Summarized Statement of Operations and Changes in Fund Balances

For the year ended December 31, 2009 (in thousands of dollars)

2009

2008

Revenue

   Donations

$

5,315

$

2,427

   Investment earnings (losses) in endowment funds

12,284

(14,628)

   Other Earnings

33

61

17,632

(12,140)

Expenses

   Grants and programs

4,323

5,105

   Investment fees in endowment funds

630

281

   Operating expenses

1,145

1,365

6,098

6,751

Excess (deficiency) of revenue over expense

11,534

(18,891)

Fund balances, beginning of year

72,846

91,737

Fund balances, end of year

$

84,380

$

72,846

Summarized Balance Sheet

December 31 (in thousands of dollars)

2009

2008

Assets

   Cash, receivables and short-term deposits

$

279

$

207

   Investments

84,982

73,013

   Real Estate

300

300

   Capital Assets

8

13

$

85,569

$

73,533

Liabilities and Fund Balances

Liabilities

   Grants payable and accrued liabilities

$

315

$

183

   Managed Funds

874

504

1,189

687

Fund Balances

   Endowment Funds

       Contributed capital

83,975

82,633

       Increase (decrease) in capital

(3,949)

(14,793)

   Funds for charitable distribution

3,878

4,650

   Operating fund

476

356

84,380

72,846

$

85,569

$

73,533

To view the full financial statements, click here. (PDF)