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2016 Annual Financial Statements

Assets
Cash equivalents: $ 20,230
Investments in securities: $ 164,770,854
Dividends and interest receivable: $ 395,653
Other assets: $ 45,339
Total Assets: $ 165,232,076
Liabilities and Net Assets
Grants approved for future payment: $ 1,928,800
Accounts payable and accrued expenses: $ 166,774
Deferred excise taxes: $ 295,591
Total liabilities: $ 2,391,165
Net assets: $ 162,840,911
Total Liabilities and Net Assets $ 165,232,076
Statements of Activities
Gain (loss) from investments: $ 10,009,208
Investment related and other expenses: $ (967,283)
Net gain(loss) from investments: $ 9,029,925
Grants approved: $ 4,835,299
Grant support: $ 1,384,278
Total grants approved / related expenses: $ 6,219,537
Net Gain (Loss) for the period $ 2,810,388