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Statement of Activities and Changes in Net Assets (Unaudited)

FOR THE YEAR ENDED December 31, 2021

Without Donor Restrictions With Donor Restrictions Total

Revenues and Other Support

Contributions $369,896 $521,244 $891,140
Investment income, net 921,954 2,835,350 3,757,304
Beneficial trust income 63,664 63,664
Net realized and unrealized losses 9,533,377 10,991,441 20,524,818
Unrealized gain (loss) on interest in perpetual trust - 256,306 256,306
10,825,227 14,668,005 25,493,232

Net assets released from restrictions

3,169,895 (3,169,895) -

Total revenues and other support

13,995,122 11,498,110 25,493,232

Expenses

Grants and distributions 6,974,273 - 6,974,273
Administrative and general expenses
Salaries 944,622 - 944,622
Purchased services 224,253 - 224,253
Employee benefits 188,782 - 188,782
Supplies and office expenses 139,236 - 139,236
Payroll taxes 55,383 - 55,383
Other expenses 29,254 - 29,254
Depreciation 8,147 - 8,147
Total administrative and general expenses 1,589,677 - 1,589,677

Total expenses

8,563,950 - 8,563,950

Change in net assets

5,431,172 11,498,110 16,929,282

Net assets, beginning of year

74,841,378 83,959,524 158,800,902

Net assets, end of year

$80,272,550 $95,457,634 $175,730,184