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GENERAL EDUCATION BOARD

(L. M. Dashif.t.t,, Treasurer)

This corporation, which was created by an act of Congress approved January 12,1903, section 6 of which requires the corporation to file annually with the Secretary of the Interior a report, in writing, stating in detail the property, real and personal, held by the corporation and the expenditure or other use or disposition of the same or the income thereof during the preceding year, has for its object the promotion of education within the United States.

On June 30, 1935, principal fund, belonging without restriction to the Board, amounted to $44,415,140.50. This fund is invested in stocks and bonds. In addition the sum of $11,597,952.21 is reserved to pay appropriations to various educational institutions. This fund is also invested in stocks and bonds. Lapses and refunds on prior years' appropriations amounted to $1,250,000 and $470, respectively. The sum of $499,729.20 was paid during the year ended June 30, 1935.

Appropriations from income during the year aggregated $4,994,150.03. Lapses on account of prior years' appropriations amounted to $741,673.71, however, leaving a net increase in income appropriations of $4,252,471.32.

The income from the above funds, together with income from undisbursed income (and including the sum of $142.85 received on account of income from the estate of Lucy M. Spelman), amounted during the year to $2,525,124.35. The balance of income from the previous year as of June 30, 1934, amounted to $11,334,932.44, together with sundry refunds amounting to $71,561.84, which increased the total to $13,860,056.79.

Disbursements from income during the year were as follows:

Whites:

Colleges of liberal arts: General endowment,

buildings, and other purposes $328, 988. 23

Science of education:

Schools of education $353,426. 90

Special projects 261,149.14

614,576.04

Natural sciences 12,931. 56

Medical sciences:

Schools of medicine 248,000.00

Special projects 16,156.15

264,156.15

Whites—Continued.

Humanities $150, 232. 41

Public education:

Fellowships $43, 402.14

Special divisions in State de-
partments of education 168,881.13

Teacher training 33,262.14

Library training 34,050. 00

Studies 24,172. 36

Other purposes 7, 000. 00

310,767.77

Miscellaneous 161,951. 70

General education 172, 529. 55

Child growth and development 160,586. 89

Training of personnel for the ad-
vancement of knowledge 109, 680.53

$2, 286, 400. S3

Negroes:

Colleges and schools: General endowment, build-
ings, and other purposes 515,449. 85

Social sciences 12, 500.00

Medical sciences:

Schools of medicine $167,476.34

Special projects 7,067.94

174,544.28

Public education:

Summer schools 3,889. 53

Anna T. Jeanes foundation.. 32,500.00

John F. Slater fund 37, 500. 00

Rural-school agents 128,585.43

Fellowships 66,229.12

Special divisions in State de-
partments of education 1,500.00

Other purposes 5,372. 52

275,576.60

Miscellaneous 4,994. 54

983, 065.27

Surveys and studies 19, 839. 23

Miscellaneous projects 5,384. 22

Administration 304, 751. 75

3,599,441.30

This leaves an undisbursed balance of income on June 30, 1935, of $10,260,615.49, which is invested as follows: Securities, $4,961,906.89; certificates of deposit, $3,500,000; cash on deposit, $1,367,719.04, and accounts receivable, net, $430,989.56. It should be noted, however, that against this balance of $10,260,615.49 there are unpaid appropriations amounting to $9,233,709.30, leaving unappropriated income amounting to $1,026,906.19.

The Anna T. Jeanes Fund, the principal and interest of which are to be used for Negro rural schools, amounted, on June 30, 1935,

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