Net Assets with Donor Restrictions
Net assets with donor restrictions as of June 30, 2022 are restricted for the following purpose:
| Subject to expenditure for specified purpose: | ||
| Instruction and institutional support | $ | 2,217,522 |
|---|---|---|
| Scholarships | 1,307,123 | |
| Total subject to expenditure for specified purpose | 3,524,645 | |
| Subject to the passage of time | 82,000 | |
| Subject to endowment spending policy and appropriation: | ||
| Investments in perpetuity (including amounts above the original gift amount of $5,214,862), which once appropriated, are expendable to support the following programs: | ||
| Instruction and institutional support | 1,396,030 | |
| Scholarships | 5,666,406 | |
| Total subject to endowment spending policy and appropriation | $ | 7,062,436 |
| Total Net Assets with Donor Restrictions | $ | 10,669,081 |
For the year ended June 30, 2022, net assets were released from donor restrictions by incurring expenses satisfying the purpose of the restrictions specified by donors as follows:
| Endowment spending allocation | $ 63,401 |
|---|---|
| University support | 600,622 |
| Scholarships | 40,608 |
| Operating and other expenses | 20,500 |
| Student support | 258,953 |
| Travel and other expenses | 11,451 |
| Total release from restrictions | $ 995,535 |
86.