This Treasurer's Report is the most current and was presented to the 2023 Annual Meeting of the Corporation. The finances of the Corporation are audited by the firm LM Cohen & Company CPAs.
REPORT OF THE TREASURER
FOR THE FISCAL YEAR ENDED AUGUST 31, 2022
On August 31, 2022, the book value of the net assets of the Corporation was $24.852,083.
During the year ended August 31, 2022, $407,200 was paid to annuitants in November 2022, and one first payment of $3000.
PAID TO ANNUITANTS
54 - Fixed annuities at $300 $ 16,200.00
54 - Dividends at $7,000 367,000.00
3 - Minor Children at $7000 21,000.00
First payment 3,000.00
$ 407,200.00
CONTRIBUTORS
187 Contributors’ payments received for FY 2021-2022 $ 3,269.00
10 New Contributors' payments received for FY 2021-2022 180.00
Total $ 3,449.00
STATEMENT OF SUPPORT, REVENUE, EXPENSES AND CHANGES IN NET ASSETS – CASH BASIS
2022
UNRESTRICTED NET ASSETS
UNRESTICTED SUPPORT AND REVENUE
Contributions $ 3,449.00
Interest 97,048.00
Dividends 294,732.00
Net realized/change in unrealized gains on investments (4,292,707.00)
Total Unrestricted Revenues and gains $ (3,897,478.00)
EXPENSES
Program Services
Dividends Paid $ 388,000.00
Annuities Paid 16,200.00
Special Payments 3,000.00
Total Program Services 407,200.00
Supporting Services
Investment Advisory Fees 156,603.00
Independent Auditor Fees 0.00
Directors and Officers Insurance 7,081.00
Bank Fees 1,000.00
Bookkeeping 1774.00
Annual Meeting 0.00
Office Supplies & Postage 1,409.00
Total Management and General 167,867.00
Total Expenses 575,067.00
Change in Unrestricted Net Assets (4,472,545.00)
Net Assets – Beginning 29.324/628.00
Net Assets – Ending 24.852.083.00
STATEMENT OF ASSETS & NET ASSETS --- CASH BASIS
ASSETS 2022 2021
Cash & Cash Equivalents 306,071 244,632
Investments, at Cost 24,546,012 29,080,867
Total Assets 24,852,083 29,325,499
LIABILITIES
Due to broker 0.00 0.00
Accounts payable 0.00 871.00
NET ASSETS
Unrestricted 24,852,093 29,324,628
Total Liabilities and
Net assets 24,852,093 29,325,499
REPORT OF THE TREASURER
FOR THE FISCAL YEAR ENDED AUGUST 31, 2022
On August 31, 2022, the book value of the net assets of the Corporation was $24.852,083.
During the year ended August 31, 2022, $407,200 was paid to annuitants in November 2022, and one first payment of $3000.
PAID TO ANNUITANTS
54 - Fixed annuities at $300 $ 16,200.00
54 - Dividends at $7,000 367,000.00
3 - Minor Children at $7000 21,000.00
First payment 3,000.00
$ 407,200.00
CONTRIBUTORS
187 Contributors’ payments received for FY 2021-2022 $ 3,269.00
10 New Contributors' payments received for FY 2021-2022 180.00
Total $ 3,449.00
STATEMENT OF SUPPORT, REVENUE, EXPENSES AND CHANGES IN NET ASSETS – CASH BASIS
2022
UNRESTRICTED NET ASSETS
UNRESTICTED SUPPORT AND REVENUE
Contributions $ 3,449.00
Interest 97,048.00
Dividends 294,732.00
Net realized/change in unrealized gains on investments (4,292,707.00)
Total Unrestricted Revenues and gains $ (3,897,478.00)
EXPENSES
Program Services
Dividends Paid $ 388,000.00
Annuities Paid 16,200.00
Special Payments 3,000.00
Total Program Services 407,200.00
Supporting Services
Investment Advisory Fees 156,603.00
Independent Auditor Fees 0.00
Directors and Officers Insurance 7,081.00
Bank Fees 1,000.00
Bookkeeping 1774.00
Annual Meeting 0.00
Office Supplies & Postage 1,409.00
Total Management and General 167,867.00
Total Expenses 575,067.00
Change in Unrestricted Net Assets (4,472,545.00)
Net Assets – Beginning 29.324/628.00
Net Assets – Ending 24.852.083.00
STATEMENT OF ASSETS & NET ASSETS --- CASH BASIS
ASSETS 2022 2021
Cash & Cash Equivalents 306,071 244,632
Investments, at Cost 24,546,012 29,080,867
Total Assets 24,852,083 29,325,499
LIABILITIES
Due to broker 0.00 0.00
Accounts payable 0.00 871.00
NET ASSETS
Unrestricted 24,852,093 29,324,628
Total Liabilities and
Net assets 24,852,093 29,325,499