Financial Statement

December 31, 2006

ASSETS
Market
Cost
Common Stock $48,874,514 $41,398,548
Convertible Securities $3,340,033 $3,440,639
Fixed Income $13,853,422 $14,035,329
Miscellaneous $372,142 $228,602
Liquidity (Includes Checking) $1,894,777 $1,894,777
Total Assets
$68,334,888 $60,997,895


Statement of Income and Disbursements

January 1, 2006 to December 31, 2006

INCOME
Dividends and Interest $1,678,941
Net Gain from Sale of Assets $8,406,655
Other Income $75,043
Operating Fund $0
Total Income
$10,160,639

 
DISBURSEMENTS FROM INCOME
Grants Paid $3,949,370
Investment and Administrative $740,956
Accounting Adjustment $( 19,676)
Excise Tax $101,837
Total Disbursements
$4,772,487