|
|
 |
|
 |
| ASSETS |
|
|
|
| Cash and Cash Equivalents |
|
$ |
5,102,243 |
Investments at Cost
|
|
$ |
38,573,038 |
| Leasehold Deposit |
|
$ |
3,597 |
| |
|
|
|
TOTAL ASSETS
|
|
$ |
43,678,878 |
| |
|
|
|
UNRESTRICTED NET ASSETS
|
|
$ |
43,678,878 |
| |
|
|
|
FAIR MARKET VALUE OF ASSETS
|
|
$ |
50,581,626 |
REVENUES
|
|
$ |
2,468,428 |
| |
|
|
|
EXPENDITURES
|
|
|
|
Grants Paid
|
$ 3,683,311 |
|
|
Other Program Expenses
|
$ 316,407 |
|
|
Administrative Expenses
|
$ 203,260 |
|
|
Total Grants, Program and Administrative
|
|
$ |
4,202,978 |
Investment Management Expenses
|
|
$ |
154,787 |
| Excise Tax |
|
$ |
77,843 |
| |
|
|
|
| TOTAL EXPENDITURES |
|
$ |
4,435,608 |
| |
|
|
|
| EXCESS OF EXPENDITURES MADE OVER REVENUE COLLECTED |
$ |
(1,967,180) |
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