SAE Foundation Annual Report 2013 - 68

SAE FOUNDATION
Notes to the Financial Statements (Continued)
Note 7 - Fair Values Measured on a Recurring Basis
The following table sets forth composition of the Foundation's investments by level, within
the fair value hierarchy, at December 31, 2013:
Level 1
Cash
Equity investments
Fixed income
Domestic
Alternatives
Managed futures

$

57,030
6,615,808

Level 2
$

3,777,133

$

57,030
6,615,808

603,708

4,380,841

818,425

818,425

$ 1,422,133

$11,872,104

$10,449,971

-

Total

The following table sets forth composition of the Foundation's investments by level, within
the fair value hierarchy, at December 31, 2012:
Level 1
Cash
Equity investments
Fixed income
International
Domestic
Alternatives
Managed futures

$

52,062
5,529,379

Level 2
$

-

Total
$

52,062
5,529,379

-

113,865
3,997,000

113,865
3,997,000

-

724,166

724,166

$ 4,835,031

$10,416,472

$ 5,581,441

Equities are traded in active markets and valued based on their quoted fair value by
independent pricing vendors.
Fixed income investments for which a quote price in an active market is available are valued
based on their quoted fair value by independent pricing vendors (Level 1 inputs). Other fixed
income investments that are not actively traded are valued using quotes from independent pricing
vendors based on recent trading activity and other relevant information, including market interest
rate curves, referenced credit spreads, and estimated prepayment rates for similar instruments
(Level 2 inputs).

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SAE Foundation Annual Report 2013

Table of Contents for the Digital Edition of SAE Foundation Annual Report 2013

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