Page 9 - June JSF report

STATEMENTOFREVENUEANDEXPENSESASOF MAY31,2023
#
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
24 Notes:
25
26
REVENUE
40000 Investment Gains (Losses) 41000 Interest & Dividends 41500 Miscellaneous Income
TOTAL REVENUE
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
TOTAL EXPENSES 70000 Grants
NET REVENUE (LOSS)
Year Ending 12/31/22 Actual
(37,317,061)
41,066 480
(37,275,515)
165,000 183,145 779,852 216,886
36,800 330,465 17,159 361,873 103,096 458,118 16,288 95,197 376,844
3,140,723
11,204,758
(51,620,996)
1. Appreciation of investments is projected at 7.5% for 12 months ending 12/31/23 which is our policy 5% + 2.5% (Prime Buchholz Estimated Inflation Rate). Actual appreciation of investments for 2022 was -13.1% for the Foundation per Prime Buchholz.
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%.
Final 2023 Annual Budget
18,078,413 60,000
18,138,413
175,000 196,881 800,579 278,900
50,200 351,400 30,000 381,107 110,468 477,500 79,500 113,280 -
3,044,816
10,882,211
4,211,385
5 Months Actual Ending 05/31/22
6/15/23 6/15/23 6/15/23 6/15/23
(19,971,608)
1,816 480
(19,969,312)
45,000
- 324,943
91,835 8,000 164,300 17,159 135,173 50,033 103,209 6,740 52,125 26,703
1,025,220
1,907,158
(22,901,690)
5 Months Actual Ending 05/31/23
9,830,479 51,272 -
9,881,751
40,000
- 342,815
111,343 14,750 146,753 12,857 147,691 54,597 87,604 10,245 37,399 3,372
1,009,426
1,750,733
7,121,592
Johnson Scholarship Foundation
Balance Sheet
BALANCE SHEET COMPARISON
As of May 31, 2023
AS OF MAY 31, 2023
ASSETS Current Assets
Bank Accounts
Other Current Assets
Total Current Assets
TOTAL ASSETS
LIABILITIES AND EQUITY Liabilities
Equity
TOTAL LIABILITIES AND EQUITY
AS OF MAY 31, 2023
$2,305,294 $243,066,809 $245,372,103
$245,372,103 $20,439
$245,351,664 $245,372,103
TOTAL
AS OF MAY 31, 2022 (PP)
$3,793,091 $263,196,640 $266,989,731
$266,989,731 $18,873
$266,970,859 $266,989,731
CHANGE
$ -1,487,797 $ -20,129,831 $ -21,617,629
$ -21,617,629 $1,566
$ -21,619,194 $ -21,617,629
Page 7 HORIZONS