Yusef Ramelize Portfolio Jun. 2016 | Page 30

NOTE 3. FAIR VALUE MEASUREMENTS Assets and liabilities measured at fair value are based on one or more of three valuation techniques identified in the table below. The valuation techniques are as follows: (a) Market approach: Prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities; (b) Cost approach: Amount that would be required to replace the service capacity of an asset (replacement cost); and (c) Income approach: Techniques to convert future amounts to a single present amount based on market expectations (including present value techniques, option‑pricing and excess earnings models.) The following tables set forth by level, within the fair value hierarchy, the Foundation’s assets at fair value, as of December 31, 2015 and 2014 respectively: Level I Level II Level III 2015 Total Bonds: Government and agency securities $ - $ 553,420 $ - $ 553,420 Corporate bonds - 869,839 - 869,839 Foreign bonds - 123,471 - 123,471 Total bonds - 1,546,730 - 1,546,730 Mutual funds: International index fund 728,671 - - 728,671 Foreign large growth 478,753 - - 478,753 Large cap blend Small cap Total mutual funds 1,845,696 - - 1,845,696 724,001 - - 724,001 3,777,121 - - 3,777,121 Equity securities: Financials 433,672 - - 433,672 Healthcare 286,168 - - 286,168 Information technology 257,288 - - 257,288 Industrials 210,928 - - 210,928 Energy 167,802 - - 167,802 Consumer discretionary 128,696 - - 128,696 Consumer staples 56,972 - - 56,972 Utilities 73,138 - - 73,138 Telecommunication services 32,005 - - 32,005 Materials 14,659 - - 14,659 1,661,328 - - 1,661,328 - 1,376,620 - 1,376,620 Total equity securities Real estate fund Total investments 30 $ 5,438,449 $ 2,923,350 $ - $ 8,361,799