Table of Contents Message from the Chair Message from the President 2005 Grants List Financial Reports Program Guidelines Staff Board of Trustees  

STATEMENT OF CASH FLOWS
 

CASH FLOWS PROVIDED (USED)

2005

 

2004
 
CASH FLOWS PROVIDED (USED)
FROM OPERATING ACTIVITIES
 
    Change in net assets  
$(11,207,482)
$(11,642,204)
             
    Adjustments to reconsile change in net assets to net cash provided by operating activities:
    Depreciation  
86,321
107,418
    Realized (gain) loss on sale of investments  

(2,534,966)

(4,229,347)
    Change in unrealized appreciation  

484,378

  

250,409
    Decrease in interest receivable  
140,095
107,325
    (Increase) decrease in other assets  
9,393
(8,199)
    Increase in accounts payable  
(31,588)
(116,902)
    Increase (decrease) in grants payable  
(1,675,055)
(260,456)
    Increase in Tax payable
5,000
-
       
             
       
 

FROM INVESTING ACTIVITIES

   
 
    Purchase of fixed assets  
-
(11,962)
    Purchase of investments  
(18,691,470)
(23,515,986)
    Proceeds from sales or maturities of investments
33,535,813
  
39,228,538
       
14,844,343
15,700,590
             
    Net Increase (decrease) in Cash  
120,439
(91,366)
       
    Cash, beginning of year  

145,785
237,151
       
..
    Cash, end of year  
266,224
145,785
             
    Supplemental Information:        
    Cash paid for excise taxes  
$ 25,238
$ 53,900
The accompanying notes to the financial statements are an integral part of these statements.
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