| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 41,223 | 41,223 |
| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|---|---|---|---|---|---|---|---|---|
| Website Development | 2020-07-31 | 795,192 | 182,538 | SL | 5.0 | 104,232 | |||
| Website Design | 2020-07-31 | 17,397 | 7,828 | SL | 5.0 | 2,769 | |||
| Gallery Systems Website | 2020-07-31 | 7,500 | 3,375 | SL | 5.0 | 1,194 | |||
| Synology RS819 Rack Mount | 2020-07-31 | 1,916 | 864 | SL | 5.0 | 303 | |||
| Salesforce | 2021-09-30 | 60,000 | 13,000 | SL | 5.0 | 10,774 | |||
| Computer Equipment | 2020-07-31 | 5,985 | 2,693 | SL | 5.0 | 1,179 | |||
| AV Equp New Server | 2020-07-31 | 2,824 | 1,271 | SL | 5.0 | 556 | |||
| LAPTOP | 2020-07-31 | 2,595 | 0 | SL | 5.0 | 551 | |||
| SOFTWARE DEVELOPMENT | 2023-06-12 | 5,850 | 0 | SL | 5.0 | 390 | |||
| SOFTWARE DEVELOPMENT | 2023-07-05 | 6,240 | 0 | SL | 5.0 | 312 | |||
| SOFTWARE Development | 2023-08-08 | 14,757 | 0 | SL | 5.0 | 491 | |||
| SOFTWARE DEVELOPMENT | 2023-09-08 | 8,093 | 0 | SL | 5.0 | 135 |
| Name | Date Acquired | How Acquired | Date Sold | Purchaser Name | Gross Sales Price | Basis | Basis Method | Sales Expenses | Total (net) | Accumulated Depreciation |
|---|---|---|---|---|---|---|---|---|---|---|
| NORTHERN TRUST - ENDOWMENT | P | 86,100,276 | 88,357,836 | -2,257,560 | ||||||
| NORTHERN TRUST - EQUITIZATION | 2022-10 | P | 2023-09 | 9,533,360 | 9,533,437 | -77 | ||||
| NORTHERN TRUST - EQUITIZATION | 2022-10 | P | 2023-09 | 4,449,111 | 0 | 4,449,111 | ||||
| NORTHERN TRUST - EQUITIZATION | P | 6,673,666 | 0 | 6,673,666 | ||||||
| NORTHERN TRUST - R1000 | 2022-10 | P | 2023-09 | 8,100,147 | 8,084,346 | 15,801 | ||||
| NORTHERN TRUST - R1000 | P | 70,147,734 | 61,219,632 | 8,928,102 | ||||||
| NORTHERN TRUST - R1000 | P | 14,191 | 14,191 | |||||||
| NORTHERN TRUST - WALTER SCOTT | 2022-10 | P | 2023-09 | 151,908 | 159,999 | -8,091 | ||||
| NORTHERN TRUST - WALTER SCOTT | P | 6,280,739 | 5,811,243 | 469,496 | ||||||
| PASS-THROUGH GAIN/LOSS | P | 1,596,643 | 0 | 1,596,643 | ||||||
| PASS-THROUGH GAIN/LOSS | 2022-10 | P | 2023-09 | 0 | 13,860,173 | -13,860,173 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| ASC, LLC | AT COST | 85,000 | 85,000 |
| Northern Trust Managed Income Accounts | AT COST | 860,814,813 | 990,962,232 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| WEBSITE DEVELOPMENT | 795,192 | 286,770 | 508,422 | 508,422 |
| WEBSITE DESIGN | 17,397 | 10,597 | 6,800 | 6,800 |
| GALLERY SYSTEMS WEBSITE | 7,500 | 4,569 | 2,931 | 2,931 |
| SYNOLOGY RS819 RACK MOUNT | 1,916 | 1,167 | 749 | 749 |
| SALESFORCE | 60,000 | 23,774 | 36,226 | 36,226 |
| COMPUTER EQUIPMENT | 5,985 | 3,872 | 2,113 | 2,113 |
| AV EQUIP NEW SERVER | 2,824 | 1,827 | 997 | 997 |
| LAPTOP | 2,595 | 551 | 2,044 | 2,044 |
| SOFTWARE DEVELOPMENT | 5,850 | 390 | 5,460 | 5,460 |
| SOFTWARE DEVELOPMENT | 6,240 | 312 | 5,928 | 5,928 |
| SOFTWARE DEVELOPMENT | 14,757 | 491 | 14,266 | 14,266 |
| SOFTWARE DEVELOPMENT | 8,093 | 135 | 7,958 | 7,958 |
| CONSTRUCTION IN PROGRESS | 15,312 | 0 | 15,312 | 15,312 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Legal fees | 52,126 | 52,126 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ART ACQUISITION EXPENSE | 53,959,519 | 53,959,519 | ||
| AWARDS | 47,894,867 | 47,894,867 | ||
| EXHIBITION SUPPORT COSTS | 782,396 | 142,183 | 640,213 | |
| TECHNOLOGY EXPENSE | 373,393 | 373,393 | ||
| EVALUATION | 365,170 | 365,170 | ||
| INSURANCE | 209,511 | 209,511 | ||
| ADVERTISING/PROMOTION | 62,915 | 62,915 | ||
| RECRUITING EXPENSE | 57,745 | 57,745 | ||
| PROFESSIONAL DEVELOPMENT | 28,572 | 28,572 | ||
| SUPPLIES | 23,028 | 23,028 | ||
| EVENT EXPENSE | 16,711 | 16,711 | ||
| Pass-through - Other Deductions | 4,014,820 | 4,014,820 | 4,014,820 | |
| Pass-through - Nondeductible Expenses | 3,178 | |||
| PUBLIC RELATIONS | 52,500 | 52,500 | ||
| INTERNSHIP PROGRAM | 47,052 | 47,052 | ||
| REPAIRS AND MAINTENANCE | 11,645 | 11,645 | ||
| MEMBERSHIPS, DUES AND SUBSCRIPTIONS | 8,748 | 8,748 | ||
| MISCELLANEOUS | 1,912 | 1,912 | ||
| EDUCATION PROGRAM COSTS | 95,277 | 95,277 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| Exhibition & Loan Fees | 142,183 | 142,183 | |
| Northern Trust | -7,138 | -7,138 | -7,138 |
| Pass-through - Other income/(loss) | -432,525 | -96,948 | -432,525 |
| Description | Amount |
|---|---|
| BOOK/TAX DIFFERENCES IN INVESTMENTS | 17,768,401 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ADMINISTRATOR & MANAGEMENT FEE | 3,555,928 | 3,555,928 | ||
| INVESTMENT MANAGEMENT FEES | 1,489,791 | 1,489,791 | 1,489,791 | |
| HONORARIUM | 3,400 | 3,400 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| EXCISE TAX | 952,006 | |||
| NORTHERN TRUST - FOREIGN TAXES | 269,395 | 269,395 | 269,395 | |
| PASS-THROUGH - FOREIGN TAXES | 39,235 | 39,235 | 39,235 |