Financial Report

CONDENSED STATEMENT OF FINANCIAL POSITION

As of September 30, 2014 and 2013 

 20142013
Assets    
Cash and cash equivalents $30,281,903 $40,916,966
Investments 977,572,601 911,492,128
Program-related investment 2,000,000 5,000,000
Interests, dividends, and other receivables 433,557 562,129
Other assets 4,550,363 4,763,949
Fixed assets, net 2,455,540 2,603,434
     
Total Assets $1,017,293,964 $965,338,606
     
Liabilities    
Grants payable $1,238,361 $5,585,718
Deferred federal excise tax 6,649,377 5,472,071
Other liabilities 272,468 1,865,413
     
Total Liabilities $8,160,206 $12,923,202
     
Net assets    
Total Net Assets  $1,009,133,758 $952,415,404 
Total liabilities and net assets  $1,017,293,964 $965,338,606

 

 

CONDENSED STATEMENT OF ACTIVITIES

Years ended September 30, 2014 and 2013 

 

 20142013
Revenue    
Investment income, net $104,753,882 $130,733,618
Grant revenue and co-investor contributions 7,598,163 8,462,163
     
Total Revenue $112,352,045 $139,195,781
     
Expenses    
Grant awards $44,970,613 $41,218,436
Program and administrative expenses 10,161,291 8,940,911
Federal and excise taxes 501,787 401,175
     
Total Expenses $55,633,691 $50,560,522
     
Change in net assets $56,718,354 $88,635,259
Net assets, beginning of year 952,415,404 863,780,145
     
net assets, end of year  $1,009,133,758  $952,415,404