REPORT DIGEST

IMSA FUND FOR ADVANCEMENT OF EDUCATION

FINANCIAL AUDIT AND COMPLIANCE EXAMINATION
For the Two Years Ended: June 30, 2013


Release Date:   January 23, 2014

Summary of Findings:
Total this audit: 0
Total last audit:  1
Repeated from last audit: 0

State of Illinois, Office of the Auditor General
WILLIAM G. HOLLAND, AUDITOR GENERAL

To obtain a copy of the Report contact:
Office of the Auditor General, Iles Park Plaza,
740 E. Ash Street, Springfield, IL 62703
(217) 	782-6046 or TTY (888) 261-2887

This Report Digest and Full Report are also
available on the worldwide web at
www.auditor.illinois.gov

INTRODUCTION

The IMSA Fund for Advancement of Education
(Fund) was incorporated February 6, 1986 as an
Illinois not-for-profit corporation.  The Fund
serves as the primary source of private funding
for the Illinois Mathematics and Science Academy
(Academy).

The primary functions of the Fund are to raise
funds from the private sector, oversee the
management and distribution of the Fund’s assets
and enrich the Academy’s education programs.
Private sector contributions also provide
resources to enhance the Academy’s continuing
development as an educational laboratory for
schools and teachers throughout the State.

AUDITORS’ OPINION

Our auditors state the June 30, 2013 financial
statements of the IMSA Fund for Advancement of
Education are presented fairly in all material
respects.

WILLIAM G. HOLLAND
Auditor General

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SPECIAL ASSISTANT AUDITORS

Borschnack, Pelletier & Co. were our Special
Assistant Auditors for this engagement.