Revenue and Expenses - Fiscal Year Ending June 30, 2005
| Unrestricted | Temporarily Restricted |
Permanently Restricted |
Total | |
Revenue and Support |
||||
| Contributions (Note 1) | $122,955 | $172, 432 | $11,803 | $307,190 |
| Interest and dividends | 12,136 | 12.136 | ||
| Realized and unrealized gain on investments | 31,688 | 31,688 | ||
| Fund raising events | 33,613 | 33,613 | ||
| Net assets released from restrictions | 210,992 | ( 210,992) | ______ | ______ |
| Total revenue and support | 411,384 | ( 38,560) | 11,803 | 384,627 |
Expenses |
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| Scholarships and awards | 90,728 | 90,728 | ||
| Programs | 56,597 | 56,597 | ||
| Museum | 103,651 | 103,651 | ||
| Management and general | 62,397 | 62,397 | ||
| Fund raising events | 17,108 | 17,108 | ||
| Other fund raising | 11,765 | _______ | ________ | 11,765 |
| Total Expenses | 342,246 | _______ | ________ | 342,246 |
| Change in net assets | 69,138 | ( 38,560) | 11,803 | 42,381 |
| Net assets, beginning | 214,498 | 85,422 | 267,386 | 567,306 |
| Net assets, ending | $283,636 | $ 46,862 | $279,189 | $609,687 |
(Note 1) Charitable Gift Annuity: During 2005, the Foundation entered into a charitable gift annuity agreement. Under the agreement, total contributions of $100,000 were donated to the Foundation and the Foundation is required to make quarterly payments of $2,200 to the donor for the remainder of the donor’s life. The Foundation recognized contribution revenue of $43,493 and a liability of $50,161 representing the present value of the annuity payments under this agreement.