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 |
