AOG Finances

The CFO, Geoff Louis ‘64, gave the overview. (See slides.)

• Total Assets. Liquid and non-liquid assets (buildings) total about $178 million.

• Consolidated Balance Sheet. Pledges receivable are net of allowance for doubtful accounts and calculated at present value, both of which lower the total amount. Net assets are about $157 million.

• Total Cash. Academy Support funds total $92 million; the LGL endowment is $26.2 million; and other AOG support totals $16.2 million.

• Number of Accounts. The AOG maintains 491 separate accounts, including 177 endowments.

• Consolidated Income Statement. About $42 million flows through the AOG annually.

• Long Gray Line Endowment Status. The corpus (or principal) is $16.1 million and cannot be touched without an extraordinary vote. The total is $26.2 million.

• Combined Operating Budget. About $9 million is needed annually. To produce such annual income (by taking a recommended 4% from an endowment) requires about $225 million in an endowment.

• The status of class admin and gift funds is updated quarterly and available online.

• 2006 Budget Challenges and Opportunities. Much of the additional money will be spent on upgrades to technology and websites.

• Investment Portfolio. Long term investments have realized 10.6% this past year, while short term brought in a disappointing 1.2%. Current brought in 2.7%.

• Performance. Overall, as of 30 June 2005 (the latest data available), we were doing better than most colleges and universities polled.

• Reports of distributions of endowment income are available online.