Page 9 - April Report2022

Resilience
Statement of Revenue and Expenses
as of March 31, 2022
Revenue
40000 Investment Gains (Losses) 41000 Interest & Dividends
42000 CRUT-Final Payment
Total Revenue
Expenses
50000 Director Fees
50050 Deferred Compensation 50100 Staff Salaries
50200 Employee Benefits
PROFESSIONAL FEES
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)
Notes:
Year Ending 2021 Year Actual
49,710,898 496
$49,711,394
180,000 142,854 719,577 198,257
54,114 311,970 43,862 317,979
115,630 235,959 12,786 56,148 (483) $2,388,652 $9,023,464 $38,299,278
APPROVED 2022 ANNUAL BUDGET
22,324,104 600 44,169 $22,368,873
165,000 171,425 779,862 230,822
46,100 351,400 20,000 384,503
107,399 330,000 34,918 100,944 0 $2,722,373 $11,219,880 $8,426,620
3 Months Actual Ending 3/31/21
3,131,500 128
$3,131,628
203,207
100,000 54,757
5,000 59,165 743 54,515
35,669 0 7,411 17,215 0 $537,682 $1,054,449 $1,539,497
3 Months Actual Ending 3/31/22
(9,237,189) 40 44,169 -$9,192,980
132,486 41,022
79,206 55 63,619
8,932 32,993 12,189 29,170
0 $399,672 $1,579,488 ($11,172,140)
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 19.3% for the Foundation.
2. FFOG's 2020 Admin Costs Survey of 140 grant making foundations found that the average of all 140 foundations surveyed for Charitable Administrative Expenses as % of Average Assets was 17.18%. In that same survey 31 grant making foundations with assets below $300,000,000 surveyed had an average of 2.05%. Johnson Scholarship Foundation in 2020 was .75%.
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