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 2 a n d 2 0 2 1 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): 2022 2021 Without Donor Restrictions Board designated for: Preschool programs $ 707 $ 873 Scholarships 6,513 7,782 Athletic scholarships 7,070 8,614 Trustees student scholarship 1,706 1,913 Faculty research and development 1,996 2,244 College of Law 10,417 12,656 Baudhuin Preschool 4,441 5,527 Health Professions Division 19,063 23,564 Museum of Art 1,089 1,766 Research initiatives 1,137 1,371 Total Board designated 54,139 66,310 Due from HPD Foundation 4,679 4,349 Other unrestricted amounts 171,112 171,202 Physical plant equity 544,652 513,568 Library physical plant equity 79,870 82,414 Total without donor restrictions $ 854,452 $ 837,843 With Donor Restrictions Endowments 100,513 114,370 Endowment-related pledges receivable 39,235 37,751 Gifts restricted by purpose 38,520 52,098 Scholarship funds held by trustees and restricted by purpose 3,474 4,218 HPD Foundation1 2,407 4,493 Other restrictions 3,551 3,313 Total with donor restrictions $ 187,700 $ 216,243 Total net assets $ 1,042,152 $ 1,054,086 1 The Foundation’s net assets (see Note 13) include endowment investments of $6.9 million and $8.6 million as of June 30, 2022 and 2021, respectively, as well as other amounts due from or to NSU primarily for its unrestricted outlays on behalf of the Foundation. 34
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