accrued through June 30, 2007.

On December 31,2004, Northwestern Athletic Association purchased a 2004 Dodge to be used by coaches. The vehicleis financed with Chrysler Financial. Payments are $290.86 per month including principal and interest at 5.49%.Principal balance on the loan at June 30, 2007, was $5,276.

A summary follows:

NOTE II

Exchange BankChrysler Financial

Total

INCOME TAXES

CURRENT LONG-TERMLIABILITY LIABILITY

$ 16,457 $3,300

01,977

TOTAL16,4575.277

19,757 £_ 1,977 $ 21.734

Federal income tax is paid on unrelated business income, A tax court decision ruled that commissions on a credit cardprogram in exchange for the use of its name and logo is not considered unrelated business income for income taxes.Based on this decision, the Foundation does not have liability.

NOTE 12 LITIGATION

According to management, the Foundation is not involved in any defensive litigation.

NOTE 13 PENSIONS

The Foundation employs several part-time employees. They are covered under the Social Security System. TheUniversity pays all other personnel costs, including pension cost. The value of this as well as other services furnishedby the University are not included in the financial statements of the Foundation.

NOTE 14 DONATIONS FROM NORTHWESTERN STATE UNIVERSITY

The Foundation receives donated services, the use of equipment and facilities from Northwestern State University at nocharge. The estimated value of these services and facilities is listed below and is not recorded on the books of theFoundation. The estimate as provided by Northwestern State University is the same as the Foundation. A summary ofthe estimated value of services as provided by the University and the Foundation is as follows:

11

NOTE 14


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED')JUNE 30, 2007

DONATIONS FROM NORTHWESTERN STATE UNIVERSITY (CONT)

Estimated Value As Provided byNorthwestern State

UniversitySalaries and related benefitsTravelOperating servicesSuppliesCapita! outlaysOther costs

Total

102,5601,1711,028

000

104.759

NOTE 15 RESTRICTIONS ON ASSETS

Temporarily restricted net assets are available for the following purposes:

Centennial Development ScholarshipsNotes payable and other liabilitiesDonor restricted gifts for scholarships,

Assistance to university and otherrestrictions

Total

Permanently restricted net assets consist of endowment funds investments to be held indefinitely, the income from whichis expendable to support the following:

ALUMNI ATHLETICASSOCIATION ASSOCIATION

$ 109,096 $0

0

$ 109,096 $

0(21,317)

421,919

400.602

NSUFOUNDATION

$ 0 $(199)

2.995,350

1 2.995.151 i

TOTAL109,096(21,516)

3,417.269

3.504.849

Athletic Association

NSU FoundationA. A. FredericksAdvance Student/Parent AlumniAlpha Beta AlphaAlliance Company ScholarshipRaymond Arthur ScholarshipBerrian and Cleavie BaileyBank OneBuddy BotmetteT. P. Chaplin MemorialEster CooleyEllis & Melva CouteeSam & Lillian DavisDeSoto Parish HousingJoseph DowJames Ford

Carry forward

S 935.018

15,00044,69629,00030,00021,95825,00054,50035,30054,00020,000120,000114,750150,00020,00019.176

753,380

12


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED')JUNE 30. 2007

NOTE 15 RESTRICTIONS ON ASSETS (CONT)

Balance ForwardEleanor GarbrechtGeneral College ScholarshipJanet Goodwin ScholarshipMary Ryan GreshamPauline JobeJohn and Jewell JonesBen Johnson ScholarshipGary JohnsonMimi JordanJohn, Thelma and Janet KyserArmand & Docia LaCour ScholarshipMarion Lofton MemorialJohn & Becky Luster ScholarshipAnnie 0. Lynch Program EnhancementAnnie O. Lynch ScholarshipMagale MusicMichael Peter Manno ScholarshipLeroy MillerTravis Miller ScholarshipCharles MondayElizabeth P. MooneySara Roach/Opal PerotWalter PorterHarleen RobertsonChris RoperJohn RoppDallas and C.R. Sanders ScholarshipCorrine SaucierSimpson High SchoolBarry SmileyShirley SmileyDeEster W. TaylorJoseph A. Thomas, M.D.Martin WalkerElla T. WardRandy and Brenda Webb ScholarshipJon P. Weyand MemorialGladys Williams/Leonard Fan-All others, less than $15,000 each

Total

753,380664,38825,44523,23526,91539,850112,82761,53120,00018,135112,30436,400245,95325,00050,00035,000714,06945,00032,000100,00036,03140,00021,56363,33915,05050,00030,252100,00034,30017,91517,66025,75915,000105,00050,000200,00050,00026,070100,000873.259

$ 5.012,630

13


NOTES TO THE FINANCIAL STATEMENTS fCONTINUED)JUNE 30. 2007

NOTE 16 FAIR VALUES OF FINANCIAL INSTRUMENTS

The following methods and assumptions were used by the Foundation in estimating its fair valuedisclosures for financial instruments:

Cash, cash equivalents, and unconditional promises to give. The carrying amountsreported in the statement of financial position for cash and cash equivalents approximate fairvalues because of the short maturities of those instruments. The fair value of unconditionalpromises to give is not considered to be significantly different from carrying value due to thesmall carrying value.

Investments. The carrying values of investments reported in the statement of financialposition are equal to the estimated fair values of those investments. The fair values ofinvestments are based on quoted market prices for those or similar investments.

14

SUPPLEMENTAL INFORMATION SCHEDULES

15

SCHEDULE 1

ASSETSCash in checking accountsMoney market accountsUnconditional promises to giveCertificates of depositMutual ftmd investmentsU S Government SecuritiesStocks and bondsInterest and commissions receivableFixed assetsLess: accumulated depreciationOther assets

Total Assets

LIABILITIESAccounts payableFunds held in custody - due to NSUNotes payable

Total Liabilities

Net AssetsUnrestrictedTemporarily restrictedPermanently restricted

Total Net Assets


COMBINING STATEMENT OF FINANCIAL POSITION

give

;ceivable

tion

: to NSU

id Net Assets

JUNE 30. 2007

AlumniAssociation

$ 120,241 $1,159

099,898

135,41000

350000

$ 357,058 $

$ 72 $00

72

247,890109,096

0

356,986

$ 357.058 $

AthleticAssociation

282,572 ,79,510

00

986,437000

23,970(13,152)

0

1,359,337

1,9830

21.734

23,717

0400,602935,018

1,335.620

1,359.337

NSUFoundation

$ 212,022 5332,566195,000402,396

4,021,669231,025

2,995,8343,048

00

36,788

$ 8.430,348 3

$ 199 3180,000

0

180,199

242,3682,995,1515.012,630

8.250,149

$ 8.430,348 I

TotalS 614,835

413,235195,000502,294

5,143,516231,025

2,995,8343,398

23,970(13,152)

36,788

G 10,146,743

B 2,254180,00021,734

203,988

490,2583,504,8495,947,648

9,942,755

B 10,146,743

Other supplemental information.Presented for purposes of additional analysis. 16

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COMBINING STATEMENT OF ACTIVITIESFOR THE YEAR ENDED JUNE 30. 2007

PUBLIC SUPPORT, REVENUESAND RECLASSIFICATIONSContributionsSpecial events, admissionsDues and feesIncome from investmentsUnrealized gains/(losses) in investmentsScholarships - Named recipientsFund raising events, commissionsGeneral MarketingSale of itemsOther revenueTransfers

Total Public Support, Revenues,and Rectifications

EXPENSESProgram services

ScholarshipsNSU - AdministrationAdvertisementAwards and plaquesAthletic suppliesBooksContract laborCultivationDepreciationEquipmentFund raisingGame ticketsInterest expenseMaintenance service, suppliesOffice supplies, postagePrintingProfessional servicesPromotional and marketingTelephoneSuppliesTravelOther expenses, designated

Total Program Services

AlumniAssociation

124,3100

8,85010,01311,917

0103,314

00

9,1020

267,506

109,133

AthleticAssociation

NSUFoundation

$ 585,902 $ 907,4797,069

0 034,130 328,74359,575 599,196

0 95,950204,158 106,460184,659 011,035 17,99956,945 44,158

224.576 6.422

1,360,980 2,113,476

778,478 631,151

SCHEDULE 2

Total

1,617,6917,0698,850

372,886670,68895,950

413,932184,65929,034

110,205230.998

3,741,962

11,9310

21550000000

1,93157,689

000

396200

29,024000

7,427

107,21300

15,36366,98243,37738,48239,2465,72899,65742,9742,7562,1587,5774,63010,78867,324129,8872,16015,82131,57644,779

254,4382070

2,90800000

7,730110,063

00000

20000

8,1274,145

243,333

373,582207215

18,77166,98243,37738,48239,2465,728

109,318210,7262,7562,1587,5775,02610,80867,524158,9112,16023,94835,721295,539

1,518,762


SCHEDULE 2

EXPENSES (CONTINUED)Support services

CultivationEquipmentFund raising expensesInsuranceMaintenance services,Office supplies, postageProfessional servicesPrintingPromotionalSalaries and payroll taxesTransfer to NSUTransfer to FoundationTransfer to temporarilyTransfer to permanentl;TravelCapital projectsOther expense

Total Expenses

Increase/(Decrease) in Net Assets

NET ASSETS, Beginning of year

NET ASSETS, End of year


COMBINING STATEMENT OF ACTIVITIES fCONTINUED)FOR THE YEAR ENDED JUNE 30, 2007

3D)

suppliese

:es

restrictedy restricted

:rvices

:t Assets

\ of year

ar

AlumniAssociation

$ 73,9700

6,12900

4606,897

0000000

1,0810

10,58899,125

208,258

59,248

297.738

$ 356,986

AthleticAssociation

$ 2,014 !0

19,6610

6,312693

000000

1,6104,8133,563

07,956

46,622

825.100

535,880

799,740

$ 1,335,620 :

NSUFoundation

S 48,122 $8,779

0198

0323

4,3542,167

15,09311,753

120,0000

62,608161,967

3,1160

24.081462.561

1,093.712

1,019,764

7,230.385

$ 8,250,149 $

Total

124,1068,779

25,790198

6,3121,476

11,2512,167

15,09311,753

120,0000

64,218166,780

7,7600

42,625608,308

2,127,070

1,614,892

8,327,863

; 9,942,755


SCHEDULE 3NORTHWESTERN STATE UNIVERSITY FOUNDATION

OPERATING REVENUESStudent tuition and feesFederal appropriationsFederal grants and contractsState and local grantsNon-governmental gr;Sales and services of >Hospital incomeAuxiliary enterprise revenueOther operating revenue

Total Operating Revenue

OPERATING EXPENSESEducation and general:

InstructionResearchPublic serviceAcademic supportStudent service - BooksInstitutional supportOperations and maintenance of plantDepreciation

Scholarships and fellowshipsAuxiliary enterprise - NSU AthleticsHospitalOther operating expenses

Total Operating ExpensesOperating Income/(Loss)

NON-OPERATING REVENUES/(EXPENSES)State appropriationsGifts - contributionsNet investment income/(loss)Interest expenseOther non-operating revenues

Net Non-operating Revenue/(expenses)

Income/(loss) before other Revenues, Expenses,Gains and Losses

Capital appropriationsCapital grants and giftsTransfers (to)/from NSUOther additions netIncrease/(Decrease), in Net Assets

NET ASSETS, Beginning of the year

NET ASSETS, End of the year

NATCHITOCHES, LOUISIANACOMBINING STATEMENT OF ACTIVITIES - NSU

;ts

FOR THE YEAR ENDED

AlumniAssociation

$ 8,85000

contracts 0and;atio

lue

contracts 0n departments 0

000

JUNE 30, 2007

AthleticAssociation

$ 000000000

FORMAT

NSUFoundation

$ 0 $00000000

Total8,850

00000000

8,850

(199,408)

59,248 535,880 1,019,764

Other supplemental information.Presented for purposes of additional analysis.

8,850

00000000

11,93100

196327208,258

0000

43,37700

5,728107,213666,624

00

822,942

00000000

254,43800

839,2641.093,702

0000

43,37700

5,728373,582666,624

01.035,5912.124,902

(822,942) (1,093,702) (2,116,052)

0124,31021,930

0112,416258,656

0585,90293,705(2,158)681.373

1,358,822

0907,479927,939

0278.048

2.113,466

01,617,6911,043,574(2,158)

1,071.8373,730.944

1,614,892

0000

59,248

297.738

$ 356.986 3

0000

535,880

799.740

S 1,335,620

0000

1,019,764

7,230,385

$ 8,250,149 :

0000

1,614,892

8,327,863

$ 9,942,755

19

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