STATEMENT OF ACTIVITIES

 

 

  

2006

 

2005
 

SUPPORT AND REVENUE

 
    Interest  
$ 854,314
$ 619,067
    Dividends and partnership earnings  
42,246
82,456
    Gain on sale of investments and change in unrealized gain  
2,314,423
2,050,588
       
    TOTAL SUPPORT AND REVENUES  

3,210,983

2,752,111
       

 

  

 
 

EXPENSES

        
    Program  
      Grants  
12,364,899
11,289,000
      Foundation directed projects  
337,935
430,839
       
12,702,834
  
11,719,839
    Administration  
      Accounting and audit  
24,630
27,162
      Bank charges  
270
175
      Board meetings, conferences and travel  
120,914
115,613
      Consultants  
18,938
26,708
      Depreciation  
81,457
86,321
               
      Equipment  
17,059
38,424
      Excise and unrelated business income taxes
66,300
33,138
      Insurance  
12,319
14,396
      Investment fees  
101,730
226,156
      Legal  
61,545
48,814
               
      Memberships  
21,775
30,134
      Office supplies  
17,703
31,792
      Payroll taxes and benefits  
381,507
346,233
      Rent and utilities  
195,307
190,624
      Repairs and maintenance  
32,518
28,319
      Salaries  
1,047,099
962,279
      Telephone  
33,492
33,466
         
2,234,563
2,239,754
    Total Expenses  
14,937,397'
13,959,593
    Change in Net Assets for the Year  
(11,726,414)
(11,207,482)
    Net Assets, Beginning of Year  
42,934,925
54,142,407
    NET ASSETS, END OF YEAR  
$ 31,208,511
$ 42,934,925
 

 

  
The accompanying notes to the financial statements are an integral part of these statements.
       
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