No t e s t o Co n s o l i d a t e d F i n a n c i a l S t a t eme n t s J u n e 3 0 , 2 0 2 3 a n d 2 0 2 2 11. Net Assets Net assets released from restrictions were satisfied through grant or other operating expenditures, capital expenditures, and scholarships. Net assets at June 30 were available for the following purposes or periods (in thousands): 2023 2022 Without Donor Restrictions Board designated for: Preschool programs $ 751 $ 707 Scholarships 11,966 6,513 Athletic scholarships 7,606 7,070 Trustees student scholarship 1,873 1,706 Faculty research and development 1,937 1,996 College of Law 11,276 10,417 Baudhuin Preschool 4,661 4,441 Health Professions Division 21,168 19,063 Museum of Art 1,118 1,089 Research initiatives 1,249 1,137 Total Board designated 63,605 54,139 Due from HPD Foundation - 4,679 Other unrestricted amounts 234,152 171,112 Physical plant equity 528,382 544,652 Library physical plant equity 80,076 79,870 Total without donor restrictions $ 906,215 $ 854,452 With Donor Restrictions Endowments 120,105 100,513 Endowment-related pledges receivable 41,231 39,235 Gifts restricted by purpose 40,346 38,520 Scholarship funds held by trustees and restricted by purpose 3,610 3,474 HPD Foundation1 - 2,407 Other restrictions 3,886 3,551 Total with donor restrictions $ 209,178 $ 187,700 Total net assets $ 1,115,393 $ 1,042,152 1 The Foundation was dissolved in fiscal 2023 (see Note 13). 34
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