Statement of Financial Position (Unaudited) Statement of Activities and Changes in Net Assets (Unaudited)

For the year Ended December 31, 2014

Unrestricted Temporarily
Restricted
Permanently
Restricted
Total

REVENUES AND OTHER SUPPORT

Contributions $13,083 $33,383 $10 $46,476
Investment income, net 2,036,107 1,238,117 - 3,274,224
   Beneficial Trust Income 62,142 62,142
Net realized and unrealized gains 2,253,758 1,838,325 - 4,092,083
Unrealized gain (loss) on interest in perpetual trust - - 146,953 146,953




4,302,948 3,171,967 146,963 7,621,878




Net assets released from restrictions 2,492,630 (2,492,630) - -




TOTAL REVENUES AND OTHER SUPPORT

6,795,578 679,337 146,963 7,621,878




EXPENSES

Grants and distributions 15,542,739 - - 15,542,739

Administrative and general expenses
   Salaries 727,631 - - 727,631
   Purchased services 148,378 - - 148,378
   Employee benefits 121,081 - - 121,081
   Supplies and office expenses 56,588 - - 56,588
   Payroll taxes 46,030 - - 46,030
   Other expenses 32,305 - - 32,305
   Depreciation 1,733 - - 1,733








Total administrative and general expenses 1,133,746 - - 1,133,746




TOTAL EXPENSES

16,676,485 - - 16,676,485




CHANGE IN NET ASSETS

(9,880,907) 679,337 146,963 (9,054,607)




NET ASSETS, beginning of year

81,210,306 59,693,442 6,114,640 147,018,388




RECLASSIFICATION OF NET ASSETS,

(113,882) 113,882




NET ASSETS, end of year

$71,215,517 $60,486,661 $6,261,603 $137,963,781