KENTUCKY STATE UNIVERSITY

Notes to the Financial Statements, continued

13. Kentucky State University Foundation, Inc. continued

g. Endowment Composition, continued

Changes in endowment net assets as of June 30, 2014 were as follows:

UnrestrictedTemporarily RestrictedPermanently RestrictedTotal Net Endowment Assets
Endowment net assets, beginning of year$ -$ 4,164,902$ 3,227,786$ 7,392,688
Contributions--237,571237,571
Interest and dividends-190,208-190,208
Realized and unrealized gains-728,543-728,543
Amounts appropriated for expenditure-(191,899)-(191,899)
Endowment net assets, end of year$ -$ 4,891,754$ 3,465,357$ 8,357,111