Summarized Statement of Operations and Changes in Fund Balances

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

2010

2009

Revenue

   Donations

$

7,995

$

5,315

   Investment earnings in endowment funds

4,964

12,284

   Other Earnings

18

33

12,977

17,632

Expenses

   Grants and programs

6,307

4,323

   Investment fees in endowment funds

421

630

   Operating expenses

1,211

1,145

7,939

6,098

Excess of revenue over expenses

5,038

11,534

Fund balances, beginning of year

84,380

72,846

Fund balances, end of year

$

89,418

$

84,380

Summarized Balance Sheet

December 31 (in thousands of dollars)

2010

2009

Assets

   Cash, receivables and short-term deposits

$

333

$

279

   Investments

90,011

84,982

   Real Estate

300

300

   Capital Assets

8

8

$

90,652

$

85,569

Liabilities and Fund Balances

Liabilities

   Grants payable and accrued liabilities

$

47

$

315

   Managed Funds

1,187

874

1,234

1,189

Fund Balances

   Endowment Funds

       Contributed capital

88,651

83,975

       Increase (decrease in capital)

(3,487)

(3,949)

   Funds for charitable distribution

3,796

3,878

   Operating fund

458

476

89,418

84,380

$

90,652

$

85,569