2024 (1)  2023 (1) 
ASSETS    
Cash and Cash Equivalents $1,289,041  $503,576
Common and Preferred Stock, Government and Corporate Bonds 172,571,054   193,275,476
     
     
Property & Equipment for Office and Charitable Purposes (net) (2) 4,378,176   4,237,603
     
Other Assets 20,400 20,400
     
TOTAL ASSETS $178,258,671   $198,037,055
     
     
LIABILITIES AND NET ASSETS    
Current Liabilities  $     $ -  
Net Assets - Unrestricted 178,258,671   198,037,055
TOTAL LIABILITIES AND NET ASSETS $178,258,671  $198,037,055
     
     
     
REVENUES    
Investment Income (Loss), net $(7,625,489)  $22,244,935
Other Income 61,731   345,982
TOTAL REVENUES $(7,563,758)  $22,590,917
     
EXPENSES    
Grants  $10,116,088  $9,724,318
Administrative Expenses 1,707,010   1,375,362
Fees for Real Estate held for Charitable Purposes 225,028   230,197
Federal Excise Taxes 166,500   179,600
TOTAL EXPENSES $12,214,626  $11,509,477
     
CHANGE IN NET ASSETS (19,778,384)   11,081,440
NET ASSETS,BEGINNING 198,037,055   186,955,615
NET ASSETS, ENDING $178,258,671  $198,037,055

(1) These condensed financial statements were derived from the full financial statements for the years ended December 31, 2024 and December 31, 2023, 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.