Financial Statements

STATEMENT OF FINANCIAL POSITION
As of June 30

Assets	2023	2022
Cash	277,012	54,304
Investments	20,161,942	20,283,201
Prepaid Excise Taxes	–	7,157
Deposit	3,780	3,780
Office Equipment, net	9,388	1,065
Total Assets	20,452,122	20,349,507
Liabilities and Fund Balance
Grants Payable	192,800	204,800
Accrued Expenses	6,107	4,746
Excise Tax Payable	112	3,773
Deferred Excise Taxes	20,800	21,700
Fund Balance	20,232,303	20,114,488
Total Liabilities and Fund Balance	20,452,122	20,349,507

 

STATEMENT OF ACTIVITIES
Year ended June 30

Revenue	2023	2022
Interest and Dividends	777,911	1,082,113
Net Realized Gain	589,444	594,901
Other Income	–	402
Total Revenue	1,367,355	1,677,416
Expenditures
Grants	869,900	657,900
Financial Management	20,941	24,278
Administrative Expenses	264,775	245,916
Federal Excise Tax	32,879	(25,613)
Total Expenditures	1,188,495	902,481
Excess of Revenue Over Expenditures	178,860	774,935
Net Unrealized Gain (loss)	(61,045)	(4,746,569)
Fund Balance Beginning of  Year	20,114,488	24,086,122
Fund Balance End of Year	20,232,303	20,114,488

These condensed financial statements were derived from
audited (2023) and reviewed (2022) financial statements.