 |
|
|
|
FINANCIAL STATEMENTS
Balance Sheet
(As of June 30, 2002)
| ASSETS |
|
|
| Cash and equivalents |
$ 560,795 |
| Investments, at fair value (See Note 1) |
18,474,527
 |
|
|
TOTAL ASSETS
|
$ 19,035,322
 |
LIABILITIES AND NET ASSETS
|
|
|
| LIABILITIES: |
|
|
Accounts payable and accrued liabilities |
$ 114,794 |
| |
Grants payable |
1,542,795
|
|
|
|
| |
Total Liabilities |
1,657,589 |
|
|
|
| NET ASSETS- |
|
| |
Unrestricted |
17,377,733
|
|
|
|
| TOTAL LIABILITIES AND NET ASSETS |
$ 19,035,322
|
Statement of Activities
(For the year ended June 30, 2002)
REVENUES AND SUPPORT:
|
Net realized and unrealized losses on investments |
$ (12,222,864) |
|
Investment income |
89,955 |
| |
Other income (loss) |
(134,275)
|
|
|
|
|
Total revenues and support |
(12,267,184)
|
EXPENSES:
|
Program services: |
|
|
Grant expenses (See Note 2) |
1,513,517 |
| |
Other program expenses |
185,887 |
| |
Management and general: |
|
|
CFSV support fee (See Note 3) |
289,127 |
|
Other administrative expenses |
774,640
|
|
|
|
|
Total expenses |
2,763,171
|
| DECREASE IN NET ASSETS |
(15,030,355) |
| NET ASSETS, BEGINNING OF YEAR |
32,408,088
|
| NET ASSETS, END OF YEAR |
$ 17,377,733
|
Note 1: This includes $358,297 in venture capital funds and LearnNow, Inc. stock held in escrow.
Note 2: This includes multi-year grants awarded but not yet fully disbursed; the actual grant amount of $1,557,440 has been discounted to reflect its net present value.
Note 3: Fee to Community Foundation Silicon Valley as a supporting organization.
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