Troy University Foundation

“The foundation has collections of artwork that are used to support troy university students, faculty, staff and alumni by creating educational opportunities and to heighten understanding and appreciation of the visual world. Troy university has created an art museum where these works of art will be displayed.”

“Troy university alabama code section 16-13-2 authorizes state institutions to invest endowment funds and funds held for investment. The funds held for investment policy allows the university's nonoperational funds to be invested to earn a maximum total return that preserves the purchasing power of nonoperational funds held for investment while generating an income stream to support the needs of the university; and to more closely correlate the investment strategy therein with the investment policy of the foundation within the constraints of what is allowed by the code of alabama. The funds held for investment's real total return will be sought from an investment strategy that provides an opportunity for superior total returns within acceptable levels of risk and volatility. Such investment strategy includes transferring a portion of the funds held for investment to the foundation to be invested in accordance with its investment policy as directed by its stewardship committee and approved by its board of directors. As of september 30, 2024, the university has transferred a total of $70,000,000 to the foundation for investment. The university's investments are not co-mingled with the foundation's investment pool. Below is a summarization of the university's investments held by the foundation: balance at beginning of year $ 114,178,857 investment income 17,696,469 transfer to university (47,151,919) balance at end of year $ 84,723,407 center services, inc. (csi) invested $626,700 in the foundation's pooled endowment. The csi fund receives an allocation of the earnings and losses on the pooled investments on a quarterly basis. The activity of this endowment and its balance as of september 30, 2024, is summarized in the following schedule: balance at beginning of year $ 708,010 investment income 169,298 balance at end of year $ 877,308”

“The foundation establishes endowed funds to support donor(s) purposes in perpetuity. Gifts of cash or cash generated from conversion of a non-cash asset are invested in the troy foundation endowed investment pool. It is the goal of the foundation endowment investment policy to provide a real total return from assets invested that will preserve and increase the purchasing power of the endowment capital, while generating the maximum yield to support the activities of the funds held for the colleges, schools, departments, units and programs of the university.”

“The foundation is recognized by the internal revenue service as a tax-exempt organization under section 501(c)(3) of the internal revenue code. Certain types of income may be subject to tax from unrelated business income as defined by the tax code. At times, the foundation receives royalty and other income that may be taxable. During fiscal years 2024 and 2023, the foundation paid approximately $25,505 and $24,255 in unrelated business income tax for taxable income generated in fiscal years 2024 and 2023, respectively. The foundation follows the accounting guidance for uncertainty in income taxes using the provisions of fasb accounting standards codification (asc) 740, income taxes. As of september 30, 2024 and 2023, the foundation has no uncertain tax positions that qualify for recognition or disclosure in the financial statements and no interest and penalties related to income taxes.”

“Fundraising expenses 153,257. Rental expenses 172,838.”

“Distributions from perpetual trust 76,117. Change in value of split interest agreements -72,319.”

“Fundraising expenses 153,257. Rental expenses 172,838.”