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

STATEMENT OF ACTIVITIES

 

 

  

2006

 

2005
 

SUPPORT AND REVENUE

 
    Interest  
$ 619,067
$ 794,736
    Dividends  
82,456
315,089
    Gain on sale of investments and change in unrealized gain  
2,050,588
3,978,938
       
    TOTAL SUPPORT AND REVENUES  

2,752,111

5,088,763
       

 

  

 
 

EXPENSES

      
    Program  
      Grants  
11,289,000
13,947,375
      Foundation Directed Projects  
430,839
471,897
       
11,719,839
  
14,419,272
    Administration  
      Accounting and audit  
27,162
30,013
      Bank charges  
175
170
      Board meeting, conferences and travel  
115,613
111,057
      Consultants  
26,708
61,161
      Depreciation  
86,321
107,418
               
      Equipment  
38,424
30,017
      Excise and Unrelated business income taxes
33,138
52,100
      Insurance  
14,396
14,833
      Investment fees  
225,156
316,932
      Legal  
48,814
59,395
               
      Memberships  
30,134
26,710
      Office supplies  
31,792
27,653
      Payroll taxes and benefits  
346,233
339,496
      Rent and utilities  
190,624
182,256
      Repairs and maintenance  
28,319
24,476
      Salaries  
962,279
893,131
      Telephone  
33,466
34,877
         
2,239,754
2,311,695
    Total Expenses  
13,959,593
16,730,967
    Change in Net Assets for the Year  
(11,207,482)
(11,642,204)
    Net Assets, Beginning of Year  
54,142,407
65,784,611
    NET ASSETS, END OF YEAR  
$ 42,934,925
$ 54,142,407
 

 

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