Summary: Colorado School of Mines Foundation; Non-Profit Organizations

S&P Global Ratings affirmed its 'A' issuer credit rating (ICR) on the Colorado School of Mines Foundation (CSM Foundation). The outlook is stable. The ICR reflects our view of the CSM Foundation's: Role as a supporting foundation that holds and invests the CSM endowment; Operating agreement that defines the terms of the relationship between the foundation and the school, its sole beneficiary; Minimal existing debt and no near-term debt plans; Successful completion of a large comprehensive capital campaign; and Strong expendable resources equal to 431% of expenses as of June 30, 2017. The CSM Foundation, incorporated in 1951, receives and manages contributions for the sole benefit of the CSM. The foundation also invests a small endowment amount for the CSM.

...S&P Global Ratings affirmed its 'A' issuer credit rating (ICR) on the Colorado School of Mines Foundation (CSM Foundation). The outlook is stable. The ICR reflects our view of the CSM Foundation's: + Role as a supporting foundation that holds and invests the CSM endowment; + Operating agreement that defines the terms of the relationship between the foundation and the school, its sole beneficiary; + Minimal existing debt and no near-term debt plans; + Successful completion of a large comprehensive capital campaign; and + Strong expendable resources equal to 431% of expenses as of June 30, 2017. The CSM Foundation, incorporated in 1951, receives and manages contributions for the sole benefit of the CSM. The foundation also invests a small endowment amount for the CSM. As of June 30, 2017, the foundation held $313 million in total net assets. Cash and investments totaled $302.7 million at fiscal year-end; the balance consists of other assets, such as charitable remainder trusts and contribution...

Summary