Statement of Assets, Liabilities, and Net Assets (Income Tax Basis)
June 30, 2019
| Assets | |
| Cash and temporary cash investments | $3,594,162 |
| Investments, at market value | |
| Real estate | $135,278,284 |
| Managed investments | $337,047,526 |
| Total investments | $472,325,810 |
| Prepaid expenses and other assets | $15,993 |
| Building, office furniture and equipment, net | $191,127 |
| Total Assets | $476,127,092 |
| Liabilities | |
| Security deposits and other liabilities | $9,990 |
| Total Liabilities | $9,990 |
| Net Assets | $476,117,102 |
| Total Liabilities & Net Assets | $476,127,092 |
Statement of Revenue, Expenses and Changes in Net Assets (Income Tax Basis)
Year Ended June 30, 2019
| Revenue | |
| Rental Income | $3,469,620 |
| Partnership Income | $4,675,524 |
| Interest & Dividends | $4,249,044 |
| Realized gain (losses) on equity investments | $6,640,469 |
| Other income/expenses, net | $-1,701,553 |
| Total Revenue | $17,333,104 |
| Expenses | |
| Grants paid | $19,390,419 |
| Operating and administrative expenses | $1,765,336 |
| Excise & income taxes | $1,042,578 |
| Total Expenses | $22,198,333 |
| Excess of Revenue over Expenses | $-4,865,229 |
| Net assets at June 30, 2018 | $474,006,902 |
| Direct entries to net assets | $6,975,428 |
| Net assets at June 30, 2019 | $476,117,102 |