Page 9 - 2024 January report

Theodore R. & Vivian M. Johnson Scholarship Foundation, Inc. Statement of Revenue & Expenses
STATEMENT OF REVENUE AND EXPENSES
Twelve Months Ending December 31, 2023
AS OF DECEMBER 31, 2023
Year Ending 12/31/22 Actual
Final 2023 Annual Budget
12 Months Actual Ending 12/31/22
12 Months Actual Ending 12/31/23
REVENUE
40000 Investment Gains (Losses) 41000 Interest & Dividends 41500 Miscellaneous Income
(37,326,214)
41,067 480
18,121,829 60,000
(37,326,214)
41,067 480
26,445,558 211,259 -
TOTAL REVENUE
(37,284,667)
18,181,829
(37,284,667)
26,656,817
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
165,000 183,145 779,852 205,532
36,800 330,465 17,159 362,548 87,996
458,118 16,288
95,197 376,844
175,000 196,881 800,579 278,900
50,200 351,400 30,000 381,107 110,468
477,500 79,500
113,280 -
165,000 183,145 779,852 205,532
36,800 330,465 17,159 362,548 87,996
458,118 16,288
95,197 376,844
175,000 147,329 807,862 260,239
63,628 306,035 23,983 474,439 110,666
371,944 10,400
80,477 348
TOTAL EXPENSES 70000 Grants
3,114,944
11,204,758
3,044,816
10,882,211
3,114,944
11,204,758
2,832,350
10,672,291
NET REVENUE (LOSS)
(51,604,369)
4,254,801
(51,604,369)
13,152,176
1/12/2024
1/12/2024
1/12/2024
1/12/2024
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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.
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BALANCE SHEET COMPARISON AS OF DECEMBER 31, 2023
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%.
Page 7 HORIZONS