2020 Introduction of Foundation and Board1 - Flipbook - Page 13
SOURCES OF EXPENSES
The Foundation Expenses consists of Scholarship payouts (83%); rental expenses (4.5%) for insurances, taxes, repairs and management); monetary gifts to students, investment and banking expenses, etc. The chart below depicts the distribution of our expenses.
Leg-
4%
Expense Distribution
4%
3% 2% 1% 2%
1
2
3
4
5
84%
6
7
1 - Scholarship Payouts - $208K
2 - Rental Costs (taxes, insurance, repairs, and management fee - $10.9K
3 - Rental Depreciation - $9.6K
4 - Gifts to Students - $8K
5 - Endowment Expenses - $4.7K
6 - Supplies - $2K
7 - General Operating Expenses
As expected, our largest expense is for scholarship payouts followed by expenses needed to maintain the Jacqueline Henry Green
house and property. At Christmas each student is presented with a monetary token and if, during the year, they need help paying for
such things as transcripts (which are required for them to send at the end of each semester), the Foundation helps with those nominal fees. The other expenses are a part of our general operating expenses.
BALANCE SHEET
ASSETS:
Checking Accounts (Operating, Legacy and Scholarships)
CDs
Paypal
Building
Investment Accounts (4)
Strong Properties
TOTAL ASSETS
Unrealized gains
Net Assets w/o restrictions
Net Assets with restrictions
$519K
$226K
$.9k
$253K
$632K
$2.9K
$1,815K
LIABILITIES
Escrow $2.6K
$12.4K
$489.1K
$1,310.7K
TOTAL LIABILITIES and NET ASSETS/FUND BALANCES $1,815K
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