NYCT 2004 AR Cover - The New York Community Trust
NYCT 2004 AR Cover - The New York Community Trust
NYCT 2004 AR Cover - The New York Community Trust
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30<br />
FINANCIAL STATEMENTS<br />
Consolidated Statements of Financial Position<br />
December 31, 2008 2007<br />
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ASSETS<br />
Cash and cash equivalents $ 33,705,925 $ 61,887,775<br />
Investments (note 3) 1,491,968,108 2,066,329,336<br />
Receivables 1,804,042 2,463,666<br />
Pension asset (note 4) — 2,340,380<br />
Fixed assets, net 2,389,736 2,669,866<br />
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Total assets $ 1,529,867,811 $ 2,135,691,023<br />
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————————— —————————<br />
LIABILITIES AND NET ASSETS<br />
Liabilities:<br />
Accounts payable $ 556,669 $ 534,155<br />
Grants payable 38,348,137 35,982,319<br />
Deferred rent credits (note 5) 2,813,291 2,857,648<br />
Pension liability (note 4) 2,705,909 —<br />
Accrued postretirement benefit obligation (note 4) 2,617,039 2,440,927<br />
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Total liabilities 47,041,045 41,815,049<br />
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Net assets:<br />
Unrestricted:<br />
Endowment 1,429,833,670 2,030,947,358<br />
Available for grants 50,114,690 55,827,774<br />
Available for administration 2,878,406 7,100,842<br />
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Total net assets 1,482,826,766 2,093,875,974<br />
————————— —————————<br />
Total liabilities and net assets $ 1,529,867,811 $ 2,135,691,023<br />
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See accompanying notes to consolidated financial statements.