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.