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In 2014 the Rubin Center for the Arts received a 2 million endowment the income of which was to be used to support local artists.
In 2014 the Rubin Center for the Arts received a 2 million endowment the income of which was to be used to support local artists. The center invested the proceeds in securities. In 2014, owing to interest dividends, and changes in market prices, the value of the endowment increased by $120,000. Of this amount, the center spent $80.000 on programs that were consistent with the endowment's restrictors. In 2015, owing to a market downturn, the portfolio incurred net losses of $60.000. In 2016, it had net gains of $70,000. In. neither 2015 nor 2016 did the center use any endowment resources to support its programs. in the absence of donor specifications and applicable statutes what you albe the balance at the end of 2014-2015 and 2016, on the denters fil permanentended endowment fund and: [2) related ten porenrestricted Also indate et on unrestricted funds
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