the  m p w c Foundation,  inc. 

how to do it
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2014 NOTE - with changes caused by the Andy Blair tragedy (see Shocker) as well as SMA grantees' resultant reduced compliance with our Transparency and Continuity requirements, it now appears that we will NOT be making perpetual distributions to SMA grantees that require any future reporting.  Instead we expect to issue one-time cash grants in accordance with the explanations on our allocations webpage.   As a result, some if not all of the below information may now be no longer applicable.

Below are EXAMPLES of how to handle sales, purchases, splits, dividends paid in extra shares, merger changes, etc., etc., etc.  Adapt these examples to meet your organization's own needs for each year.  The template to actually copy and use is at endowment

We certify that these assets are kept physically segregated from all other assets and are kept in a completely separate brokerage account at _Fidelity Investments, 100 Main Street, BigTown, OH_ (the brokerage statements for all of the year's transactions as well as the end of year statement are attached).   This statement has been prepared by _Joan Jones, Treasurer_ and was completed on _Jan 26, 20xx_.  Both the physical presence and the mathematical accuracy of the below information was verified by _Mary Smith, President_.  The reconciliation of the beginning valuation to the ending valuation is at the bottom of this page.

  ----Beginning of year information----

 This is "EXAMP-20xx- Endowment Assets" 

----END of year information-

company name# shares$ per sharevaluationDescription of transactions this year (sales, purchases, splits, dividends paid in extra shares. merger changes, etc.)company name s# shares$ per sharevaluation

income received this year

ABC1000$23.3223,320.00 ABC100026,1526,150.001,400.00
DEF100024.1824,180.00sale at 28.95 share on April 24th 2013 (after commissions) 28,950

 

soldsold 0250.00
purchpurch  purchased on April 28th 2013 for 277.12 share (including commissions) (note #2)GHI100244.1824,418.00984.00
JKL100033.1833,180.00two for one split this yearJKL200017.1134,220.001,600.00
MNO50070.0035,000.00paid 10% dividend in stock (plus the regular dividend in cash), only stock shown hereMNO55063.8235.101.00375.00
PQR100038.0038,000.00PQR accepted merger offer for 500 shares of STU plus $3.73 "in lieu of fractional shares" (note#1)STU50099.8849.940.00990.00
?????? ???351,555.00all others - see example of ABC at the top of this example list?????? ???363.182.0014,234.00
          
          
Cashn/an/a999.00Cash in endowment accountCashn/an/a1,111.00            14.33
xxxxxxxxxxxxxxxxxx$506,234.00Totalsxxxxxxxxxxxxxxxxxxx$534,122.00

$19.847.33

Reconciliation of the beginning VALUATION to the ending VALUATION follows:

Beginning valuation, which must be EXACTLY the same as last year's ending valuation   $506,234.00 
Add sales proceeds, net of commissions, as listed above $28,950.00  
Add income received this year, as shown above  19,847.33  
Add all other receipts (and explain details) (see note #1)          3.73  

Subtotal of Additions to cash

     48,801.06
Subtract costs of purchases, including commissions, as listed above $27,712.00  
Subtract distributions of cash to our mission's beneficiaries  19,000.00  
Subtract And other cash paid out (other than for the above, and explain why this cash was paid out in a note (#1, #2, #3, etc)          0.00  

Subtotal of Subtractions from cash

  (46,712.00)
Subtotal of above prior to recording this year's gain or (loss) on valuation due to market fluctuation - this accounts for the net changes in cash   508,323.06
Ending valuation, which agrees with the above listing of ending values   534,122.00

Excess (or deficiency) of changes in valuation due solely to this past year's market fluctuations

    25,798.94
Cumulative Excess (or deficiency) of changes in valuation as computed last year and shown on last year's Endowment Assets Report..     17,833.24
CUMULATIVE EXCESS (OR DEFICiENCY) since original receipt of the MPWCF's dissolution distribution    $43,632.18

Reconciliation of the beginning cash to the ending cash follows:

Cash at beginning of the year, same as ending cash for last year   $  1111.00
Add dividends and other income as shown above    $19,847.33  
Add proceeds of sales of securities sold this year as shown above    $28,950.00  
Add any other items (and explain) $        3.73 $48,801.06
Subtract purchases of new shares as shown above $27,712.00  
Subtract monies paid out in support of our organization's mission $19.000.00  
other subtractions (explain) $        0.00 ($46.712.00)
Cash at end of year, agreeing with bank statement and is mathematically in agreement with the above   $    3,200.06

Notes supporting the above Statements regarding our Endowment from the MPWCFoundation:

#1 - hares of STU plus $3.73 "in lieu of fractional shares" 

#2 - GHI is a foreign country stock and, as a non-profit organization, we do not pay taxes.  So the foreign withholding tax is a cost to us and therefore may not have been a wise purchase by us.

 

Signed by _________________________________________ Chief Executive of your organization

 

Signed by _________________________________________ Chief Financial Executive of your organization

 

Signed by _________________________________________ person who prepares the annual input for the MPWCF for your organization

 

Signed by _________________________________________ person who checks all of the annual input for the MPWCF for your organization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

“Underpromise and Overdeliver”

Some, but not all, pages on this web-site were selectively modified as recently as the date shown at the bottom of the MPWCFoundation home web-page. This entire web-site is copyrighted © 2000-2016 by The Michael Paul Wein Charitable Foundation, Inc  

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