|
|
2020 (1) |
2019 (1) |
|
ASSETS |
|
|
|
Cash and Cash Equivalents |
$ 1,768,828 |
$ 1,353,410 |
|
Common and Preferred Stock, Government and Corporate Bonds |
185,301,164 |
164,061,881 |
|
Property & Equipment for Office and Charitable Purposes (net) (2) |
3,672,638 |
3,716,081 |
|
Other Assets |
20,400 |
20,400 |
|
TOTAL ASSETS |
$ 190,763,030 |
$ 169,151,772 |
|
LIABILITIES AND NET ASSETS |
|
|
|
Current Liabilities |
$ - |
$ - |
|
Net Assets - Unrestricted |
190,763,030 |
169,151,772 |
|
TOTAL LIABILITIES AND NET ASSETS |
$ 190,763,030 |
$ 169,151,772 |
|
REVENUES |
|
|
|
Investment Income (Loss), net |
$ 31,475,828 |
$ 37,905,164 |
|
Other Income |
44,897 |
64,255 |
|
TOTAL REVENUES |
$ 31,520,725 |
$ 37,969,419 |
|
EXPENSES |
|
|
|
Grants |
$ 8,322,769 |
$ 7,249,298 |
|
Administrative Expenses |
1,178,740 |
1,281,997 |
|
Fees for Real Estate held for Charitable Purposes |
115,658 |
282,260 |
|
Federal Excise Taxes |
292,300 |
18,000 |
|
TOTAL EXPENSES |
$ 9,909,467 |
$ 8,831,555 |
|
CHANGE IN NET ASSETS |
21,611,258 |
29,137,864 |
|
NET ASSETS,BEGINNING |
169,151,772 |
140,013,908 |
|
NET ASSETS, ENDING |
$ 190,763,030 |
$ 169,151,772 |
(1) These condensed financial statements were derived from the full financial statements for the years ended December 31, 2020 and December 31, 2019, 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.