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Notes to Consolidated Financial Statements June 30, 2010 and 2009 (continued)

 The following table presents the Foundation’s fair value hierarchy for postretirement assets, which are mea-sured at fair value on a recurring basis, as of June 30, 2010 and 2009, respectively:

2010

Fair Value Level 1 Level 2 Level 3

Debt securities:

 Fixed income mutual fund $ 5,405,936 5,405,936 — —

 Corporate bonds 2,379,852 — 2,379,852 —

 U.S. government obligations 1,451,248 — 1,451,248 —

 Foreign bonds 159,913 — 159,913 —

 Other 60,865 — — 60,865

  Total debt securities 9,457,814 5,405,936 3,991,013 60,865

Equity securities:

 Equity mutual funds 25,152,162 25,152,162 — —

 U.S. common stock 4,378,105 4,378,105 — —

 Nonpublic equity funds 2,909,212 — — 2,909,212

 American Depositary Receipts 1,506,855 1,506,855 — —

 Other 619,895 619,895 — —

  Total equity securities 34,566,229 31,657,017 — 2,909,212

Short-term investments 1,962,188 — 1,962,188 —

$45,986,231 37,062,953 5,953,201 2,970,077

2009

Fair Value Level 1 Level 2 Level 3 Debt securities:

 Nonpublic fixed income funds $ 6,098,478 — 5,976,508 121,970  U.S. government obligations 2,128,043 2,128,043 — —  Other 117,878 117,878 — —   Total debt securities 8,344,399 2,245,921 5,976,508 121,970 Equity securities:

 U.S. common stock 12,494,091 12,494,091 — —  Equity mutual funds 3,650,332 3,650,332 — —  American Depositary Receipts 3,619,886 3,619,886 — —  Foreign common stock 1,641,206 1,641,206 — —  Other 68,693 68,693 — —   Total equity securities 21,474,208 21,474,208 — — Short-term investments 6,293,465 6,293,465 — —

$36,112,072 30,013,594 5,976,508 121,970

 Activity with respect to Level 3 plan assets for the year ended June 30 was as follows:

2010 2009 Balance at beginning

 of year $ 121,970 179,717 Purchases 3,210,579 64,366 Sales (271,970) (79,833) Unrealized loss (90,502) (42,280) Balance at end of year $2,970,077 121,970

 The recently approved healthcare reform law could have significant accounting consequences for entities in diverse industries. Specifically, there are several provisions in the new law that might affect the Founda­ tion’s measurement of its postretirement health bene-fit obligation. There are certain provisions (if applicable) that are generally expected to either increase or reduce an employer’s obligation. It is very difficult at this stage to measure the impact of some of these provi-sions on the Foundation’s obligations. The Foundation will continue to monitor developments, interpretations,