Page 38 - RFCUNY Annual Report 2016

Research Foundation of The City University of New York and Related Entities

Notes to Consolidated Financial Statements
Years ended June 30, 2016 and 2015

The following tables present the Foundation’s fair value hierarchy for postretirement assets, which are
measured at fair value on a recurring basis, as of June 30, 2016 and 2015, respectively:

2016
Fair value Level 1 Level 2 Level 3
Debt securities:
Fixed income mutual fund $ 4,491,011 4,491,011 — —
Corporate bonds 36,085,655 — 36,085,655 —
U.S. Government obligations 10,132,129 — 10,132,129 —
Foreign bonds 4,646,732 — 4,646,732 —
Other 466,693 — — 466,693
Total debt securities 55,822,220 4,491,011 50,864,516 466,693
Equity securities:
Equity mutual funds 33,278,982 33,278,982 — —
U.S. common stock 20,299,534 20,299,534 — —
American depositary receipts 7,337,407 7,337,407 — —
Foreign stock 3,786,264 3,786,264 — —
Real estate investment trusts 3,489,911 3,489,911 — —
Total equity securities 68,192,098 68,192,098 — —
Short-term investments 12,085,473 12,085,473 — —
$ 136,099,791 84,768,582 50,864,516 466,693

2015
Fair value Level 1 Level 2 Level 3
Debt securities:
Fixed income mutual fund $ 3,745,428 3,745,428 — —
Corporate bonds 24,875,924 — 24,875,924 —
U.S. Government obligations 11,040,976 — 11,040,976 —
Foreign bonds 3,639,867 — 3,639,867 —
Other 273,401 — — 273,401
Total debt securities 43,575,596 3,745,428 39,556,767 273,401
Equity securities:
Equity mutual funds 35,034,585 35,034,585 — —
U.S. common stock 24,042,551 24,042,551 — —
American depositary receipts 9,774,781 9,774,781 — —
Foreign stock 4,968,007 4,968,007 — —
Real estate investment trusts 2,876,415 2,876,415 — —
Total equity securities 76,696,339 76,696,339 — —
Short-term investments 7,415,633 — 7,415,633 —
$ 127,687,568 80,441,767 46,972,400 273,401

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