SAE Foundation Annual Report 2015 - 41

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,

Level 1

Level 2

Level 3

Total

Equities are traded in active
markets and valued based on their
quoted fair value by independent
pricing vendors.

(in thousands)

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

$

$

308
7,827

$

-

$

-

$

308
7,827

1,921

1,439

-

3,360

10,056

945
2,384

701
701

701
945
13,141

$

$

$

Fair value of assets and liabilities measured on a recurring basis within the fair value hierarchy is as follows at:
December 31,
Cash
Equity investments
Fixed income investments
Domestic
Alternative investments
Real estate income fund
Managed futures
Total

Level 1
$

$

66
8,041

Level 2
$

-

Level 3

(in thousands)

$

-

$

Total
66
8,041

1,205

2,411

88

3,704

9,312

1,057
3,468

659
747

659
1,057
13,527

$

$

$

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
nvestments are not actively traded
and are valued using the present
value of future cash flows model
(Level 3 inputs).

Inspiring Curiosity in STEM | 41



SAE Foundation Annual Report 2015

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