New England College

“The College has a collection, which consists of rare works of art, out of print books, ceramics, reference materials, and photographs, that was acquired through contributions since the Institute's inception. The College does not recognize collections as an asset in the statement of financial position. The collection is maintained for educational purposes and is to be maintained based on donor restrictions. The collections are protected and preserved for public exhibition, education, research and the furtherance of public service. Each of the items is cataloged, preserved, and cared for, and activities verifying their existence and assessing their condition are performed continuously.”

“The College's endowment primarily consists of funds established for scholarships. Its endowment includes both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments. As required by U.S. GAAP, net assets associated with endowment funds, including funds designated by the Board of Trustees to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. The College has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets. Endowment assets include those assets of donor-restricted funds that the College must hold in perpetuity or for a donor-specified period(s), as well as Board-designated funds. Under this policy, as approved by the Board of Trustees, the endowment assets are invested in a manner that is intended to produce results that exceed the price and yield results of appropriate market indices while assuming a moderate level of investment risk. The College's investment objectives are to provide a total return sufficient to support the College's operating budget while preserving the assets against inflation. To meet these objectives, the Board seeks a total return of at least 5% greater than the rate of inflation, as measured by the Consumer Price Index over a long-term horizon. Total return is defined as dividends or interest income, plus or minus realized and unrealized capital appreciation or depreciation at fair market value, net of fees. The maximum amount of endowment income utilization is determined by a spending formula approved by the Board of Trustees. The amount available for spending ranges between 5% and 7% of the previous three-year average market value for the years ended June 30, 2025 and 2024, respectively. The amounts available to be distributed, net of unspent endowment income, under the spending policy were $1,552,164 and $1,298,397 for the years ended June 30, 2025 and 2024, respectively. These amounts are included in change in net assets from operations. Investment return greater or less than the amounts available to be distributed under the spending policy is reported as a change in net assets from non-operating activities.”

“Fundraising Expenses 23,554. Rental Expenses 460,964.”

“Institutional Financial Aid 28,880,567. Change in Value of Interest Rate Swap Agreement 785,139. Change in Allowance for Uncollectible Accounts Receivable 597,370.”

“Rental Expenses 460,964. Fundraising Expenses 23,554.”

“Institutional Financial Aid 28,880,567.”