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2015 Annual Financial Statements

Assets
Cash equivalents: $ 32,233
Investments in securities: $ 164,122,460
Dividends and interest receivable: $ 410,607
Other assets: $ 31,520
Total Assets: $ 164,596,820
Liabilities and Net Assets
Grants approved for future payment: $ 4,076,404
Accounts payable and accrued expenses: $ 181,660
Deferred excise taxes: $ 308,233
Total liabilities: $ 4,566,297
Net assets: $ 160,030,523
Total Liabilities and Net Assets $ 164,596,820
Statements of Activities
Gain (loss) from investments: $ 3,116,919
Investment related and other expenses: $ (967,996)
Net gain(loss) from investments: $ 2,148,923
Grants approved: $ 5,903,646
Grant support: $ 1,396,167
Total grants approved / related expenses: $ 7,299,813
Net Gain (Loss) for the period $ 5,150,890