Endowment Fund Financial Reports



Statement of Condition March 31, 2021

 
Assets
 
Checking Account
$ 21,260
Marketable Securities
$ 4,391,487
 
Total Assets
$ 4,412,747
 
Liabilities
$ 0
 
Net Worth
$ 4,412,747

 

Income Statement 1st Quarter 2021

 
Income
 
Donor Contributions
$ 13,175
Interest
$ 10
Investment Gain (Loss)
$ 255,965
 
Total Income
$ 269.150
 
Expense
   
Library Support
$ 41,671
Adjustments
$ 0
   
Total Expense
$ 41,671
 
Net Gain (Loss)
$ 227,479

 

Funds Available for Library Support

The LALE policy is that 4.5% of Endowment assets, determined by averaging that amount over the three preceding years, will be available each year for disbursement to the Library. Unused distributions are carried forward for five years.

 

 

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