Net assets with donor restrictions as of June 30, 2020 are restricted for the following purpose:
| Subject to expenditure for specified purpose: | |
|---|---|
| Instruction and institutional support | $ 1,893,497 |
| Scholarships | 1,256,788 |
| Total subject to expenditure for specified purpose | 3,150,285 |
| 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 $4,006,525), which once appropriated, are expendable to support the following programs: | |
| Instruction and institutional support | 1,341,442 |
| Scholarships | 4,352,020 |
| Total subject to endowment spending policy and appropriation | 5,693,462 |
| Total net assets with donor restrictions | $ 8,925,747 |
For the year ended June 30, 2020, net assets were released from donor restrictions by incurring expenses satisfying the purpose of the restrictions specified by donors as follows:
| Endowment spending allocation | $ 10,225 |
|---|---|
| University support | 142,685 |
| Scholarships | 399,328 |
| Operating and other expenses | 188,144 |
| Student support | 99,354 |
| Travel and other expenses | 35,647 |
| Total release from restrictions | $ 875,383 |
63.