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Summary Financial Statement

Comparative Summary Statement of Financial Position

ASSETS (in thousands) March 31, 2016 March 31, 2015
Cash and cash equivalents $8,455 $9,504
Investments (at fair value):
 

U.S. government and agency obligations

 11,225
 11,594

Corporate bonds

 8,117
 8,325

Other fixed income

 15,730
 14,287

U.S. equity securities

 63,754
 81,628

International equity securities

 31,819
 34,866

Alternative investments

 29,149
 17,182

Real estate held for investment

 552
 552

Total investments

 160,346  168,434
Trust accounts:    

Third party trusts

 9,985  11,095

Pooled life income fund receivable

 150  151

Total trust accounts

 10,135  11,246
Contributions receivable — net  268  516
Note receivable  1,057
 
Accrued investment income  166  230
Prepaid expenses  68  80
Land and land improvements  344  344
Building and equipment:    

Building and equipment

 1,402  1,259

Less accumulated depreciation

 (293)  (75)

Building and equipment — net

 1,110  1,184
Cash value of life insurance  57  54
Total Assets

$182,006 $191,592

LIABILITIES AND NET ASSETS (in thousands) March 31, 2016 March 31, 2015
Liabilities:    

Accounts payable and accrued liabilities

$483 $510

Grants approved for future payment

 389  549

Funds held as agency endowments

 22,344  23,227

Total liabilities

 23,216  24,286
Net assets

 158,790  167,306

Total Liabilities and Net Assets $182,006 $191,592

Comparative Summary Statement of Activities

REVENUES, GAINS AND SUPPORT (in thousands) March 31, 2016 March 31, 2015
Contributions received $10,470 $13,647
Investment income  3,593  3,703
Net appreciation (depreciation) in fair value of assets  (10,678)   4,851
Less amounts held for agency endowments:    

Contributions

 (1,325)  (1,988)

Investment income

 (388)  (398)

Net depreciation (appreciation) in fair value of assets

 1,333  (613)

Total less amounts held for agency endowments

 (380)  (2,999)
Net insurance proceeds from fire  
 712
Total Revenues, Gains and Support

$3,005
$19,914

EXPENSES AND DISTRIBUTIONS (in thousands) March 31, 2016 March 31, 2015
Grants and other distributions $9,695 $9,168
Administrative expenses  2,385  2,336
Building impairment due to fire  
 0
Investment expenses  704  704
Less amounts held for agency endowments:    

Grants and other distributions

 (962)  (644)

Administrative expenses 

 (225)  (203)

Investment expenses

 (76)  (73)

Total less amounts held for agency endowments

 (1,263)  (920)

Total Expenses and Distributions

$11,521  $11,288
Increase (decrease) in net assets  (8,516)  8,626
Net assets, beginning of year  167,306   158,680

Total Liabilities and Net Asset

$158,790 $167,306