2024-05-06T19:04:58-05:00 2023-06-30 BDO USA 421 Fayetteville Street Suite 300 Raleigh NC 27601 990 2022-07-01 540534105 Sweet Briar Institute % PETER H BRYAN SWEE 4343816325 PO Box 1051 Sweet Briar VA 245951051 PETER H BRYAN VP FOR FINANCE/OPERA 4343816325 2024-05-01 true PETER H BRYAN 999009999 Linda Thomas P00665337 9192781936 2024-05-01 2 2022 2023-04-26 12:10:37Z MARY POPE MAYBANK HUTSON PO Box 1051 Sweet Briar VA 245951051 57758617 false X www.sbc.edu X 1901 VA SEE SCHEDULE O 19 18 584 1000 638807 0 20303217 23994834 16432008 17200209 3558025 1129306 1517532 1606815 41810782 43931164 6203774 6804173 0 0 15044417 16808711 0 0 3082283 15693439 16828192 36941630 40441076 4869152 3490088 140120255 146650608 13880207 11631972 126240048 135018636 X SEE SCHEDULE O false false 16563458 0 3342699 INSTRUCTION: TO PROVIDE A LIBERAL ARTS EDUCATION FOR ALL STUDENTS. BENEFITS APPROXIMATELY 474 STUDENTS. 6068208 0 7634906 AUXILIARY ENTERPRISES: TO PROVIDE STUDENTS WITH HOUSING, FOOD SERVICES, RECREATION AND INSTRUCTIONAL MATERIALS. BENEFITS APPROXIMATELY 474 STUDENTS. 6804173 6804173 6804173 SCHOLARSHIPS: TO PROVIDE SCHOLARSHIPS TO STUDENTS WITH BOTH FINANCIAL NEED AS WELL AS ACADEMIC EXCELLENCE. BENEFITS APPROXIMATELY 474 STUDENTS. 29435839 true true false false false false false true false true true false false true true true true false true false true false true false false false false false true true true false false false false false false false false false false true false false false false false false false false true 193 0 true 584 true true true false false false false false false false false false false false X 19 18 false false false false false false false true true false false true true true true true true true true false AK CO DC MD MI MT NV NH NY SC WA X PETER H BRYAN 4343816325 PO BOX 1051 SWEET BRIAR VA 245951051 X DR MEREDITH WOO PRESIDENT 40.0 0.0 X X 396966 0 23976 MARY POPE HUTSON SVP ALUMNAE RELATIONS & DEV. 40.0 0.0 X 248570 0 17976 LUTHER GRIFFITH VP FINANCE, OPERATIONS & AUX 40.0 0.0 X 202286 0 8000 TERESA GARRETT VP ACADEMIC AFFAIRS & DEAN 40.0 0.0 X 157852 0 16664 JENNIFER SAUER AVP & CONTROLLER 40.0 0.0 X 144875 0 16576 LAUREL HARVEY DIR. OF STRATEGIC INITIATIVES 40.0 0.0 X 129769 0 23468 RITA DETWILER VP ENROLLMENT MANAGEMENT 40.0 0.0 X 123185 0 22088 JOHN BROWN ENGLISH&CREATIVE WRITING PROF 40.0 0.0 X 103254 0 26253 VERDA COLVIN DIRECTOR 4.0 0.0 X 0 0 0 MICHAEL ELLIOTT DIRECTOR 4.0 0.0 X 0 0 0 MARIANNE FAHS DIRECTOR 4.0 0.0 X 0 0 0 KELLEY FITZPATRICK DIRECTOR 4.0 0.0 X 0 0 0 SALLY FREEMAN DIRECTOR 4.0 0.0 X 0 0 0 ROBERT GOODLATTE DIRECTOR 4.0 0.0 X 0 0 0 LENDON GRAY DIRECTOR 4.0 0.0 X 0 0 0 FRED GRIFFIN DIRECTOR 4.0 0.0 X 0 0 0 MARTHA HOLLAND DIRECTOR 4.0 0.0 X 0 0 0 KEENAN KELSEY DIRECTOR 4.0 0.0 X 0 0 0 JOHN NAU DIRECTOR 4.0 0.0 X 0 0 0 MICHELLE O'NEILL DIRECTOR 4.0 0.0 X 0 0 0 J CHAPMAN PETERSON DIRECTOR 4.0 0.0 X 0 0 0 HOLLY PHILBIN DIRECTOR 4.0 0.0 X 0 0 0 MASON RUMMEL DIRECTOR 4.0 0.0 X 0 0 0 STEPHEN SMILEY DIRECTOR 4.0 0.0 X 0 0 0 NORMA VALENTINE DIRECTOR 4.0 0.0 X 0 0 0 CLAUDE WASSERSTEIN DIRECTOR 4.0 0.0 X 0 0 0 1506757 0 155001 8 false true false Meriwether-Godsey 4944 Old Boonsboro Road LYNCHBURG VA 24503 FOOD SERVICES 2352144 Campbell Insurance po box 677 LYNCHBURG VA 24505 insurance 455808 Marist College 3399 North Road POUGHKEEPSIE NY 12601 Outsourced Tech. 244564 Encoura LLC PO Box 414812 KANSAS CITY MO 64141 Enrollment Consult. 220844 Tinder Cattle Vineyard 5960 Markwood Road EARLYSVILLE VA 22936 Vineyard Services 165605 11 430717 23564117 2758849 23994834 TUITION AND FEES 611710 10924433 10924433 STUDENT SERVICES 611710 6254440 6254440 SALES & SERVICES 611710 21336 21336 17200209 460550 460550 0 0 498474 112035 386439 0 386439 386439 14384174 13715418 668756 668756 668756 0 0 0 0 0 0 0 0 0 ELSTON INN 721110 414295 414295 ADDITIONAL AUXILIARY 611710 411334 243184 168150 CELL TOWER 517000 56362 56362 338385 338385 1220376 43931164 17781778 638807 1515745 0 5689407 5689407 1114766 1114766 0 1631873 210834 994728 426311 0 12143641 8856665 2300883 986093 474889 364478 77288 33123 1702590 966977 514929 220684 855718 672108 128527 55083 0 144898 144898 98918 98918 0 0 12615 12615 3554700 2549497 703642 301561 459602 97838 253235 108529 634644 326540 215673 92431 615065 332135 198051 84879 0 2755417 1633037 785666 336714 1128073 869955 180683 77435 0 0 474524 474524 0 2636900 2486127 105541 45232 0 NON-CAPITAL EQUIPMENT/REPAIRS 1582890 928047 458390 196453 COST OF GOODS SOLD 1016050 1016050 SUPPLIES & PRINT 768612 608898 111800 47914 HEERF GRANT - STUDENT AWARDS 70500 70500 874784 641980 162963 69841 40441076 29435839 7922954 3082283 X 0 0 11062165 9792140 3105479 6575352 1112709 140835 0 0 0 0 1155139 938237 0 0 0 0 119828712 59750150 56597937 60078562 50239275 51133183 6370697 7259475 0 0 0 0 10476854 10732824 140120255 146650608 2755362 1844594 0 0 0 0 10364270 9430125 0 0 0 0 0 0 0 0 760575 357253 13880207 11631972 X 36180270 35902142 90059778 99116494 126240048 135018636 140120255 146650608 X 3490088 5288500 X false true X true true true X 8746439 18526668 16229858 20303217 23994834 87801016 0 0 8746439 18526668 16229858 20303217 23994834 87801016 9080559 78720457 1977863 262747 570806 846042 959024 4616482 0 2616622 3427997 1944403 702725 581569 9273316 101690814 71001841 0.77412 0.72549 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X false 68209620 1606129 5667917 1250570 2666000 1653884 69913212 78473388 3148797 -9812565 1170283 2429717 68209620 63967642 789706 16716040 975828 2024172 78473388 70456541 2825316 -3741031 2579129 2994055 63967642 74817347 865048 2996751 8222605 70456541 0.08000 0.70000 0.22000 false false 8400813 8400813 100466498 52053648 48412850 7853891 6149788 1704103 3107510 1546714 1560796 60078562 BENEFICIAL INT PERPETUAL TRUST 7841077 CONTRIBUTIONS RECEIVABLE 2069804 OTHER RECEIVABLE 821943 10732824 0 CAPITAL LEASE OBLIGATIONS 137459 ANNUITIES PAYABLE 120372 US GOV'T ADVANCES FOR STUDENT 99422 357253 X 42527526 5400535 5400535 37126991 6804173 6804173 43931164 33748938 112035 112035 33636903 6804173 6804173 40441076 SCHEDULE D, PART III, LINE 1A: THE INSTITUTE OWNS A COLLECTION OF VARIOUS OBJECTS OF ART. THESE ITEMS ARE HELD FOR PUBLIC EXHIBITION RATHER THAN FOR FINANCIAL GAIN AND ARE KEPT PROTECTED AND PRESERVED. IT IS THE INSTITUTE'S POLICY TO USE ANY PROCEEDS FROM THE SALE OF COLLECTION ITEMS TO ACQUIRE OTHER ITEMS FOR THE COLLECTION. ACCORDINGLY, THE INSTITUTE DOES NOT RECOGNIZE CONTRIBUTIONS OF WORKS OF ART, NOR ARE WORKS OF ART CAPITALIZED AND RECORDED ON THE STATEMENT OF FINANCIAL POSITION. SCHEDULE D, PART III, LINE 4: THE ART COLLECTIONS AND ANTIQUITIES SUPPORT THE EDUCATIONAL PURPOSE OF THE INSTITUTE. STUDENTS MAJORING IN ART HISTORY AND ARTS MANAGEMENT ACT AS CURATORS AND MAINTAIN THE COLLECTIONS. STUDENTS ARE INVOLVED IN COLLEGE AND COMMUNITY EXHIBITIONS. SCHEDULE D, PART V, LINE 4: THE MAJORITY OF ENDOWMENT FUNDS ARE USED TO PROVIDE STUDENT SCHOLARSHIPS AND SUPPORT FOR INSTRUCTION, RESEARCH, AND ACADEMIC PROGRAMS. SCHEDULE D, PART X, LINE 2: THE INSTITUTE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXED UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE. HOWEVER, CERTAIN INCOME UNRELATED TO ITS EXEMPT FUNCTION IS SUBJECT TO INCOME TAXATION. MANAGEMENT HAS EVALUATED THE EFFECT OF THE GUIDANCE PROVIDED FOR UNCERTAINTY IN INCOME TAXES THAT BECAME EFFECTIVE FOR THE INSTITUTE ON JULY 1, 2009. MANAGEMENT BELIEVES THAT THE INSTITUTE CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AT JUNE 30, 2023 AND 2022. MANAGEMENT HAS EVALUATED ALL TAX POSITIONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE CONSOLIDATED FINANCIAL STATEMENTS AND DETERMINED THE INSTITUTE HAD NO MATERIAL UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2023 AND 2022. SCHEDULE D, PART XI, LINE 2D: RENTAL EXPENSES $112,035 CHANGE IN SPLIT INTEREST AGREEMENTS $554,304 UNREALIZED GAIN ON PERPETUAL TRUSTS $304,992 UNREALIZED ENDOWMENT GAIN $4,429,204 TOTAL $5,400,535 SCHEDULE D, PART XI, LINE 4B: SCHOLARSHIPS $6,804,173 SCHEDULE D, PART XII, LINE 2D: RENTAL EXPENSES $112,035 SCHEDULE D, PART XII, LINE 4B: SCHOLARSHIPS $6,804,173 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 - EXPLANATION OF NONDISCRIMINATION POLICY: SWEET BRIAR COLLEGE CUSTOMARILY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS FROM LARGE GEOGRAPHICAL SECTIONS OF THE UNITED STATES AND FOREIGN COUNTRIES. THE COLLEGE FOLLOWS A RACIAL NONDISCRIMINATORY POLICY AND HAS COMPLIED WITH SECTION 4.02 OF THE INTERNAL REVENUE PROCEDURE 75-50. THE COLLEGE PUBLICIZES ITS NONDISCRIMINATORY POLICY IN ITS CATALOG. SCHEDULE E, LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID: SWEET BRIAR COLLEGE PARTICIPATES IN A VARIETY OF FEDERAL FINANCIAL AID PROGRAMS INCLUDING THE FEDERAL WORK STUDY PROGRAM, SEOG, AND THE PELL GRANT PROGRAM. THE COLLEGE ALSO RECEIVES FEDERAL GRANTS AND CONTRACTS FOR ACADEMIC PROGRAMMING AND SCIENTIFIC RESEARCH. true South Asia Program Services TUITION ASSISTANCE 652674 South America Program Services TUITION ASSISTANCE 218510 Europe (Including Iceland and Greenland) Program Services TUITION ASSISTANCE 72590 Central America and the Caribbean Program Services TUITION ASSISTANCE 43032 Middle East and North Africa Program Services TUITION ASSISTANCE 31680 Russia and the Newly Independent States Program Services TUITION ASSISTANCE 29160 East Asia and the Pacific Program Services TUITION ASSISTANCE 27120 Sub-Saharan Africa Program Services TUITION ASSISTANCE 25000 North America Program Services TUITION ASSISTANCE 15000 1114766 1114766 SCHOLARSHIPS TO FOREIGN STUDENTS South Asia 26 652674 PMT APPLIED SCHOLARSHIPS TO FOREIGN STUDENTS South America 8 218510 PMT APPLIED SCHOLARSHIPS TO FOREIGN STUDENTS Europe (Including Iceland and Greenland) 3 72590 PMT APPLIED SCHOLARSHIPS TO FOREIGN STUDENTS Central America and the Caribbean 2 43032 PMT APPLIED SCHOLARSHIPS TO FOREIGN STUDENTS Middle East and North Africa 1 31680 PMT APPLIED SCHOLARSHIPS TO FOREIGN STUDENTS Russia and the Newly Independent States 1 29160 PMT APPLIED SCHOLARSHIPS TO FOREIGN STUDENTS East Asia and the Pacific 2 27120 PMT APPLIED SCHOLARSHIPS TO FOREIGN STUDENTS Sub-Saharan Africa 1 25000 PMT APPLIED SCHOLARSHIPS TO FOREIGN STUDENTS North America 1 15000 PMT APPLIED false false false false false false SCHEDULE F, PART I, LINE 2: STUDENTS APPLY FOR SCHOLARSHIPS AND ARE AWARDED AMOUNTS THROUGH THE FINANCIAL AID PROCESS. THE FINANCIAL AID OFFICE DETERMINES THE AMOUNTS TO AWARD BASED ON CERTAIN CRITERIA AND AMOUNTS ARE DISBURSED AND POSTED TO STUDENT'S TUITION AND FEES ACCOUNT. SCHOLARSHIPS ARE CREDITED TO STUDENT TUITION ACCOUNTS AT SWEET BRIAR COLLEGE. ANY STUDENT ACCOUNT THAT HAS A CREDIT BALANCE AFTER POSTING THE SCHOLARSHIP AMOUNTS WILL BE REFUNDED BY COLLEGE CHECK. true SCHOLARSHIPS FOR STUDENTS TO ATTEND SWEET BRIAR 432 5689407 SCHEDULE I, PART I, LINE 2: INSTITUTIONAL MERIT SCHOLARSHIPS ARE AWARDED ON THE BASIS OF DEMONSTRATED ACADEMIC EXCELLENCE AND PROMISE FOR FUTURE SUCCESS AT THE COLLEGE. WHILE A NUMBER OF FACTORS ARE CONSIDERED, THE COLLEGE RELIES HEAVILY ON THE EVALUATION OF HIGH SCHOOL COURSEWORK, HIGH SCHOOL GRADE POINT AVERAGES AND CLASS RANK, STANDARDIZED TEST SCORES, WRITTEN WORK AND LETTERS OF RECOMMENDATION. EXTRACURRICULAR INVOLVEMENT THAT DEMONSTRATES A PROMISE FOR SUCCESS AT THE COLLEGIATE LEVEL IS ALSO CONSIDERED. SCHOLARSHIP AWARDS ARE APPLIED TO THE STUDENT'S ACCOUNT FOR PAYMENT TOWARD TUITION, ROOM, BOARD AND FEES. X true true X X X X false false false false false false false false false DR MEREDITH WOO PRESIDENT 376966 0 0 0 20000 0 16000 0 7976 0 420942 0 0 0 MARY POPE HUTSON SVP ALUMNAE RELATIONS & DEV. 248570 0 0 0 0 0 10000 0 7976 0 266546 0 0 0 LUTHER GRIFFITH VP FINANCE, OPERATIONS & AUX 191686 0 0 0 10600 0 8000 0 0 0 210286 0 0 0 TERESA GARRETT VP ACADEMIC AFFAIRS & DEAN 130852 0 0 0 27000 0 6500 0 10164 0 174516 0 0 0 JENNIFER SAUER AVP & CONTROLLER 135775 0 0 0 9100 0 6000 0 10576 0 161451 0 0 0 LAUREL HARVEY DIR. OF STRATEGIC INITIATIVES 125721 0 0 0 4048 0 5600 0 17868 0 153237 0 0 0 SCHEDULE J, PART 1, LINE 1A: RESIDENCE FOR PERSONAL USE: AS A CONDITION OF EMPLOYMENT, THE PRESIDENT, SVP OF ALUMNAE RELATIONS & DEVELOPMENT, AND VP FOR ACADEMIC AFFAIRS/DEAN OF THE COLLEGE ARE REQUIRED TO LIVE IN THE SCHOOL'S HOUSES LOCATED ON THE CAMPUS. THESE RESIDENCES ARE PROVIDED FOR THE CONVENIENCE OF THE SCHOOL IN HAVING THE FUNCTIONS OF THE OFFICES EFFICIENTLY DISCHARGED. THIS HOUSING ALLOWANCE IS TREATED AS A NON-TAXABLE BENEFIT. A Industrial Development Authority - Town of Amherst 546001113 031489BX4 2006-02-23 21041170 REFUNDING OF 1998A,1998B,1999-2002 false false false A 0 0 20865000 0 0 0 334871 0 0 0 0 0 2006 false true true true A false false false false 0 false false false true A false false true false false false 0 false 0 false false A false SCHEDULE K, PART II, LINE 3: THE TOTAL PROCEEDS OF ISSUE FOR THE 2006 BOND IS $176,170 LESS THAN THE ORIGINAL ISSUE PRICE DUE TO A REFUND OF THE BOND IN FISCAL YEAR 2012. X 60 2043969 AVG. TRADING VALUE X 1 69880 FMV X HORSES 8 645000 FMV 6 false true false SCHEDULE M, LINE 33: THE INSTITUTE OWNS A COLLECTION OF VARIOUS OBJECTS OF ART. THESE ITEMS ARE HELD FOR PUBLIC EXHIBITION RATHER THAN FOR FINANCIAL GAIN AND ARE KEPT PROTECTED AND PRESERVED. IT IS THE INSTITUTE'S POLICY TO USE ANY PROCEEDS FROM THE SALE OF COLLECTION ITEMS TO ACQUIRE OTHER ITEMS FOR THE COLLECTION. ACCORDINGLY, THE INSTITUTE DOES NOT RECOGNIZE CONTRIBUTIONS OF WORKS OF ART, NOR ARE WORKS OF ART CAPITALIZED AND RECORDED ON THE STATEMENTS OF FINANCIAL POSITION. FORM 990, PART I, LINE 1 AND PART III, LINE 1: SWEET BRIAR COLLEGE CHALLENGES AND INSPIRES WOMEN, FORGING ETHICAL LEADERS WITH THE SKILL, COMPASSION, AND VISION TO CREATE A MORE JUST AND SUSTAINABLE WORLD. SWEET BRIAR'S ACADEMIC PROGRAM, AT THE UNDERGRADUATE AND GRADUATE LEVELS, SEEKS TO CULTIVATE AN INCLUSIVE AND VIBRANT COMMUNITY OF LEARNING AMONG STUDENTS, FACULTY, AND STAFF THAT PRIZES ETHICAL AND INNOVATIVE THINKING. OUR CURRICULUM FOSTERS PERSONAL AND PROFESSIONAL DEVELOPMENT THROUGH A LIBERAL ARTS EDUCATION. THE FACULTY AND STAFF GUIDE STUDENTS TO UNDERSTAND HOW JUSTICE AND SUSTAINABILITY ARE CONNECTED; PROMOTE INCLUSIVITY, DIVERSITY, EQUITY, AND ACCESS; SOLVE REAL-WORLD PROBLEMS ACROSS AN ARRAY OF DISCIPLINES CONFIDENTLY AND CREATIVELY; AND DEVELOP CRITICAL ANALYTIC AND COMMUNICATION SKILLS. STUDENTS PURSUE THESE GOALS IN THE CLASSROOM, ACROSS THE CAMPUS COMMUNITY, AND AROUND THE WORLD. FORM 990, PART VI, SECTION B, LINE 11: THE 990 FORM AND REQUIRED SCHEDULES WERE REVIEWED BY MANAGEMENT PRIOR TO FILING. AN ELECTRONIC VERSION OF THE RETURN WAS MADE AVAILABLE TO THE OFFICERS AND DIRECTORS OF THE INSTITUTE PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C: OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO SUBMIT AN ANNUAL DISCLOSURE IN ACCORDANCE WITH THE SWEET BRIAR COLLEGE WRITTEN CONFLICT OF INTEREST POLICY. CONFLICT OF INTEREST FORMS ARE FILED WITH THE PRESIDENT'S OFFICE ANNUALLY AND ARE REVIEWED BY THE VP FOR FINANCE & AUXILIARY OPERATIONS AND THE BOARD'S AUDIT COMMITTEE. IN GENERAL, WHEN AN INDIVIDUAL COVERED BY THIS POLICY IS DEEMED TO BE IN A CONFLICT OF INTEREST SITUATION WITH RESPECT TO ANY MATTER BEFORE THE BOARD OR ADMINISTRATION, THAT INDIVIDUAL SHALL REFRAIN FROM PARTICIPATING IN THE CONSIDERATION OF ANY PROPOSED TRANSACTION WHICH MAY BE IMPAIRED BY THE POTENTIAL CONFLICT, UNLESS SPECIFICALLY REQUESTED TO PROVIDE INFORMATION REGARDING THE TRANSACTION IN QUESTION. SUCH PERSON SHALL NOT VOTE ON OR TAKE ANY POSITION FOR OR AGAINST THE PROPOSED TRANSACTION, NOR SHALL SHE OR HE ATTEMPT TO INFLUENCE THE VOTES OR POSITIONS OF OTHERS. WHEN DEEMED APPROPRIATE, A NOTE IN THE MINUTES OF THE MEETING SHALL SPECIFY THAT THE PERSON INVOLVED NEITHER PARTICIPATED IN CONSIDERATION OF THE PROPOSED TRANSACTION NOR VOTED ON THE MATTER. IN ALL INSTANCES WHERE A CONFLICT OF INTEREST IS DETERMINED TO EXIST, SUCH CONFLICTS, AND THEIR REMEDY, SHALL BE DISCLOSED TO THE BOARD AT LEAST ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15: COMPENSATION FOR THE PRESIDENT IS DETERMINED BY INFORMATION PROVIDED TO THE COMPENSATION COMMITTEE, IS APPROVED BY THE BOARD, AND DOCUMENTED IN A WRITTEN EMPLOYMENT CONTRACT. IN DETERMINING NEWLY HIRED EXECUTIVES' PAY, DATA IS ACQUIRED FROM SEARCH CONSULTANTS, REGIONAL SALARY SURVEYS AND GENERAL PAY RANGES THAT ARE LINKED IN GENERAL TERMS TO VARIOUS CUPA SURVEYS. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST ONLY. FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS: CHANGE IN SPLIT INTEREST AGREEMENTS $554,304 UNREALIZED GAIN ON PERPETUAL TRUSTS $304,992 UNREALIZED ENDOWMENT GAIN $4,429,204 TOTAL $5,288,500