Current Financials

 

 2019 (1)  2018 (1)
ASSETS
Cash and Cash Equivalents 1,353,410 2,567,695
Common and Preferred Stock, Government and Corporate Bonds      164,061,881         133,697,199
Property & Equipment for Office and Charitable Purposes (net) (2)           3,716,081             3,728,614
Other Assets                 20,400                   20,400
TOTAL ASSETS  169,151,772  140,013,908
LIABILITIES AND NET ASSETS
Current Liabilities                     –                       –
Net Assets – Unrestricted      169,151,772         140,013,908
TOTAL LIABILITIES AND NET ASSETS  169,151,772  140,013,908
REVENUES
Investment Income (Loss), net  37,905,164  (18,982,575)
Other Income                 64,255                   64,605
TOTAL REVENUES  37,969,419  (18,917,970)
EXPENSES
Grants  7,249,298 7,046,550
Administrative Expenses          1,281,997           1,261,048
Fees for Real Estate held for Charitable Purposes      282,260          167,665
Federal Excise Taxes                18,000                196,000
TOTAL EXPENSES  8,831,555  8,671,263
CHANGE IN NET ASSETS     29,137,864        (27,589,233)
NET ASSETS, BEGINNING     140,013,908       167,603,141
NET ASSETS, ENDING 169,151,772 140,013,908
(1) These condensed financial statements were derived from the full financial statements for the years ended December 31, 2019 and December 31, 2018, 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.