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.