Statments of Financial Position
| 2008 | 2007 | |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $233,805 | $164,501 |
| Cash equivalents held as collateral | 107,190 | 260,583 |
| Investments at fair value | ||
| Johnson & Johnson common stock | 949,987 | 2,824,311 |
| Other equity investments | 5,600,135 | 6,520,344 |
| Fixed income investments | 504,353 | 831,734 |
| Program related investments | 12,003 | 9,412 |
| Receivable on pending securities transactions | 8,085 | 31,969 |
| Interest and dividends receivable | 4,217 | 9,606 |
| Contributions receivable | 8,902 | 12,481 |
| Other assets | 76,677 | 57,355 |
Total assets
| $7,505,354 |
$10,722,296 |
|
| Liabilities and Net Assets | ||
| Liabilities | ||
| Accounts payable and accrued expenses | $9,521 | $12,128 |
| Payable under securities loan agreement | 107,190 | 260,583 |
| Payable on pending securities transactions | 6,406 | 45,895 |
| Unpaid grants | 545,305 | 486,123 |
| Deferred federal excise tax | – | 76,290 |
| Accrued postretirement benefit obligation | 27,789 | 24,810 |
| Total liabilities | 696,211 | 905,829 |
| Net assets | ||
| Unrestricted | 6,800,241 | 9,803,986 |
| Temporarily restricted | 8,902 | 12,481 |
| Total net assets | 6,809,143 | 9,816,467 |
| Total liabilities and net assets | $7,505,354 | $10,722,296 |
The accompanying notes are an integral part of these financial statements.