53 
was granted. The amount requested is based on actual experi- 
ence and is the least amount with which our present activities 
can be continued. The difference between the request and the 
appropriation must be made up from private funds, most of 
which are secured by annual solicitation—a very uncertain as 
well as inadequate method of financing our work, and involving 
a great crippling of our educational and scientific activities. 
Private Funds Accounts 
a. Income —The total private funds income for 1925 was 
$7,486.03 more than for 1924 ($63,024.48 us. $55,543.45). 
The total budget for 1925 was $145,436.31, of which 45 per cent. 
was provided from private funds. 
b. Endowment Increment Account.—Special attention is called 
to the fact that the principal of this account amounted to 
$26,162.42, as of Dec. 31, 1925. This represents an increase of 
$5,269.99 over 1924, made up of interest on the principal sum, 
plus amounts transferred from the income of the various accounts 
that contribute (according to the Endowment Increment plan) 
20 per cent. of their income annually. 
Assessed Valuation of Botanic Garden Property 
The assessed valuation of Botanic Garden property in 1913 
was $2,400,000 (Third Ann. Rept. 1913, p. 32). According to a 
report from the City of New York, Department of Taxes and 
Assessments, Borough of Brooklyn (received February 27, 1926), 
the assessed valuation for the year 1926 is as follows: 
Wand cendee 6 ash esas. 0 $6,500,000 
Buildingsin 222453. i012 05. 1 Oe 500,000 
Potalscec. 252. ..24.633. 25. eee $7,000,000 
Needs of the Garden 
An itemized statement of our needs was given in my preceding 
report and need not be repeated here. It is all summed up in 
the two words, ‘‘additional income,” emphasizing the fact that 
this income should be permanently assured as income from 
endowment. The opening paragraphs of this report deal with 
this subject. Until they are met, the following needs (not to 
