Current Financials

2017(1) 2016(1)
Assets
Cash and Cash Equivalents 2,611,992 2,232,499
Common and Preferred Stock, Government and Corporate Bonds 161,206,201 137,849,244
TOTAL CURRENT ASSETS 163,818,193 140,081,743
Property and Equipment  (2)
Net Property and Equipment for Office and Charitable Purposes 3,770,147 3,826,541
Other 21,101 21,101
TOTAL ASSETS 167,609,441 143,929,385
LIABLITIES AND NET ASSETS
Current Liabilities 6,300 5,672
Net Assets – Unrestricted 143,923,713 143,923,713
TOTAL LIABILITIES AND NET ASSETS 143,930,013 143,929,385
REVENUES
Net Investment Income 32,026,906 39,767,117
Miscellaneous 130,308 63,312
TOTAL REVENUES 32,157,214 39,830,429
EXPENSES
Grants and Grant-related Expenses Paid 7,097,174 6,458,255
Administrative Expense 1,090,613 1,032,401
Tax 290,000 110,000
TOTAL EXPENSES 8,477,787 7,600,656
CHANGE IN NET ASSETS 23,679,427 32,229,773
NET ASSETS, BEGINNING 143,923,713 111,693,940
NET ASSETS, ENDING 167,603,141 143,923,713
(1) These Condensed financial statements were derived from the full financial statements for the years ended December 31, 2017 and December 31, 2016 respectively. They were prepared on a modified cash basis of accounting, which is a comprehensive basis of accounting other than generally accepted accounting principles and were audited in accordance with generally accepted auditing standards.
(2) The Foundation is the owner of buildings and properties currently being occupied by various non-profit organizations as lessees.  These properties are used for educational and charitable purposes.