2013 Financial Summary

    

 

We received contributions totaling: 
  
Gifts of Cash            $371,974.50
Investment Dividends and Interest $208,992.73
Net Realized/Unrealized Gain on Investment Sales $542,321.38
Schmidt Art Center Rental Income $1,080.00
Which resulted in total revenues of: $1,124,368.61
  
We distributed: 
Program Costs $159,913.72
Foundaton Enhancement Grants $19,624.92
Student Grants and Scholarships $211,976.80
Administrative Expenses $2,342.79
Investment Fiduciary Fees $17,054.18
Write off of uncollectable gifts $2,619.69
Which resulted in total expenditures of: $413,532.10
  
Net Income: $710,836.51
  
When combined with our Fund Balance from 12/31/12 $6,429,703.51
  
Resulting in a new Fund Balance at 12/31/13 $7,140,540.02
  
The 12/31/13 Fund Balance is represented by: 
Cash of: $95,482.04
Investments at Fair Market Value of: $6,548,142.98
Art Collections, Piano, SAC  Net of Depreciation $428,042.35
Accounts Payable $(39.00)
Beneficial Interest in Perpetual Trust $68,911.65
Pledge Receivables $-  
Resulting in Total Assets on 12/31/13 $7,140,540.02