Summary Report of The Carl B. Kern Fund

for the Three Quarters Ended 09/30/96

Received by the Kern Fund Advisory Board Chair on 11/23/96: 

Opening Balance as of January 1 ................ $ 59,570.37
    
Investment Income ............................... + 1,815.54
Foundation Distribution ............................... 0.00
Change in Market Value .......................... + 2,296.57
Gifts Received .................................. + 1,775.00
Interfund Transfers ................................... 0.00
Broker Fees/Commission ................................ 0.00
Foundation Fees ................................... - 190.15
Bank Fees ......................................... - 177.32
Grants Paid ..................................... - 3,200.00
Program Expenses ................................ - 1,500.00
    
Ending Balance for Third Quarter ............... $ 60,390.01

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