The accounting firm Stowe & Degon has examined the books and records of the George I. Alden Trust “in accordance with generally accepted auditing standards” as of December 31, 2010. Stowe & Degon noted in their accompanying statement that it is the Trust’s policy to prepare its financial statement on the basis of cash receipts and disbursements except that investments are carried at market value. With this background we present below highlights of the Trust’s basic financial statements.
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Statements of Assets, Liabilities and Net Assets - Cash Basis
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Market Value
In thousands
December 31, |
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| Assets |
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| Cash and Other |
$2,625
|
$80
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| Investments |
162,378
|
150,003
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| Total Assets |
$165,003 |
$150,083 |
| Net Assets |
|
|
| Unrestricted |
$163,003 |
$148,083 |
| Permanently Restricted |
2,000 |
2,000 |
| Total Net Assets |
$165,003 |
$150,083 |
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Statements of Revenues, Expenses, and Changes in Unrestricted Net Assets - Cash Basis
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| Revenues |
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Dividends
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$3,491 |
$3,032 |
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Interest
|
458 |
587 |
Net realized and unrealized gains (losses)
on investments
|
18,577 |
36,130
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| Total Revenues |
$22,526
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$39,749
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| Expenses |
|
|
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Charitable Contributions
|
$6,566 |
$5,734 |
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Federal Excise Tax
|
153 |
140 |
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Other
|
887 |
823 |
| Total Expenses |
$7,606
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$6,697
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| Change in Unrestricted Net Assets |
14,920 |
33,052 |
Unrestricted Net Assets
Beginning of Year |
148,083 |
115,031 |
| Unrestricted Net Assets End of Year |
$163,003
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$148,083
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George I. Alden Trust
370 Main Street, 11th Floor
Worcester, Massachusetts 01608
Phone: (508) 459-8005
Fax : (508) 459-8305
trustees@aldentrust.org
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