2021 (1)  2020 (1) 
ASSETS    
Cash and Cash Equivalents $637,735 $1,768,828
Common and Preferred Stock, Government and Corporate Bonds 216,212,732 185,301,164
     
     
Property & Equipment for Office and Charitable Purposes (net) (2) 3,667,507 3,672,638
     
Other Assets 20,400 20,400
     
TOTAL ASSETS $220,538,374 $190,763,030
     
     
LIABILITIES AND NET ASSETS    
Current Liabilities  $ -    $ -  
Net Assets - Unrestricted 220,538,374 190,763,030
TOTAL LIABILITIES AND NET ASSETS $220,538,374 $190,763,030
     
     
     
REVENUES    
Investment Income (Loss), net $40,840,515 $31,475,828
Other Income 33,085 44,897
TOTAL REVENUES $40,873,600 $31,520,725
     
EXPENSES    
Grants  $9,313,422 $8,322,769
Administrative Expenses 1,362,494 1,178,740
Fees for Real Estate held for Charitable Purposes 231,635 115,658
Federal Excise Taxes 190,705 292,300
TOTAL EXPENSES $11,098,256 $9,909,467
     
CHANGE IN NET ASSETS 29,775,344 21,611,258
NET ASSETS,BEGINNING 190,763,030 169,151,772
NET ASSETS, ENDING $220,538,374 $190,763,030

(1) These condensed financial statements were derived from the full financial statements for the years ended December 31, 2021 and December 31, 2020, 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.