SAE Foundation Statements of Cash Flows 2014 For the Years Ended December 31, Cash Provided by (Used for) Operating Activities Increase in net assets Adjustments to reconcile change in net assets to net cash provided by (used for) operating activities Depreciation Net appreciation in fair value of investments Changes in Accounts receivable Pledges receivable Accrued interest and other receivables Prepaid expenses Accounts payable Other assets and liabilities $ Net Cash Provided by (Used for) Operating Activities 512 2013 (in thousands) $ 438 (484) 1 (1,234) (38) 386 (80) (389) 76 (6) (12) 972 27 38 (72) 23 (23) 181 Cash Provided by (Used for) Investing Activities Purchase of investments Proceeds from sale of investments (2,076) 905 (231) 10 Net Cash Used for Investing Activities (1,171) (221) Decrease in Cash (1,194) (40) 2,861 Cash - beginning of year $ Cash - end of year 1,667 2,901 $ 2,861 See accompanying independent auditor's report and notes to the financial statements. 9