Annual Report 2007 Short Financial Report


March, 2008

(full, audited financial report available soon)

COMBINED STATEMENT OF FINANCIAL POSITION (in millions)

December 31, 2007, and 2006

ASSETS                                                                          2007     2006

Cash and cash equivalents                                             $12.2       3.0

Investments                                                                  323.7    327.9

Receivables and prepaid expenses                                 2.1        1.8

"Leasehold improvements, net of

   accumulated amortization of

   $1.6 (2007) and $1.3 (2006)                                      1.5        1.8

        Total Assets                                                           339.5    334.5

 

LIABILITIES AND NET ASSETS      

Liabilities:

Accounts payable and accrued expenses                    1.9        1.0

Unpaid grant awards                                                    25.6      28.2

Deferred liabilities                                                          2.2        2.3

Postretirement benefit obligation                                2.0        1.8

        Total liabilities                                                        31.7      33.3

 

Unrestricted net assets                                             307.7    $301.2

 

COMBINED STATEMENT OF ACTIVITIES (in millions)

Years ended December 31, 2007, and 2006

                                                                                        2007     2006

Net investment income                                                 $35.5    43.7

 

Expenses:                                                                                            

            Grant awards                                                        15.8      16.1

            Direct charitable activities                                9.8        9.5

            General administration                                      2.9        3.2

            Provision for taxes                                               0.4        0.6

                       Total expenses                                         28.9      29.4

                                                                                               

Excess of income over expenses                                    6.6        14.3

 

Unrestricted net assets, beginning of year                301.2    286.9

 

Unrestricted net assets, end of year                         $307.8  301.2

 

Note:  These financial highlights are from the Foundation's December 31, 2007, and 2006 financial statements, including the Dana Alliance for Brain Initiatives. Because the information does not include all disclosures required by generally accepted US accounting principles, they do not purport to present the Foundation's financial condition or results of operations.