TABLE 5-4

REVENUE AND SUPPORT	JUNE 30, 1999	JUNE 30, 1998	JUNE 30, 1997
Contributions	$4,576,905	$3,018,815	$2,719,612
Investment Revenue	4,163,483	4,955,202	4,413,156
Other Revenue	37,717	54,259	292,322
TOTAL REVENUE AND SUPPORT	8,778,105	8,028,276	7,425,090
EXPENSES	X	X	X
Educational and General Programs	$1,832,251	$1,834,862	$1,612,655
JMU Support Groups	83,150	77,940	52,792
Intercollegiate Athletics	515,919	497,132	617,428
Foundation Management	357,542	320,679	290,214
Fund Raising	140,801	262,711	164,853
TOTAL EXPENSES	2,929,663	2,993,324	2,737,942
CHANGE IN NET ASSETS	5,848,442	5,034,952	4,687,148
NET ASSETS - BEGINNING	29,142,711	24,107,759	19,420,611
NET ASSETS - JUNE 30	34,991,153	29,142,711	24,107,759

RESOURCE UTILIZATION
TOTAL EXPENSES	UN- RESTRICTED	RESTRICTED	INTER- COLLEGIATE ATHLETICS	TOTAL 1998-99	TOTAL 1997-98	TOTAL 1996-97
Instruction	$42,389	$310,687	-	$353,076	$235,283	$293,777
Research	-	77,644	-	77,644	12,548	26,772
Public Service	15,073	54,894	-	69,967	102,973	198,221
Academic Support	43,926	220,959	-	264,885	134,249	134,898
Student Support	400	60,607	-	61,007	80,189	61,948
Institutional Support	181,674	21,292	-	202,966	611,799	298,867
Plant Operation, Maintenance	1,076	149	-	1,225	16,936	44,937
Scholarships, Fellowships	121,198	473,075	$207,208	801,481	640,885	553,235
JMU Support Groups	83,000	150	-	83,150	77,940	52,792
Intercollegiate Athletics	-	-	515,919	515,919	497,132	617,428
Foundation Management	357,542	-	-	357,542	320,679	290,214
Fund Raising	103,623	16,317	20,861	140,801	262,711	164,853
TOTAL EXPENSES	949,901	1,235,774	743,988	2,929,663	2,993,324	2,737,942

SOURCE: James Madison University Foundation, Inc., Annual Report 1998-99.