Annual Report - 2003
Financials - Statement of Financial Position
December 31, 2003 and 2002
Complete financial statements, audited by Mr. Douglas C. Bunnell, Certified Public Accountant, are available for review in the offices of Permian Basin Area Foundation.
| 2003 | 2002 | |
Assets |
||
| Cash and cash equivalents, substantially all interest bearing | $34,073 | $31,737 |
| Investments | ||
| Cash and equivalents | 1,936,656 | 2,201,561 |
| Marketable Securities: | ||
| Equities | 16,159,945 | 7,783,868 |
| Government and Agency | 2,868,045 | 1,941,641 |
| Corporate Bonds | 4,484,470 | 1,477,172 |
| Total Investments | 25,449,116 | 13,404,242 |
| Prepaid expenses | 546 | 352 |
| Oil and gas royalty interests, net | — | — |
| Accrued interest receivable | 98,680 | 46,495 |
| Other assets | 9,015 | 9,015 |
| Furniture and fixtures, net | 49,393 | 20,878 |
| Total assets | $25,640,823 | $13,512,719 |
Liabilities and Net Assets |
||
| Grants payable | $980,161 | $135,809 |
| Amounts due to other organizations for agency accounts and other designated purposes | 7,287,162 | 5,559,227 |
| Net assets | ||
| Restricted | ||
| General endowment funds | 5,781,063 | 2,058,594 |
| Designated beneficiaries funds | 4,317,657 | 952,195 |
| Scholarship endowment funds | 1,863,657 | 1,472,492 |
| Advise and consult endowment funds | 5,043,905 | 4,182,214 |
| Temporarily restricted | 60,476 | 41,682 |
| Unrestricted | 306,556 | 25,000 |
| Total net assets | 17,373,500 | 8,688,068 |
| Total liabilities and net assets | $25,640,823 | $13,512,719 |
Next: Financials - Statements of Activities
