Year Ended March 31, 2012
2012
Unrestricted Temporarily Restricted Permanently Restricted Total 2011 Total
Support and Revenues
Support:
Grants and contributions $  1,606,385 $48,320,071 $       1,186,520 $51,112,976 $38,427,990
Special events (net of direct expenses
of $443,334 for 2012) 981,537 981,537 622,771
Investment income, net 24,582 154,907 179,489 1,657,222
In-kind contributions 208,812 208,812 86,235
Other revenue 34,119 34,119 47,786
Net assets released from restrictions 39,399,299 (39,397,299) (2,000) — —
Total support and revenues 42,254,734 9,077,679 1,184,520 52,516,933 40,841,504
Expenses
Program services:
Scholarship programs 36,209,065 36,209,065 32,834,183
Education and information 3,078,998 3,078,998 3,923,501
Total program services 39,288,063 39,288,063 36,757,684
Support services:
Administration 2,273,872 2,273,872 1,701,332
Fund-raising 774,481 774,481 1,536,899
Total support services 3,048,353 3,048,353 3,238,231
42,336,416 42,336,416 39,995,915
Net Assets
Change in net assets (81,682) 9,077,679 1,184,520 10,180,517 845,589
Net assets, beginning of year (755,265) 18,971,285 11,930,400 30,146,420 29,300,831
Net assets, end of year $  (836,947) $28,048,964 $13,114,920 $40,326,937 $30,146,420