Financial Statements

Statement of Financial Position

Year end December 31

20192018
ASSETS
Cash and cash equivalents346,1131,792,010
Other receivable2,020,6613,390
Prepaid expenses 35,796 51,625
Investments, at fair value (Notes 4 & 5) 30,222,307 32,082,797
Property and equipment, net (Note 7)18,6913,309
Program related investment (Note 3) 25,00025,000
Security Deposit10,65022,975
Intangible Assets25,28825,288
TOTAL ASSETS32,704,50634,006,394
LIABILITIES
Accounts payable and accrued expenses123,592118,250
Grants payable (Note 10)200,001,492,141
Excise Tax Payable- -
Deferred federal excise tax (Note 9) 106,58827,167
TOTAL LIABILITIES 430,1801,637,558
NET ASSETS
Net assets without donor restrictions32,274,32632,368,836
TOTAL LIABILITIES AND UNRESTRICTED NET ASSETS32,704,50634,006,334

Statement of Activities

Year end December 31

20192018
Interest and Dividends475,039997,582
Realized gains on investments1,802,3283,268,358
Unrealized gains/(losses) on investments1,533,601(4,221,299)
Other investment income/(loss) (95,496)31,573
Custodial and management fees(66,253)(85,389)
Other investment expenses (882,151)(883,427)
Net investment expenses/(losses) before provision for federal excise tax2,767,068(892,602)
Provision for federal excise taxes (103,984)16,250
Net investment income/(loss)2,663,084(876,352)
EXPENSES
Program Services
Grants1,872,57719,520,177
Compensation and benefits395,171354,739
Professional fees48,912124,742
Occupancy38,83757,920
Insurance2,7902,273
Travel54,52731,784
Office expense5,3385,670
Depreciation4,4674,708
Miscellaneous2,6372,532
Total program services2,425,25620,104,545
Supporting services
Board meetings and support162,547171,290
Compensation and benefits395,171354,739
Professional fees31,72131,529
Occupancy11,91917,774
Other office1,6401,739
Travel1,7741,634
Depreciation1,3701,446
Insurance857698
Miscellaneous4,593(107)
Total supporting services 332,338332,200
TOTAL EXPENSES2,757,59420,436,745
Change in net assets without donor restrictions(94,510)(21,313,097)
Net assets without donor restrictions - beginning of the year32,368,83653,681,933
Net assets without donor restrictions - end of year 32,274,32632,368,836

Grantee Facts

Name:
Grist Magazine

Project Name:
General Support

Amount Granted:
$50,000