Carol A. Cashman, CPA
4245 North Central Expressway
Suite 505
Dallas, Texas  75205

 

To the Directors of the
Harry W. Bass Jr. Foundation

I have compiled the accompanying Statement of Assets, Liabilities and Owners Equity as of December 31, 2008 and 2007 and the Statement of Cash Receipts and Disbursements for the years then ended prepared on a tax basis for the Harry W. Bass Jr. Foundation (Foundation) in accordance with the statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. The Statement of Assets, Liabilities and Owners Equity and the Statement of Cash Receipts and Disbursements have been prepared on a tax basis which is a comprehensive basis of accounting other than generally accepted accounting principles.

A compilation is limited to presenting in the form of financial statement information that is the representation of the directors.  I have not audited or reviewed the accompanying financial information, and accordingly, do not express an opinion or any other form of assurance on them.

The directors have elected to omit substantially all of the disclosures ordinarily included in the Statement of Assets, Liabilities and Owners Equity and the Statement of Cash Receipts and Disbursements.  If the omitted disclosures were included, they might influence the user's conclusions about the assets, liabilities and owners equity and the cash receipts and disbursements.  Accordingly, the information included in these statements is not designed for those who are not informed about such matters.

I am not independent with regard to Harry W. Bass Foundation.

Carol A. Cashman, CPA
March 10, 2009


Financials

Statement of Revenues and Expenses
Estimated Fair Value Basis for the Twelve Months Ending December 31, 2008
                                                                     (Unaudited)

Year to Date
Current Year

Revenues
Interest Income
 2,157
Dividend Income
 941,132
Other Income
 3,390
Total Revenues
 946,679
Realized Loss on Sale of Securities
 (1,961,218)
 


Expenses
 
Foreign Taxes
 2,877
 
General & Administrative
 370,604
Brokerage Fees
 121,046
Contributions to Charitable Activities
 1,531,417
Total Expenses
 2,025,944
Expenses in excess of Revenues before prior year's federal income tax
 (3,040,483)
Prior Year Federal Income Tax
 107,409
Expenses in excess of Revenues after prior year's federal income tax
(3,147,892)
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