STATEMENT OF FINANCIAL POSITION – DECEMBER 31, 2005

ASSETS	2005	2004
Cash and cash equivalents	1,430,793	239,755
Investments at market	16,110,990	9,199,469
Fixed asset at cost (net of accumulated depreciation of $30,272 in 2004 and $15,709 in 2003)	6,489	20,199
TOTAL ASSETS	17,548,272	9,459,423
LIABILITIES AND NET ASSETS
LIABILITIES
Accounts Payable	0	2,179
Grants Payable	18,550	11,423
Present value of charitable lead annuity trust	142,751	45,507
Funds held as agency endowments	6,219,428	3,733,894
Total Liabilities	6,380,729	3,793,003
NET ASSETS
Unrestricted	951,448	909,235
Temporarily restricted	1,877,189	598,218
Permanently restricted	8,338,906	4,158,967
Net Assets	11,167,543	5,666,420
TOTAL LIABILITIES AND NET ASSETS	17,548,272	9,459,423

The financial information on this page has been summarized by management from the audited financial statements of The San Angelo Area Foundation.

Auditors Report

The San Angelo Area Foundation financial statements are audited by an independent public accounting firm. The audit for fiscal year 2005 has been performed by Condley and Company, LLP, of Abilene, Texas. Copies of the audit are available upon request from The Foundation office.