Examination of Financial Statements of the Inter-American Foundation for the 15-Month Period Ended September 30, 1976

The Inter-American Foundation is a wholly-owned government corporation created to: (1) strengthen bonds of friendship and understanding among the people of this hemisphere; (2) support, stimulate, and assist self-help efforts toward individual development; and (3) encourage appropriate democratic institutions in the individual countries. The Foundation attempts to meet the objectives by making grants to aid self-initiated efforts, generally by nongovernmental, nonprofit Latin American and Caribbean groups. The financial statements provided present fairly the financial position of the Foundation at September 30, 1976 and at June 30, 1975 and the results of its operations and the changes in fund balances for the periods then ended, in conformity with the principles and standards of accounting prescribed by the Comptroller General.