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2017 Annual Financial Statements

Assets
Cash equivalents: $ 6,536,506
Investments in securities: $ 177,520,335
Dividends and interest receivable: $ 372,400
Other assets: $ 40,674
Total Assets: $ 184,469,915
Liabilities and Net Assets
Grants approved for future payment: $ 2,227,878
Accounts payable and accrued expenses: $ 273,825
Deferred excise taxes: $ 414,047
Total liabilities: $ 2,915,750
Net assets: $ 181,554,165
Total Liabilities and Net Assets $ 184,469,915
Statements of Activities
Gain (loss) from investments: $ 28,118,692
Investment related and other expenses: $ 1,162,103
Net gain(loss) from investments: $ 26,956,589
Grants approved: $ 6,493,427
Grant support: $ 1,749,908
Total grants approved / related expenses: $ 8,243,335
Net Gain (Loss) for the period $ 18,713,254