Financial Reviews

2023 Statement of Financial Position
Assets 2023
Cash and Cash Equivalents $5,844,919
Investments 260,855,784
Investment Sales Receivable 1,612,232
Prepaid Expenses and Other Assets 213,239
Beneficial Interest in Charitable Remainder Trusts 7,808,500
Total Assets $276,334,674
Liabilities and Net Assets
Liabilities:
Accounts Payable and Accrued Expenses $100,992
Grants Payable 1,350,000
Total Liabilities 1,450,992
Net Assets:
Without Donor Restrictions 267,075,182
With Donor Restrictions 7,808,500
Total Net Assets 274,883,682
Total Liabilities and Net Assets $276,334,674
Statement of Activities
Revenues and Gains (Losses) 2023
Net Assets – Beginning of Year: $256,250,927
Net Assets – End of Year: $274,883,682
Investment Return (Net) $27,117,565
Change in Value of Beneficial Interest in Charitable Remainder Trusts 542,156
Other Income 36,948
Total Revenues and Gains (Losses) 27,696,669
Expenses
Program Services 8,613,413
Management and General 450,501
Total Expenses 9,063,914
Change in Net Assets 18,632,755
2022 Statement of Financial Position
Assets 2022
Cash and Cash Equivalents $3,716,275
Investments 250,919,613
Investment Sales Receivable 218,293
Prepaid Expenses and Other Assets 156,174
Beneficial Interest in Charitable Remainder Trusts 7,266,344
Total Assets $262,276,699
Liabilities and Net Assets
Liabilities:
Accounts Payable and Accrued Expenses  $237,128
Grants Payable 5,788,644
Total Liabilities 6,025,772
Net Assets:
Without Donor Restrictions 248,984,583
With Donor Restrictions 7,266,344
Total Net Assets 256,250,927
Total Liabilities and Net Assets $262,276,699
Statement of Activities
Revenues and Gains (Losses) 2022
Net Assets – Beginning of Year: $303,438,934
Net Assets – End of Year: $256,250,927
Investment Return (Net) ($41,832,028)
Change in Value of Beneficial Interest in Charitable Remainder Trusts (775,691)
Other Income
Total Revenues and Gains (Losses) (42,607,719)
Expenses
Program Services 3,961,562
Management and General 618,726
Total Expenses 4,580,288
Change in Net Assets (47,188,007)
2021 Statement of Financial Position
Assets 2021
Cash and Cash Equivalents $13,948,707
Investments 294,356,096
Investment Sales Receivable 394,001
Prepaid Expenses and Other Assets 72,153
Beneficial Interest in Charitable Remainder Trusts 8,042,035
Total Assets 316,812,992
Liabilities and Net Assets
Liabilities:
Accounts Payable and Accrued Expenses $76,918
Grants Payable 13,297,140
Total Liabilities 13,374,058
Net Assets:
Without Donor Restrictions 292,286,348
With Donor Restrictions 11,152,586
Total Net Assets 303,438,934
Total Liabilities and Net Assets $316,812,992
Statement of Activities
Revenues and Gains (Losses) 2021
Net Assets – Beginning of Year: $261,269,126
Net Assets – End of Year: $303,438,934
Investment Return (Net) $50,291,608
Change in Value of Beneficial Interest in Charitable Remainder Trusts 467,617
Other Income 270,644
Total Revenues and Gains (Losses) 51,029,869
Expenses
Program Services 8,085,796
Management and General 774,265
Total Expenses 8,860,061
Change in Net Assets 42,169,808
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