 |
Ben Weingart
The Year in Review
Grant Awards
Financial Highlights |
|
|
STATEMENTS OF FINANCIAL POSITION |
|
2009 |
|
|
2008 |
|
|
|
ASSETS |
|
Cash and cash equivalents |
|
$25,3332 |
|
|
$62,348 |
|
|
Investments at market value |
|
599,845,032 |
|
|
811,346,829 |
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|
Receivables and other assets |
|
4,108,829 |
|
|
9,570,768 |
|
|
|
Total Assets |
|
604,207,193 |
|
|
820,979,945 |
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|
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LIABILITIES |
|
Approved grants not yet paid |
|
20,739,020 |
|
|
41,265,223 |
|
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Accounts payable and deferred taxes |
|
2,477,949 |
|
|
6,538,115 |
|
|
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Total Liabilities |
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23,216,969 |
|
|
47,803,338 |
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|
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NET ASSETS |
|
580,990,224 |
|
|
773,176,607 |
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|
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Total Liabilities and Net Assets |
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$604,207,193 |
|
|
$820,979,945 |
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|
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STATEMENTS OF ACTIVITIES |
|
2009 |
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|
2008 |
|
|
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INCOME |
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Net investment income |
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$25,658,110 |
|
|
$30,161,537 |
|
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Realized and unrealized gain/(loss) |
|
(195,337,166) |
|
|
(92,719,558) |
|
|
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Total Income (loss) |
|
(169,679,056) |
|
|
(62,558,021) |
|
|
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EXPENDITURES |
|
Grants approved |
|
23,770,300 |
|
|
42,249,237 |
|
|
Operating expenses |
|
2,470,785 |
|
|
2,268,029 |
|
|
Excise tax provision (benefit) |
|
(3,733,758) |
|
|
(1,154,145) |
|
|
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Total Expenditures |
|
22,507,327 |
|
|
43,363,121 |
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|
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CHANGES IN NET ASSETS |
|
Change in unrestricted net assets |
|
(192,186,383) |
|
|
(105,921,142) |
|
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Net assets at the beginning of the year |
|
773,176,607 |
|
|
879,097,749 |
|
|
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Net Assets at the End of the Year |
|
$580,990,224 |
|
|
$773,176,607 |
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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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