SAE Foundation Annual Report 2014 - BDO17


SAE Foundation
Notes to the Financial Statements (Continued)

7. Fair Values Measured on a Recurring Basis
Fair value of assets and liabilities measured on a recurring basis within the fair value hierarchy is
as follows at:
December 31, 2014

Level 1

Cash
Equity investments
Fixed income investments
Domestic
Alternative investments
Real estate income fund
Managed futures

$

Total

$

66
8,041

Level 2
Level 3
(in thousands)
$

-

$

-

Total
$

66
8,041

1,205

2,411

88

3,704

-

1,057

659
-

659
1,057

9,312

$

3,468

$

747

$

13,527

Fair value of assets and liabilities measured on a recurring basis within the fair value hierarchy is
as follows at:
December 31, 2013

Level 1

Cash
Equity investments
Fixed income investments
Domestic
Alternative investments
Managed futures

$

Total

$

57
6,616

Level 2
(in thousands)
$

-

$

Total
57
6,616

3,777

604

4,381

-

818

818

10,450

$

1,422

$

11,872

Equities are traded in active markets and valued based on their quoted fair value by independent
pricing vendors.
Fixed income investments for which a quoted 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). Certain fixed income investments are not actively traded and are valued using
the present value of future cash flows model (Level 3 inputs).

See accompanying independent auditor's report.
17



Table of Contents for the Digital Edition of SAE Foundation Annual Report 2014

SAE Foundation Annual Report 2014 - Cover1
SAE Foundation Annual Report 2014 - Cover2
SAE Foundation Annual Report 2014 - 1
SAE Foundation Annual Report 2014 - 2
SAE Foundation Annual Report 2014 - 3
SAE Foundation Annual Report 2014 - 4
SAE Foundation Annual Report 2014 - 5
SAE Foundation Annual Report 2014 - 6
SAE Foundation Annual Report 2014 - 7
SAE Foundation Annual Report 2014 - 8
SAE Foundation Annual Report 2014 - 9
SAE Foundation Annual Report 2014 - 10
SAE Foundation Annual Report 2014 - 11
SAE Foundation Annual Report 2014 - 12
SAE Foundation Annual Report 2014 - 13
SAE Foundation Annual Report 2014 - 14
SAE Foundation Annual Report 2014 - 15
SAE Foundation Annual Report 2014 - 16
SAE Foundation Annual Report 2014 - 17
SAE Foundation Annual Report 2014 - 18
SAE Foundation Annual Report 2014 - BDO1
SAE Foundation Annual Report 2014 - BDO2
SAE Foundation Annual Report 2014 - BDO3
SAE Foundation Annual Report 2014 - BDO4
SAE Foundation Annual Report 2014 - BDO5
SAE Foundation Annual Report 2014 - BDO6
SAE Foundation Annual Report 2014 - BDO7
SAE Foundation Annual Report 2014 - BDO8
SAE Foundation Annual Report 2014 - BDO9
SAE Foundation Annual Report 2014 - BDO10
SAE Foundation Annual Report 2014 - BDO11
SAE Foundation Annual Report 2014 - BDO12
SAE Foundation Annual Report 2014 - BDO13
SAE Foundation Annual Report 2014 - BDO14
SAE Foundation Annual Report 2014 - BDO15
SAE Foundation Annual Report 2014 - BDO16
SAE Foundation Annual Report 2014 - BDO17
SAE Foundation Annual Report 2014 - Cover3
SAE Foundation Annual Report 2014 - Cover4
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