Page 9 - 2023 February Report

Horizons
Statement of Revenue and Expenses
asof January31,2023
#
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
25
26 27
Year Ending 12/31/22 Actual
Proposed 2023 Annual Budget
1 Month Actual Ending 01/31/22
1 MonthActual Ending 01/31/23
REVENUE
40000 Investment Gains (Losses) 41000 Interest & Dividends 41500 Miscellaneous Income
(33,901,644)
- -
18,121,829 60,000
(7,443,417) 25
9,446,941 7,489 -
TOTAL REVENUE
(33,901,644)
18,181,829
(7,443,392)
9,454,430
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
165,000 183,145 779,852 216,886
36,800 330,465 17,159 361,873 103,096 458,118 16,288 95,197 376,844
175,000 196,881 763,641 236,879
50,200 351,400 20,000 387,749 110,468 477,500 79,500 122,985 -
- -
64,989 16,674 - 74,401 55 46,578 35 13,174 527 13,838 -
- -
68,563 19,170 - 66,016 - 23,813 17,669 4,619 582 4,645 -
TOTAL EXPENSES 70000 Grants
3,140,723
11,204,758
2,972,203
10,537,691
230,271
336,750
205,077
689,000
NET REVENUE (LOSS)
(48,247,125)
4,671,935
(8,010,413)
8,560,353
2/21/23 2/21/23 2/21/23 2/21/23
Notes:
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 -12.4% 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%.
ASSETS Current Assets
Bank Accounts
Other Current Assets
Total Current Assets
TOTAL ASSETS
LIABILITIES AND EQUITY Liabilities
Equity
TOTAL LIABILITIES AND EQUITY
January 31, 2023
AS OF JAN 31, 2023
$3,597,853 $246,586,881 $250,184,734
$250,184,734 $11,260
$250,173,474 $250,184,734
TOTAL
AS OF JAN 31, 2022 (PP)
$1,154,736 $280,725,091 $281,879,827
$281,879,827 $17,919
$281,861,908 $281,879,827
CHANGE
$2,443,117 $ -34,138,210 $ -31,695,093
$ -31,695,093 $ -6,659
$ -31,688,434 $ -31,695,093
Johnson Scholarship Foundation
Balance Sheet
As of January 31, 2023
Balance sheet comparison
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