Page 9 - 2024 Feb report

Theodore R. & Vivian M. Johnson Scholarship Foundation, Inc. Statement of Revenue & Expenses
STATEMENT OF REVENUE AND EXPENSES
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BALANCE SHEET COMPARISON AS OF JANUARY 31, 2024
One Month Ending January 31, 2024
AS OF JANUARY 31, 2024
Year Ending 12/31/23 Actual
Draft 2024 Annual Budget
1 Month Actual Ending 1/31/23
1 Month Actual Ending 1/31/24
REVENUE
40000 Investment Gains (Losses) 41000 Interest & Dividends 41500 Miscellaneous Income
26,673,866 211,259 -
18,855,318 200,000
9,403,703 7,489 -
1,065,771 29,288 -
TOTAL REVENUE
26,885,125
19,055,318
9,411,192
1,095,059
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
175,000 147,329 807,862 260,239
63,628 306,035 23,983 474,439 110,666
371,944 10,400
80,477 348
180,000 182,000 838,893 264,169
56,300 328,600 41,765 516,753 115,773
505,000 16,500
139,419 -
-
- 68,563 32,704 - 66,016 - 23,972 17,669
4,619 582
4,486 -
-
- 63,658 11,434 - 4,641 - 48,964 18,924
1,521 30
18,111 (5,408)
TOTAL EXPENSES 70000 Grants
2,832,350
10,672,291
3,185,172
9,933,026
218,611
669,000
161,875
504,815
NET REVENUE (LOSS)
13,380,484
5,937,120
8,523,581
428,369
2/13/2024
2/13/2024
2/13/2024
2/13/2024
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 11.6% 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%.
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