Endowment Fund Financial Reports
Statement of Condition September 30, 2011 |
|
Assets |
|
Checking Account |
$ 25,747 |
Marketable Securities |
$ 2,124,712 |
Total Assets |
$ 2,150,459 |
Liabilities |
$ 0 |
Net Worth |
$ 2,150,459 |
Income Statement 3rd Quarter 2011 |
|
Income |
|
Donor Contributions |
$ 0 |
Interest |
$ 15 |
Investment Gain (Loss) |
$ -289,004 |
Total Income |
$ -288,989 |
Expense |
|
Library Support |
$ 608 |
Adjustments |
$ 1,441 |
Total Expense |
$ 2,049 |
Net Gain (Loss) |
$ -291,038 |
Funds Available for Library SupportThe LALE policy is that five percent of Endowment assets, determined by averaging that amount over the twelve preceding quarters, will be available each year for disbursement to the Library. |