| |
|
| For the year ended December 31,
2000 and 1999 (in thousands) |
2000
|
1999
|
|
| Investment income |
$ 152,047
|
$ 144,241
|
| Less:
Federal and state tax |
1,893
|
1,225
|
| Investment
expense |
27,626
|
21,288
|
| |
|
| |
122,528
|
121,728
|
| Contribution income |
2,310
|
1,256
|
| |
|
| |
124,838
|
122,984
|
| |
|
| Program costs and administrative
expenses: |
|
|
| Grants,
net |
298,978
|
375,481
|
| Program
contracts and related activities |
42,494
|
30,455
|
| Program
development and evaluation |
22,543
|
18,772
|
| General
administration |
19,332
|
10,852
|
| |
|
| |
383,347
|
435,560
|
| |
|
| Excess
of program costs and expenses over income |
(258,509)
|
(312,576)
|
| Other changes to net assets,
net of related federal excise tax: |
|
|
| Realized
gains on sale of securities |
804,746
|
502,316
|
| Unrealized
(depreciation) appreciation on investments |
(331,058)
|
568,472
|
| |
|
| |
473,688
|
1,070,788
|
| |
|
| Change in net assets—unrestricted |
215,179
|
758,212
|
| Net assets, beginning of year—unrestricted |
8,049,274
|
7,291,062
|
|
| Net assets, end of year—unrestricted |
$ 8,264,453
|
$ 8,049,274
|
|
| See notes
to financial statements. |
© Copyright 2002 The Robert Wood Johnson Foundation.
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