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