Page 9 - 2022 Feb Report

Resilience
Theodore R. and Vivian M. Johnson Scholarship Foundation, Inc. Statements of Revenue, Expenses and Changes in Fund Balance
Statements of Revenue, Expenses and Changes in Fund Balance
2/14/2022
One Month aEsnodf iJannguaJrya3n1,u2a02r2y 31, 2022
#
LINE
YEAR ENDING 12/31/21 ACTUAL
Preliminary 2022 ANNUAL BUDGET
1 Month Actual Ending 1/31/21
1 Month Actual Ending 1/31/22
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
REVENUE
Net Appreciation of Investments CRUT-Final Payment Miscellaneous
48,131,286 - 19,117
22,325,587 44,169 600
(924,904) -
66
(7,634,775) 44,169 25
TOTAL REVENUE
48,150,403
22,370,357
(924,838)
(7,590,581)
EXPENSES
Director Fees
Staff salaries
Deferred Compensation Employee benefits Professional fees
Legal fees Accounting fees
Prime Buchholz & U.S. Bank
Other Consultants T axes
Rent
Travel, conferences and meetings Printing and publications
Office - Grant Making Support Grant Distributions
180,000 719,577 142,854 198,257
43,862 54,114
256,148
317,979 (483)
115,630 235,959 12,786 56,148 9,023,464
165,000 779,862 171,425 227,524
20,000 46,100
351,400
375,237 - 107,399 330,000 36,750 100,773 11,190,867
- 59,811 - 15,004
- -
63,711
49,534 362 8,897 - 656 3,777 408,250
- 64,989
3,876
55 -
74,401
46,578 - 35 13,796 527 13,838 336,750
TOTAL EXPENSES
11,356,295
13,902,338
610,001
554,844
NET REVENUE OVER EXPENSES
CHANGES IN FUND BALANCE
FUND BALANCE,beginning of period
36,794,108 250,906,758
8,468,019 287,700,866
(1,534,840) 250,906,758
(8,145,425) 287,700,866
FUND BALANCE, end of period
287,700,866
296,168,885
249,980,608
279,555,441
Notes:
1. Appreciation of investments is projected at 7.76% for 12 months ending 12/31/22 which is our policy 5% + 2.76% ( 5 year average (2017-2021) Consumer Price Index). Actual appreciation of investments for 2021 was 19.79% for the Foundation.
2. FFOG's 2019 Admin Costs Survey of 128 grant making foundations found that the average of all 128 foundations surveyed for Charitable Administrative Expenses as % of Average Assets for Payout Calculation was 1.27%. In that same survey 14 grant making foundations with assets between $150,000,000 and $250,000,000 surveyed had an average of 1.06%. Johnson Scholarship Foundation in 2019 was .77%.
Book1
2/15/22
7