- 7 -
from funds provided by petitioner. During 1996, 24
participants received a 40-percent grant and 5 received a
50-percent grant, for a total of 29 participants who
received funds from petitioner totaling $15,967.
Petitioner later supplemented its Form 1023 upon
respondent's request for certain additional information.
Set out below is the statement of revenue and expenses
that petitioner submitted as part of its Form 1023, as
supplemented:
Statement of 1/1/99–
revenue and expenses 1996 1997 1998 7/31/99 Total
Gross investment income $27,455 $26,750 $36,255 $20,347 $110,807
Other income, "partnerships" -0- -0- (241) -0- (241)
Total 27,455 26,750 36,01420,347 110,566
Gain or loss from sale
of capital assets 18,042 (7,954) 150,682210,635 371,405
Total revenue 45,497 18,796 186,696 230,982 481,971
Contributions, gifts, grants,
& similar amounts paid
Keswick 20,291 23,585 25,631 19,114
Bedford 2,536 2,948 3,2042,389
Parklane 2,536 2,948 3,2042,389
Compensation of officers,
directors, & trustees 3,365 3,720 4,23610,151
Other expenses
Accounting 1,000 1,000 1,0001,200
Publications 85 89 100 104
Bank charges 10 114 74 -0-
Total expenses 29,823 34,404 37,44935,347
Excess of revenue
over expenses 15,674 (15,608) 149,247 195,635
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