STATEMENT OF NET ASSETS — Modified Cash Basis
December 31, 2006 and 2005

2006

2005

Assets

Cash and cash equivalents

$1,202,204

$3,314,296

Investments

200,182,971

169,296,783

Furniture, equipment and leasehold improvements

272,584

216,708

Other assets

1,061

30,643

Unrestricted net assets

221,801,817

189,858,430

 

Note: The notes that accompany the financial report are an integral part of the financial statements and are required for a full presentation. While they are not included here, a full copy of the audited financial statements, including the notes, is available upon request.