{
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            "type": "title",
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            "text": "KENTUCKY STATE UNIVERSITY\nNOTES TO FINANCIAL STATEMENTS\nJUNE 30, 2024",
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            "text": "NOTE 15 KENTUCKY STATE UNIVERSITY FOUNDATION, INC.",
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            "text": "Description of the Organization",
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            "text": "Kentucky State University Foundation, Inc. (the Foundation) is a Kentucky not-for-profit corporation formed to receive, invest, and expend funds to promote and implement educational and developmental activities at Kentucky State University (the University). The Foundation is managed by a Board of Trustees independent from that of the University. The Foundation is supported primarily through contributions from alumni."
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            "text": "Summary of Significant Accounting Policies",
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        },
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            "text": "The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) which require management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. The following is a summary of the significant accounting policies consistently followed by the Foundation in the preparation of its financial statements."
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            "text": "Basis of Presentation",
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        },
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            "text": "Net assets and revenues, expenses, gains, and losses are classified based on the existence or absence of donor-imposed restrictions. Accordingly, net assets of the Foundation and changes therein are classified and reported as follows:"
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            "text": "Net Assets Without Donor Restrictions – net assets available for use in general operations and not subject to donor restrictions. The governing body has designated, from net assets without donor restrictions, net assets for an operating reserve and board-designated endowment."
        },
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            "bbox": {
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            "text": "Net Assets With Donor Restrictions – net assets subject to donor-imposed restrictions. Some donor-imposed restrictions are temporary in time, such as those that will be met by the passage of time or other events specified by the donor. Other donor-imposed restrictions are perpetual in nature, where the donor stipulates that resources be maintained in perpetuity. Donor-imposed restrictions are released when a restriction expires, that is, when the stipulated time has elapsed, when the stipulated purpose for which the restricted has been fulfilled, or both. The investment return on net assets with donor restriction may be restricted or unrestricted according to the donors wishes."
        },
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            "type": "text",
            "bbox": {
                "l": 104.4,
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            "text": "When a donor restriction expires, net assets with donor restrictions are classified to net assets without donor restrictions and reported on the statements of activities as net assets released from restrictions. The Foundation treats donor-restricted contributions whose restrictions are met in the same reporting period as unrestricted support."
        },
        {
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            "type": "footer",
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            "text": "(70)",
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