Masonic Homes Financial Statement for 1997

Condensed Statements of Unrestricted Activites for the years ended December 31, 1997 and 1996
(Dollars in thousands)

The operating expenses of the Masonic Homes have historically exceeded our operating revenues. Through the generosity of Freemasons and friends of the Fraternity, contributions and bequests enable us to cover this deficit. The bequests which have been generously donated to the Masonic Homes have been invested and the investment income earned on these funds allows us to continue and expand our "mission of love." Any excess of revenues over expenses (after these nonoperating revenues are applied) are reinvested so we can continue to meet the Fraternity's needs via capital improvements and expanded services to our residents.

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