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Financial Statements
STATEMENTS OF ACTIVITIES FOR THE YEARS ENDED DECEMBER 31, 2006 AND 2005
|
2006 |
2005 | |
| REVENUES, GAINS (LOSSES) AND OTHER SUPPORT: | ||
| Investment income, net of expenses |
1,945,775 |
2,383,174 |
| Realized gain on investments |
4,225,818 |
6,521,694 |
| Unrealized gain (loss) on investments |
5,173,865 |
(4,085,352) |
| Grant and Other Revenue | 5,582 | 39,900 |
| Cancelled grants | 243,259 | 116,175 |
| Gain (loss) on disposal of asset | 391 |
(8,125) |
|
11,585,690 |
4,967,466 |
| EXPENSES |
2006 |
2005 |
| Grants and program services: | ||
| Proactive, responsive and capacity building grants (and related expenses) |
2,329,049 |
2,241,631 |
| Community Building |
652,142 |
1,053,600 |
|
3,457,429 |
3,295,231 |
| Supporting services |
476,238 |
402,598 |
|
3,457,429 |
3,697,829 |
| CHANGE IN NET ASSETS - UNRESTRICTED |
8,128,261 |
1,269,637 |
| NET ASSETS - UNRESTRICTED AT BEGINNING OF YEAR |
81,407,123 |
80,137,486 |
| NET ASSETS -
UNRESTRICTED, AT END OF YEAR |
$89,535,384 |
$81,407,123 |
ASSETS
|
2006 |
2005 | |
| CURRENT ASSETS: | ||
| Cash and cash equivalents |
$871,289 |
$1,029,674 |
| Accounts receivable |
3,463 |
-- |
| Prepaid expenses |
26,497 |
3,800 |
| Deposits |
7,800 |
5,100 |
|
909,049 |
1,038,574 |
| INVESTMENTS |
90,066,172 |
81,746,344 |
| PROPERTY AND
EQUIPMENT (net) |
40,865 |
50,930 |
|
$91,016,086 |
$82,835,848 |
LIABILITIES AND NET ASSETS
| CURRENT LIABILITIES: | ||
| Accounts payable |
100,153 |
$ 42,634 |
| Pension liability |
10,311 |
2,693 |
| Deferred compensation |
15,000 |
-- |
| Grants payable |
1,355,238 |
1,383,398 |
|
1,480,702 |
1,428,725 |
| NET ASSETS - UNRESTRICTED: | ||
| Undesignated |
89,495,538 |
81,367,277 |
| Board designated |
39,846 |
39,846 |
|
89,535,384 |
82,835,848 |
| TOTAL LIABILITIES AND NET
ASSETS |
91,016,086 |
82,835,848 |