REGISTERED CIIARrrY NUMBER.. 1158631 REPORT OF THE TRUSTEES AND UNAUDITED FINANCtAL STATEMENrs OR _YEAR ENDED 31 MARC 2025 FOR THE ARCE UND TION Chortered Certifia Accountants 29 Arboretum Street Nottingba Nottinghamshire NGI 4JA THE MARCELLUS BAZ FOUNDATION cONfE￿s OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Report of th¢ Tru$tr¢s Independent ExamIne￿$ Report Statement of Financial Aclivities Balance Sheel Notes to th¢ Finaucial Stal¢ments 8 to 14 ELL AT REPORT Q_F.IILTRUST£ES R THE YEAR EIWED 31 MARCH 202 The trustees present their report with the fmancial statements of the charity for the year erLd¢d 31 March 2025. The ttLstees have adopted the provisions of Accounting and Reporting by Charities: StatellLent of Rec4)mm¢nded Prdctice applicable to cIMrities prwaring their accounts in accordance with th¢ Financial R¢porting StandaTd applicable in the UK and Republic of Ir¢land (FRS 102) (effective l January 20191. The fmancial statements have been p￿ared in a¢Gordance with Éh¢ accounting policies set out in notes to the accoullts and comply with the charity's governing docurnen( the ch￿ltieS Art 2011 and Accounting and Reporting by ￿tieS.. Statement of Recomrnended Practice applicable to chariti¢s preparing their accounts in ￿cordance with tb¢ Financial Reporting Standard applicable in the UK and Republic of Jreland published in October 2019. OBJECTtVES AND ACTIVITIES Objecrfves #nd alm8 The Ch￿lty and its propety are managed and adn]inistered by a conynittee comprising th¢ officets and other membet¥ ¢l¢rted in accordance with the ConstitutiOL The officers and other members of the committee are the trustees of the charity and in the Con8titutioll are together called *he trustees,. The charity has a chairperson, secretary and a tr¢￿U[cr. In setting objectives and plaDning for activitieq, the TnLStees hav¢ givell du¢ consideration to genernl guidance published by th¢ ¢F￿lty commission relating to public ben¢fit and in particular lo its suppletncnt8ry publtc b¢nefit guidance on Education and learning. Th¢ objKts of the eharity (obJ￿t5) ar4 without reference to race. sex, disability, C￿ed or social backgroun4 for th¢ beTLefLt of children, young people and adults itt Nottinghamsl)ire aDd other counties in the East Midlond8: l. The advancement of amat¢ur sport for children. yOL￿g peopl¢ atLd adults to participate in boxing and other l¢isure.time adivities 80 that they might grow to maturity as itldivsduals and trustees of society and so tbat Ib¢ir conditions of life tnay be improved 2. To act as a resource for ¢hil(Iren, young people and adults by providing advice and assistance and organising prOg￿￿¢S of physical, ￿uCatiOnal atld other activities as a means of: . advancing in life aFLd helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, matur¢ alldresponsible individuals. . advancing education in such ways as the trust¢es think fjt. . the ￿11¢£ of unemploymNrt for the benefit of the public in such ways as tnay be thought fiL including as8lStance to fmd 3. To promote wial irtclusion for th¢ public benefit by preventing people from kno￿An8 socia]ly ¢xcluded, re]ieving the needs of those people who ar¢ socially excluded and assisting them to int¢grate into society. (For Ihe PWFOS¢ of this clause 'so¢ially excluded, means being excluded from society, or part of society, as a result of being a member of a socially and eci)non]ically dq)rived wmtnunity}. The PrOn￿tIon of equality and diversity for tILe public benefit and the elimillation of discrimit)ation on the grounds of race. religio￿ g¢nder, sexual orientation or disability. Advancing education and rdÉsing awaren¢ss in equality and diversity and promoting activities to foster underst￿ding b¢tween pwle frorn diverse backgrounds. The trustees have paid due regard to guidanc¢ issued by the ChaLity con]m￿S1o￿ in a￿ldIng what activities the ¢kwity should undertake. Pag¢ I THE MARC THE TE FOR THE YEAR ENDED 31 MARCH 202 ACHIEVEMEIYTS AND PERFORMANCE Cbaritsble ￿tIvitieS During the past 12 months, the cost-of-living crisis has continued to affect ow commw]ities. The pressures f¢lt by famli ¢s and the collllnunity are unlike allythin8 Ih¢y hav¢ f¢lt b¢for¢. The 8ym continua to b¢ a safe space for all non-boxers and boxers. Working closely with Switch Up. we provided support through the cOnM￿ty appeal. Inside the gy￿ it has been a difYi¢ult year due to the condition of the gynL The building that we eurrently inhabit has developed numerous d¢f¢cts. and working with the Pakistan c￿tre has been cballenging due to theiT lack of funds. L&st year we fixed tbe floor. but we still have the issue with the heating, and the place is Mostly cold in the winter. During 2024125, with new equipment and an environment. we created champions in the ring. The knistees are keen to ensuTe that we have room to expand and wotkin8 Witb Switch Up, deliver the suvices needed to the cornn]Ufllty in a high-qua]ity space. This year, we did not deliver allythillg in the cotnmunity due to cuts in fimdtng at the City Council. This ytrdr, we have ￿lY delivered boxing S￿s1OnS to several schools and the scgsions in the This yvar, it has been significantly easier to develop both the boxers and cc4¢hes due to b¢ing ￿llY operationaL All gessions take place without any restrictions. Coaches have had ihe opp)rLuiuty to learn from others and Q￿h other to provide more hish_quality sessions. (kw boxers have been back in Con]petIti￿ alongside training with other gytlls to widen the experience of our boxers. The last year has presented challenges for us to overcome, but we have secured additional grants to grow our work. We 5eour¢ the grants to 5UPPOrt rnentoring sessions to help work with young people fro￿ our communities. FINANCIAL REVIEW Fin4llci41 position The Marcellus Baz FoundatÉon entered the year with a healthy balance on its account £509,588 and ¢i)ntinud to operat¢ efficielltly and ellded tbe year on £661,355. Th¢ organisation r¢¢eiv¢d a donation of £146.635 (2024.. £145.635) from Switch Up CIC. which was a continuation of the close and 8￿ppOrtiVe relationship betweth two organisations. Switch Up continues to fund the lease of the gym and aLt as an cu￿10y¢r for MBPS coaches and other Sta￿ Jn¢otne tsr¢as¢d to £234.554 (2024.. £266.489} along with expenditure to £82,787 (2024: £134,524). This saw 8n increase in operating surplus to £151,767 (2024: £13L.965). Reserveg pollcy The trustge5 revtew the reserves of the charity p¢riodicalty. The trustees, aim is to wrestricted generdl r&8erYes of approxinmtely 6 months, expenditure, £70.000. in order to mitigate the risk of any such periods of reduced or non-income or unforeseen ¢xp¢ndittwG Furtbennor4 dle trustees created a designated fillld within the unrestricted 8en¢rnl r¢5erves of £450,000. This designated fund will be used for the d¢v¢lopment of a community facility for the organisation. Going coucern After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resou￿e8 to contÉnue in operational exi5t¢llc¢ for the foreseeable fLrt￿e. For this reason, they o)ntinue to adopt th¢ 80ing concern basis in pr¢paring the financial statements, Further details regarding the adoption of the going concern basis can be found in the a￿)￿ting policies. Rtsks and uncertalntles The tntstees have &ssessed th¢ major risks to whith the charity is exposed, and ar¢ satisfied tbat systems are in place to mitigate exposure to the majorrisks. Pase 2 HE MAR LLUS FO ATIO PQRT O THE TRUSTEES FOR THE YEAR ENDED 31 htAR H 2025 srRucfuRE, GOVERNANCE AND MANAGE1￿£￿[ Governillg document The organisation is a charity s¢t up under a Constitution dated 22 SeptembeT 2014, as am¢nded on 28 December 2021 alld 7 FebN8ry 2024. The registered charity number is 1158631. The principal object of the charity is the promotion of community parttcipatiOD in healthy recreation in particular by the provision of facilities for boxi￿ for th¢ benefit of tbe inhabitants of Nottinthatn and suryounding areas. The n)aDagement of the tharity is the responsil)ility of the Tn￿teeS who aTe elected and c￿opted under the t¢rm5 of the constitutio￿ The Constitution states: - The charity in general me¢ting must elect the officers and the otber trustees. - The trustees may apFrf)int any person who is willing to act as a tr￿tee. They may also appoint trustees to act as oflcers but must not appoint a p¢rson to be an officer if a person has a]Teady b¢en elected or appointed to that office and has not vacated tb¢ office. - Each of the tTUStees must retire with effect from the conclusion of th¢ annual general meeting next after his or h appointment but are ¢li8ible for re-election at that annual general me¢ting. - No-one may be ele￿ed a tsuste¢ or an offi¢¢r at any general meeting unless prior to tELe m¢¢ting the charity is given a nolice - is Si8nd by a member entitled to vot¢ at the ￿eetIng. - states the member's intention to ptry)pose at the appointment of a p¢rson a5 & tn￿tee or as an offieer. - is signd by the person who is to be propo%d Éo show his or her willin￿eSS to be appoint￿. . The &ppointrient of a ttustee, wheth¢r by the charity in general meeting or by the other trustees, must not cause the numb of ttuste£S to exceed any number fixed in accordanc¢ with the Constitution &% the maximum numb¢r of trust¢es. Norte of the trustees has any beneficial interest in the charity. All of th¢ trustees are members of the chaTity al￿ guarante¢ to cotLtribute £1 in the event of a Windu￿ up. REFERENCE AND ADMINISTRATIVE DETAILS Regtstered Charlty number 1158631 Princlpal addre 163 W(k)dborough Road Nottingham NG3 IAX Trustees M Baz Chair Mrs J Smalley M MC￿ath Mrs R J Pender F Uddin S Haque Mrs H J Emmett (app)inted 20.3.25) Mrs V A Mitchell (appointed 31.3.25) Illdependent Eximlner L¢mans Chartered Qrtifid Accountants 29 Arboretum Street Nottinghamshi NGI 4JA Page 3 THE IVIARCELLUS BAZ FOUIYDATIOIY REPORT OF THE TRUSTEES FOR THE YEAR ELWED 31 MARLH 2QJ2 Approved by order of tbe board of trustees on..l.S...0.OQmib¢r...Zo.25.. and Si￿ed on it5 behalf by: M Baz- TNstee Page 4 INDEPEM)ENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MARC LLUS BAZ FOUNDATION Independent examiner's report to the trustees of The Marcellus Baz Foundation I r¢p)rt to the charity trustees on my ¢xamination of th¢ accounts of The m￿celluS Baz Foundation (the TnLSt) for the yeor ended 31 MaTch 2025. Re$ponsil>ilities and basis of report As the CI￿lty trust¢¢s of the Trust you are responsible for the pr¢paration of the accounts in accordance wtth the Tequir¢mellt5 of th¢ CIwities Act 2011 ('the Adl. I report in r¢spect of my ¢xamination of the Ttusvs a¢counts caTried out under Section 145 of the Act and in carrying out my exa¢nination I bave followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of Ihe ACL Independent examiner's statement I have completed my examination. I confitm that no material matters hav¢ come to my attention in connertion with the exami￿tion giving m¢ cause to believ¢ that in any mataial respectr. aecounting records w¢re not kept in respect of the Trust a8 required by Section 130 of the knt" or the acco￿tS do not acwrd with those records. or the ac¢ounts do not comply with the applicable rquIr¢n￿ntS concemtng the fonn and content of accounts set out in the Charities (AccoL￿tS and Reports) Regulations 2(K)8 other than any requir¢ment that the accounts ￿ve a tru¢ 2nd fair view whicll is not & matter considered as part of aTL indep¢ndent examination. I have no ¢oncems and have com¢ across no oth¢r matters in connection with the examination to whith attention should be drawn in thi5 report in order to cnable a proper understanding of the acci)unt$ to be reacbed. KaretL M¢aiand FCCA LemaDs Cl￿tered Certified Accountsnts 29 Arboretum Street Nottinglthrn NottinglMmthir¢ NGI 4JA Date.. Page 5 ELL BAZF UNDATI ST&TEMENT IIF FINANCIAL ACTtvrTIES FOR THE YEAR EIWED 31 MARCH 2025 31.3.25 3E.3.24 Total Unrestricted R¢stiict¢d fi￿d fimds Notes INCOiVIE AND ELYDOWMEIYTS FROM Donations and legacies 157,797 157.797 235,671 Charitable activities Nottingham School of Boxing 76,757 76,757 30,818 TotAI 234,554 234,554 266,489 EXPEI¥DITURE ON Cbaritable activities Nottingham SCI￿1 of Boxing 80,313 80,313 132,262 2.474 2.474 2.262 TotAI 82.787 82.787 134,524 NET INCOME Transfers between funds 151,767 450,(XK> 151.767 131,965 12 (450,0￿) Net movement In funds 601,767 (450,0(K)) 151,767 131.965 RECONCILIATION OF FtFNDS Total funds brought forward 59,588 450,(KIO 509,588 377,623 TOTAL FUNDS CA]iIUED FORWARD 661,355 661.355 509,588 The notes fonn part of these financial statrments Page 6 THE iIL4RCELLUS BAZ FOUNDATION LLYCE S EET 31 LWCH 2025 31.3.25 Total funds 31.3.24 Total funds Unrestricted Restricted fi￿d FIXED A&SETS Tangible assets 6,197 6,197 7,413 CURRENT ASSETS Debtors C&sh at bat]k and in band 143,983 549J45 143.983 549,345 L95.635 450,047 693.328 693,328 645,682 CREDrroRS Amounts lalling due wiihin on¢ year io {38,170) (38,170) (L43,507) NET CURRENf ASSETS 655,158 655.158 502.175 TOTAL ASSETS LESS CURRENr LIABILrrIES 661,355 661,355 509,588 NET ASSETS 661,355 661,355 509.588 12 Unrcstricted fi￿d$ Rastricted fimds 661.355 59,588 450,0(Ki TOTAL FUNDS 661 J55 509,588 The financial statements were approved by the Board of Trustees and authorised for issue oll and were signed on its behalf by.. - T￿￿te¢ The notes fonn part of th¢se financial statema Pag¢ 7 IllLMAR￿ELL￿BAZ FOUNDATION TES TO THE FINANCIAL STATEMENTS FOR THE YEèlR EP4DED 31 LVIAR H 2025 CHARITY INFORMATION The Marcellus Baz Foundation is a Clwitsbl¢ Incoryorated Organisation set up under a constitittion dated 22 September 2014. as amended on 28 December 2021 and 7 F¢bThary 2024. The Tegisler¢d tLumber is 1158631. Their principal adthEss is 163 Woodborough Roa￿ Nottingbarn, NG3 IAX. ACCOUNTING POLICIES Basis of preparing th¢ finaD¢ial stalements The financial straternents of the chaTity, which is a public benefit entity under FRS 102. have been prepared in accordance with the ch￿ltieS SORP (FRS 102) 'Accounting and Reporting by Charitie5'. Statement of RecoMm￿ded Practic¢ appli¢abl¢ to charities prq)aring their accounts in ac¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (efftctive l January 2019).. Finan¢ial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and R¢public of Ireland, and the Charitie6 Act 2011. The financial stateM￿ts have been preparedunder the historical cost convention. The financial statements are prepared in sterling, which is the fi]nctional C￿rrenCY of the charity 8t￿ rounded to the nearest poun The sI￿1ficant accounting wjlicies app]ied inthe preparation of these financial statements a￿ set out below. At the time of approving the financial statements. the trLtstees have a reasonable expectation the charity has adequat r¢sources to continue in operational exi5tetLce for the foreseeable futur¢. Thus tbe trustees continue to adopt the going concern basis of ￿countIng in pr¢paringthe financial statements. Income All incorne is recognised in the Statement of Fin2ncial Activities once the ¢lMrity h&5 elltitlement to the funds, it is probable that th¢ ill￿Me will b¢ I￿¢1Ved and the arnwnt can be rneasursj reliably. Donated service5 or facilities, wbiGh compti8e donated serYi¢es, ar¢ i￿lUd¢a in income at a vajuation which is an estimate of the financial cost bome by the donor whue such a cost is quantifiable and measurable. No inwm¢ is reCO￿lsea Wh￿ th¢r¢ is no finallcial coss bome by a third paty. Income tax recov￿&ble in relation to donations ￿ceived under Gift Aid or de￿5 of covenaDt is re￿￿]ised at the tim¢ of donation. Othff incotne is Eneasured at tbe faitr value of the ¢onsid¢ration r¢c¢ived receivable and represents amounts receivable for goods and services proNTrded in the nonnal course of busine&s. Grants received from L￿al Authorities ar¢ re¢ognised in the period in which the service is delivere(L Expenditure Liabilities are recogtiised as &xpenditL￿e as s(KJn as there is a legal or constrictive obligation Gonunitiing tbe charity Éo that expenditure, it is probable that a traDsfeF of econoEnic benefits will b¢ required in settlement and th¢ amount of the obligation can be rneasured Teliably. Expenditure is accounted for on an accrua18 basis and has been ¢l&ssified under headings that aggregat¢ all ¢0st Telated to tb¢ ¢at¢gory. kn cosls callnot be directly attributed to particular beadings they have been allocated to activities on a basis ¢onsistmt withthe use of resources. Support ¢c6ts are those casts incurred directly in support of expenditUTe on the objects of chatity and include projeet management carried out at Headquarters. Tanglble flxed ￿￿ets Depreciatioll is provided at th¢ following annual rat￿ in order to write off eath asset over its estimated u5efuL life. Page 8 ontinued... THE MARCELLUS BAZ FOUNDATIOI¥4 (YrES TO THE. FINANCIAL_ STATEMENTS- ¢ontiDued FOR THE YEAR ENDED 31 LIIARCK 2025 ACCOUNfiNG POLICIES- ¢olltinued TaDgible fixed assets Sports ¢quiprnent Compuler quipm¢nt 330/th on cost At each reporting end date, the charity reviews the carryitLg amounts of its tan￿lIe assets to deterniine whether there is any indication that thoge assets have suffered an impainnent loss. If any such indication exists. the recoverable amount of the asset is ¢stimat¢d in order to determine the exl¢nt of the inwairrnent loss (if any). T4xoti011 The charity is exempt from tax on its charitsble activities. Fund accounting Unr4stricted fimds can be used in accordan¢e with the charitable obiectives at the discretion of the tswteas. R￿tricted fu]Lds can only be used for particular restrtcted purpoges wiihin tILe obie¢ts of tbe charity. Restrictiolls arise when specified by the donor or when fi]nds are raised for particular restricted purposes. Furt1￿ explanation of th¢ nature and putpose of each fund is includ¢d in th¢ t￿t¢S to the finan¢ial 8ts¢¢rnent$. Cash and cash equlvalellts Cash and rash equivalents include cash in hand alld deposits held with bankg. FIDalltlal Instruments Debt0￿ and creditors with no staled illlertst rate and receivable or payable within one year are recorded at transaction price. DONATIONS AIYD LEGACIES 31.3.25 31.3.24 Donations L¢gacies 157.797 211,873 23,798 157.797 235,671 TRUSTEES, RE1￿UNERATIoN AND BENEFITS There w¢r¢ no tNste¢5' remUn￿atIOn or other benefiis for the year ended 31 Mar¢h 2025 nor for the year ¢nded 31 Matrh 2024. Trustees. expensey There were no ttu8teu' exp￿SeS paid for the year ended 31 March 2025 nor for the year ended 31 Marth 2024. Page 9 continued.. THE MARCELLUS BAZ FOUNDATION OTE TO THE FINAN IAL sTATEmE￿S- contlnued FOR THE YEAR EIWED 31 MARCH 2025 COMPARATIVES FOR THE STATEMELYf OF FINANCIAL ACTIVITIES Unrestricted ftjnd R¢strirted fimd Total fimiLs INcoL￿ AND ENDOWMENTS FROM Donations and legacies 235,671 235,671 Ch&ritsble letivities Nottingham School of Boxing 30,818 30,818 To¢al 266.489 266,489 EXPENDITURE ON Cbarltable actlvltles Nottinglwn Sthool of Boxing 132262 132262 2262 2,262 Totsl 134,524 134,524 NET ￿COmE Transfers between funds 131,965 (450,IJ)O) 131.965 450,(K)O Net movement ID fllllds (318,035) 450.(K)O 131,965 RECONCILIATION OF FUNDS Total funds brought forward 377,623 377.623 TOTAL FufADS CARRIED FORWARD 59588 450.(K)O 509.588 INDEPENDENT EXAMINER'S FEES 31.3.25 31.3.24 2270 2,466 Page 10 ontinued... THE IIL4RCELLUS BAZ FOUNDATION N(YfES TO THE FINANCIAL sfATEMENTS- ¢onttDued FOR THE YEAR ENDED 31 MARCH 2025 GOVERNMENT GRANTS The charity received ￿5,900 from Mansfield Distrirt Council to provide boxing and dance sessions. all of which has b¢¢n account¢d for in defeLTed Inco￿¢. The charity has a 25 year lease with Mallsfi¢ld District Couttcil for a property which is u5eJJ lo d¢liver these sassions. A peppercom rcnt is payable. TANGIBLE FIXED ASSETS Sports equipm¢llt Comput¢r equipn]ent Totals COST At l April 2024 Additions 13,650 416 5.494 19,144 416 At 31 Ma￿h 2025 14,066 5,494 19,560 DEPRECIATIOIY At l April 2024 Charge for y¢8r 6,963 1,083 4,768 549 11,731 1,632 At 31 Mattb 2025 8.046 5,317 13,363 NET BOOK VALUE At 31 Marcb 2025 6.020 177 6,197 At 31 fvIarcb 2024 6.687 726 7.413 DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 31.3.25 31.3.24 Other d¢btors 143,983 195,635 io. CREDITORS: AKouwfs FALLING DUE IVITHIN ONE YEAR 31.3.25 31.3.24 Bank loans and overdrafts (see note I l) oth￿ creditors 135,181 8,326 38,170 38.170 143,507 Page 11 Colltinu￿... ELL ATI TQ THE FINANcIAL￿TATEME1￿f￿- coDttnued FOR THE YEAR ENDED 31 MARCE[ 2025 ii. LOANS An analysis of the n)att￿Lty of loans is given below.. 31.3.25 3 l.3.24 Amounts falling du¢ within on¢ year on d¢maniL. Bank overdrafts 135.181 12. Net mov¢m¢nt Trdnsfers between fimds At 31.3.25 At 1.4.24 Unrestrlct¢d funds Genet31 fund Th¢ Marc¢llus Baz Foundation Conrnunity Hub 59,588 147,734 207J22 4,033 450,(M)O 454,033 59,588 151,767 450,000 661,355 Restricted ￿ndS The Marcellus Baz Foundation Community Hub 450,0(Ki (450,(KIO) TOTAL FUIYDS 509.588 151,767 661,355 N¢t M0ven￿nt in fjJnd4 ill¢luded in lh¢ above are as follows: Resourr&s expended Movemettt in fLmds Unrestricted funds General fund The Marcellu5 Baz Foundatioll Hub 230521 (82.787) 147,734 4.033 4.033 234.554 {82,787) 151,767 TOTAL FUNDS 234.554 {82.787) 151.767 Page 12 continued... THE EL OT THE L STATE ENT FOR THE YEAR ENDED 31 IV CH 2025 Drfnue 12. MOVEME1￿ IN FufiDS. eontinued Comparatives lor movement ID fullds Net movement in funds Transfers b¢twe funds At 31.3.24 At 1.4.23 Ullrestricted funds Generdl fimd 377,623 131,965 (450.000) 59,588 Restrlcted fulld8 The Marcellus Baz Foundation COn]m￿ty Hub 450,0(M) 450,0(MJ TOTAL FUNDS 377,623 131,965 509,588 Compardtive net movement in fi￿d$, in¢luded in the above are as follows.. Incoming resources Resour¢a expended Movement in fjjnds Ullrejtricted funds General fund 266,489 {134,524) 131,965 TOTAL FUNDS 266.489 {134,524) 131,965 A cutrent year 12 months and prior year 12 Lnonths combined position 15 as follows: Nel movement in funds Transfers between fijnds At 31.3.25 At 1.4.23 Ullrestricted ￿lld5 General fiL]d The Marcellus Baz Foundation COMM￿Lty Hub 377,623 279,699 {450.0001 207,322 4,033 450,0(K) 454,033 377,623 283,732 661,355 TOTAL FUNDS 377,623 283,732 661.355 Page 13 continua... THE MARCELLUS BAZ FOUNDATION NOTES TO THE FINANQIAL STATEME_r