Consolidated Balance Sheets
Assets (in thousands of dollars)	June 30, 2004	June 30, 2003
Cash and cash equivalents	$       6,681	$       9,994
Grants and contracts receivable	11,924	7,013
Other receivables	27,327	11,561
Investments, at market	111,273	89,868
Trustee-held funds	14,347	61,514
Land, buildings and equipment,   net of accumulated depreciation   of $154,714 and $136,724	317,201	275,392
Deferred financing costs, net	13,343	13,635
Total assets	$ 502,096	$ 468,977
Liabilities and net assets (in thousands of dollars)	June 30, 2004	June 30, 2003
Accounts payable and accrued liabilities	$    37,738	$    49,587
Accrued payroll and related costs	15,218	13,492
Long-term debt and payable to government agencies	306,539	306,655
Deferred revenue	7,351	5,708
Total liabilities	366,846	375,442
Unrestricted net assets	100,982	75,235
Temporarily restricted net assets	22,728	11,536
Permanently restricted net assets	11,540	6,764
Total net assets	135,250	93,535
Total liabilities and net assets	$ 502,096	$ 468,977

The generosity of private contributors helped support:
	Seed money for new developments in cancer research, including early detection, prevention, diagnosis and treatment
	Funding for studies of leukemia, lymphoma, breast cancer, ovarian cancer, prostate cancer, AIDS, and other related diseases
	Housing, food and transportation for patients and family members through the Family Assistance Fund
	Postdoctoral and oncology fellowships for new scientists
	Research equipment
	Up-to-date cancer information for the public through the Cancer Information Service (1-800-4-CANCER)

Fiscal year 2004 contributions received (in thousands of dollars)

Consolidated Statements of Activity
Revenues and other support (in thousands of dollars)	June 30, 2004	June 30, 2003
Research grants and contracts	$ 217,297	$ 209,310
Contributions, net of cost of special events of $938 and $740	29,789	20,097
Investment income and realized gains and losses	15,339	1,043
Other income	24,054	18,512
Total revenues	$ 286,479	$  48,962
Expenses (in thousands of dollars)	June 30, 2004	June 30, 2003
Program services—research	$ 198,338	$ 187,073
Management and general	64,385	54,684
Fund raising	4,245	3,500
Total expenses	$ 266,968	$ 245,257
Change in net assets from operations	19,511	3,705
Changes in net assets from financing activities and extraordinary gain	22,204	(17,404)
Total increase (decrease) in net assets	41,715	(13,699 )
Net assets balance at beginning of year	93,535	107,234
Net assets balance at end of year	$135,250	$ 93,535

Major direct sources of support (in millions of dollars)

	Financial Summary
	From the Board
	Message from the President and Director
	People Making a Difference