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