advancement review | 2014-2015

Table of Contents

5 Letter from Brooks A. Keel, PhD

6 Augusta University Overview

10 Augusta University Foundation

12 Georgia Health Sciences Foundation

14 Medical College of Georgia Foundation

16 Office of Advancement Overview

19 Foundation Financials

2

3

Together we will write new pages in

the history books of this outstanding

university, elevating it to heights

that we can now only imagine.

- Brooks A. Keel, PhD - PRESIDENT, AUGUSTA UNIVERSITY

CEO, AUHEALTH

You Make A Difference “The Presidential Scholarship lets me focus on what is truly

important, my studies. Every day, I am thankful for the aid I

receive and constantly feel grateful for the donors who make this

all possible; not to mention how ecstatic my parents feel! This

scholarship is truly a blessing and has made my experience at

Augusta University unforgettable.”Vamsi Reddy, COLLEGE OF SCIENCE AND MATHEMATICS

“I have so much gratitude toward the Harrison family for the donations that led to my scholarship. This scholarship has been an incredible opportunity and will continue to be an incredible opportunity for many students in the years to come.”Robert MacDonell, MEDICAL COLLEGE OF GEORGIA

Vamsi Reddy, COLLEGE OF SCIENCE AND MATHEMATICS

Dear Readers:You play one of the most important roles in our university and

academic medical center. You help fuel dreams by providing much-

needed funds for our students, our faculty and our groundbreaking

research efforts. Your gift makes a difference. I invite you to read about

the many things we accomplished through your generosity.

Another key partner group for our university is our foundation

board members. These individuals are highly committed to advancing

our university and health system. The Medical College of Georgia

Foundation, the Augusta University Foundation and the Georgia

Health Sciences Foundation board members are fiercely loyal to our

vision and mission. Collectively, they offer fiduciary oversight of your

philanthropic contributions.

This report spans the time period of July 1, 2014, through June 30,

2015. The timing of the distribution of this material is intentional —

as we want to make sure that the financials you receive are audited,

providing you with the most accurate information possible. External

audits, generally conducted for us in October, ensure we are operating

at the industry’s highest level of accountability.

Much has happened since the close of the fiscal year in June. As the

first president of Augusta University, it is my intent to continue to

honor the rich history of our legacy institutions — while moving us

forward strategically.

We look forward to calling on you to help us. Together we will

write new pages in the history books of this outstanding university,

elevating it to heights that we can now only imagine.

Sincerely,Brooks A. Keel, PhD PRESIDENT, AUGUSTA UNIVERSITY CEO, AUHEALTH

5

College of Allied Health Sciences — 1931 232 UNDERGRAD | 399 GRAD 62 FT FACULTY | 24 PT FACULTY Katherine Reese Pamplin College of Arts,

Humanities and Social Sciences — 2012 1,549 UNDERGRAD | 30 GRAD 107 FT FACULTY | 58 PT FACULTY Hull College of Business — 1971

782 UNDERGRAD | 79 GRAD 27 FT FACULTY | 15 PT FACULTY The Dental College of Georgia — 1969 334 PROFESSIONAL | 59 POST PROFESSIONAL | 10 GRAD 75 FT FACULTY | 37 PT FACULTY College of Education — 1925 560 UNDERGRAD | 312 GRAD 41 FT FACULTY | 38 PT FACULTY

College of Nursing — 1956 366 UNDERGRAD | 485 GRAD 58 FT FACULTY | 135 PT FACULTY College of Science and

Mathematics — 2012 1,419 UNDERGRAD | 32 GRAD 75 FT FACULTY | 33 PT FACULTY

Medical College of Georgia — 1828 924 PROFESSIONAL | 534 POST PROFESSIONAL | 122 GRAD 543 FT FACULTY | 205 PT FACULTY

The Graduate School — 2013 1,033 GRAD*

* Students counted in The Graduate School are also counted in the respective Academic Colleges

Breakdown of Colleges

6

NEW FRESHMEN 775

OTHER UNDERGRADUATES 4,201

MEDICAL RESIDENTS 510

DENTAL RESIDENTS 83

GRADUATE/PROFESSIONAL 2,764

Student Enrollment

Total Enterprise Workforce

13,959

As of 6/30/15

Total Students

8,333

As of Fall of 2015

7,117 STUDENTS

FROM GEORGIA

593 MEDICAL AND DENTAL

RESIDENTS

Total Volunteer Faculty

2,707As of Fall 2015

Total University Faculty

1,661 Faculty Breakdown

1,110 FULL-TIME

551 PART-TIME

FY 2012 19,447

FY 2013 18,985

FY 2014 19,178

FY 2015 19,556

Total Outpatient Visits

365,400As of 6/30/15

Total Inpatient Admissions

19,556

ASSOCIATE 7

CERTIFICATE 22

BACHELOR’S 1,013

MASTER’S 435

POST-MASTER’S/SPECIALIST 56

DOCTORAL/PROFESSIONAL 384

POST-PROFESSIONAL 29

Degrees Conferred

WORKFORCE STUDENTS FACULTY PATIENT CARE

As of 6/30/15

MA

OH316

TX1,089

NY330

PA307

MD

CO355CA

777

WA285

IL225

AZ249

OR174

MI164

IN157

NJ

MO169

WI112

OK100

MN99

CT

KS85

NM82

UT87

MT55

NV92

HI67

VA936

FL2,269

AL904

GA34,721

SC4,827

NC1,994

TN1,175

LA241

KY251

MS186

AR101

WV69

AK50

ME56

NE56

ID49

RI

IA80

NH

DC49

DE

VT

SD22

ND8

WY19 94

35

193

31

399

134

28

24

7

Student Enrollment

Alumni Distribution by State

Degrees Conferred

Your gift makes a difference.“Investing in those who invest in themselves is one of the most successful methods of

accelerating the development of society. Without your generous contribution, the path to our

academic success would have been far more strenuous. Our appreciation is beyond words.”

- Sophia Viller, HULL COLLEGE OF BUSINESS -

Augusta University FoundationThe Augusta University Foundation was established in 1963 to support the advancement

of education and scholarship for its students. Today, the Foundation supports four

academic colleges – the Pamplin College of Arts, Humanities, and Social Sciences; the

Hull College of Business; the College of Science and Mathematics; and the College of

Education – which offer dozens of degree programs for thousands of undergraduate,

graduate and doctoral students from around the world.

The mission of this foundation continues to be championed by a dedicated board of

trustees, who are leaders in business, community service, education and philanthropy.

The good work of AUF is made possible through the generosity of alumni, community

leaders and friends of the university.

Mission

The sole purpose of the foundation is to advance the mission of Augusta University and

its long-term academic priorities through the following means:

• The development of financial support from individuals, corporations and other organizations

• The investment and management of funds donated to the foundation

• The use of its assets to fund and assist specific university functions and activities

• Any and all other lawful activities that the trustees and the

president of the university deem to be useful to advance

the mission of Augusta University

Janice RobertsFor 27 years, Janice Roberts dedicated herself to her students —

working tirelessly as a teacher. In her spare time, she indulged her

love for classical music and was a source of great encouragement to

many musicians. She lived modestly, all the while quietly donating

to causes that were meaningful to her. She helped make possible the

installation of a Dobson pipe organ at her beloved St. John United

Methodist Church. She also enthusiastically supported the creation

and continuation of Concerts with a Cause – which still serves

numerous not-for-profits

in the Augusta area.

Mrs. Roberts sealed

her legacy as a genuine

philanthropist when she

passed away in December,

2013 – leaving the bulk

of her estate to support

scholarships for students in

the College of Education. 10

Dr. Zach Kelehear, Dean of College of Education,

and Karen Warren, three-time alumna of

Augusta University and recipient of the

Lyle Smith Scholarship.

Rick TooleChair

Owner/President W.R. Toole Engineers Inc.

Augusta, GA

Stacy Tallent Vice Chair President

Health Center Credit UnionEvans, GA

Susan Hunnicutt Secretary-Treasurer

Augusta Area President Wachovia Wells Fargo Bank

Augusta, GA

Philip R. Wahl IIImmediate Past Chair

Augusta Market President First Community Bank

Augusta, GA

Mary Anderson, MDPartner

Pediatric Partners of Augusta Augusta, GA

Ricardo Azziz, MD, MPH, MBA

Former PresidentGeorgia Regents University

Susan Barcus

SVP Advancement & Chief Development Officer Augusta University

Augusta, GA

John C. Bell Attorney

Law Offices of Bell and Brigham Augusta, GA

Sandra Carraway, EdDSuperintendent,

Columbia County Schools Evans, GA

Gretchen Caughman, PhDEVP Academic Affairs & Provost

Augusta University Augusta, GA

Bill D’Antignac Senior Director of Brokerages

Wells Fargo Advisors Jacksonville, FL

Edwin L. Douglas President

Glynn Farms Augusta, GA

The Honorable Pamela J. Doumar

Juvenile Court Judge Burke, Richmond and Columbia

Counties Augusta, GA

Jean Duncan Membership Sales Representative

Columbia County Chamber of Commerce

Augusta, GA

Rhonda Graybeal Owner

Hang-Ups Custom Framing and Art Gallery

Augusta, GA

Alvin HarrisOwner

Horizon Motor Coach Augusta, GA

Jim JathoPresident

Concerned Care Augusta, GA

James Kendrick

President Augusta Blueprint Inc.

Augusta, GA

Stephen Kendrick Co-owner

Kendrick Paint and Body Augusta, GA

George-Ann Knox Community Volunteer

Augusta, GA

Mie Lucas Chair

Augusta University Alumni Association

Augusta, GA

Vic MillsCEO

Blanchard & Calhoun Commercial Development Company

Augusta, GA

George Pursley, MDPhysician

Internal MedicineAugusta, GA

Gerald Shumpert President

Coca-Cola Bottling Company Augusta, GA

The Honorable Barbara Sims

Georgia State Representative District 123 Augusta, GA

Dennis Sodomka Community Volunteer

Augusta, GA

Christian StrackeManaging Director

PIMCO Los Angeles, CA

Brad UsryPresident

Fat Man’s Mill CaféAugusta, GA

Tony Wagner EVP for Finance & Administration and

Chief Business Officer Augusta University

Augusta, GA

Anita WyldsSpecial Projects Coordinator

Xytex Corp. Augusta, GA

Board of Trustees

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EMERITI TRUSTEES

William B. KuhlkeOwner

Kuhlke PropertiesAugusta, GA

The Honorable J. Carlisle Overstreet Chief Judge Superior Court

Augusta, GA

Bernard SilversteinRetired CEO

Silverstein CleanersAugusta, GA

612

Georgia Health Sciences FoundationEstablished in August 2008, Georgia Health Sciences Foundation supports many major

areas of the enterprise. The College of Allied Health Sciences, The Dental College of

Georgia, The Graduate School, the College of Nursing, Augusta University Medical

Center and Children’s Hospital of Georgia all benefit from the foundation, which aims to

provide excellence in teaching, discovery, clinical care and research.

The good work of the foundation is conducted through a dedicated board of directors that

includes individuals of diverse backgrounds and experience, who are leaders in business,

community service and philanthropy.

Mission

To administer with fiduciary care the assets of the Foundation and to devote the same to

the long-term enhancement of Augusta University; and to provide volunteer leadership

and assistance to Augusta University in its development and fundraising activities; and

to provide broad advice, consultation and other support to the president of Augusta

University. The Foundation shall fulfill its mission to support Augusta University by also

supporting the Augusta University Health System and its components.

M. Bert StoreyIn July, 2015 a small group gathered to recognize a man who is as humble

as he is kind. Just a few short weeks before the event, M. Bert Storey

quietly, and without fanfare, made a sizeable gift to name the Cancer

Research Building. Others quickly followed suit with donations in

support of this cutting-edge space that will be located alongside the

existing structure and will cross over Laney-Walker Blvd. to connect

with Augusta University’s Clinical Cancer Building.

The M. Bert Storey Cancer Research Building will be home to a growing

team of basic science and translational researchers who will seek to

better understand cancer and develop new therapies for the disease.

The Storey Cancer Research Building will help facilitate discovery by

connecting these researchers with clinicians and patients, and expedite

the process of taking new treatments from the bench to the bedside as a

result of the increased collaboration.

Storey’s commitment to the Cancer Center is born out of his love for

Augusta and his desire to support a world-class cancer center that

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Board of TrusteesDan DeLoach, MD

Chair Physician

Savannah Plastic Surgery and Skin Institute

Alumnus, Augusta University, Medical College of Georgia

Savannah, GA

Robert C. OsborneSecretary

Executive Vice President Georgia Bank & Trust

Augusta, GA

H. Montague Osteen Jr.Treasurer

President & CEO Financial Holdings of Augusta Inc.

Augusta, GA

Bruce Ashendorf, DMDDentist

Northlake Dental Partners Atlanta, GA

Ricardo Azziz, MD, MPH, MBA

Former PresidentGeorgia Regents University

Susan Barcus SVP Advancement & Chief

Development Officer Augusta University

Augusta, GA

Clayton P. Boardman III President & CEO

Flywheel, LLC Augusta, GA

Paisley Boney IVFounder & CEO

Hyde Retail Partners Atlanta, GA

William P. Brooks, MD Physician

South Macon Family PhysiciansMacon, GA

Christine Crawford, PhD Owner/Operator &

Director of Operations D&G ManagementNorth Augusta, SC

Karen Hughes CEO & Owner

Corporate Environments Atlanta, GA

Paul G. Isler, DDSDentist

Paul G. Isler Dental Atlanta, GA

Deborrah Layman, BSN Layman Holdings Inc.

North Augusta, SC

William McKnight, SCD President & CEO

McKnight Construction Company Inc. Augusta, GA

Susan Nicholson Community Volunteer

Augusta, GA

Philip R. Wahl II Augusta Market President

First Community Bank Augusta, GA

Betty Wray, MDMCG Emeritus Faculty

Alumna, Augusta University, Medical College of Georgia

Augusta, GA

– though located in the heart of

his beloved city – will serve all

Georgians. Indeed, the extraordinary

provision of this space will advance

groundbreaking research in cancer

that has worldwide implications.

With an anticipated opening date of

January, 2018, we look toward the

unfolding future of cancer research

with great hope – inspired by a man

whose philanthropy makes him a

leader among men.

14

The Medical College of Georgia FoundationThe Medical College of Georgia Foundation was founded on October 19, 1954, representing a long-term endeavor for its principle founders, Drs. Edgar Pund and G. Lombard Kelly, who looked for a way to advance the Medical College of Georgia through private support. The first efforts to establish a foundation were fostered by Drs. Pund and Kelly in 1937 through the “Alumni Fund.” Unfortunately, it was discontinued after two years. In 1939, new effort was initiated to seek “unrestricted” support for MCG. At that time, only 50 percent of the state’s appropriation was made available to the medical college. However, a community finding its way out of a depression and into a war had little prosperity to share. It was in the spring of 1954 that Drs. Pund and Kelly approached the Alumni Association of the Medical College of Georgia for a third time with the proposition of establishing a philanthropic foundation. At the Association’s annual meeting in Macon, Drs. Pund and Kelly were supported honorably and monetarily by MCG alums, Drs. J. C. Metts, William Barton and Addison Simpson. After years of both success and failure, the idea had enough support to take root. These distinguished alumni and university leaders recognized a need that could only be answered through philanthropic support. Acknowledging the desire of many to give back, the founders set in motion the process of engaging the very first private donors. The product of this process was the Medical College

of Georgia Foundation.

Mission

The Mission of the Medical College of Georgia Foundation is to improve the quality of life of the people of Georgia, the nation and the world by supporting the advancement of education, research and patient care at the Medical College of Georgia. The Foundation was incorporated in 1954 as a not-for-profit corporation to acquire and hold property and money to improve and maintain the high standards of instruction at the Medical College of Georgia, to create and maintain fellowships for the study of medicine and related disciplines, to create and maintain facilities for research in medical science by both faculty and students and to award scholarships and in other ways assist MCG Students.

J. Harold Harrison, M.D. Education Commons Grand Opening

October 16, 2014, marked a historic day in the life of Augusta

University. On that beautiful fall day, the new home of the Medical

College of Georgia was officially dedicated by Governor Nathan Deal,

Chancellor Hank Huckaby and a host of others.

Many on the dais expressed deep appreciation to the family of

J. Harold Harrison, M.D., during the formal dedication. Mrs. Sue

Harrison, who sat in the audience, graciously acknowledged the

recognition for Dr. Harrison’s gift of $10 million toward the building.

Just outside of the 300-seat classroom where the ceremony was taking

place stood a lasting tribute to the life of Dr. Harrison – highlighting

his legacy as a physician, farmer, family man and philanthropist.

Tours following the event featured numerous names that appear

on small group rooms, learning communities, classrooms and much

more. Many MCG alumni made selfless contributions to the 175,000-

15

Board of Trustees

square foot building in an

unprecedented manner.

The building’s expansive patio

is named for the Boardman

family, while two large 150-

seat classrooms are named

for the Hull and McKnight

families. A special sculpture

is displayed on one side of the

lobby – featuring three distinct

columns, each representing

the significant role that these

three families played, through

their philanthropy, in the

completion of the building.

Officers

Sandra N. Freedman, MDChair

Augusta, GA

Mason P. Thompson, MD 1st Vice Chair Augusta, GA

Paul G. Turk, MD2nd Vice Chair

Macon, GA

Peter M. Payne, MDSecretary

Augusta, GA

Lloyd B. Schnuck Jr, MDTreasurer

Augusta, GA

Board Of Directors

Benjamin H. Cheek, MDColumbus, GA

H. Gordon Davis Jr., MDSylvester, GA

J. Benjamin Deal, DMDAugusta, GA

Ellen S. Goodrich, RN, MNMilledgeville, GA

Charles G. Green Jr., MDAugusta, GA

J. Daniel Hanks Jr., MD Rome, GA

Melvin Haysman, MDSavannah, GA

Judith Hodnett, RN, MSN White Plains, GA

James M. Hull, LHD Augusta, GA

Charles D. Johnson, CPA Columbus, GA

Christopher J. Mann, MD Albany, GA

Matthew McRae Jr., DMD Athens, GA

Sylvester McRae, MDColumbus, GA

Sam Richwine Jr., MDGainesville, GA

Harvey L. Simpson, MDMilledgeville, GA

The Honorable Barbara SimsAugusta, GA

Emeritus Members

William E. Mayher III, MD Emeritus Chairman

Albany, GA

Harold S. Engler, MDAugusta, GA

Murray A. Freedman, MDAugusta, GA

Alva L. Mayes Jr, MDMacon, GA

David A. Owings, DMD North Augusta, SC

B. Lamar Pilcher, MDLoudon, TN

Cecil F. Whitaker Jr, MDColumbus, GA

Ex Officio Members

Ricardo Azziz, MD, MPH, MBA

Former PresidentGeorgia Regents University

Peter F. Buckley, MDDean

Medical College Of Georgia

Honorary Members And

Administration

James B. Osborne Sr, EdDPresident & CEOMCG Foundation

Ian S. Mercier, MBAChief Operating Officer

Assistant Secretary

Kathryn G. Yates, CPAController

Assistant Treasurer

Mallory C. Click, CPAAssistant Controller

Angela R. LanierExecutive Assistant

James A. Rinker JrDirector of Information Technology

Christian M. RomeroStewardship Coordinator

The Office of Advancement

Our mission is to generate greater engagement and philanthropic support from

individuals, corporations, foundations and the community at large for the teaching,

scholarship, research, clinical and service missions of Augusta University and Augusta

University ‘s health system. Our goal is to be an enabling force in our organization by

helping the university, our donors, partners and friends to discover what’s next.

Unity

We are a group of strong and diverse individuals unified by a common purpose.

Service

The people we serve are our priority, and our commitment to their satisfaction is unwavering.

Accountability

We stake our personal and professional reputations on the quality, accuracy and integrity of our work.

16

Total New Pledges $15,024,580

Total New Cash $8,538,790

Grand Total $23,563,370

AUF Total $1,205,833

GHSF Total $18,265,643

MCGF Total $4,091,894

Grand Total by Foundation $23,563,370

Giving by Constituency

Alumni $2,604,697

Corporate $5,432,656

Employee/Faculty $423,534

Fellow/Resident/Intern $2,747

Friends $6,054,047

Organizations/Groups $3,240,662

Personal/Community/Fdtns $5,805,027

Grand Total by Constituency $23,563,370

Giving by Designation

Capital $12,128,742

Faculty/Staff Experience $353,240

Outreach/Engagement $8,354

Patient Experience $26,183

Program Restricted $4,499,879

Research $2,996,651

Student Experience $2,766,310

Unrestricted $784,011

Grand Total $23,563,370

TOTAL GIFTS AND PLEDGESAdvancement Stats

MA

OH27

TX98

NY35

PA38

MD

CO15CA

57

WA25

IL38

AZ13

OR8

MI14

IN11

NJ

MO17

WI10

OK5

MN16

CT

KS12

NM1

UT4

MT1

NV3

HI1

VA52

FL123

AL47

GA3,215

SC720

NC108TN

55

LA7

KY16

MS11

AR1

WV4

AK2

ME1

NE2

ID5

RI

IA8

NH

DC6

DE

VT

SD3

ND3

WY18 12

2

336

22

29

1

3MA

Distinct donor counts by constituency Alumni 1,434

Corporate 395

Employee/Faculty 733

Fellow/Resident/Intern 18

Friends 2,038

Organizations/Groups 361

Personal/Community/Fdtns 50

Grand Total 5,029

Donor Distribution by State

18

Foundation Financials

Georgia Health Sciences Foundation

Augusta University Foundation

Medical College of Georgia Foundation

GHSF AUF MCGFAssets ________________________________________ _________________________________________________________

Cash and cash equivalents $ 231,039 $ 523,923 $ 3,417,262Cash restricted for specific use --- 3,263,356 ---Certificate of deposit --- 103,133 ---Investments, at fair value 15,476,522 27,228,573 216,819,592Accounts receivable Student loans receivable --- --- 20,366 Due from related party 80,506 6,576 --- Minimum lease payments receivable - related party --- 39,503,338 --- Other receivables --- 49,814 ---Pledges receivable, net 11,645,631 227,946 --- Property and equipment, net 2,350,000 927,251 4,223,955Investment properties, net --- --- 2,449,564Investments, related party 792,811 793,868 ---Cash and value of life insurance, net --- 226,724 302,932Bond issuance cost, net --- 975,318 ---Other Assets --- --- 31,133________________________________________ _________________________________________________________ Total Assets $ 30,576,509 $ 73,829,820 $ 227,264,804 __________________________________________________________________________________________________ __________________________________________________________________________________________________ Liabilities and Net Assets ________________________________________ _________________________________________________________

LIABILITIES

Accounts payable $ 103,690 $ 121,118 $ 2,213,206Due to Augusta University 94,974 --- ---Due to other related parties 431,801 --- ---Annuity payment liabilities 184,290 --- 834,695Notes payable 790,000 795,717 ---Bonds payable --- 25,925,000 ---Premium on bonds payable --- 1,906,002 ---Interest payable --- 460,531 --- Unearned interest revenue --- 11,480,372 ---Deferred grant revenue 706,146 --- ---Deferred revenue --- 28,333 116,081Other liabilities 2,023 --- ---________________________________________ _________________________________________________________ Total Liabilities $ 2,312,924 $ 40,717,073 $ 3,163,982 ______________________________________________________ ____________________________________________ __________________________________________________________________________________________________NET ASSETS

Unrestricted $ 3,387,911 $ 2,261,376 $ 20,038,655Temporarily restricted 22,914,658 13,020,663 69,120,698Permanently restricted 1,961,016 17,830,708 134,941,469 ________________________________________ _________________________________________________________

Total Net Assets $ 28,263,585 $ 33,112,747 $ 224,100,822__________________________________________________________________________________________________ __________________________________________________________________________________________________TOTAL LIABILITIES

AND NET ASSETS $ 30,576,509 $ 73,829,820 $ 227,264,804 __________________________________________________________________________________________________ __________________________________________________________________________________________________

Statement of Financial Position June 30, 2015

Revenues ________________________________________ ________________________________________________ Gifts and contributions, net $ 16,898,867 $ 1,391,341 $ 4,022,865Contributed services 1,043,745 1,181,346 ---Grant revenue 437,308 --- ---Support from affiliates 1,702,751 --- ---Rental income 12,300 --- 596,864Investment income, net 128,047 1,252,182 2,767,592 Change in value of trusts and annuities --- --- [50,462]Gain on capital lease --- 325,801 [628,816] Other income 109,735 245,555 68,333 _____________________________________________________________________________________ _________________________ Total Revenues $ 20,332,753 $ 4,396,225 $ 6,776,376 __________________________________________________________________ ____________________ ______________________________________________________________________________________ Expenses _________________________________________ ____________________________________________ Program expenses: Program support $ 4,065,228 $ 1,422,877 $ 5,630,421Fundraising expenses: University development 1,043,745 2,174,122 --- Alumni relations --- 64,697 --- Golf course project --- 14,706 ---Supporting services: General operating expenses 520,581 375,302 2,505,534 Interest expense 50,599 --- ---Loss on debt refunding --- 455,328 --- Loss from investments - related party 1,057 --- ---______________________________________________________________________________________ Total Expenses $ 5,681,210 $ 4,507,032 $ 8,135,955 ______________________________________________________________________________________ ______________________________________________________________________________________Net Assets________________________________________ _____________________________________________ Net assets beginning of year $ 13,612,042 $ 33,223,554 $ 225,460,401Change in net assets 14,651,543 [110,807] [1,359,579]______________________________________________________________________________________ NET ASSETS END OF YEAR $ 28,263,585 $ 33,112,747 $ 224,100,822 ______________________________________________________________________________________ ______________________________________________________________________________________

Statement of Activities For the year ending June 30, 2015

19

GHSF AUF MCGF

Thank You

The success and progress of Augusta University is made possible by the support of our alumni, friends and partners.

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