Endowment Fund Financial Reports



Statement of Condition March 31, 2017

 
Assets
 
Checking Account
$ 6,144
Marketable Securities
$ 3,319,534
 
Total Assets
$ 3,325,678
 
Liabilities
$ 0
 
Net Worth
$ 3,325,678

 

Income Statement 1st Quarter 2017

 
Income
 
Donor Contributions
$ 10,449
Interest
$ 4
Investment Gain (Loss)
$ 135,073
 
Total Income
$ 145,526
 
Expense
   
Library Support
$ 5,332
Adjustments
$ 807
   
Total Expense
$ 6,139
 
Net Gain (Loss)
$ 139,387

 

Funds Available for Library Support

The LALE policy is that 4.5% of Endowment assets, determined by averaging that amount over the three preceding years, will be available each year for disbursement to the Library. Unused distributions are carried forward for five years.

 

 

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