Financial Statements

Income & Expenses

Fiscal Years Ending June 30, 2008, 2007 and 2006

INCOME
2008

2007

2006
Dividend Income & Expense
$353,222

$304,316
$378,360
Interest Income
178,476

301,891
223,156
Realized Gains & (Losses)
3,619,643
3,281,807
4,184,208
Other Gains & (Losses)
(136,293)
101,784
188,870

 

 

Total Income
$4,140,048

$3,989,798
$4,974,594
EXPENSES

 

 
Grants
$2,344,728

$1,938,450
$1,880,700
Operating Expenses
$510,603

482,347
399,130
Investment Management Fees
215,295
230,047
200,648

Total Expenses
$3,070,626
$2,640,844
$2,480,478
x
NET GAIN (LOSS)
$1,069,422
$1,348,954
$2,494,116
 

 

Balance Sheet

Fiscal Years Ending June 30, 2007 and 2006
ASSETS
2008

2007

2006
Current Assets      
   Cash & Equivalents
$222,300
 $557,884

$475,868
   Prepaid Income Taxes
72,000
 92,810

44,800

Total Current Assets

$294,300
 $650,694

$520,668
Investments (at market value)
x x
   Notes Receivable
$20,000
 $20,000

$20,000
   Investment Accounts
27,847,279
 28,490,092

26,842,411
   Other Investments
5,985,917
 7,165,230

6,275,456

Total Investments

$33,853,196

$35,675,322

$33,669,565
Fixed Assets
$10,246

$8,031

$11,000
x

x

x
TOTAL ASSETS
$34,157,742

$36,334,047

$33,669,565
x
x x
LIABILITIES & FUND BALANCE

x

x
Total Liabilities
$0

$ 0

$ 0

x
x x
Fund Balance

x

x
   Fund Balance - July 1
$36,334,047

$33,669,565

$31,956,785
   Net Gain (Loss) From Operations
1,069,422

1,348,954

2,494,116
   Market Value Appreciation (Depreciation)
(3,245,727)

1,315,528

(781,336)

   Fund Balance - June 30

$34,157,742
 $36,334,047

$33,669,565
x

x

x
TOTAL LIABILITY & FUND BALANCE
$34,157,742
 $36,334,047

$33,669,565