Page 9 - 2022 January Report

30 years - Our Journey Continues
Statements of Revenue, Expenses and Changes in Fund Balance
as of December 31, 2021
#
LINE
YEAR ENDING 12/31/20 ACTUAL
APPROVED 2021 ANNUAL BUDGET
12 Month Actual Ending 12/31/20
12 Month Actual Ending 12/31/21
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
Cash Received Miscellaneous
11,354,752 -
- -
11,354,752 -
11,119,117 -
TOTAL RECEIVED
11,354,752
-
11,354,752
11,119,117
EXPENSES
Director Fees
Staff salaries
Deferred Compensation Employee benefits Legal fees
Accounting fees
Other professional fees
Prime Buchholz
Other Consultants Rent
Travel, conferences and meetings
Printing and publications
Office - Grant Making Support and Insurance
170,000 755,928 115,163 208,265
5,244 45,750
274,856
294,157 100,646 46,467 13,580 103,481
180,000 717,726 120,000 219,871
5,000 45,950
265,000
445,772 108,984 182,000
15,000 85,423
170,000 755,928 115,163 208,265
5,244 45,750
274,856
294,157 100,646 46,467 13,580 103,481
180,000 719,577 142,854 198,257
43,862 54,114
256,148
317,979 115,630 235,959
12,786 56,148
TOTAL EXPENSES
2,133,536
2,390,727
2,133,537
2,333,315
Contributions, Gifts, Grants Paid
Taxes
TOTAL DISBURSEMENTS
Excess Expenses over Revenue
NET APPRECIATION OF INVESTMENTS
NET INCREASE(DECREASE)/FUND BALANCE FUND BALANCE, beginning of period
8,367,413 325,230 10,826,180 528,572 31,711,400 32,239,972 230,021,538
8,650,923 - 11,041,650
(11,041,650) 12,545,338 1,503,688 250,906,758
8,367,413 325,230 10,826,181 528,572 31,711,401 32,239,972 230,021,538
9,023,464 (483)
11,356,296 (237,179)
48,131,286
47,894,107 250,906,758
FUND BALANCE, end of period
250,906,758
252,410,446
250,906,758
287,681,748
Notes:
1. Appreciation of investments (line 22) is estimated at 5% for 12 months ending 12/31/21. Actual for 2020 was 13.79% for the Foundation.
2. FFOG's 2020 Admin Costs Survey of 123 grant making foundations found that the average of all 123 foundations surveyed for Charitable Administrative Expenses as % of Average Assets for Payout Calculation was .95%. In that same survey 14 grant making foundations with assets between $150,000,000 and $250,000,000 surveyed had an average of .79%. Johnson Scholarship Foundation in 2020 was .76%.
VARIANCE 6,685,510
7