Page 9 - July JSF report

STATEMENT OF REVENUE AND EXPENSES AS OF JUNE 30, 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
(37,264,494)
41,067 480
(37,222,947)
165,000 183,145 779,852 216,886
36,800 330,465 17,159 362,548 103,096 458,118 16,288 95,197 376,844
3,141,398
11,204,758
(51,569,103)
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
18,121,829 60,000
18,181,829
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
4,254,801
6 Months Actual Ending 06/30/22
7/13/23 7/13/23 7/13/23 7/13/23
(36,421,898)
3,523 480
(36,417,895)
85,000 - 389,931 117,173 16,000 169,120 17,159 167,248 58,171 127,813 7,381 55,235 26,703
1,236,934
3,020,872
(40,675,701)
6 Months Actual Ending 06/30/23
16,987,649 82,484 -
17,070,133
75,000 - 418,669 143,355 14,750 151,390 12,857 169,443 63,933 107,487 26,924 40,212 3,372
1,227,392
2,690,275
13,152,466
BALANCE SHEET COMPARISON AS OF JUNE 30, 2023
Page 7 HORIZONS