Current Financials

2018(1) 2017(1)
Assets
Cash and Cash Equivalents 2,567,695 2,611,992
Common and Preferred Stock, Government and Corporate Bonds 133,697,199  161,206,201
TOTAL CURRENT ASSETS 136,264,894  163,818,193
Property and Equipment  (2)
Net Property and Equipment for Office and Charitable Purposes 3,728,614  3,770,147
Other 20,400 21,101
TOTAL ASSETS 140,013,908  167,609,441
LIABLITIES AND NET ASSETS
Current Liabilities 0 6,300
Net Assets – Unrestricted 140,013,908 167,603,141
TOTAL LIABILITIES AND NET ASSETS 140,013,908 167,609,441
REVENUES
Net Investment Income (18,982,575)   32,040,740
Miscellaneous 64,605 116,475
TOTAL REVENUES (18,917,970)  32,157,215
EXPENSES
Grants and Grant-related Expenses Paid 7,046,550 6,884,334
Administrative Expense 1,261,048  1,090,613
Fees for Properties Maintained for Charitable Purposes 167,665 212,840
Tax 196,000 290,000
TOTAL EXPENSES 8,671,263  8,477,787
CHANGE IN NET ASSETS (27,589,233)  23,679,428
NET ASSETS, BEGINNING 167,603,141  143,923,713
NET ASSETS, ENDING 140,013,908  167,603,141
(1) These Condensed financial statements were derived from the full financial statements for the years ended December 31, 2018 and December 31, 2017 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.