
Financial Review
Assets | 2018 | 2017 |
---|---|---|
Cash & Cash Equivalents | $201,774 | $143,823 |
Interest & Dividends Receivable | 1,242 | 435 |
Receivable from Brokers | 108,803 | 136,446 |
Investments, at fair value | 163,981,970 | 185,054,881 |
Other Assets | 37,389 | 37,630 |
Property and Equipment, net | 8,127 | 11,547 |
Total Assets | 164,339,305 | 185,384,762 |
Liabilities & Net Assets | ||
Accounts payable to brokers and others | $61,971 | $55,680 |
Deferred excise tax liability | 5,229 | 200,402 |
Contributions Payable, net | 2,880,160 | 576,415 |
Total Liabilities | 2,947,360 | 832,497 |
Net Assets: | ||
Without Donor Restrictions | 158,406,945 | 181,140,861 |
With Donor Restrictions | 2,985,000 | 3,411,404 |
Total Net Assets | 161,391,945 | 184,552,265 |
Total Liabilities and Net Assets | $164,339,305 | $185,384,762 |
Revenues, Gains and Other Support | 1/1- 12/31/18 | 1/1- 12/31/17 |
---|---|---|
Beginning Net Assets: | 184,552,265 | 166,985,601 |
Ending Net Assets: | 161,391,945 | 184,552,265 |
Grants Received | 0 | 2,650 |
Interest | 1,641,510 | 1,447,600 |
Dividends | 2,054,604 | 2,189,529 |
Net realized and unrealized gains on investments | -14,646,521 | 23,723,662 |
Other investment income (loss) | 129,723 | 1,723,500 |
Total Revenues | -10,820,684 | 29,084,291 |
Program Expense: | ||
Charitable Contributions | 9,800,545 | 8,220,254 |
Salaries and benefits | 591,230 | 572,624 |
Professional Fees | 52,208 | 47,148 |
Occupancy | 125,231 | 130,403 |
Other program administration costs | 37,503 | 43,049 |
Total Program Expense | 10,606,717 | 9,013,478 |
General & Administration: | ||
Financial Counseling fees | 1,525,385 | 1,984,197 |
Salaries and benefits | 187,299 | 187,384 |
Professional Fees | 27,009 | 28,952 |
Occupancy | 26,983 | 28,098 |
Other program administration costs | 9,443 | 9,275 |
Federal Excise tax expense | -43,200 | 268,893 |
Total General and Administrative Expenses | 1,732,919 | 2,506,799 |
Total Expenses | 12,339,636 | 11,520,277 |
Change in net assets: | (23,160,320) | 17,566,664 |