Financial Performance

During the fiscal year that ended June 30, 2008, the Foundation made a record-setting $8.1 million distribution from the Consolidated Investment Trust (C.I.T.) endowments that support the University of Idaho. In addition, $7.8 million in current gifts were transferred to support academic and athletic scholarships and other student opportunities, academic programs, support for outstanding faculty, research, the arts and more. An additional $1 million in real property gifts and outright gifts directed to building projects were transferred to the University. During the past 10 years, the Foundation has distributed more than $158 million to support access to higher education and enhance learning experiences for University of Idaho students.

As of June 30, 2008, total assets of the Foundation had decreased to $216.6 million from $235.3 million at June 30, 2007, in large part, due to declining economic and market conditions. The Consolidated Investment Trust (C.I.T.) accounted for 87 percent of the Foundation's assets. The C.I.T. is a pooled endowment fund that was established in 1959 with 25 endowments valued at $441,460. As of June 30, 2008, the C.I.T. included 1,290 endowments and had total assets of $187.6 million, including a portfolio of marketable securities.

For fiscal year 2008, Foundation gift revenue increased by $6.4 million to $17.7 million. Investment revenue increased to $10.6 million from $10.1 million, a reflection of market conditions and an increase in gifted funds held for investment.