Statement of Activities and Changes in Net Assets (Unaudited)

For the year ended December 31, 2010

 

Unrestricted

Temporarily Restricted Permanently Restricted Total
REVENUES AND OTHER SUPPORT        
Contributions $ 44,657 $ 45,266   $ 89,923
Investment Income, net 1,481,436 759,587 - 2,241,023
Beneficial Trust Income   37,364   37,364
Net realized and unrealized gains 7,894,014 5,700,875 - 13,594,889
Unrealized gain (loss) on interest
in perpetual trust
- - (82,749) (82,749)
  9,420,107 6,543,092 (82,749) 15,880,450
Net assets released from restrictions 2,361,908 (2,361,908) - -
TOTAL REVENUES AND OTHER SUPPORT 11,782,015 4,181,184 (82,749) 15,880,450
EXPENSES        
Grants and distributions 7,847,809 - - 7,847,809
Administrative and general expenses        
Salaries 563,535 - - 563,535
Purchased services 144,121 - - 144,121
Employee benefits 162,040 - - 162,040
Supplies and office expenses 51,372 - - 51,372
Payroll taxes 35,457 - - 35,457
Other expenses 22,336 - - 22,336
Depreciation 543 - - 543
Total administrative and general expenses 979,404 - - 979,404
TOTAL EXPENSES 8,827,213 - - 8,827,213
CHANGE IN NET ASSETS 2,954,802 4,181,184 (82,749) 7,053,237
NET ASSETS, beginning of year 70,521,296 44,818,955 6,139,941 121,480,192
RECLASSIFICATION OF NET ASSETS, 162,989 (43,573) (119,416)  
NET ASSETS, end of year $73,639,087 $48,956,566 $5,937,776 $128,533,429