STATEMENT OF CASH FLOWS |
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CASH FLOWS PROVIDED (USED) |
2006 |
2005 |
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CASH FLOWS PROVIDED (USED)FROM OPERATING ACTIVITIES |
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| Change in net assets | $(11,726,414) |
$(11,207,482) |
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| Adjustments to reconcile change in net assets to net cash provided by operating activities: | |||||||
| Depreciation | 81,457 |
86,321 |
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| Realized (gain) loss on sale of investments | (5,796,838) |
(2,534,966) |
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| Change in unrealized appreciation | 3,482,415 |
484,378 |
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| Decrease in interest receivable | - |
140,095 |
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| Decrease in other assets | 2,189 |
9,393 |
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| Decrease) in accounts payable | 41,252 |
(31,588) |
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| Increase in grants payable | (702,000) |
(1,675,055) |
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| Increase excise and un-related business income taxes payable | 33,500 |
5,000 |
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(14,584,439) |
(14,732,904) |
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FROM INVESTING ACTIVITIES |
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| Purchase of investments | (15,595,968) |
(18,691,470) |
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| Proceeds from sales or maturities of investments | 30,383,247 |
33,535,813 |
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14,787,279 |
14,844,343 |
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| Net Increase in Cash | 202,840 |
120,439 |
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| Cash, beginning of year | 266,224 |
145,785 |
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| Cash, end of year | 469,064 |
266,224 |
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| Supplemental Information: | |||||||
| Cash paid for excise taxes and unrelated business income taxes | $ 32,800 |
$ 25,238 |
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| The accompanying notes to the financial statements are an integral part of these statements. | |||||||
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