Annual Report - 2004
Financials - Statement of Activities
For the Years Ended 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.
| Support and revenues: | 2004 | 2003 |
| Total amounts received into Foundation | $8,632,585 | $12,029,891 |
| Less amounts received for agency accounts and others, net of transfers to endowments |
820,645 | 5,375,911 |
| Total Contributions | 7,811,940 | 6,653,980 |
| Program Income | 28,023 | 109,601 |
| Total realized gains | 2,218,572 | 470,285 |
| Less amounts received for agency endowments |
266,957 | 141,765 |
| Realized gains | 1,951,615 | 328,520 |
| Total investment income | 837,949 | 492,637 |
| Less amounts received for agency endowments |
179,839 | 107,245 |
| Investment income | 658,110 | 385,392 |
| Total change in unrealized losses | 960,609 | 3,034,267 |
| Less amounts for agency endowments | 359,845 | 817,744 |
| Change in unrealized gains | 600,764 | 2,216,523 |
| Total support and revenues | $11,050,452 | $9,694,016 |
| Total grants and distributions, net | $2,178,686 | $4,221,028 |
| Less grants made from agency endowments |
1,511,405 | 3,749,601 |
| Grants and distributions, net | 667,281 | 471,427 |
| General and administrative expenses: | ||
| Personnel costs | 356,905 | 299,360 |
| Office and other | 170,200 | 178,929 |
| Investment expenses | 240,908 | 147,597 |
| Depreciation/depletion | 11,601 | 6,044 |
| Less administrative allocation to agency endowments |
-109,821 | -89,743 |
| Total general and administrative expenses |
669,793 | 542,157 |
| Total grants, distributions and expenses | 1,337,074 | 1,013,584 |
| Change in net assets | 9,713,378 | 8,680,432 |
| Net assets at beginning of year, before reclassification | $17,373,500 | $7,817,683 |
| Reclassification of net asset balanced | 97,087 | 875,385 |
| Net assets at end of year | $27,183,965 | $17,373,500 |
