t h e f l o r i d a i n t e r n at i o n a l u n i v e r s i t y f o u n d at i o n , i n c .
FLORIDA INTERNATIONAL UNIVERSITY FOUNDATION, INC. AND SUBSIDIARIES (A Direct Support Organization) CONSOLIDATED STATEMENT OF FINANCIAL POSITION JUNE 30, 2013 (WITH COMPARATIVE TOTALS FOR JUNE 30, 2012) 2012 2013 Assets: Cash and cash equivalents 4,806,843 9,358,242 Contributions receivable, net 61,536,667 69,178,385 Investments 168,514,586 194,966,098 Due from Florida International University 136,285 60,329 Bond issuance costs, net 122,590 110,120 Other assets 839,549 903,316 Fixed assets, net 12,174,916 14,824,262 Total Assets $248,131,436 $289,400,752 Liabilities: Accounts payable and other liabilities 289,652 689,993 Annuity payables 188,385 180,768 Deferred revenue 843,218 1,061,734 Due to Florida International University 673,237 677,334 Due to Florida International University Athletics Finance Corp. 56,100 Split-interest obligations 789,060 766,787 Derivative liability 432,872 264,027 Notes payable 8,180,000 7,640,000 Total Liabilities $11,452,524 $11,280,643 Net Assets: Unrestricted 21,631,305 30,070,328 Temporarily restricted 33,472,532 55,898,663 Permanently restricted 181,575,075 194,151,118 Total Net Assets $236,678,912 $278,120,109 Total Liabilities and Net Assets $248,131,436 $289,400,752
The FIU Foundation’s principal responsibilities are to channel private support to FIU and exercise fiduciary management of those gifts. Over the past five years, FIU has grown by nearly 10,000 students but lost $72 million in state funding. Today, more than ever before, the FIU Foundation makes a difference – providing critical funding as we transition from a state-supported to state-assisted institution.
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The newly renovated Deuxieme Maison building courtyard features hanging planters and steel seating against a pop of blue to create an inviting space.