﻿REPORT 
  OF 
  THE> 
  EXECUTIVE 
  COMMITTEE 
  

  

  91 
  

  

  CONSOLIDATED 
  FUND 
  

   Statement 
  of 
  principal 
  and 
  income 
  for 
  the 
  last 
  10 
  years 
  

  

  FREER 
  GALLERY 
  OF 
  ART 
  FUND 
  

  

  Early 
  in 
  1906, 
  by 
  deed 
  of 
  gift, 
  Charles 
  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 
  the 
  

   construction 
  of 
  a 
  building 
  to 
  house 
  the 
  collection, 
  and 
  finally 
  in 
  his 
  

   will, 
  probated 
  November 
  6, 
  1919, 
  he 
  provided 
  stock 
  and 
  securities 
  to 
  

   the 
  estimated 
  value 
  of 
  $1,958,591.42 
  as 
  an 
  endowment 
  fund 
  for 
  the 
  

   operation 
  of 
  the 
  Gallery. 
  From 
  the 
  above 
  date 
  to 
  the 
  present 
  time 
  

   these 
  funds 
  have 
  been 
  increased 
  by 
  stock 
  dividends, 
  savings 
  of 
  in- 
  

   come, 
  etc., 
  to 
  a 
  total 
  of 
  $5,836,772.01. 
  In 
  view 
  of 
  the 
  importance 
  and 
  

   special 
  nature 
  of 
  the 
  gift 
  and 
  the 
  requirements 
  of 
  the 
  testator 
  in 
  re- 
  

   spect 
  to 
  it, 
  all 
  Freer 
  funds 
  are 
  kept 
  separate 
  from 
  the 
  other 
  funds 
  of 
  

   the 
  Institution, 
  and 
  the 
  accounting 
  in 
  respect 
  to 
  them 
  is 
  stated 
  sepa- 
  

   rately. 
  

  

  The 
  invested 
  funds 
  of 
  the 
  Freer 
  bequest 
  are 
  classified 
  as 
  follows 
  : 
  

  

  Court 
  and 
  grounds 
  fund 
  $653, 
  866. 
  10 
  

  

  Court 
  and 
  grounds 
  maintenance 
  fund 
  164, 
  230. 
  01 
  

  

  Curator 
  fund 
  665, 
  412. 
  78 
  

  

  Residuary 
  legacy 
  4, 
  353, 
  263. 
  12 
  

  

  Total 
  5, 
  836, 
  772. 
  01 
  

  

  SUMMARY 
  

  

  Invested 
  endowment 
  for 
  general 
  purposes 
  $1, 
  336, 
  949. 
  55 
  

  

  Invested 
  endowment 
  for 
  specific 
  purposes 
  other 
  than 
  Freer 
  

  

  endowment 
  1, 
  305, 
  973. 
  57 
  

  

  Total 
  invested 
  endowment 
  other 
  than 
  Freer 
  endowment 
  2, 
  642, 
  923. 
  12 
  

  

  Freer 
  invested 
  endowment 
  for 
  specific 
  purposes 
  5, 
  836, 
  772. 
  01 
  

  

  Total 
  invested 
  endowment 
  for 
  all 
  purposes 
  8, 
  479, 
  695. 
  13 
  

  

  