Financial Reviews

2022 Statements of Consolidated Financial Position
Assets 2022 2021
Cash and Cash Equivalents $954,599  $2,023,487
Investments 182,890,790 203,960,589
Investment-Related Receivables 581 20,238,617
Property and Equipment (Net) 1,429 2,455
Right of Use Asset (Net) 1,185,872 1,320,122
Prepaid Expenses and Other Assets 125,078 45,092
Total Assets $185,158,349 $227,590,362
Liabilities and Net Assets
Liabilities:
Accounts Payable and Accrued Expenses $52,965 $60,747
Grants Payable (Net) 464,242 1,194,314
Deferred Excise Tax Liability 212,632 630,772
Lease Liability 1,504,544 1,620,115
Total Liabilities 2,234,383 3,505,948
Net Assets:
Without Donor Restrictions 179,867,710 220,303,921
With Donor Restrictions 3,056,526 3,780,493
Total Net Assets 182,923,966 224,084,414
Total Liabilities and Net Assets 185,158,349 $227,590,362
Consolidated Statement of Activities
Revenues and Gains (Losses) 2022 2021
Net Assets – Beginning of Year: $224,084,414 $205,484,983
Net Assets – End of Year: $182,923,966 $224,084,414
Investment Return (Net) -32,406,748 29,529,479
Other Income 4,372 3,319
Total Revenues and Gains (Losses) -32,402,376 29,532,798
Expenses    
Program Services 8,832,945 10,248,099
Management and General -74,873 685,268
Total Expenses 8,758,072 10,933,367
Change in Net Assets -41,160,448 18,599,431
2021 Statements of Consolidated Financial Position
Assets 2021 2020
Cash and Cash Equivalents $2,023,487 $430,867
Investments 203,960,589 207,539,205
Investment-Related Receivables 20,238,617 673
Property and Equipment (Net) 2,455 2,750
Right of Use Asset (Net) 1,320,122 1,431,996
Prepaid Expenses and Other Assets 45,092 46,998
Total Assets $227,590,362 $209,452,489
Liabilities and Net Assets
Liabilities:
Accounts Payable and Accrued Expenses $60,747 $200,768
Grants Payable (Net) 1,194,314 1,514,594
Deferred Excise Tax Liability 630,772 543,255
Lease Liability 1,620,115 1,708,889
Total Liabilities 3,505,948 3,967,506
Net Assets:
Without Donor Restrictions 220,303,921 201,967,819
With Donor Restrictions 3,780,493 3,517,164
Total Net Assets 224,084,414 205,484,983
Total Liabilities and Net Assets $227,590,362 $209,452,489
Consolidated Statement of Activities
Revenues and Gains (Losses) 2021 2020
Net Assets – Beginning of Year: $205,484,983 $183,004,312
Net Assets – End of Year: $224,084,414 $205,484,983
Investment Return (Net) 29,529,479 32,009,242
Other Income 3,319 1,199
Total Revenues and Gains (Losses) 29,532,798 32,010,441
Expenses    
Program Services 10,248,099 8,800,944
Management and General 685,268 728,826
Total Expenses 10,933,367 9,529,770
Change in Net Assets 18,599,431 22,480,671
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