Statements of Activities
For the Years Ended April 30, 2000 and 2001



CHANGES IN UNRESTRICTED NET ASSETS


2000


2001
Support and revenue    
Losses (realized and unrealized)
$ 159,903
$ 76,310
Net assets released from restrictions
(18,837)
(93,761)
Total support and revenue
1,230,359
1,806,875
Expenses and losses:
1,371,425
1,789,424
Distributions to beneficiaries
972,730
1,389,464
Operating expenses
111,378
160,192
Investment advisory fees
156,738
147,409
Oil & gas transfer to endowment*
241,583
374,134
Other
0
5,123
Total expenses and losses
1,482,429
2,076,322
Net change in unrestricted net assets
(111,004)
(286,898)
     
CHANGES IN TEMPORARILY RESTRICTED NET ASSETS    
Total support and revenue
$ 1,226,150
$1,803,222
Losses (realized and unrealized)
(73,082)
(398,82 )
Net assets released from restrictions
(1,104,431)
(1,718,559)
Reclassifications
0
105,847
Net change in temporarily restricted net assets
48,637
(208,317)
     
CHANGES IN PERMANENTLY RESTRICTED NET ASSETS    
Total support and revenue
$ 5,114,685
1,430,913
Expenses and Losses
(220,022)
(1,524,111)
Net assets released from restrictions
(125,929)
(108,316)
Reclassifications
0
(85,847)
Net change in permanently restricted net assets
4,768,734
(287,361)
TOTAL CHANGE IN NET ASSETS
4,706,367
(782,576)
     
Net assets, beginning of year
23,297,931
28,004,298
NET ASSETS, END OF YEAR
$28,004,298
$27,221,722


*(The Foundation transfers fifty percent of royalties earned during the year from temporarily restricted net assets to permanently restricted. The transfer is intended to approximate the decrease in mineral production over time.)


Texas A&M-Corpus Christi Foundation • Annual Report 2001