As of April 30, 2009, the Alcor Patient Care Trust Fund has assets of
3.05 million dollars, invested as follows:
* The Patient Care Trust owns just over 75% of the shares in
Cryonics Properties, LLC, the limited liability company that owns the
Alcor building (all other shares are owned by Alcor members). These
shares (representing the Trust’s equity in the Alcor building) are
valued at approximately $470,000 based on the original purchase price
of the building (they would be higher at current market value). The
Trust also owns the mortgage on the building, valued at about
$280,000. Alcor pays rent to Cryonics Properties, LLC. Since Alcor
does not occupy the entire building, there are additional tenants who
also pay rent, which provides some additional income for the Patient
Care Trust.
* Capital equipment (primarily dewars) and leasehold improvements
(capital improvements to the Patient Care Bay) valued at
approximately $610,000. These are carried on the books and subject to
depreciation, but are not assets that would be liquidated.
* A cash account in which income (other than investment account
income) is placed, expenses are disbursed, and money is transferred
to the investment account. On the above date it contained about
$200,000 but generally contains on the order of $100,000. In
addition, on the above date the Accounts Receivable totaled $70,000.
* An investment account held at the firm of Morgan Stanley,
containing about $1.42 million. Thus far, no withdrawals from this
account have ever been made.
The balance and investment summary of the Patient Care Trust Morgan
Stanley Investment Account is now being posted monthly on the Alcor
website.
To read more, click here: http://www.alcor.org/AboutAlcor/patientcaretrustfund.html
