25 As of As of June 30, 2017 June 30, 2016 Assets Cash $ 4,115,893 $ 419,376 Investments 284,416,298 265,469,644 Total Assets $ 288,532,191 $ 265,889,020 Liabilities Accrued Liabilities $ 193,609 $ 317,992 Grants Payable 8,846,366 5,928,275 Deferred Federal Excise Taxes 228,868 - Total Liabilities $ 9,268,843 $ 6,246,267 Net Assets Beginning of Year Balance $ 259,642,753 $ 276,985,718 Additions/(Reductions) 19,620,595 (17,342,965) Total Net Assets $ 279,263,348 $ 259,642,753 Total Liabilities and Net Assets $ 288,532,191 $ 265,889,020 Financial Statements