EFTA02677282.pdf

CASHFLOW UPDATE - Oct 24th TRUSTS IQ! BFP APO1 APOZ LOB 2014 current BofA balance $12.7mi1 2.5mil current balance $7.5mil current bal $6.3mll $5.7mí1 1PM balance 10.Omil 69.5mil APO dist 11/30 $.75 /sh 7.0mil LOB 2011 bal 12/4 annuity 39.0mil (70.0mil) pre annuity dist to LPs 12/3 (2mi1) art purchases 4Q household (3.Omil) 5.6mil APO dist 12/15 $0.07 (2.7mil) Phaidon/RA••• (11.3mi1) Phaidon/RA••• charitable contrib• (10mí1) (.6mi1) FO expenses (3.5mil) 4Q Phaidon/RA (0.3mil) 4Q ArtSpace int payment to AP01 (7mi1) 3.2mi1 Heritage payment 8.75mil 12/3 BFP dist 5.0mil 12/3 BFP dist 14.0mí1 repay of Phaidon line by Trusts 7mí1 12/31int pay from LB 12/31proj balance 41.7mil 24.1mí1 13.3m11 3.45mi1 10.7mil 1Qhousehold (3mi1) IQ loan int (1.6mi1) 16mil Timber sale proceeds (2m11) IQ townhouse (lmil) 10Artspace 1/15/2015 est taxes (37mil) (10mil) FCI cap call ?timing•• (7mi1) 5H 1/24 annuity 16.0mil (Smil) COF Ill cap call ?timing Townhouse 10 (1mí1) (.8mi1) FO expenses Boat/plane (2mi1) 42.6mi1 APO dist 2/28/15 $).46/sh 3/3 annuity 27.5mil (42mi1) pre annuity distribution 5.325mil BFP dist 3.0mi1 BFP dist bal of int pay to APO1 (10mil) 10mil bal of int pay from LB 3/31/15 proj bal 30.6mí1 24.8m11 213mil (0.8m11) 13.0mil Townhouse 2Q (2mí1) 25mi1 TRA/Gross up (4m11) 2Q townhouse (lmil) ArtSpace April 15 tax (17mil) use taxes (5.0mí1) proj 4/16 baL 6.6mi1 49.8mí1 (40mil) Athene cap call 2H15 $11mil COF dist of bal ?timing (8mi1) Miami - Dec .15 potential addl - art sale proceeds 4CIPhaidon/RA represents immediate working cap need in 4414 •assumes $7mi1 Dartmouth pledge is pd in stock ••'cash infusion from trusts to pay off existing credit facility plus check: 55mil to MOMA, $3.5m11 to MftikrnIsc yr end gifts and transition to direct funding from the Trusts thru PLB • • some chance of FCI cap call in 4Q14 rather than 1015 if portfolio acq is consumated Townhouse CAM Acct funded with $3mi1 for 10 and $6mil for 20 remember gets funded 1/3 LOB 2/3 APO1 other cash-Debra B of A $6.7mil 1PM 6.0mil SU 116 LO- La V133 EFTA02677282