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Post by Deleted on Jan 9, 2018 20:07:54 GMT -5
I'm of the opinion that La Salle is as solvent as a university of it's kind can be in 2018. However, if you're inclined to dig in to the numbers, here's the most recent audited financial statement La Salle begrudgingly made available, covering through through May 2016. LinkA few things stick out: 1. La Salle valued the whole of the art collection at $4,335,451 in 2016. 2. La Salle bunches in the athletic department with student services, with a total expenditure of$19,408,037. 3. The most interesting part is on page 18 with regard to a $5,204,170 conditional donation: 4. La Salle pulled in $3.09m in private unrestricted gifts and $4.12m total over the period examined, compared with $6.22m a year prior. For comparison, St. Joes pulled in $8.69m over the same period and $5.75m in the prior year.
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Post by explorer88 on Jan 10, 2018 13:31:43 GMT -5
I'm of the opinion that La Salle is as solvent as a university of it's kind can be in 2018. However, if you're inclined to dig in to the numbers, here's the most recent audited financial statement La Salle begrudgingly made available, covering through through May 2016. LinkA 3. The most interesting part is on page 18 with regard to a $5,204,170 conditional donation:
. The University is also the beneficiary to a charitable reminder unitrust in the amount of $2,007,406 as of May 31, 2016 with the equivalent restrictions." Great find. I always review the 990 bud didn't realize the new one was published. It cements a lot of the narrative we have all heard although the dollar amount is smaller than I was led to believe. We will see if La Salle can avoid losing that donation and get a new facility going by 2023.
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Post by blueandgold on Jan 10, 2018 14:18:46 GMT -5
1. La Salle valued the whole of the art collection at $4,335,451 in 2016. For context, I think it is important to point out this disclosure in the Notes: "All contributions of works of art, historical treasures, and similar assets have been recognized at their estimated fair value at the date of receipt based upon appraisals or similar valuations, or at cost if purchased. All such items, whether contributed or purchased, have been capitalized. Works of art, historical treasures, and similar items are not depreciated." Given the ongoing art sale discussion and expected auction proceeds, I don't want folks to think the entirety of the value in the collection is going away with the small percentage to be sold of total items. Appreciation in the value of these assets is not captured in the $4.3M on the balance sheet.
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