UCLA Alumni Association Not-For-Profit Organization ......The mission of the UCLA Alumni Association (the "Association"), the campus alumni association of the University of California

Report of Independent Auditors and Financial Statements for

UCLA Alumni Association Not-For-Profit Organization

Affiliated With UCLA

June 30, 2015 and 2014

CONTENTS PAGEREPORTOFINDEPENDENTAUDITORS 1–2FINANCIALSTATEMENTS Statementsoffinancialposition 3 Statementsofactivities 4 Statementsofcashflows 5 Notestofinancialstatements 6–13

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REPORTOFINDEPENDENTAUDITORSTheBoardofDirectorsUCLAAlumniAssociation(Not‐for‐ProfitOrganizationAffiliatedwithUCLA)ReportonFinancialStatements

We have audited the accompanying financial statements of UCLA Alumni Association (The“Association”),whichcomprisethestatementsof financialpositionasof June30,2015and2014,andtherelatedstatementsofactivitiesandcashflowsfortheyearsthenended,andtherelatednotestothefinancialstatements.Management’sResponsibilityfortheFinancialStatements

Management is responsible for the preparation and fair presentation of these financial statements inaccordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica;thisincludesthe design, implementation, andmaintenance of internal control relevant to the preparation and fairpresentationoffinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudorerror.Auditor’sResponsibility

Our responsibility is to express an opinion on these financial statements based on our audits. Weconductedouraudits inaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmerica.Thosestandardsrequirethatweplanandperformtheauditstoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreefrommaterialmisstatement.Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresinthe financial statements. The procedures selected depend on the auditor’s judgment, including theassessmentof therisksofmaterialmisstatementof the financialstatements,whetherdue to fraudorerror. Inmakingthoseriskassessments, theauditorconsidersinternalcontrolrelevant to theentity’spreparationand fairpresentationof the financial statements inorder todesignauditprocedures thatare appropriate in the circumstances, but not for the purpose of expressing an opinion on theeffectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonableness ofsignificantaccountingestimatesmadebymanagement,aswellasevaluatingtheoverallpresentationofthefinancialstatements.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinion.

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Opinion

In our opinion, the financial statements referred to above present fairly, in allmaterial respects, thefinancialpositionofUCLAAlumniAssociationasof June30,2015and2014,andthechangein itsnetassetsand its cash flows for theyears thenended inaccordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica.

LosAngeles,CaliforniaNovember10,2015

Seeaccompanyingnotes. 3

UCLAALUMNIASSOCIATIONNOT‐FOR‐PROFITORGANIZATIONAFFILIATEDWITHUCLA

STATEMENTSOFFINANCIALPOSITION

ASSETS 2015 2014CashandCashEquivalents 320,105$ 314,948$InterestandDividendsReceivable 187,018 188,154AccountsReceivableandOtherAssets 573,975 599,361Investments 15,106,228 16,142,653

TotalAssets 16,187,326$ 17,245,116$

LIABILITIESLiabilitytoUCLA 543,367$ 652,841$AccountsPayableandAccruedLiabilities 60,242 88,354GrantPayable,net 58,766 116,322DeferredRevenue 194,808 ‐

TotalLiabilities 857,183 857,517

NETASSETSUnrestrictedNetAssets 15,330,143 16,387,599

TotalLiabilitiesandNetAssets 16,187,326$ 17,245,116$

AsofJune30,

4 Seeaccompanyingnotes.

UCLAALUMNIASSOCIATIONNOT‐FOR‐PROFITORGANIZATIONAFFILIATEDWITHUCLASTATEMENTSOFACTIVITIES

2015 2014OPERATINGREVENUES

Membership 681,902$ 1,025,073$Travel 428,992 406,760BruinWoods 198,768 116,803RoyaltiesandCorporateSponsorship 1,144,718 1,093,393UCLAFoundationSupport ‐ 200,000ProgramIncome 703,411 456,022EndowmentPayout 795,788 835,593In‐KindServiceContributions 3,623,213 ‐TotalOperatingRevenues 7,576,792 4,133,644

OPERATINGEXPENSESProgramExpenses:ProgramSalariesandBenefits 2,240,353 1,546,692Travel 94,934 115,874AlumniRelations 55,999 77,849Outreach&Engagement 771,622 159,356ScholarshipPrograms 61,175 49,379StudentOutreach&Engagement 316,449 357,168ProfessionalandVolunteerDevelopment 10,707 ‐CareerDevelopment 40,459 30,115ProgramServicesRenderedIn‐Kind 2,312,532 ‐

SupportExpenses:Administration 532,694 426,929BoardofDirectors 25,148 93,370CampusMandates ‐ 61,235Membership 205,584 328,258SupportSalariesandBenefits 726,804 891,552Fundraising 12,184 5,617Marketing&Communications 32,816 50,069SupportServicesRenderedIn‐Kind 1,310,681 ‐TotalOperatingExpenses 8,750,141 4,193,463LossfromOperatingActivities (1,173,349) (59,819)

NONOPERATINGREVENUES&EXPENSESInterestIncome 15,359 12,505NetRealizedGainonInvestments 158,869 32,761NetUnrealizedGainonInvestments 4,706 1,178,573StrategicInitiative (63,041) ‐IncomefromNonOperatingActivities 115,893 1,223,839

ChangeinNetAssets (1,057,456) 1,164,020

NetAssets,BeginningofYear 16,387,599 15,223,579

NetAssets,EndofYear 15,330,143$ 16,387,599$

UnrestrictedYearEndedJune30,

Seeaccompanyingnotes. 5


STATEMENTSOFCASHFLOWS

2015 2014CASHFLOWSFROMOPERATINGACTIVITIESChangeinNetAssets (1,057,456)$ 1,164,020$AdjustmentstoreconcilechangeintheNetAssetstonetcash(usedin)providedbyOperatingActivities:NetRealized(Gains)onInvestments (158,869) (32,761)NetUnrealized(Gains)onInvestments (4,706) (1,178,573)DiscountAmortizationofGrantPayable 2,441 3,626

(Increase)Decreasein:InterestandDividendsReceivable 1,136 10,660AccountsReceivableandOtherAssets 25,389 (228,805)

Increase(Decrease)in:LiabilitytoUCLA (109,474) 177,296GrantPayable (60,000) (60,000)AccountsPayableandAccruedLiabilities (28,112) 57,567DeferredRevenue 194,808 (146,200)NetCashusedinOperatingActivities (1,194,843) (233,170)

CASHFLOWSFROMINVESTINGACTIVITIESProceedsfromsalesofInvestments 1,200,000 265,000

NetIncreaseinCashandCashEquivalents 5,157 31,830

CashandCashEquivalents,Beginningofyear 314,948 283,118

CashandCashEquivalents,Endofyear 320,105$ 314,948$

YearEndedJune30,

UCLAALUMNIASSOCIATIONNOT‐FOR‐PROFITORGANIZATIONAFFILIATEDWITHUCLANOTESTOFINANCIALSTATEMENTS

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Note1–NatureofOrganizationThemissionoftheUCLAAlumniAssociation(the"Association"),thecampusalumniassociationoftheUniversityofCaliforniaatLosAngeles("UCLA"),istoenrichthelivesofalumniandinvolvetheminthefuture of UCLA. The Association, established in 1934, is a separately incorporated, tax‐exemptmembershiporganizationthatprovidesservicesandbenefitstomembers.TheAssociation'sactivities,whichinvolvealumniandstudentvolunteers,includeprovidingprofessionalnetworkingopportunitiesandcareerassistance,awardingscholarships tonewandcontinuingUCLAstudents, informingalumniandfriendsoflegislativeissuesinCaliforniathatdirectlyimpactUCLAandtheUniversityofCaliforniaandengagingUCLAstudents throughaStudentAlumniAssociation.TheAssociation'sAlumniAwardsprogram recognizes distinguished members of the UCLA community. The Association also supportsapproximatelyseventy(70)UCLAalumnigroups,regionalclubsandprofessionalschoolorganizationsthatpromotethegeneralwelfareofUCLA.Note2–BasisofPresentationThe Association and certain other support groups of UCLA are closely connected operationally andfinancially. As such, the Association is required to adhere to rules and guidelines contained in theUniversity of CaliforniaPolicyonSupportGroups, CampusFoundations andAlumniAssociations. Forexample,theAssociationoccupiesafacilityontheUCLAcampus.TheemployeesoftheAssociationareemployees ofUCLAbut their salaries are chargedback to theAssociationbyUCLA, andUCLAmakespaymentofcertainexpensesonbehalfoftheAssociation,whicharereimbursedbytheAssociationonaquarterlybasis.ThesefinancialstatementsincludeonlythosetransactionseitherincurreddirectlybyorchargedbyUCLAtotheAssociation.UCLAandtheAssociationarebothengagedinalumnirelations.TheeffortsmadebytheAssociationtoUCLAalumnirelationsarenotchargeddirectlytoUCLA.Inturn,inpursuitofitscomprehensiveefforttoservethealumniofUCLA,UCLAandothersupportgroupsprovidetheuseofpersonnel, facilitiesandassets to the Association and do not charge for said services. Furthermore, in their effort tomanagealumni relations, certain key officials of UCLA have ex‐officio positions on the Association's Board ofDirectors.On behalf of UCLA, the Association administers $24,160,963 held at the UCLA Foundation, mostlyfundedbyprivatephilanthropy. In thateffort, theAssociationmade806awardsto681studentswithscholarshipsprovidingapproximately$1,516,000inscholarshipsandgrantsduringtheyearendedJune30,2015.ThescholarshipsarefundedthroughtheUCLAFoundationtoUCLAstudentsand,assuch,arenotreflectedontheAssociation'sfinancialstatements.


NOTESTOFINANCIALSTATEMENTS

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Note3–SummaryofSignificantAccountingPoliciesFinancialstatementpresentation–Theaccompanying financial statementsarepresentedusing theaccrualbasisof accounting inaccordancewithaccountingprinciplesgenerallyaccepted in theUnitedStatesofAmerica(GAAP).Cashandcashequivalents–Cashequivalentsconsistofshort‐term,highlyliquidinvestmentsthatarereadilyconvertibleintocashandwerepurchasedwithmaturitiesoflessthanthreemonths.Accountsreceivableandotherassets–Accounts receivableandotherassetsconsistsofdeposits,aswellasvariousreceivablesfromthirdpartiesandrelatedparties.TheAssociationperformsanannualassessment of the collectability of its accounts receivable and has determined that an allowance foruncollectibleaccountsisunnecessaryastheriskofsignificantuncollectibleaccountsislow.Investments–Inordertomaximizeinvestmentincome,theAssociation'sinvestmentsarepooledwithother investments of UCLA‐affiliated entities and are held in trust under The UCLA Foundation. TheAssociation'sinterestisdeterminedthroughaunitizationprocessbasedonthefairvalueoftheassetsplaced in thepool by eachparticipant. Investment income andnet realized andunrealized gains andlossesareallocatedequitablybasedonthenumberofunitsassignedtoeachparticipant.Deferred revenue – Advances received under long‐term contractual agreements are recognized asearnedbasedonthetermsoftheagreement.Membership revenues – Membership revenues, which include annual and life memberships, arerecordedasrevenuewhenreceived.Operatingrevenues–Operatingrevenues,whichincludeTravel,BruinWoods,RoyaltiesandCorporateSponsorshipsrevenuesarereceivedfromcontractualbusinessagreementswiththirdparties,aswellasProgram Income for programs and events that the Association hosts are recorded as revenue whenearned.Endowment payout – The Association will receive quarterly payments from the UCLA FoundationwhichrepresentstheAssociation’sshareofdividendsandinterestresultingfromthebeneficialinterestin theFoundation’s long term investmentportfolio.Endowment income is recordedas revenuewhenearned.Interest income – TheAssociation earns interest on its short term investments heldwith theUCLAFoundation.Interestincomereceivedisretainedwithintheshortterminvestmentpoolandisrecordedasrevenuewhenearned.


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Note3–SummaryofSignificantAccountingPolicies(continued)In‐kindservices–Inthecurrent fiscalyeartheAssociationadoptedASU2013‐06,ServicesReceivedfromPersonnel of anAffiliate. The guidance requires a not‐for‐profit entity to recognize the value ofservices provided by an affiliate not‐for‐profit's personnel. The Association recognizes in‐kindcontributionsbasedon the fair value of the services received. Such contributions totaling $3,623,213were recorded for services received for the year ended June 30, 2015. The fair values of the in‐kindtransactionswerederived from the costof the servicesprovidedandwere recordedasprogramandsupportexpensesfortheyearendedJune30,2015.FortheyearendedJune30,2015,in‐kindprogramand support services rendered amounted to $2,312,532 and $1,310,681, respectively. Included inprogramandsupportservicesrenderedarenon‐personnelprogramandsupportexpensesof$509,703and$343,954,respectively.Reclassifications–CertainexpenseclassificationsbetweenfunctionalcategorieshavebeenchangedfortheyearendedJune30,2015.ThesereclassificationshavehadnoneteffectontheendingbalanceofnetassetsasofJune30,2015.Functionalallocationofexpenses –TheAssociationwill classifyexpendituresas eitherprogramorsupport expenses based on the nature of the expense. Allocation of expenses between functionalcategories,suchassalaryandbenefitexpenses,isdeterminedbymanagementandisbasedonthelevelofeffortbyemployeesattributabletoeitherprogramorsupportactivities.Concentrationsofcreditandmarketrisk–Cashandcashequivalentsgenerallyconsistofcashandmoneymarketfunds.Thesefundsareprimarilyheldinthreefinancialinstitutions,areuninsuredexceptfortheminimumFederalDepositInsuranceCorporation("FDIC")coverageandhaveoriginalmaturitydates of three months or less. The FDIC is providing unlimited insurance coverage on non‐interest‐bearingaccounts,andfundsheld in interest‐bearingtransactionaccountsare insuredupto$250,000.TheAssociationbelievesitscreditpoliciesdonotresultinsignificantadverseriskandhistoricallyhasnot experienced any credit‐related losses. As of June 30, 2015 and 2014, no bank balances wereuninsured. The Association does not believe there to be a significant credit risk associated with itsaccountsreceivableastherearenosignificantbalancesduefromasinglesource.The Association holds significant investments in the form of long‐term investment pools held by theUCLA Foundation, a related party. These investments are professionally managed. Credit risk is thefailureofanotherpartytoperforminaccordancewiththecontractterms.TheAssociationisexposedtocredit risk for the amount of the investments. The Association has never sustained a loss on anyinvestmentdue tonon‐performanceanddoesnotanticipateanynon‐performanceby theusersof thesecurities.Asinvestmentsaccountedfor93%and94%oftheAssociation'sassetsatJune30,2015and2014,respectively,theAssociationisexposedtosignificantmarketrisk,whichistheriskofchangesinvalueofafinancialinstrumentcausedbyfluctuationsininterestrates,foreignexchangeratesandequityprices.



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Note3–SummaryofSignificantAccountingPolicies(continued)Income taxes–TheAssociation isa tax‐exemptorganizationunderSection501(c)(3)of the InternalRevenue Code and Section 23701(d) of the Revenue and Taxation Code of the State of California.However,certainactivitiesoftheAssociationaresubjecttounrelatedbusinessincometaxes.The Association appropriately provides the details of such activities in its annual tax return. TheAssociation recognizes the impact of tax positions in the financial statements if that position ismorelikely than not to be sustained on audit, based on the technical merits of the position. To date, theAssociationhasnotrecordedanyuncertaintaxpositions.TheAssociationrecognizespotentialaccruedinterestandpenaltiesrelatedtouncertaintaxpositionsinincometaxexpense.FortheyearsendedJune30, 2015 and 2014, theAssociation did not recognize any amount in potential interest and penaltiesassociatedwithuncertaintaxpositions.At June30,2015, theopentaxyears for theAssociationwere2011to2015.Useofestimates – Thepreparation of financial statements in conformitywith accountingprinciplesgenerally accepted in the United States of America requires management to make estimates andassumptionsthataffectthereportedamountsofassetsandliabilitiesanddisclosureofcontingentassetsandliabilitiesatthedateofthefinancialstatementsandthereportedamountsofrevenuesandexpensesforthereportingperiod.Actualresultscoulddifferfromthoseestimates.Fairvaluemeasurements–Fairvalueisdefinedasthepricethatwouldbereceivedtosellanassetortransfer a liability in an orderly transaction between market participants at the measurement date.AccountingStandardsCodification(ASC)820alsoestablishesafairvaluehierarchywhichrequiresanentity tomaximize the use of observable inputs andminimize the use of unobservable inputswhenmeasuring fair value.The standarddescribes three levels of inputs thatmaybeused tomeasure fairvalue:

Level1 Quotedpricesinactivemarketsforidenticalassetsorliabilities.

Level2 Observable inputsother thanLevel1prices, suchasquotedprices for similarassetsorliabilities;quotedpricesinmarketsthatarenotactive;orotherinputsthat are observable or can be corroborated by observable market data forsubstantiallythefulltermoftheassetsorliabilities.

Level3 Unobservableinputsthataresupportedbylittleornomarketactivityandthat

aresignificanttothefairvalueoftheassetsorliabilities.In certain cases, the inputs used tomeasure fair valuemay fall into different levels of the fair valuehierarchy. In such cases, the determination of which category within the fair value hierarchy isappropriateforanygiveninstrumentisbasedonthelowestlevelofinputthatissignificanttothefairvaluemeasurement. The Association's assessment of the significance of a particular input to the fairvaluemeasurementinitsentiretyrequiresjudgmentandconsidersfactorsspecifictotheinstrument.


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Note4–FairValueMeasurementAtJune30,2015and2014,theAssociation'sfinancialinstrumentsconsistedprimarilyofcashandcashequivalents, accounts receivable, prepaid expenses and other assets, liabilities to the University ofCalifornia,LosAngeles,accountspayable,accruedexpensesandotherliabilities,whichareallstatedatcarryingvalue,whichapproximatesfairvalueduetotheshortmaturityoftheseinstruments.TheAlumniAssociationinvestsitsfundswiththeUCLAFoundationinordertomaximizethereturnonits investments. The Association has beneficial interests in both the UCLA Foundation's EndowedInvestmentPoolanditsUnendowedInvestmentPool.TheEndowed InvestmentPool has a long‐term investment horizon and consists principally of equitysecurities, bonds, mutual funds and alternative investments, which are managed in a unitizedinvestmentpool.Thealternative instruments includehedge funds,privateequityandventurecapital.Quarterlyinvestmentincome,includingrealizedandunrealizedgainsandlosses,areallocatedequitablybasedon theunitsownedbyeachparticipantat thebeginningofeachquarter.The fairvaluesof theinvestmentsinthiscategoryhavebeenestimatedusingthenetassetvaluepershareoftheinvestments.At eachquarter‐end, a fair valueunit price is establishedbasedon the valueof endowedpool assetsdivided by the total number of pool units at the beginning of the quarter. Investors who wish topurchaseunitsorsellexistingunitscanonlydosoatquarter‐endattheaforementionedfairvalueprice.ThebeneficialinterestintheUCLAFoundationEndowedInvestmentPoolisconsideredLevel3duetounobservable inputs.Thevaluationof theAssociation’sshare in theUCLAFoundation’sportfoliousesunobservable inputs that are supported by little or nomarket activity and are significant to the fairvalue measurement of the interest. Management established the fair value of Level 3 investmentsthroughmonitoringoffundactivitiesforthebeneficialinterestinassetsheldbytheUCLAFoundation.TheAlumniAssociationinvestments inthepoolarenotendowedandtherearenorestrictionsontheredemptionsofthisinterestasofJune30,2015,exceptforapprovalbytheBoardofDirectors.TheUnendowed InvestmentPoolhasashort‐term investmenthorizonandconsistsof investments intheUCRegentsShort‐termInvestmentPool.Theseinvestmentsareconsideredtobecashequivalents.Thefairvaluesoftheseinvestmentshavebeenestimatedusinganetassetvalueof$1pershare.TheseinvestmentsaredeemedtobeLevel2duetosimilaritemsinactivemarkets.TherearenorestrictionsontheredemptionsofthisinterestasofJune30,2015andareincludedincashandcashequivalentsontheStatementofFinancialPosition.



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Note4–FairValueMeasurement(continued)TheAssociation'sinvestmentswereclassifiedbylevelwithinthevaluationhierarchyasofJune30,2015and2014asfollows:

Level1 Level2 Level3 2015BeneficialInterest ‐$ ‐$ 15,106,228$ 15,106,228$Short‐termInvestments ‐ 271,371 ‐ 271,371

Total ‐$ 271,371$ 15,106,228$ 15,377,599$

Level1 Level2 Level3 2014BeneficialInterest ‐$ ‐$ 16,142,653$ 16,142,653$Short‐termInvestments ‐ 257,274 ‐ 257,274

Total ‐$ 203,223$ 15,196,319$ 16,399,927$

2015

2014

ThefollowingtablesincludereconciliationsofbeginningandendingbalancesofassetsclassifiedasLevel3fortheyearsendedJune30,2015and2014:

FairValueat Realized Unrealized FairValueatJuly1,2014 Purchases Sales Gains,net Gains,net June30,2015

BeneficialInterest 16,142,653$ ‐$ (1,200,000)$ 158,869$ 4,706$ 15,106,228$

FairValueat Realized Unrealized FairValueatJuly1,2013 Purchases Sales Gains,net Gains,net June30,2014

BeneficialInterest 15,196,319$ ‐$ (265,000)$ 32,761$ 1,178,573$ 16,142,653$

TheAssociation'spolicyistorecognizetransfersinandtransfersoutattheendofthereportingperiod.ThispolicyincludestransfersinandtransfersoutofLevel1,Level2andLevel3.TheAssociation's financial assets that are valuedusing the fair valuepractical expedient of net assetvalueandaresummarizedasfollows:

FairValueat Unfunded Redemption Redemption OtherJune30,2015 Commitments Frequency NoticePeriod Restrictions

BeneficialInterest 15,106,228$ ‐$ Quarterly 1‐90Days (1)

(1) Redemption of interest held in the UCLA Foundation endowment fund requires approval by theBoardofDirectors.


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Note4–FairValueMeasurement(continued)Securities classified within Level 3 investments are based on valuations provided by the externalmanagers (UCLA Investment Company). The Chief Financial Officer and Finance Committee, inconjunction with the external investment advisor, monitors and analyzes the valuation of theinvestments. The Finance Committee reports to the Board of Directors. The valuations considervariablessuchasthefinancialperformanceoftheinvestmentsalongwithotherpertinentinformation.Note5–GrantPayableDuringtheyearsendedJune30,2015and2014,theAssociationmadetheninthandeighthinstallmentsof $60,000, respectively, on an irrevocable pledge in the amount of $600,000 to the Regents ofUniversityofCaliforniaonbehalfofUCLAtosupportconstructionoftheUCLADonorWallintheCourtof Philanthropy. The irrevocable pledge is to be paid over a ten‐year period discounted at 2.1%, inannual installments of $60,000,with the first paymentmade in June 2007. The present value of thefuturepaymentsat theapplieddiscount rateat June30,2015and2014were$58,766and$116,323,respectively.Note6–NetAssetsTheAssociationclassifiesitsnetassetsasbeingunrestrictedastherearenopurposeortimerestrictionsassociatedwiththeuseofthefunds.Note7–RelatedPartyTransactionsandContributedServicesThe Association routinely transacts with UCLA, which generally includes expense chargebacks forexpenses paid by UCLA on behalf of the Association. As further described in Note 2, transactionsthroughout the year of $5,132,998 and $4,199,081 resulted in a payable to UCLA of $543,367 and$652,841atJune30,2015and2014,respectively.The Association recognized $198,768 and $116,803 of revenue from BruinWoods during the yearsended June30,2015and2014,respectively. Inaddition, theAssociationmaintainsacashaccount forthebenefitoftheguestsofBruinWoods,whichamountedto$39,143and$31,246atJune30,2015and2014,respectively.TheseamountsareincludedinCashandCashEquivalentsandAccountsPayableandAccruedLiabilities.



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Note8–SubsequentEventsSubsequenteventsareeventsor transactions thatoccurafter thestatementof financialpositiondatebutbefore financial statements are available tobe issued.TheAssociation recognizes in the financialstatements theeffectsofall subsequentevents thatprovideadditionalevidenceaboutconditions thatexistedatthedateofthestatementoffinancialposition,includingtheestimatesinherentintheprocessof preparing the financial statements. The Association’s financial statements do not recognizesubsequenteventsthatprovideevidenceaboutconditionsthatdidnotexistatthedateofthestatementof financial position but arose after the statement of financial position date and before financialstatements are available to be issued. The Association has evaluated subsequent events throughNovember10,2015,whichisdatethefinancialstatementswereavailabletobeissued.

Documents

UCLA Alumni Association Not-For-Profit Organization ......The mission of the UCLA Alumni Association (the "Association"), the campus alumni association of the University of California