Page 35 - SDTC_2009_AR

Notes to Financial Statements

Year ended December 31, 2009

(Tabular amounts in Thousands of Dollars)

6. Deferred contributions - expenses of future periods:

Deferred contributions related to expenses of future periods represent the unspent balance in the Fund that is restricted for disbursement to eligible sustainable development technology projects and operations of the Foundation, as defined in the Funding Agreements. The change in the deferred contributions balance is as follows:

2009 2008 NextGen SD Tech Biofuels

Fund Fund Total Total

Balance, beginning of year $ 484,533 $ 65,106 $ 549,639 $ 507,502

Conditional grant received –   –   –   63,031 Investment income 16,937 391 17,328 20,148 Unrealized gain (loss) on

investments 2,277 (27) 2,250 10,517 503,747 65,470 569,217 601,198 Less amount amortized as

revenue (57,001) (1,213) (58,214) (51,048) Less investment fund

management fees (505) (63) (568) (511) (57,506) (1,276) (58,782) (51,559)

$ 446,241 $ 64,194 $ 510,435 $ 549,639

During the year, no other funding or donations were provided to the Foundation.

33