 |
Ben Weingart
The Year in Review
Grant Awards
Financial Highlights |
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|
STATEMENTS OF FINANCIAL POSITION |
|
2008 |
|
|
2007 |
|
|
|
ASSETS |
|
Cash and cash equivalents |
|
$62,348 |
|
|
$655,996 |
|
|
Investments at market value |
|
811,346,829 |
|
|
923,739,832 |
|
|
Receivables and other assets |
|
9,570,768 |
|
|
10,015,827 |
|
|
|
Total Assets |
|
820,979,945 |
|
|
934,411,655 |
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|
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LIABILITIES |
|
Approved grants not yet paid |
|
41,265,223 |
|
|
46,127,733 |
|
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Accounts payable and deferred taxes |
|
6,538,115 |
|
|
9,186,173 |
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|
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Total Liabilities |
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47,803,338 |
|
|
55,313,906 |
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|
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NET ASSETS |
|
773,176,607 |
|
|
879,097,749 |
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|
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Total Liabilities and Net Assets |
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$820,979,945 |
|
|
$934,411,655 |
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|
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STATEMENTS OF ACTIVITIES |
|
2008 |
|
|
2007 |
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|
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INCOME |
|
Net investment income |
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$30,161,537 |
|
|
$28,632,095 |
|
|
Realized and unrealized gain/(loss) |
|
(92,719,558) |
|
|
113,989,371 |
|
|
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Total Income (loss) |
|
(62,558,021) |
|
|
142,621,466 |
|
|
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EXPENDITURES |
|
Grants approved |
|
42,249,237 |
|
|
57,855,923 |
|
|
Operating expenses |
|
2,268,029 |
|
|
1,956,193 |
|
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Excise tax provision (benefit) |
|
(1,154,145) |
|
|
5,454,496 |
|
|
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Total Expenditures |
|
43,363,121 |
|
|
65,266,612 |
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|
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CHANGES IN NET ASSETS |
|
Change in unrestricted net assets |
|
(105,921,142) |
|
|
77,354,854 |
|
|
Net assets at the beginning of the year |
|
879,097,749 |
|
|
801,742,895 |
|
|
|
Net Assets at the End of the Year |
|
$773,176,607 |
|
|
$879,097,749 |
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A complete set of Financial Statements, audited by Green Hasson & Janks LLP in which an unqualified opinion was rendered, is available upon written request to the President.
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