Summary of Financial Activities for the Year Ended
December 31, 2010
|
|
| |
|
|
|
| |
| Unrestricted net assets |
|
|
| Unrestricted revenues and gains |
|
|
| |
Bequest |
|
|
$ |
20,000,000 |
|
Interest |
|
|
|
109,860 |
|
Dividends |
|
|
|
818,266 |
|
Realized and unrealized gain on investments |
|
8,237,974 |
|
|
|
|
|
|
|
Total unrestricted revenues and gains |
|
|
$ |
29,166,100
|
|
|
|
|
|
|
| Expenses |
|
|
|
|
|
Grants |
|
|
|
2,289,589
|
|
Investment fees |
|
|
|
359,710 |
|
General and administrative |
|
|
818,085 |
|
|
|
|
|
|
|
Total expenses |
|
|
|
3,467,384 |
|
|
|
|
|
|
| Increase in unrestricted net assets |
|
|
25,698,716
|
|
|
|
|
|
|
| Unrestricted net assets, beginning of year |
|
69,425,260 |
|
|
|
|
|
|
| Unrestricted net assets, end of year |
|
$ |
95,123,976
|
|
|
| |
Statement of Assets at December 31, 2010 |
|
| Assets |
|
|
|
|
|
Cash and cash equivalents |
|
$ |
3,702,333 |
|
Investments, at fair value |
|
|
|
91,494,614 |
|
Other |
|
|
|
26,536
|
|
|
|
|
|
|
| Total assets |
|
|
$ |
95,223,483 |
|
|
|
|
|
|
| Liabilities and net assets |
|
|
|
|
|
|
|
| Liabilities |
|
|
|
| |
Accrued expenses |
|
|
$ |
84,507 |
|
Grant payable |
|
|
|
15,000 |
|
|
|
|
|
|
| Total Liabilities |
|
|
|
99,507 |
|
|
|
|
|
| Net Assets |
|
|
|
|
|
Unrestricted |
|
|
|
95,123,976 |
|
|
|
|
|
|
| Total Liabilities and Net Assets |
|
$ |
95,223,483 |
|
| |
|
|
|
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