Consolidated Balance Sheets
Assets (in thousands of dollars)	June 30, 2005	June 30, 2004
Cash and cash equivalents	$       9,981	$       6,681
Grants and contracts receivable	12,317	11,924
Other receivables	22,749	27,327
Investments, at market	125,553	111,273
Trustee-held funds	12,614	14,347
Land, buildings and equipment,   net of accumulated depreciation   of $175,873 and $154,714	308,269	317,201
Deferred financing costs, net	12,804	13,343
Total assets	$ 504,287	$ 502,096
Liabilities and net assets (in thousands of dollars)	June 30, 2005	June 30, 2004
Accounts payable and accrued liabilities	$    42,120	$    37,738
Accrued payroll and related costs	18,441	15,218
Long-term debt and payable to government agencies	297,201	306,539
Deferred revenue	6,506	7,351
Total liabilities	364,268	366,846
Unrestricted net assets	105,979	100,982
Temporarily restricted net assets	22,808	22,728
Permanently restricted net assets	11,232	11,540
Total net assets	140,019	135,250
Total liabilities and net assets	$ 504,287	$ 502,096

Every private gift plays an essential role in helping to save lives, including:
	Research advances in prevention, early detection and treatment of cancer
	Breakthroughs for patients with leukemia, lymphoma, breast cancer, ovarian cancer, prostate cancer, AIDS and other life-threatening diseases
	Recruitment of the world's top scientists and physicians; lab facilities for these new reseachers
	Specialized technology that accelerates the pace of lifesaving breakthroughs
	The nation's top cancer-prevention research center, which empowers people worldwide with knowledge to stop cancer before it starts
	Housing, food and transportation assistance for patients and family members
*	The Northwest regional office of the National Cancer Institute's Cancer Information Service, which provides the latest cancer information to the public (1-800-4-CANCER or www.cancer.gov)

Fiscal year 2005 contributions received (in thousands of dollars)

Consolidated Statements of Activity
Revenues and other support (in thousands of dollars)	June 30, 2005	June 30, 2004
Research grants and contracts	$ 238,429	$ 217,297
Contributions, net of cost of special events of $1,077 and $938	32,084	29,789
Investment income and realized gains and losses	10,226	15,339
Other income	25,813	24,054
Total revenues	$ 306,552	$ 286,479
Expenses (in thousands of dollars)	June 30, 2005	June 30, 2004
Program services—research	$ 228,043	$ 203,410
Management and general	61,738	59,313
Fund raising	4,557	4,245
Total expenses	$ 294,338	$ 266,968
Change in net assets from operations	12,214	19,511
Changes in net assets from financing activities and extraordinary gain	(7,445)	22,204
Total increase (decrease) in net assets	4,769	41,715
Net assets balance at beginning of year	135,250	93,535
Net assets balance at end of year	$140,019	$135,250

Major direct sources of support (in millions of dollars)

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