|
FINANCIAL STATEMENT
|
| Assets |
|
| Cash and cash equivalents |
$19,424,605 |
| Investments |
151,666,519 |
| Beneficial interest in trust |
12,546,902 |
| Receivables |
21,693,887 |
| Inventories |
429,755 |
| Prepaid expenses |
55,682 |
| Property, plant, and equipment (net of depreciation) |
26,651,653 |
| | |
Total Assets |
$232,469,003 |
| Liabilities and Net Assets |
|
|
| Payables |
$5,383,062 |
|
| Unearned income |
121,661 |
|
| Bonds payable |
11,425,000 |
$16,929,723 |
| Net assets |
|
|
| Unrestricted Board-designated endowment |
78,873,189 |
|
| Unrestricted Property, plant, equipment |
24,469,786 |
|
| Unrestricted Art acquisitions |
1,072,155 |
|
| Unrestricted Operations |
183,236 |
104,598,366 |
| Temporarily restricted |
|
48,386,725 |
| Permanently restricted |
|
62,554,189 |
| | | |
Total Liabilities and Net Assets |
|
$232,469,003 |
The condensed statement of operations and the condensed statement of financial position are derived from the financial statements of the Walker Art Center as of June 30, 2003, which have been audited by Ernst & Young LLP. The statement of operations does not include receipts and disburse-ments of funds for the acquisition of works of art, and the statement of financial position does not include the value of the museum’s collection. A complete set of the Walker’s audited financial statements for 2002–2003 is available upon request. Ann Bitter, Deputy Director and COO |
