Examination of Financial Statements of the Inter-American Foundation for Fiscal Years Ended September 30, 1978 and 1977

An examination was conducted of the statement of financial condition of the Inter-American Foundation, a U.S. corporation, as of September 30, 1978 and 1977, and the related statements of investment of the U.S. Government, grant disbursements, and administrative expenses. Also reviewed were changes in financial position for the fiscal year then ended. The Foundation was established to provide support for development activities designed to achieve improved conditions for Latin Americans and Caribbeans. The financial statements present fairly the financial position of the Foundation, the results of its operations, and the changes in its financial postion for the years then ended, in conformity with generally accepted accounting principles.