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6. Deferred contributions - expenses of future periods:

Deferred contributions related to expenses of future periods represent the unspent balance in the Fund that is restricted for disbursement to eligible sustainable development technology projects and operations of the Foundation, as defined in the Funding Agreements. The change in the deferred contributions balance is as follows::

NextGen SD Tech Biofuels

December 31, 2012 Fund Fund Total

Balance, beginning of year $ 296,939 $ 62,637 $ 359,576 Interest income and amortization of

discounts (premiums) on bonds 3,932 630 4,562 Less amount recognized as revenue (78,286) (1,991) (80,277) Less investment fund management fees (262) (58) (320) (78,548) (2,049) (80,597) Balance, end of year $ 222,323 $ 61,218 $ 283,541

NextGen SD Tech Biofuels

December 31, 2011 Fund Fund Total

Balance, beginning of year $ 383,390 $ 63,356 $ 446,746 Investment income 8,762 511 9,273 Unrealized gain (loss) on investments (1,283) 286 (997) 390,869 64,153 455,022 Less amount recognized as revenue (93,586) (1,443) (95,029) Less investment fund management fees (344) (73) (417) (93,930) (1,516) (95,446) Balance, end of year $ 296,939 $ 62,637 $ 359,576

During the year, no other funding or donations were provided to the Foundation.

Notes to Financial Statements 33

Notes to Financial Statements

Years ended December 31, 2012 and 2011 (Amounts in Thousands of Dollars unless otherwise noted)

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