Answer the following questions by reading the most recent annual report of the University of Notre Dame that can be accessed by going to www.nd.edu.
a. For the most recent year, how much cash did donors contribute for the acquisition of buildings and equipment?
b. On the statement of changes in unrestricted net assets, how does the university decide what information to disclose in the nonoperating section?
c. On the statement of changes in unrestricted net assets for the most recent year, how much of the net assets released were for operations?
d. What is the university’s accounting policy for its art collection?
e. What interest rate did the university use to determine the present value of multiyear pledges?
f. On the statement of financial position at June 30 for the most recent year, how much of the amount reported for contributions receivable is unrestricted?
g. At June 30 of the most recent year, what amount of unrestricted net assets is designated by the board?
h. True or false: Operating expenses on the statement of changes in unrestricted net assets for the most recent year are reported by functional categories.
i. True or false: Land, buildings, and equipment, net of accumulated depreciation, are reported in unrestricted net assets on the university’s statement of financial position.
j. For the most recent year, what was the total investment return on investments reported in all three net asset categories? How much of this amount represented an increase in unrestricted net assets?
k. On the statement of financial position at June 30 of the most recent year, what amount of investments in endowments is reported in the permanently restricted net asset class?