Financial Statement

The Gelvin Foundation, Inc.

Statement of Assets, Liabilities and Net Assets
Modified Cash Basis

For the Year Ended December 31, 2017

ASSETS

Current Assets
Cash 153,729
Investments in Marketable Securities 7,818,168
Certificates of Deposit 2,295,683
Total Current Assets $10,267,580
Property and Equipment, At Cost
Furniture and Fixtures 1,495
Accumulated Depreciation -1,495
Total property and Equipment, Net 0
Total Assets $10,267,580

LIABILITIES AND NET ASSETS

Current Liabilities
Accounts Payable 7,804
Total Liabilities 7,804
Total Net Assets – Unrestricted 10,259,776
Total Liabilities and Net Assets $10,267,580

The Gelvin Foundation, Inc.

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

For the Year Ended December 31, 2017

Revenues

Interest Income 29,739
Income From Investments 102,692
Capital Gains (Loss) 562,382
Net Unrealized Investment Gain 626,626
Total Revenues $1,321,439

Expenses

Management and Professional Fees 64,667
Taxes and Licenses 2
Office Expense 4,594
Utilities 1,178
Insurance 761
Federal Excise Tax 13,404
Charitable Donations 391,650
Depreciation 0
Total Expenses and Taxes $476,256
Change in Net Assets 845,183
Net Assets, Beginning of Year 9,414,593
Net Assets, End of Year $10,259,776