2007 – 2008 Messiah College President's Report - (Page 25)

AS S ETS Cash and cash equivalents . . . . . . . . . . . . . . . . . . . Notes and accounts receivable, net . . . . . . . . . . . . . Pledges receivable, net and Interest receivable. . . . . Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Prepaid expenses and other assets. . . . . . . . . . . . . . Assets held in trust. . . . . . . . . . . . . . . . . . . . . . . . . . Loans receivable - students . . . . . . . . . . . . . . . . . . . Deposits with trustee under debt agreements . . . . . . Funds held in trust by others . . . . . . . . . . . . . . . . . . June 30, 2008 19,062,170 1,375,050 1,882,832 557,308 770,010 23,699,001 2,935,892 1,230,841 4,011,026 June 30, 2007 26,251,024 1,540,207 297,548 517,779 590,808 134,235,052 26,195,012 2,831,627 1,306,629 4,415,088 111,291,946 309,472,720 A L L E N F. K N O U S E ’ 6 8 retired elementary school teacher and world traveler Investments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135,614,885 Donor proﬁle Allen, who enjoys traveling and has visited sites in Europe, the Far East, and every state in the continental U.S., regularly incorporated photos and experiences from his many trips into his classroom teaching. His advice to Messiah College education students? “Realize that every child is different. They’re not all coming into your classroom with the same level of experience or the same natural gifts. Therefore, you just have to take them from where they are.” Property and equipment, net . . . . . . . . . . . . . . . . . . 111,766,894 Total Assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 302,905,910 L I ABI L I TI ES AND NET AS S ET Liabilities: Accounts payable and accrued expenses . . . . . . . . . Student deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . Funds held in custody for others . . . . . . . . . . . . . . . Deferred revenue . . . . . . . . . . . . . . . . . . . . . . . . . . Annuities payable . . . . . . . . . . . . . . . . . . . . . . . . . . Funds held in trust for others . . . . . . . . . . . . . . . . . . Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . U.S. government grants refundable . . . . . . . . . . . . . Other Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net assets: June 30, 2008 4,448,469 1,133,859 66,663 379,381 19,115,620 2,650,680 59,939,449 2,397,317 1,931,740 92,063,178 June 30, 2007 5,897,142 1,229,661 240,222 359,025 20,105,115 3,192,799 62,459,982 2,442,362 1,826,549 97,752,857 About his giving By gifting real estate into a Charitable Remainder Trust, Allen accomplished a number of his objectives. The transfer created a charitable income tax deduction, which helped reduce current taxes. In addition, when the trust sells the property, he avoids capital gains tax on the property. Proceeds from the sale will generate a lifetime income stream to supplement his retirement income. Ultimately, when the trust ends, the remaining value will be placed into the Knouse Family Endowed Scholarship Fund to bene t education majors at Messiah College. Unrestricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172,585,857 Temporarily restricted . . . . . . . . . . . . . . . . . . . . . . . Permanently restricted . . . . . . . . . . . . . . . . . . . . . . . 16,952,672 21,304,203 173,166,125 18,212,910 20,340,828 211,719,863 309,472,720 Total Net Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 210,842,732 Total Liabilities and net assets . . . . . . . . . . . . . . . . . 302,905,910 M ES S I A H CO LLEGE N E T AS S E TS F Y 97 TO F Y 08 (in m illions of dol l ars) 250 200 150 100 50 0 FY97 FY98 FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 Permanently Restricted Temporarily Restricted Unrestricted Net Assets 25 http://www.messiah.edu http://www.messiah.edu/departments/education/elementary.html http://www.messiah.edu/offices/development/ways_to_give/trusts.html http://www.messiah.edu/offices/development/ways_to_give/trusts.html http://www.messiah.edu/departments/education/elementary.html

Table of Contents Feed for the Digital Edition of 2007 – 2008 Messiah College President's Report

2007 – 2008 Messiah College President's Report Contents The Fusion of Intellect and Faith Centered on Scholarship Fueled by Faith Energized for Impact Stewards of our Mission Financial Reports / Volunteer Leader Appreciation Donor Recognition From Our Core Messiah College at a Glance A Year in Photos

2007 – 2008 Messiah College President's Report

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.