Financials
The Faith Weavers Endowment Fund has been active this year. The initial amount of $181,277 received from the Diocese of Saginaw has been invested in mutual fund securities and the balance has grown to $207, 063 on September 30, 2009. The Board of Trustees has authorized grants of $10,500 in December of 2008 and another $9,000 in July of 2009. The total $19,500 has been distributed to charitable organizations this year. Here is a financial report for the Endowment Fund for this year:
Faith Weavers Endowment Fund
Statement of Income and Expenditures
For the Nine Months Ending September 30, 2009
Contributions |
$ 50 |
Appreciation in Market Value |
$41,335 |
Dividends |
$3,551 |
Total Contributions, Appreciation and Dividends |
$45,335 |
Grants |
$19,500 |
Expenditures |
$49 |
Total Grants and Expenditures |
$19,549 |
Net Increase in Fund Balance |
$25,785 |
Beginning Fund Balance |
$181,277 |
Ending Fund Balance |
$207,063 |
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