{ "document_id": 16531, "page": 91, "width_pt": 612, "height_pt": 792, "rotation": 0, "pipeline_version": "paddleocr-vl-1.6+paul-48", "engine": "paddleocr_vl", "source_run_id": 16642, "item_count": 18, "counts_by_type": { "footer": 1, "header": 1, "heading": 2, "table": 1, "table_cell": 8, "text": 4, "title": 1 }, "build_ms": 4, "items": [ { "id": "p91.1", "order": 1, "type": "header", "bbox": { "l": 216.24, "t": 722.4, "r": 395.52, "b": 695.76 }, "text": "NOTES TO FINANCIAL STATEMENTS\nJUNE 30, 2022", "attrs": { "block_label": "header" }, "level": 2 }, { "id": "p91.2", "order": 2, "type": "title", "bbox": { "l": 217.44, "t": 754.32, "r": 393.84, "b": 740.4 }, "text": "KENTUCKY STATE UNIVERSITY", "attrs": { "block_label": "doc_title" }, "level": 2 }, { "id": "p91.3", "order": 3, "type": "heading", "bbox": { "l": 69.84, "t": 680.88, "r": 450, "b": 667.44 }, "text": "NOTE 18 – KENTUCKY STATE UNIVERSITY FOUNDATION, INC. (CONTINUED)", "attrs": { "block_label": "paragraph_title" }, "level": 3 }, { "id": "p91.4", "order": 4, "type": "text", "bbox": { "l": 68.4, "t": 652.08, "r": 541.68, "b": 596.16 }, "text": "From time to time, certain donor-restricted endowment funds may have fair value less than the amount required to be maintained by donors or by law (underwater endowments). The Foundation has interpreted UPMIFA to permit spending from underwater endowments in accordance with prudent measures required under law. There were no such deficiencies as of June 30, 2022." }, { "id": "p91.5", "order": 5, "type": "text", "bbox": { "l": 68.64, "t": 582.96, "r": 541.92, "b": 498.24 }, "text": "Spending Policy: The Foundation spending policy is to distribute an amount at least equal to 3-5% of a moving sixteen quarter average of the fair value of the endowment funds. Accordingly, over the long term, the Foundation expects its spending policy to allow its endowment assets to grow at an average rate of 3% annually. This is consistent with the Foundation's objective to maintain the purchasing power of endowment assets as well as to provide additional real growth through investment return." }, { "id": "p91.6", "order": 6, "type": "text", "bbox": { "l": 69.6, "t": 485.04, "r": 390.72, "b": 470.88 }, "text": "Changes in endowment net assets as of June 30, 2022 are as follows:" }, { "id": "p91.7", "order": 7, "type": "table", "bbox": { "l": 80.64, "t": 458.16, "r": 528.72, "b": 282 }, "text": "", "attrs": { "block_label": "table", "n_rows": 2, "n_cols": 4, "integrity": { "cells_checked": 7, "cells_flagged": 0 } }, "children": [ { "id": "p91.7.1", "order": 8, "type": "table_cell", "bbox": { "l": 80.64, "t": 458.16, "r": 192.66, "b": 438.5867 }, "text": "", "attrs": { "row": 0, "col": 0, "rowspan": 1, "colspan": 1 } }, { "id": "p91.7.2", "order": 9, "type": "table_cell", "bbox": { "l": 334.076416, "t": 457.721263, "r": 372.237645, "b": 412.212057 }, "text": "Without Donor Restrictions", "attrs": { "row": 0, "col": 1, "rowspan": 1, "colspan": 1, "bbox_refit": true } }, { "id": "p91.7.3", "order": 10, "type": "table_cell", "bbox": { "l": 411.636783, "t": 457.721263, "r": 449.721598, "b": 412.212057 }, "text": "With Donor Restrictions", "attrs": { "row": 0, "col": 2, "rowspan": 1, "colspan": 1, "bbox_refit": true } }, { "id": "p91.7.4", "order": 11, "type": "table_cell", "bbox": { "l": 482.532371, "t": 457.721263, "r": 522.176035, "b": 412.212057 }, "text": "Total Net Endowment Assets", "attrs": { "row": 0, "col": 3, "rowspan": 1, "colspan": 1, "bbox_refit": true } }, { "id": "p91.7.5", "order": 12, "type": "table_cell", "bbox": { "l": 85.201041, "t": 410.440448, "r": 222.647182, "b": 286.329467 }, "text": "Endowment net assets, beginning of year\nContributions\nInterest and dividends\nRealized and unrealized gains\nOther, net of investment expense\nAmounts appropriated for expenditure\nReclassifications\nTotal operating expenses", "attrs": { "row": 1, "col": 0, "rowspan": 1, "colspan": 1, "bbox_refit": true, "merged_continuation": true } }, { "id": "p91.7.6", "order": 13, "type": "table_cell", "bbox": { "l": 346.537452, "t": 410.440448, "r": 382.688988, "b": 286.329467 }, "text": "$ 2,472,680\n-0-\n101,596\n(608,214)\n-0-\n(366,782)\n(2,376)\n$ 1,596,904", "attrs": { "row": 1, "col": 1, "rowspan": 1, "colspan": 1, "bbox_refit": true, "merged_continuation": true } }, { "id": "p91.7.7", "order": 14, "type": "table_cell", "bbox": { "l": 418.693279, "t": 410.440448, "r": 454.844815, "b": 286.329467 }, "text": "$ 7,907,337\n194,523\n132,456\n(932,468)\n(177,615)\n(63,401)\n1,604\n$ 7,062,436", "attrs": { "row": 1, "col": 2, "rowspan": 1, "colspan": 1, "bbox_refit": true, "merged_continuation": true } }, { "id": "p91.7.8", "order": 15, "type": "table_cell", "bbox": { "l": 486.333133, "t": 410.440448, "r": 526.840277, "b": 286.329467 }, "text": "$ 10,380,017\n194,523\n234,052\n(1,540,682)\n(177,615)\n(430,183)\n(772)\n$ 8,659,340", "attrs": { "row": 1, "col": 3, "rowspan": 1, "colspan": 1, "bbox_refit": true, "merged_continuation": true } } ] }, { "id": "p91.8", "order": 16, "type": "heading", "bbox": { "l": 70.08, "t": 263.76, "r": 147.36, "b": 250.32 }, "text": "Retirement Plan", "attrs": { "block_label": "paragraph_title" }, "level": 3 }, { "id": "p91.9", "order": 17, "type": "text", "bbox": { "l": 69.84, "t": 235.92, "r": 541.68, "b": 193.44 }, "text": "The Foundation has a defined contribution profit sharing plan which covers all employees who meet certain requirements. Foundation contributions are discretionary. No contributions were made for the year ended June 30, 2022." }, { "id": "p91.10", "order": 18, "type": "footer", "bbox": { "l": 298.08, "t": 48.24, "r": 312.24, "b": 36.72 }, "text": "88.", "attrs": { "block_label": "number" } } ], "excluded_furniture": { "first": [], "last": [] } }