Net assets with donor restrictions as of June 30, 2019 are restricted for the following purpose:
| Subject to expenditure for specified purpose: | |
|---|---|
| Instruction and institutional support | $ 1,802,119 |
| Scholarships | 1,601,205 |
| Total subject to expenditure for specified purpose | 3,403,324 |
| 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 $3,910,751), which once appropriated, are expendable to support the following programs: | |
| Instruction and institutional support | 1,321,745 |
| Scholarships | 4,237,861 |
| Total subject to endowment spending policy and appropriation | 5,559,606 |
| Total net assets with donor restrictions | $ 9,044,930 |
Net Assets Released from Restriction
For the year ended June 30, 2019, net assets were released from donor restrictions by incurring expenses satisfying the purpose of the restrictions specified by donors as follows:
| Endowment spending allocation | $ 1,937 |
|---|---|
| University support | 211,493 |
| Scholarships | 31,433 |
| Operating and other expenses | 161,806 |
| Student support | 64,340 |
| Travel and other expenses | 41,219 |
| Personal services | 21,342 |
| Total release from restrictions | $ 533,570 |
60.