Annual Report - 2004
Financials - Statement of Financial Position
December 31, 2004 and 2003
The Foundation's IRS Form 990 and complete financial statements, audited by Mr. Douglas C. Bunnell, Certified Public Accountant, are available for review in the Foundation offices.
| 2004 | 2003 | |
Assets |
||
| Cash and cash equivalents | $13,709 | $34,073 |
| Investments | ||
| Cash and equivalents | 4,058,039 | 1,936,656 |
| Marketable Securities: | ||
| Equities | 21,105,438 | 16,159,945 |
| Government and Agency | 4,370,752 | 2,868,045 |
| Corporate Bonds | 4,709,461 | 4,484,470 |
| Total Investments | 34,243,690 | 25,449,116 |
| Prepaid expenses | 74 | 546 |
| Oil and gas royalty interests, net | — | — |
| Accrued interest receivable | 122,159 | 98,680 |
| Other assets | — | 9,015 |
| Furniture and fixtures, net | 39,357 | 49,393 |
| Total assets | $34,418,989 | $25,640,823 |
Liabilities and Net Assets |
||
| Grants payable | $38,887 | $980,161 |
| Amounts due to others for agency accounts and other designated purposes | 7,196,137 | 7,287,162 |
| Net assets | ||
| Restricted | ||
| General endowment funds | 6,642,859 | 5,781,063 |
| Designated beneficiaries funds | 4,562,038 | 4,317,657 |
| Scholarship endowment funds | 2,221,991 | 1,863,657 |
| Advise and consult endowment funds | 13,182,635 | 5,043,905 |
| Temporarily restricted | 95,492 | 60,476 |
| Unrestricted | 478,950 | 306,556 |
| Total net assets | 27,183,965 | 17,373,500 |
| Total liabilities and net assets | $34,418,989 | $25,640,823 |
Next: Financials - Statements of Activities
