2021 Financial Summary*
Statements of Financial Position
December 31, 2021 and 2020
Assets |
2021 |
2020 |
||
| Cash and cash equivalents | $ | 966,114 | $ | 630,664 |
| Investments, at fair value | 543,774,743 | 488,970,723 | ||
| Deferred compensation plans | 2,358,208 | 2,184,436 | ||
| Prepaid federal excise tax and other assets | 319,873 | 579,094 | ||
| Fixed assets, net | 743,256 | 140,903 | ||
Total assets |
$ |
548,162,194 |
$ |
492,505,820 |
Liabilities and Net Assets |
||||
| Liabilities | ||||
| Accounts payable and other accrued expenses | $ | 776,998 | $ | 418,749 |
| Grants payable, net | 7,953,710 | 10,209,450 | ||
| Deferred compensation plans | 2,358,208 | 2,184,436 | ||
| Deferred federal excise tax | 2,143,482 | 1,695,614 | ||
| Total liabilities | 13,232,398 | 14,508,249 | ||
| Net Assets | ||||
| Net assets without donor restrictions | 534,929,796 | 477,997,571 | ||
Total liabilities and net assets |
$ |
548,162,194 |
$ |
492,505,820 |
Statements of Activities and Changes in Net Assets
Years Ended December 31, 2021 and 2020
2021 |
2020 |
|||
| Revenues | ||||
| Dividends and interest | $ | 7,522,875 | $ | 6,562,930 |
| Realized and unrealized gains on investments | 84,891,211 | 59,275,229 | ||
| Investment income, gross | 92,414,086 | 65,838,159 | ||
| Investment management and other fees | (8,370,630) | (7,042,866) | ||
| Excise and other tax expense | (1,589,206) | (1,029,668) | ||
| Investment income, net | 82,454,250 | 57,765,625 | ||
| Expenses | ||||
| Grants** | 19,994,261 | 19,454,847 | ||
| Other program expenses | 3,064,195 | 3,502,777 | ||
| Management and general | 2,463,569 | 3,202,091 | ||
| Total expenses | 25,522,025 | 26,159,715 | ||
| Change in net assets | 56,932,225 | 31,605,910 | ||
| Net assets without donor restrictions | ||||
Beginning of year |
477,997,571 |
446,391,661 |
||
End of year |
$ |
534,929,796 |
$ |
477,997,571 |
* The financial information is presented on an accrual basis. These figures have been derived from the Evelyn & Walter Haas, Jr. Fund’s 2021 financial statements audited by Hood & Strong LLP, independent auditors. The condensed financial information should be read in conjunction with the 2021 audited financial statements and related notes.
** On a cash basis, the Fund paid out grants totaling $22,250,000 and $21,989,700 in 2021 and 2020, respectively.