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Child Care Resource Center, Inc. Notes to Financial Statements
Note 9 – Fair Value of Measurement of Investments (continued)
The following table presents the fair value measurements of assets recognized in the accompanying statements of financial position measured at fair value on a recurring basis and the fair value hierarchy in which the fair value measurements fall at June 30, 2017 and 2016:
2017
Level 1 Assets Valued at NAV
Total 21,797
418,336
790,666 1,275,815 135,711 171,224 12,862
2,826,411
Total
565,454
517,596 857,000 187,487 236,797
15,200
2,388,609
Cash and cash equivalents Fixed income funds
Corporate bonds Equity securities
International common stock Domestic common stock Hedged equity funds
Real estate funds Commodity funds
Total
Cash and cash equivalents Fixed income funds
Corporate bonds Equity securities
International common stock
Domestic common stock Real estate funds
Private equity funds Commodity funds
Total
$
$
$
$
21,797 $
418,336
790,666 1,275,815 135,711 171,224 12,862
2,826,411 $
- -
- - - - -
-
$
$
2016
Level 1 Assets Valued at NAV
9,075 $ - $
565,454 -
517,596 - 857,000 - 187,487 -
- 236,797 15,200 -
2,151,812 $ 236,797 $
9,075
Hedged equity funds are standard mutual funds with same liquidity provisions as other mutual funds in the investment portfolio.
Private equity funds accounted for at NAV, or its equivalent, seek to achieve long-term capital appreciation by investing in a globally diversified portfolio of private equity investments. These private equity funds are redeemable on a quarterly basis with an approximately 60-day redemption notice period. There are no unfunded commitments associated with these funds. The funds are subject to a one-year soft lock with a withdrawal fee of 2%.
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