| Year Ended September 30, |
2003 |
2002 |
| |
Cash Flows from Operating Activities |
|
|
| Cash received from customers |
$19,745,743 |
$18,908,214 |
| Cash received from gifts and bequests |
6,565,853 |
1,775,573 |
| Interest and dividends |
1,464,870 |
1,495,794 |
| Other income and support |
886,309 |
923,342 |
| Cash paid to suppliers, employees and others |
(21,760,978) |
(20,429,488) |
| Net Cash Provided by Operating Activities |
6,901,797 |
2,673,435 |
| |
| |
Cash Flows from Investing Activities |
|
|
| Proceeds from sale of marketable securities |
77,912,093 |
35,961,110 |
| Purchase of marketable securities |
(82,470,692) |
(37,818,292) |
| Purchase of property and equipment |
(1,060,275) |
(969,283) |
| Net Cash Used in Investing Activities |
(5,618,874) |
(2,826,465) |
| |
| |
Cash Flows from Financing Activities |
|
|
| Proceeds from contributions restricted for investment subject to annuity agreements |
921,822 |
278,000 |
| Payments of annuity obligations |
(299,522) |
(269,305) |
| Net Cash Provided by (Used in) Financing Activities |
622,300 |
8,695 |
| |
| |
| Increase (Decrease) in Cash and Cash Equivalents |
1,905,223 |
(144,335) |
| |
| Cash and Cash Equivalents, Beginning of Year |
3,168,517 |
3,312,852 |
| |
| Cash and Cash Equivalents, End of Year |
$ 5,073,740 |
$ 3,168,517 |
