Financial Highlights

The fiscal year that ended June 30, 2009 (FY09), presented economic challenges at all levels of our society. Despite the widely felt impact of the economic downturn, the Foundation continued to see a generally positive trend in one of the markers that is most important – the amount of dollars that the Foundation distributed for the benefit of students, faculty and educational programs at the University of Idaho. Foundation distributions of gifts to the University for FY09 totaled $9.7 million, compared to $8.8 million for FY08.

The Foundation's pooled endowment fund, the Consolidated Investment Trust (C.I.T.) distributed earnings of $7.3 million in FY09. Although this was a decrease from the record-setting $8.1 million in FY08, the decline was not as severe as anticipated, thanks to strategic investment planning. As of June 30, 2009, total C.I.T. distributions crossed the $100 million mark, a milestone that coincides with the C.I.T.'s 50th birthday.

FY09 distributions of endowment earnings and gifts, totaling $17.0 million, supported a wide variety of academic programs, faculty development and research, theater and music programs, facilities, athletics, and most importantly, academic scholarships and other student opportunities.

The total assets of the Foundation had decreased to $184.4 million at June 30, 2009, from $216.6 million at June 30, 2008. The decrease can be attributed primarily to a decline in market values of investments held by the C.I.T. The C.I.T.'s assets of $156.7 million accounted for 85 percent of the Foundation's total assets at June 30. Foundation gift revenue declined moderately to $16.7 million in FY09 compared to $17.7 million in FY08. As these declines are likely a reflection of current economic conditions, the Foundation expects to see an upturn in both total assets and gift revenues during the next few years.