Financial Reviews

2020 Statements of Consolidated Financial Position
Assets 2020 2019
Cash and Cash Equivalents $430,867 $296,152
Investments 207,539,205 181,463,644
Investment-Related Receivables 673 3,401,764
Property and Equipment (Net) 2,750 4,983
Right of Use Asset (Net) 1,431,996 1,497,745
Prepaid Expenses and Other Assets 46,998 91,159
Total Assets 209,452,489 186,755,447
Liabilities and Net Assets
Liabilities:
Accounts Payable and Accrued Expenses $200,768 $21,262
Grants Payable (Net) 1,514,594 1,740,657
Deferred Excise Tax Liability 543,255 311,805
Lease Liability 1,708,889 1,677,411
Total Liabilities 3,967,506 3,751,135
Net Assets:
Without Donor Restrictions 201,967,819 179,591,155
With Donor Restrictions 3,517,164 3,413,157
Total Net Assets 205,484,983 183,004,312
Total Liabilities and Net Assets $209,452,489 $186,755,447
Consolidated Statement of Activities
Revenues and Gains (Losses) 2020 2019
Net Assets – Beginning of Year: 183,004,312 161,391,945
Net Assets – End of Year: 205,484,983 183,004,312
Investment Return (Net) 32,009,242 30,175,241
Other Income 1,199 3,582
Total Revenues and Gains (Losses) 32,010,441 30,178,823
Expenses    
Program Services 8,800,944 7,926,575
Management and General 728,826 639,881
Total Expenses 9,529,770 8,566,456
Change in Net Assets 22,480,671 21,612,367
2019 Statements of Consolidated Financial Position
Assets 2019 2018
Cash and Cash Equivalents  $296,152 $201,774
Investments 181,463,644 163,981,970
Investment-Related Receivables 3,401,764 110,045
Property and Equipment (Net) 4,983 8,127
Right of Use Asset (Net) 1,497,745
Prepaid Expenses and Other Assets 91,159 37,389
Total Assets 186,755,447 164,339,305
Liabilities and Net Assets
Liabilities:
Accounts Payable and Accrued Expenses $21,262 $61,971
Grants Payable (Net) 1,740,657 2,880,160
Deferred Excise Tax Liability 311,805 5,229
Lease Liability 1,677,411
Total Liabilities 3,751,135 2,947,360
Net Assets:
Without Donor Restrictions 179,591,155 158,406,945
With Donor Restrictions 3,413,157 2,985,000
Total Net Assets 183,004,312 161,391,945
Total Liabilities and Net Assets $186,755,447 $164,339,305
Consolidated Statement of Activities
Revenues and Gains (Losses) 2019 2018
Net Assets – Beginning of Year: 161,391,945 184,552,265
Net Assets – End of Year: 183,004,312 161,391,945
Investment Return (Net) 30,175,241 (12,346,069)
Other Income 3,582
Total Revenues and Gains (Losses) 30,178,823 (12,346,069)
Expenses    
Program Services 7,926,575 10,606,717
Management and General 639,881 207,534
Total Expenses 8,566,456 10,814,251
Change in Net Assets 21,612,367 -23,160,320
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