Statement of Financial Position
For The Years Ended December 31st
For The Years Ended December 31st
2022 | 2021 | ||
ASSETS | |||
Current Assets: | |||
Cash | $67,795 | $4,776 | |
Investments | $16,628,154 | $20,401,767 | |
Investment holdback receivable | $0 | $95,465 | |
Prepaid expenses and security deposit | $6,174 | $9,841 | |
Prepaid excise tax | $9,970 | $0 | |
Total Current Assets | $16,712,093 | $20,511,849 | |
Fixed Assets: | |||
Computer Equipment | $3,719 | $3,719 | |
Less, accumulated depreciation | $3,719 | $3,719 | |
Net Fixed Assets | $0 | $0 | |
Right of use Asset, Net | $6,550 | $0 | |
Total Assets | $16,718,643 | $20,511,849 | |
LIABILITIES AND NET ASSETS | |||
Current Liabilities: | |||
Grants Payable | $0 | $180,000 | |
Accounts Payable | $0 | $1,050 | |
Excise Tax Payable | $0 | $17,501 | |
Accrued expenses | $19,684 | $15,463 | |
Operating Lease Liability | $6636 | $0 | |
Total Current Liabilities | $26,320 | $214,014 | |
Long-Term Liabilities: | |||
Deferred excise tax liability | $0 | $21,311 | |
Total Liabilities | $26,320 | $235,325 | |
Net Assets: | |||
Without Donor Restriction | $16,598,489 | $20,162,756 | |
With Donor Restriction | $93,834 | $113,768 | |
Total Net Assets | $16,692,323 | $20,276,524 | |
Total Liabilities and Net Assets | $16,718,643 | $20,511,849 | |
Statement of Expenses | |||
Grants Awarded | $584,500 | $538,100 | |
General and Administrative | $226,810 | $196,510 | |
Federal excise tax (benefit) | $(9282) | $53,301 |
Complete audited financial statements are available by request.