b'CHANGE IN NET ASSETS CHANGE IN NET ASSETSinmillions $296.2 million$30070% $250$200$150The NMSU Foundations net assets increased to $296.2 million during $100the 2021 fiscal year. $50$02012 2013 2014 2015 2016 2017 2018 2019 2020 2021CONSOLIDATED STATEMENT OF ACTIVITIES (as of June 30, 2021 and 2020)2021 total 2020 totalRevenues, Gains And Other SupportPrivate gifts $ 16,906,918 $ 14,647,989Net investment income 121,240,518 4,332,861Management fees paid by New Mexico State University 831,378 827,435Promotion and other income 1,025,113 679,988Change in value of split interest agreement and gift annuities payable (465,895) (418,232)Net Assets Released From Restriction And Other TransfersChange in donor restrictions (2,353,399) -Net assets released from donor restrictions - -Total revenues, gains and other support 137,184,633 20,070,041Expenses (Note 11):University Support Programs 11,850,826 10,732,948Fundraising 1,731,467 1,734,378Administration 1,784,746 2,620,955Total expenses 15,367,039 15,088,281Change In Net Assets 121,817,594 4 ,981,760Net Assets, beginning of year 174,341,038 169,359,278Net Assets, end of year 296,158,632 174,341,038New Mexico State University Foundation8'