Assets
Cash equivalents:
$ 174,604
Investments in securities:
$ 117,533,053
Dividends and interest receivable:
$ 419,949
Other assets:
$ 51,157
Total Assets = $ 118,178,863
Liabilities and Net Assets
Grants approved for future payment:
$ 5,028,015
Accounts payable and accrued expenses:
$ 134,412
Deferred excise taxes:
$ -------------
Total liabilities:
$ 5,162,427
Net assets:
$ 113,016,336
Total Liabilities and Net Assets = $ 118,178,763
Statements of Activities
Gain (loss) from investments:
$ (37,427,667)
Investment related and other expenses:
$ (504,104)
Net gain (loss) from investments:
$ (37,931,771)
Grants approved:
$ 2,919,145
Grant support:
$ 915,935
Total grants approved / related expenses:
$ 3,835,080
Net Gain (Loss) for the period = $ (41,766,851)