Financial Statement

The Gelvin Foundation, Inc.

Statement of Assets, Liabilities and Net Assets
Modified Cash Basis

For the Year Ended December 31, 2016

ASSETS

Current Assets
Cash 193,586
Investments in Marketable Securities 7,309,779
Certificates of Deposit 1,911,381
Total Current Assets $9,414,728
Property and Equipment, At Cost
Furniture and Fixtures 1,495
Accumulated Depreciation -1,495
Total property and Equipment, Net 0
Total Assets $9,414,728

LIABILITIES AND NET ASSETS

Current Liabilities
Accounts Payable 135
Total Liabilities 135
Total Net Assets – Unrestricted 9,414,593
Total Liabilities and Net Assets $9,414,728

The Gelvin Foundation, Inc.

Statement of Revenues, Expenses and Changes In Net Assets
Modified Cash Basis

For the Year Ended December 31, 2016

Revenues

Interest Income 25,949
Income From Investments 112,034
Capital Gains (Loss) 414,343
Net Unrealized Investment Gain 209,349
Total Revenues $761,675

Expenses

Management and Professional Fees 66,990
Taxes and Licenses 31
Office Expense 4,434
Utilities 1,168
Insurance 838
Federal Excise Tax 5,335
Charitable Donations 390,000
Depreciation 0
Total Expenses and Taxes $468,796
Change in Net Assets 292,969
Net Assets, Beginning of Year 9,121,264
Net Assets, End of Year $9,414,593