Notes to Financial Statements

1. The statements of the Hudson-Webber Foundation have been prepared on the accrual basis of accounting.
2. Investments in marketable securities have been stated at market value at December 31, 2010.
3. Conditional grant commitments totaling $4,307,675 were outstanding at December 31, 2010.  These will not be recognized as liabilities until the conditions on which they depend are substantially met.

Complete financial statements audited by Plante & Moran and the 990PF tax return are maintained in the office of the Foundation and are available upon request.