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18 <br /> THE BOTANICAL GARDEN FOUNDATION, INC. <br /> NOTES TO FINANCIAL STATEMENTS <br /> Page 12 of 13 <br /> ENDOWMENTS(CONTINUED) <br /> The changes in donor-restricted endowment net assets for the year ended June 30, 2010, were <br /> as follows: <br /> Temporarily Permanently <br /> Unrestricted restricted Restricted Totals <br /> Endowment net assets, <br /> July 1,2009 $ (29,409) $ 447,321 $ 1,319,338 $ 1,737,250 <br /> Investment return: <br /> Income - 60,556 - 60,556 <br /> Net(depreciation) <br /> appreciation (19,997) 57,065 - 37,068 <br /> Total investment return (19,997) 117,621 - 97,624 <br /> Contributions - - 70,771 70,771 <br /> Appropriation of endowment <br /> assets for expenditure - (128,685) - (128,685) <br /> Reclassification of gifts - (4,128) 4,128 - <br /> Endowment net assets, <br /> June 30, 2010 $ (49,406) $ 432,129 $ 1,394,237 $ 1,776,960 <br /> DONATED MATERIALS AND SERVICES <br /> The Foundation recognizes donated services that create or enhance nonfinancial assets or that <br /> require specialized skills, are provided by individuals possessing those skills, and would <br /> typically need to be purchased if not provided by donation. No material donated services <br /> meeting these requirements for recognition in the financial statements were received during <br /> the years ended June 30, 2011 and 2010. A significant amount of services not meeting the <br /> requirements for recognition in the financial statements have been contributed by others <br /> towards administrative and program development and implementation. <br />