Financial Reports
| Combined Statements of Position December 31, 1999 and 1998 |
||
|
1999
|
1998
|
|
| Assets | ||
| Cash and cash equivalents, substantially all interest bearing | $96,754 | $71,700 |
| Investments | 10,824,970 | 8,855,770 |
| Prepaid Expenses | 74 | 349 |
| Oil and gas royalty interests, net | 14,319 | 19,530 |
| Accounts receivable | 10,515 |
--
|
| Pledges receivable | 2,028 | 42,028 |
| Accrued interest receivable | 38,095 | 16,762 |
| Furniture and fixtures, net | 26,754 | 27,125 |
| Total assets | $11,013,509 | $9,033,264 |
| Liabilities and Net Assets | ||
| Grants payable | $102,125 | $136,284 |
| Accrued payroll taxes | 2,219 |
--
|
| Net assets | ||
| Restricted | ||
| General endowment funds | $1,813,268 | $1,465,746 |
| Advice and consult endowment funds | 5,029,096 | 4,343,499 |
| Donor designated endowment funds | 3,717,340 | 2,763,309 |
| Pass through funds | 276,134 | 257,564 |
| Unrestricted | 73,327 | 66,862 |
| Total net assets | $10,909,165 | $8,896,980 |
| Total liabilities and net assets | $11,013,509 | $9,033,264 |
| Combined Statements of Activities | ||
| For the Years Ended December 31, 1999 and 1998 | ||
|
1999
|
1998
|
|
|
Support and revenues
|
||
| Contributions | $1,326,084 | $522,563 |
| Realized gains | 435,324 | 1,461,896 |
| Investment income | 251,372 | 348,938 |
| Unrealized gains (losses) | 1,142,388 | 934,683 |
| Total support & revenues |
$3,155,168
|
$1,398,714 |
| Grant expenses |
$817,102
|
$859,540 |
|
General & administrative expenses
|
||
| Personnel costs | 137,615 | 124,702 |
| Office and other | 91,411 | 69,947 |
| Investment expenses | 87,223 | 80,026 |
| Depreciation/depletion | 9,632 | 8,540 |
| Total general & administrative expenses |
$325,881 | $283,215 |
| Total expenses | $1,142,983 | $1,142,755 |
| Change in net assets | $2,012,185 | $255,959 |
| Net assets at beginning of year | $8,896,980 | $8,641,021 |
| Net assets at end of year | $10,909,165 | $8,896,980 |
| Complete financial statements, audited by Mr. Douglas C. Bunnell, Certified Public Accountant, are available for review in the offices of Permian Basin Area Foundation. | ||
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