D.C. The Foundation was established in 1952. The Foundation also supports projects concerned with domestic social change. The accompanying financial statements have been prepared on the accrual basis of accounting.
Cash Cash represents demand deposits on hand at financial institutions.
Furniture and Equipment Furniture and equipment are carried at cost and are being depreciated on a straight-line basis over the estimated useful lives of the assets. When assets are retired or sold, the related cost and accumulated depreciation are removed from the accounts, and any gain or loss arising from such disposition is included in the statement of activities. Grants Grant awards are disbursed to organizations upon approval of the Board, and subsequent notification to the trustee. The Foundation records grants payable upon approval and fulfillment of conditions, if applicable. Investment Securities Investment securities are carried at fair value.