Annual Report - 2007

REVENUE AND EXPENSES (Income Tax Basis)
July 31, 2007
           
Revenue:      
  Interest and dividends  
$
677,092
  Net realized gain on sales of investments  
3,953,843
  Gain on gift of appreciated facilities    
1,028,547
  Other investment income  
415
  Other income      
19,244
    Total Revenue Collected  
$
5,679,141
           
Expenditures:      
  Grants and grant expenses    
797,859
  Gift of appreciated property      
2,319,205
  Grant administration    
248,417
  Hospital facilities expense      
51,532
  General and administrative      
90,035
  Investment expenses    
68,651
  Excise and other taxes    
60,932
    Total Expenditures Made  
$
3,636,631
           
Changes in net assets      
$
2,042,510
  Changes in net assets not reported under the cash  
  basis method of accounting:  
           
BALANCE SHEET    
     
Assets:    
  Cash and cash equivalents  
$
12,679
  Investments at fair market value  
28,399,215
           
  Property & equipment, net of accumulated depreciation  
    of $26,712      
$
326
           
  Total assets  
$
28,412,220
           
Liabilities and Net Assets:
 
  Liabilities        
-
       
  Net assets at fair market value    
$
     28,412,220
       
    Total Liabilities and Net Assets  
$
 28,412,220
                                                                 
The Foundation's financial statements are audited by Kundinger, Corder & Engle, P.C. A copy of the audited financials is available upon request


 

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