SAE Foundation Annual Report 2013 - 64

SAE FOUNDATION
Notes to the Financial Statements (Continued)
Note 2 - Restatement
During the current year, SAE's management found errors in the classification of previously
reported net assets through the review of historical information and renewed discussions with
donors, which provided additional clarification as to the donor's intent. As a result, the financial
statements as of December 31, 2012 have been restated to correct these errors in classification
and temporarily restricted net assets have been decreased and permanently restricted net assets
have been increased by $270,859 from the previously reported balance.
The effect of the restatement on the statement of financial position as of December 31,
2012 was as follows:
As
Previously
Reported

As
Restated

Restatement

Temporarily restricted net assets

$ 7,720,687

($

270,859)

$ 7,449,828

Permanently restricted net assets

$ 2,492,178

$

270,859

$ 2,763,037

Note 3 - Investments
Investments at fair value consist of the following at December 31:
2013
Cash
Equity
Large Value
Large Core
Large Growth
Mid Value
Mid Growth
Small Value
Small Growth
Developed International
Emerging Markets

$

57,030

2012
$

52,062

429,851
2,737,259
487,938
337,440
333,900
263,174
293,059
725,287
1,007,900
6,615,808

Total fixed income
Page 12

113,865
3,997,000

4,380,841

Fixed income
International
Domestic

5,529,379

4,380,841

Total equity

292,357
2,450,774
172,894
257,334
313,646
211,746
257,211
625,947
947,470

4,110,865



SAE Foundation Annual Report 2013

Table of Contents for the Digital Edition of SAE Foundation Annual Report 2013

SAE Foundation Annual Report 2013 - Cover1
SAE Foundation Annual Report 2013 - Cover2
SAE Foundation Annual Report 2013 - 1
SAE Foundation Annual Report 2013 - 2
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SAE Foundation Annual Report 2013 - 65
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SAE Foundation Annual Report 2013 - Cover3
SAE Foundation Annual Report 2013 - Cover4
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