The financial condition of the Foundation remains strong. A complete financial report is available in the Foundation office.
Balance Sheet as of December 31, 2016 2015
ASSETS
Cash & Accounts Receivable $104,223 $ 99,127
Honor/Memorial Fund 8,386 8,036
Prepaid Expenses 1,318
*Endowment Fund 612,797 __594,189
Total Assets $726,724 $701,352
LIABILITIES AND CAPITAL
Liabilities
Payroll Taxes Payable $ 1,892 $ 1,598
Deferred Revenue 50,852 24,410
Total Liabilities 52,744 26,008
Capital
Balance Beginning of Year 675,344 742,816
Grants Distributed (139,135) (110,584)
Net Income for the year ended December 31, 137,771 43,112
Total Capital 673,980 675,344
Total Capital and Liabilities $726,724 $701,352
Summary of Operations
Twelve Months Ended December 31, 2016 2015
Gross Fund-Raising Revenues $193,196 $201,327
Less Direct Costs of Events 90,558 __98,756
Net Fund Raising Income 102,608 102,571
Other Revenues and Contributions
Membership Contributions 64,062 32,535
Endowment Contributions 275 175
Honor/Memorial Fund Donations 7,180 8,305
Endowment Fund Gains (Losses) 34,832 (28,479)
Interest and Dividends 7,974 7,426
Total Net Revenues 216,931 122,533
Expenditures
Salaries, Benefits & Services 64,591 66,082
Supplies, Printing and Mailings 9,064 8,669
Office Rent to PG&CC 1,200 1,200
Insurance, Licenses & Permits 4,305 3,470
Total Expenditures 79,160 79,421
NET INCOME $137,771 $ 43,112
*Endowment Fund Summary
Fund Balance - Beginning of Year $594,189 $615,074
Contributions 100 175
Net Investment Income 7,968 7,419
Grants (24,292)
Net Realized & Unrealized Gains (Losses) 34,832 (28,479)
Fund Balance End of Year $612,797 $594,189