Statement of Financial Position
For The Years Ended December 31st
For The Years Ended December 31st
2021 | 2020 | ||
ASSETS | |||
Current Assets: | |||
Cash | $4,776 | $60,035 | |
Investments at market value | $20,401,767 | $18,638,169 | |
Investment holdback receivable | $95,465 | $0 | |
Prepaid expenses and deposits | $9,841 | $9,589 | |
Prepaid excise tax | $0 | $14,486 | |
Total Current Assets | $20,511,849 | $18,722,279 | |
Fixed Assets: | |||
Computer Equipment | $3,719 | $3,719 | |
Less, accumulated depreciation | $3,719 | $3,369 | |
Net Fixed Assets | $0 | $350 | |
Total Assets | $20,511,849 | $18,722,629 | |
LIABILITIES AND NET ASSETS | |||
Current Liabilities: | |||
Grants Payable | $180,000 | $370,000 | |
Accounts Payable | $1,050 | $32,443 | |
Excise Tax Payable | $17,501 | $0 | |
Accrued expenses | $15,463 | $2,900 | |
Total Current Liabilities | $214,014 | $405,343 | |
Long-Term Liabilities: | |||
Deferred excise tax liability | $21,311 | $0 | |
Total Liabilities | $235,325 | $405,343 | |
Net Assets: | |||
Without Donor Restriction | $20,162,756 | $18,214,414 | |
With Donor Restriction | $113,768 | $102,872 | |
Total Net Assets | $20,276,524 | $18,317,286 | |
Total Liabilities and Net Assets | $20,511,849 | $18,722,629 | |
Statement of Expenses | |||
Grants Awarded | $538,100 | $1,099,000 | |
General and Administrative | $196,510 | $183,113 | |
Federal excise tax | $53,301 | $7,882 |
Complete audited financial statements are available by request.