NET ASSETS

 

	Market Value	Carrying Value
Cash and cash equivalents	$       846,350	$        846,350
Marketable Securities	142,075,963	129,423,706
Real estate and minerals	1,302,980	268,950
Minerals	7,365,770	760,814
Paintings	19,340	19,340
Other assets	14,631	14,631
	______________	______________
	$ 151,625,034	$  131,333,791
	===========	===========

 

CORPUS

 

July 1, 2010		$  135,250,190
ADD:
Interest and dividends	$   3,299,539
Royalties	649,399
Capital Gain	507,816
Other	192,048	$     4,648,802
	_______________
DEDUCT:
Grants	$   6,952,858	**
Administrative expenses	1,511,934
Production and ad valorem taxes	100,409
		$    8,565,201
		_________________
June 30, 2011		$ 131,333,791
Adjustment to fair market value		20,291,243
		_________________
June 30, 2011		$ 151,625,034
		=============
**Minimum distributable amount pursuant to the Internal Revenue Code is $7,236,761.