|
|
|
|
| Interest and
Dividends |
$997,894 |
| Rental Income (net of
rental expenses of $61,704) |
328,011 |
| Gain on the sale of
real property |
11,962,090 |
| Net realized and
unrealized gain on investment securities |
3,745,310 |
| |
|
| Total revenues and
gains |
$17,033,305 |
|
|
| EXPENSES: |
|
| Charitable grants |
$2,424,467 |
| Investment Expenses |
803,984 |
| Charitable
administrative expenses |
628,719 |
| Federal excise and
income taxes |
170,906 |
| Total expenses |
4,028,076 |
|
|
| CHANGE IN NET ASSETS |
$13,005,229 |
|
|
|
|
| UNRESTRICTED NET
ASSETS: BEGINNING OF YEAR |
49,014,959 |
|
|
| END OF YEAR |
$62,020,188 |
|
=========== |
|
|
|
|
|
|
|
| ASSETS: |
|
| Cash and
cash equivalents |
$
6,007,706 |
| Investments in
securities |
53,013,893 |
| Interest
sales receivable |
483,318 |
| Interest
receivable |
39,952 |
| Prepaid
expenses |
63,456 |
| Investment in
mortgage note receivable |
1,191,587 |
| Property and
equipment - net |
3,498,082 |
| Total
assets |
$64,298,048 |
|
=========== |
| LIABILITIES AND NET
ASSETS: |
|
| Accounts
payable |
$
162,858 |
| Accrued liabilities
|
74,465 |
| Investment purchases
payable |
279,850 |
| Ranch 4 option
proceeds |
100,000 |
| Deferred federal
excise taxes |
277,879 |
| Deferred federal
income taxes |
255,335 |
| Grants payable - net |
1,127,473 |
| Total
liabilities |
$
2,277,860 |
|
| NET ASSETS -
Unrestricted |
62,020,188 |
| TOTAL |
$64,298,048 |
|
=========== |
|
The financial statements shown
in this Annual Report have been summarized by
the Foundation from its audited financial
statements for the year ended 2/28/06. A copy of
the complete audited financial statements is
available for inspection at the Harden
Foundation office, 1636 Ercia Street, Salinas,
CA 93906 |
|
|
|
|
