 |
 |
|
Year ended December 31, 2006
|
| |
| Assets |
Market |
Cost |
| Cash and cash equivalents |
$11,638 |
$0 |
| Investments |
$530,913 |
$0 |
| Total |
$542,551 |
$0 |
|
| |
Statement of Income and Expenses for the year 2006
|
| |
| Income |
| Investment Income |
| Interest | $8,970 |
| Dividends |
$0 |
| Gain (loss) on sale of investments |
$51,473 |
| Total Income |
$60,443 |
|
| |
Expenses
|
| Grants paid |
$57,450 |
| Administrative expenses |
$15,256 |
| Investment management services |
$4,985 |
| Federal excise tax |
$62 |
| Legal and accounting |
$1,200 |
| Miscellaneous |
$1,000 |
| Total Grants and Expenses |
$79,953 |
| Change in Net Assets |
$(19,510) |
|
|
 |
