EFTA01125910.pdf

CASHFLOW UPDATE Oct 24th TRUSTS Lue BFP APO1 APOZ LOB 2014 current BofA balance $12.7mil 2.Smil current balance $7.5mil current bal $6.3mil $5.7mil 1PM balance 10.Omil 69.Smil APO dist 11/30 $.75 /sh 7.Omil 1DB 2011 bal 12/4 annuity 39.0mil (70.0m11) pre annuity dist to LPs 12/3 (2mill art purchases 4Q household (3.0mill 5.6mil APO dist 12/15 $0.07 (2.7mi1) Phaidon/RA••• (11.3mi1) Phaidon/RA• • • charitable contrib• (10mil) (.6mil) FO expenses (3.5mil) 4Q Phaidon/RA (0.3mi1) 4Q ArtSpace int payment to AP01 3.2mil Heritage payment 8.75mi1 12/3 BFP dist S.Omil 12/3 BEP dist 14.Omil repay of Phaidon line by Trusts 7mi1 12/31 int pay from LB 12/31 proj balance 41.7mil 24.1mil 13.3m11 3.45mi1 10.7mil 1Qhousehold (3mil) 1C1loan int (1.6mil) 16mil Timber sale proceeds (2m11) 1C1 townhouse 1QArtspace 1/15/2015 est taxes (37mil) (10mil) FCI cap call ?timing" (7mi1) 5H 1/24 annuity 16.Omil (5mil) COF III cap call ?timing Townhouse IQ (lmil) (.8mil) FO expenses Boat/plane (2mil) 42.6mil APO dist 2/28/15 $).46/sh 3/3 annuity 27.5mil (42mil) pre annuity distribution 5.325mil BFP dist 3.0mil BFP dist bal of int pay to AP01 (10mil) 10mil bal of int pay from LB 3/31/15 proj bal 30.6mi1 24.8m11 21.3mi1 (0.8mil) 13.0mll Townhouse 2Q (2mil) 25mi1 TRA/Gross up (4mil) 20 townhouse (lrna) ArtSpace April 15 tax (17mil) use taxes (5.0mill proj 4/16 bal 6.6mil 49.8mil (40rnil) Athene cap call 2H15 $11mil COF dist of bal ?timing (8mi1) Miami - Dec '15 potential addl - art sale proceeds 4Q Phaidon/RA represents immediate working cap need in 4014 'assumes $7mi1Dartmouth pledge is Pd in stock • • *cash infusion from trusts to pay off existing credit facility plus check: $5mi1 to MOMA, $3.5mil to MRA,misc yr end gifts and transition to direct funding from the Trusts thru PL8 • • some chance of FCI cap call in 4014 rather than 1Q1S if portfolio acq is consumated Townhouse CAM Acct funded with $3mi1 for 1Q and $6mil for 2Q remember gets funded 1/3 LDB 2/3 APO1 other cash-Oebra B of A $6.7mil 1PM 6.Omil EFTA01125910