foundation financials (Audit, Aug. 31, 2015 and 2014)
STATEMENT OF FINANCIAL POSITION Assets 2015 2014 Cash and cash equivalents $ 2,099,602 $ 1,592,943 Investments 40,116,674 42,107,067 Funds held in trust 444,532 290,805 Charitable Gift Annuities 291,234 280,708 Other assets 54,570 55,173 Total invested funds 43,006,612 44,326,696 Contributions receivable 928,872 1,107,222 Real estate 811,607 1,008,445 Deferred expense 764,518 670,973 Total assets $ 45,511,609 $ 47,113,336 Liabilities Accounts payable-Tyler Junior College Deferred revenue Total liabilities
735,045 87,714 822,759
764,173 85,830 850,003
Net assets Unrestricted 7,486,918 8,821,890 Temporarily restricted 5,710,547 8,435,954 Permanently restricted 31,491,385 29,005,489 Total net assets 44,688,850 46,263,333 Total liabilities and net assets
$ 45,511,609
$ 47,113,336
TJC FOUNDATION TOTAL ASSETS $50,000,000
Billy Hibbs, Jr. Chair Billy Hibbs, Jr. is one of the longest continuously serving members of the investment committee. Billy is Chairman and CEO of Heartland Security Insurance Group, and he is also a TJC alumnus. Lee Gibson Lee Gibson is a certified public accountant and Chief Financial Officer and Senior Executive Vice President for Southside Bank. He also served as Chairman of Federal Home Loan Bank of Dallas from January 1, 2007 to December 31, 2012. David McCullough David McCullough previously worked with Gilead Science, Inc., one of the world’s largest biopharmaceutical companies. As a private investor, he joined the Investment Committee and the TJC Foundation board in 2012. Jim Perkins Jim Perkins is the President of Citizens 1st Bank with locations in Tyler, Jacksonville, Rusk and Nacogdoches. Citizens 1st Bank is one of the highest rated banks in the nation by TheStreet.com Ratings, Bauer Financial Reports and Veribank Bank Rating Company. Eleanor Stringer
$40,000,000 $30,000,000 $20,000,000 $10,000,000 $0
Foundation Investment Committee
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Eleanor Stringer is a community volunteer dedicating countless hours through her service on various boards and charities through the years. She also volunteered her time to visit places like Belize to help with medical and dental care.
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