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

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

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