Page 20 - 2019 - 2020 Child Care Resource Center Audited Financial Statements

Child Care Resource Center, Inc. Notes to Financial Statements
Note 8 – Fair Value of Measurement of Investments (continued)
Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities include cash and cash equivalents, certain fixed income funds, certain equity securities, and real estate funds. Level 2 securities include a medium-term note receivable and certain fixed income funds. There were no Level 3 securities held by CCRC. Private equity funds are measured using net asset value (NAV) per share as a practical expedient.
The availability of observable market data is monitored to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the transfer is reported at the beginning of the reporting period. There were no transfers between levels for the years ended June 30, 2020 and 2019.
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, 2020 and 2019:
Level 1
1,183,149
4,469,246 200,120
2020
Level 3
Assets Measured Using NAV
- $ - - -
- -
- -
- -
- 336,862 - -
- $ 336,862
Assets Measured Using NAV
- $- - -
- -
- -
- 324,252 - -
- $ 324,252
Cash and cash equivalents Fixed-income funds
Corporate bonds Equity securities
International common stock Domestic common stock Medium term notes
Private equity funds
Real estate funds
$
Level 2 $- $
$
$
$
$
Total 1,183,149 4,669,366
402,810 883,886 199,000 336,862
90,864
7,765,937
Total
24,241
1,084,021
229,668 873,568 324,252 154,470
2,690,220
Total $
402,810 - 883,886 - - 199,000 - - 90,864 -
7,029,955 $ 399,120 $
Level 1 Level 2
24,241 $ 1,084,021
229,668 873,568 - 154,470
2019 Level 3
Cash and cash equivalents Fixed-income funds
Corporate bonds Equity securities
International common stock Domestic common stock Private equity funds
Real estate funds Total
$
- $
-
-
-
-
-
- $
$ 2,365,968 $
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