| Financial Statements |
|
Income & Expenses Fiscal Years Ending June 30, 2007 and 2006 |
| INCOME | 2007 |
2006 |
| Dividend Income & Expense | $304,316 |
$378,360 |
| Interest Income | 301,891 |
223,156 |
| Realized Gains & (Losses) | 3,281,807 | 4,184,208 |
| Other Gains & (Losses) | 101,784 | 188,870 |
|
|
|
Total Income |
$3,989,798 |
$4,974,594 |
| EXPENSES |
|
|
| Grants | $1,928,450 |
$1,880,700 |
| Operating Expenses | 482,347 |
399,130 |
| Investment Management Fees | 230,047 | 200,648 |
| Total Expenses |
$2,640,844 | $2,480,478 |
| x | ||
| NET GAIN (LOSS) | $1,348,954 | $2,494,116 |
Balance Sheet Fiscal Years Ending June 30, 2007 and 2006 |
||
| ASSETS | 2007 |
2006 |
| Current Assets | ||
| Cash & Equivalents | $557,884 | $475,868 |
| Prepaid Income Taxes | 92,810 | 44,800 |
| Total Current Assets |
$650,694 | $520,668 |
| Investments (at market value) | x | x |
| Notes Receivable | $20,000 | $20,000 |
| Investment Accounts | 28,490,092 | 26,842,411 |
| Other Investments | 7,165,230 | 6,275,456 |
| Total Investments |
$35,675,322 |
$33,669,565 |
| Fixed Assets | $8,031 |
$11,000 |
| x | x |
x |
| TOTAL ASSETS | $36,334,047 |
$33,669,565 |
| x | x | x |
| LIABILITIES & FUND BALANCE | x |
x |
| Total Liabilities | $ 0 |
$ 0 |
| x | x | x |
| Fund Balance | x |
x |
| Fund Balance - July 1 | $33,669,565 |
$31,956,785 |
| Net Gain (Loss) From Operations | 1,348,954 |
2,494,116 |
| Market Value Appreciation (Depreciation) | 1,315,528 |
(781,336) |
| Fund Balance - June 30 |
$36,334,047 | $33,669,565 |
| x | x |
x |
| TOTAL LIABILITY & FUND BALANCE | $36,334,047 | $33,669,565 |