STATEMENT OF FINANCIAL POSITION
May 31, 2005 and 2004
| Assets |
2005 |
2004 |
Cash and cash equivalents
|
$ 1,878,847 |
$ 5,759 |
| Contributions receivable |
2,000,000
|
7,000,000 |
| Investments, at fair value |
2,939,396 |
2,400,188 |
(cost – $2,523,266 in 2005 and $2,141,734 in 2004)
|
|
|
Total Assets
|
$ 6,818,243 |
$ 9,405,947 |
| |
|
|
| Liabilities and Net Assets |
|
|
| Liabilities: |
|
|
Due to sponsor
|
$ 6,000 |
— |
Grants payable
|
909,303 |
1,287,192 |
| Total Liabilities |
$ 915,303 |
$ 1,287,192 |
| Unrestricted net assets |
5,902,940 |
8,118,755 |
Total Liabilities and Net Assets |
$ 6,818,243 |
$ 9,405,947 |
See accompanying notes to financial statements.
|
