REPORT OF EXECUTIVE COMMITTEE 121 



FREER GALLERY OP 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 

 Wliistler, 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 endov/ment 

 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 income, etc., to a total of $4,881,986.96. In view of the 

 imj)ortance and special nature of the gift and the requirements of 

 the testator in respect to it, all Freer funds are kept separate from 

 the other funds of the Institution, and the accounting in respect to 

 them is stated separately. 



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



Court and grounds fund $546, 932, 11 



Court and grounds maintenance fund 137, 506. 17 



Curator fund 556, 567. 59 



Residuary legacy 3, 640, 981. 00 



Total 4, 881, 986. 96 



SUMMARY 



Invested endowment for general purposes $1, 132, 868. 57 



Invested endowment for specific purposes other than Freer 

 endowment 692, 448. 47 



Total invested endowment other than Freer endowment— 1,825,317.04 

 Freer invested endowment for specific purposes 4, 881, 986. 96 



Total invested endowment for all purposes 6, 707, 304. 00 



CLASSIFICATION OF INVESTMENTS 



Deposited in the U. S. Treasury at 6 percent per annum, as 



authorized in the United States Revised Statutes, sec. 5591— $1,000,000.00 

 Investments other than Freer endowment (cost or 

 market value at date acquired) : 



Bonds (19 different groups) $300,367.81 



Stocks (41 different groups) 474, 721. 18 



Real estate and first-mortgage notes 41, 746. 00 



Uninvested capital 8, 482. 55 



825, 317. 04 



Total investments other than Freer endowment 1,825,317.04 



