REPORT OF THE EXECUTIVE COMMTTTBE 169 



FREER GALLERY OF ART FUND 



Early in 1906, by deed of gift, Cliarles L. Freer, of Detroit, gave 

 to the Institution his collection of Chinese and other Oriental objects 

 of art, as well as paintings, etchings, and other works of art by 

 Whistler, Thayer, Dewing, and other artists. Later he also gave 

 funds for construction of a building to house the collection, and finally 

 in his will, probated November 6, 1919, he provided stocks and se- 

 curities to the estimated value of $1,958,591.42, as an endowment 

 fund for the operation of the Gallery. The fund now amounts to 

 $7,230,968.48. 



SUMMARY OF ENDOWMENTS 



Invested endowment for general purposes $1, 901, 052. 11 



Invested endowment for specific purposes other than Freer en- 

 dowment 2, 137, 278. 37 



Total invested endowment other than Freer endowment- 4, 038, 330. 48 

 Freer invested endowment for specific purposes 7, 230, 968. 48 



Total invested endowment for all purposes 11, 269, 298. 96 



CLASSIFICATION OF INVESTMENTS 



Deposited In the U. S. Treasury at 6 percent per annum, as au- 

 thorized in the U. S. Revised Statutes, sec. 5591 $1, 000, 000. 00 



Investments other than Freer endowment (cost or market value 

 at date acquired) : 



Bonds $1, 144, 322. 62 



Stocks 1, 872, 085. 09 



Real estate and mortgages 5, 936. 00 



Uninvested capital 15, 986. 77 



3, 038, 330. 48 



Total investments other than Freer endowment 4, 038, 330. 48 



Investments of Freer endowment (cost or market value at date 

 acquired) : 



Bonds $4, 374, 757. 31 



Stocks 2, 835, 878. 90 



Uninvested capital 20, 332. 27 



7, 230, 968. 48 



Total investments 11, 269, 298. 96 



CASH BALANCES, RECEIPTS, AND DISBURSEMENTS DURING FISCAL YEAR 



1955* 



Cash balance on hand June 30, 1954 $867, 671. 10 



Receipts, other than Freer endowment : 



Income from investments $233,712.18 



Gifts and contributions 355,562.07 



Books and publications 76,751.72 



Miscellaneous 37, 105. 24 



Proceeds from real estate 45. 00 



* This statement does not include Government appropriations under the administrative 

 charge of the Institution. 



