b'The Foundation, like many other non-profit Revenues and Support 2020 2019organizations and companies, made mid-year Cash Contributions $2,390,753 $2,944,516economic and budgetary adjustments in response to Pledges ($170,917) $262,392the pandemic last year.Thanks to financial prudence, Rental Income $108,695 $74,500and the support from a record number of donors, the Investments$2,042,109 $1,958,300Foundation was not only able to raise significant Miscellaneous $97,126 $124,921capital, but also deployed it in the form of unique and Total $4,465,766 $5,364,629innovative grants in support of the International Expenses 2020 2019Fraternity, its chapters, and student members. MHQ Maintenance $117,538 $151,985Last year just over $2.2 million was contributed and Management & General $1,095,074 $1,340,982$1.65 million was invested in program services.The Fundraising $97,038 $135,475Foundation awarded $349,552 in student Shield & Diamond Support $30,910 $34,544scholarships, invested $296,031 in Fraternity Scholarships & Grants $1,153,756 $1,305,906programs, and granted $508,173 to qualified chapter Total $2,494,317 $2,968,902housing projects. Change in Net Assets $1,971,449 $2,395,727 Endowment Fund Balance15,000,000The PIKE Foundation had a successful year withnearly $2 million in total gains in its Endowment10,000,000Fund, a 17.5% return, and had a 2020 endingbalance of $14,460,270.The Fund has grown bymore than $10 million (227%) in the last ten years.5,000,000 0Total Net Assets2008 2010 2012 2014 2016 2018 202020,000,000 Net assets also increased by 11% over prior year foran ending balance of $19,895,551.15,000,000 Fundraising expenses ($419,862) were lower thanthe prior two years, primarily due to a reduction of 10,000,000 staff travel and events. Benchmarked against totalannual support provided, the Foundation yet againkept the cost per dollar raised ($0.19) well below the 5,000,000 industry standard of =/ $.35, a milestone achievedfor each of the past 10 years.0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020Functional Expenses Restricted UnrestrictedYear Contributions Total Exp Prgm Exp Prgm % M&G Exp Fund Exp Cost/$ Raised2020 $2,219,836 $2,494,317 $1,659,532 67% $414,923 $419,862 $0.192019 $3,206,908 $2,968,902 $1,978,797 67% $494,523 $495,583 $0.152018 $2,400,558 $3,027,862 $2,137,136 71% $467,365 $423,361 $0.142017 $6,558,356 $4,689,695 $3,793,530 81% $316,071 $580,094 $0.126 2016 $2,389,274 $2,743,892 $2,000,675 73% $293,321 $449,896 $0.19'