FOR THE YEAR ENDED December 31, 2019 |
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| Without Donor Restrictions | With Donor Restrictions | Total | ||
Revenues and Other Support |
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| Contributions | $85,340 | $616 | $85,956 | |
| Investment income, net | 1,924,717 | 1,792,842 | 3,717,559 | |
| Beneficial trust income | 65,591 | 65,591 | ||
| Net realized and unrealized losses | 10,799,269 | 10,628,881 | 21,428,150 | |
| Unrealized gain (loss) on interest in perpetual trust | - | (30,880) | (30,880) | |
| 12,809,326 | 12,487,930 | 25,266,376 | ||
Net assets released from restrictions |
2,912,972 | (2,912,972) | - | |
Total revenues and other support |
15,722,298 | 9,574,958 | 25,266,376 | |
Expenses |
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| Grants and distributions | 5,641,187 | - | 5,641,187 | |
| Administrative and general expenses | ||||
| Salaries | 736,994 | - | 736,994 | |
| Purchased services | 90,277 | - | 90,277 | |
| Employee benefits | 155,049 | - | 155,049 | |
| Supplies and office expenses | 66,762 | - | 66,762 | |
| Payroll taxes | 44,286 | - | 44,286 | |
| Other expenses | 39,930 | - | 39,930 | |
| Depreciation | 832 | - | 832 | |
| Total administrative and general expenses | 1,134,130 | - | 1,134,130 | |
Total expenses |
6,775,317 | - | 6,775,317 | |
Change in net assets |
8,946,981 | 9,544,078 | 18,491,059 | |
Net assets, beginning of year |
60,866,350 | 68,637,546 | 129,503,896 | |
Reclassification of net assets, |
252,995 | (252,995) | ||
Net assets, end of year |
$70,066,326 | $77,928,629 | $147,994,955 | |
FROM GRANTMAKER TO CHANGEMAKER™