REPORT DIGEST

NORTHERN ILLINOIS UNIVERSITY
FOUNDATION

COMPLIANCE EXAMINATION

For the Two Years Ended:

June 30, 2006

Summary of Findings

Total this audit                          0

Total last audit                          0

Repeated from last audit           0

Release Date:

 March 8, 2007

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

http://www.state.il.us/auditor

FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

            There were no material findings of noncompliance       disclosed during our compliance examination.  We commend the Foundation for maintaining an effective system of internal controls.             

AUDITORS’ OPINION

            Our financial statement audit for the year ended June 30, 2006 was previously issued.  Our auditors stated the Foundation’s June 30, 2006 financial statements are fairly presented in all material respects.

                  ______________________________________

                    WILLIAM G. HOLLAND, Auditor General

       WGH:TLK:PP

SPECIAL ASSISTANT AUDITORS

 Clifton Gunderson, LLP were our special assistant auditors on this audit.

{Expenditures and Activity Measures are summarized on the reverse page.}

FINANCIAL OPERATIONS (ALL FUNDS)

FY 2006

FY 2005

REVENUES (Operating and Nonoperating)

Gifts.....................................................................

Investment Income...............................................

Royalties..............................................................

Income from Northern Illinois University service contract     

Support from NIU Alumni Association for Barsema Alumni and Visitors Center...................................

Special events, merchandise sales, and miscellaneous income.................................................................

      Total Revenues..............................................

$13,919,238

3,565,157

2,146

523,074

0

393,309

$18,402,924

$15,598,414

3,324,967

5,892

531,719

400,000

790,779

$20,651,771

FOUNDATION PRESIDENT

During Audit Period:  Mallory M. Simpson

Currently:  Mallory M. Simpson