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FROM GRANTMAKER TO CHANGEMAKER

FOR THE YEAR ENDED December 31, 2019

Without Donor Restrictions With Donor Restrictions Total

Revenues and Other Support

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

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