FOR THE YEAR ENDED December 31, 2018
Unrestricted Temporarily Restricted Permanently Restricted Total

Revenues and Other Support
Contributions $6,790 $4,235 $- $11,025
Investment income, net 2,615,798 1,832,405 - 4,448,203
Beneficial Trust Income - 64,813 - 64,813
Net realized and unrealized losses (6,305,683) (6,133,577) - (12,439,260)
Unrealized gain (loss) on interest in perpetual trust - - 30,889 30,889
(3,683,095) (4,232,124) 30,889 (7,884,330)

Net assets released from restrictions

 1,511,754 (1,511,754) - -

Total revenue and other support

 (2,171,341) (5,743,878) 30,889 (7,884,330)

Expenses
Grants and distributions 5,337,764 - - 5,337,764
Administrative and general expenses
Salaries 728,699 - - 728,699
Purchased services 190,767 - - 190,767
Employee benefits 127,224 - - 127,224
Supplies and office expenses 43,825 - - 43,825
Payroll taxes 42,930 - - 42,930
Other expenses 43,586 - - 43,586
Depreciation 1,003 - - 1,003
Total administrative and general expenses 1,178,034 - - 1,178,034

Total expenses

 6,515,798 - - 6,515,798

Change in net assets

 (8,687,139) (5,743,878) 30,889 (14,400,128)

Net assets, beginning of year

 69,765,005 67,950,804 6,188,215 143,904,024

Reclassification of net assets

 (211,516) 211,516 - -

Net assets, end of year

 $60,866,350 $62,418,442 $6,219,104 $129,503,896