Page 9 - 2024 May report

as of April 30, 2024
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Statement of Revenue & Expenses Four Months Ending April 30, 2024
Theodore R. & Vivian M. Johnson Scholarship Foundation, Inc.
STATEMENT OF REVENUE AND EXPENSES
Year Ending 12/31/23 Actual
2024 Annual Budget
4 Months Actual Ending 4/30/23
4 Months Actual Ending 4/30/24
REVENUE
40000 Investment Gains (Losses) 41000 Interest & Dividends 41500 Miscellaneous Income
27,667,423 211,260 -
18,855,318 200,000
11,173,295 40,587 -
6,816,919 84,357 -
TOTAL REVENUE
27,878,683
19,055,318
11,213,882
6,901,276
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
175,000 147,329 807,862 246,653
63,628 306,035 23,983 488,025 110,666
371,944 10,400
80,477 348
180,000 182,000 838,893 301,048
56,300 328,600 41,765 550,986 115,773
505,000 16,500
141,219 -
30,000 - 274,252 108,427 11,250 79,845 11,048 109,888 36,698
46,563 5,736
25,096 -
45,000 - 254,631 79,647 1,040 145,251 29,409 184,550 47,219
39,371 5,294
54,896 (4,770)
TOTAL EXPENSES 70000 Grants
2,832,350
10,672,291
3,258,084
9,520,912
738,803
1,120,350
881,538
1,816,967
NET REVENUE (LOSS)
14,374,042
6,276,322
9,354,729
4,202,771
5/16/2024
5/16/2024
5/16/2024
4/16/2024
Notes:
1. Appreciation of investments is projected at 7.5% for 12 months ending 12/31/24 which is our policy 5% + 2.5% (Prime Buchholz Estimated Inflation Rate). Actual appreciation of investments for 2023 was 12.0% for the Foundation per Prime Buchholz.
2. FFOG's 2022 Admin Costs Survey of 162 foundations found that the average of all 162 foundations surveyed for Charitable Administrative Expenses as % of Average Assets was .89%. In that same survey 29 grant making foundations with assets below $300,000,000 surveyed had an average of 1.29%. Johnson Scholarship Foundation in 2022 was .78%.
BALANCE SHEET COMPARISON as of April 30, 2024
Education / A Powerful force for change
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