2014 Financial Summary

Gifts & Grants  $266,208.70
   Misc. Income-Sale of Artwork  $484.00
 Revenue from Fundraising Events  $31,726.11
    Less Funraising Expenses  $(21,715.18)
    Net Fundraising Income  $10,010.93
  
 Investment Dividends and Interest  $247,061.36
 Net Realized Gain/(Loss) on Investments  $109,917.80
 Net Unrealized Gain/(Loss) on Investments   $(93,456.02)
 Rental Income  $825.00
 Total Support & Revenues of:  $541,051.77
  
 Expenses  
 Program Costs  
              Academic Program Costs  $51,798.58
              Enhancement Grant Payments  $18,986.45
              Capital Improvements  $358,172.72
 Student Grants and Scholarships  $220,654.36
 Administrative Expenses  $1,964.89
 Investment Fiduciary Fees  $23,673.58
 Write off uncollectible gifts  $-  
 Total Expenses  $675,250.58
 Net Income/Loss  $(134,198.81)
  
 The 12/31/14 Fund Balance is represented by:  
 Cash of:  $45,723.23
 Investments at Fair Market Value of:  $6,786,669.21
 Art Collections,   $423,778.09
 SACAssets & Piano Net of Depreciation  $4,567.09
 Beneficial Interest in Perpetual Trust  $70,231.96
 Prepaid Expenses  $250.00
 Accounts Payable  $(342,325.49)
 Resulting in Total Assets on 12/31/14  $6,988,894.09