Page 9 - 2020 October Report

Resilience
Statement of Revenue and Expenses
as of September 30, 2022
Year Ending 12/31/21 Approved 2022 9 Months Actual 9 Months Actual Actual Annual Budget Ending 9/30/21 Ending 9/30/22
REVENUE
40000 Investment Gains (Losses) 41000 Interest & Dividends 41500 Miscellaneous Income 42000 CRUT-Final Payment
43,980,884 22,324,104 496 600
44,169
36,372,864 784
(61,022,659) 20,020 480 44,169
TOTAL REVENUE
43,981,380 22,368,873 36,373,648 (60,957,990)
EXPENSES
50000 Director Fees
50050 Deferred Compensation
50100 Staff Salaries
50200 Employee Benefits
60017 Audit & Taxes
60018 Financial Consulting
60019 Legal Fees
60020 Other Consultants
60200 Rent
60300 Travel, conferences and meetings 60400 Printing and Publications
60500 Office and Grant Making Support 60600 Federal & State Taxes
180,000 142,854 719,577 198,257
54,114 311,970 43,862 348,842 115,630 235,959 12,786 56,148 (483)
165,000 171,425 779,862 230,822
46,100 351,400 20,000 384,503 107,399 330,000 34,918 113,110 -
125,000 -
515,373 155,090 39,250 229,423 43,862 233,874 88,938 54,776 10,238 37,678 625
115,000 -
584,897 131,182 31,000 252,278 17,159 243,406 83,978 209,498 8,643 65,562 26,633
TOTAL EXPENSES 70000 Grants
2,419,515 2,734,539 1,534,126 1,769,236
9,026,214 11,219,880 4,645,886 5,882,035
NET REVENUE (LOSS)
32,535,650 8,414,454 30,193,636 (68,609,262)
10/14/22
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) CPI). Actual appreciation of investments for 2021 was 21.28% for the Foundation.
2. FFOG's 2021 Admin Costs Survey of 159 foundations found that the average of all 159 foundations surveyed for Charitable Administrative Expenses as % of Average Assets was .85%. In that same survey 27 grant making foundations with assets below $300,000,000 surveyed had an average of 1.26%. Johnson Scholarship Foundation in 2021 was .66%.
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