Consolidated Statements
of Financial Position
DECEMBER 31, 2020 AND 2019 (IN THOUSANDS)
Assets
| Assets | 2020 | 2019 |
|---|
| Cash and cash equivalents | $60,336 | $104,749 |
| Investments | $11,986,169 | $10,088,494 |
| Contributions and grants receivable | $13,444 | $5,617 |
| Notes and other receivables | $30,327 | $20,643 |
| Beneficial interest in charitable remainder trusts | $6,174 | $5,596 |
| Property and equipment, net | $115,912 | $33,542 |
| Intangible assets | $18,890 | $27,613 |
| Other assets | $761 | $747 |
| Total assets | $12,232,013 | $10,287,001 |
|---|
Liabilities and Net Assets
| Liabilities | 2020 | 2019 |
|---|
| Grants payable, net | $593,428 | $629,421 |
| Accounts payable and accrued liabilities | $8,850 | $5,695 |
| Liabilities to beneficiaries from split interest agreements | $18,310 | $18,324 |
| Deposits held for others | $160,143 | $124,437 |
| Total liabilities | $780,731 | $777,877 |
|---|
| Net Assets | | |
|---|
| (Without donor restrictions) Undesignated | $11,042,717 | $9,144,857 |
| (Without donor restrictions) Designated by the Board for endowment | $82,978 | $73,499 |
| Total | $11,125,695 | $9,218,356 |
|---|
| (With donor restrictions) Charitable remainder trusts and irrevocable planned gifts | $17,499 | $16,354 |
| (With donor restrictions) Special projects | $7,196 | $9,009 |
| (With donor restrictions) Endowment | $300,892 | $265,405 |
| Total | $325,587 | $290,768 |
|---|
| Total net assets | $11,451,282 | $9,509,124 |
| Total liabilities and net assets | $12,232,013 | $10,287,001 |
|---|
Revenues and Support
| Revenues and Support | 2020 | 2020 | 2020 | 2019 |
|---|
| Without Donor Restrictions | With Donor Restrictions | Total | Total |
| Contributions | $2,414,749 | $3,617 | $2,418,366 | $1,356,923 |
| Investment income (loss), net | $2,272,760 | $53,596 | $2,326,356 | $1,529,933 |
| Change in value of split interest agreements | - | $1,482 | $1,482 | $3,907 |
| Other income | $5,465 | - | $5,465 | $5,628 |
| Net assets released from restriction pursuant to endowment spending-rate distribution formula | $12,236 | ($12,236) | - | - |
| Net assets released from restrictions and reclassifications | $11,640 | -$11,640 | - | - |
| Total revenues and support | $4,716,850 | $34,819 | $4,751,669 | $2,896,391 |
|---|
| Expenses | 2020 | 2020 | 2020 | 2019 |
|---|
| Without Donor Restrictions | With Donor Restrictions | Total | Total |
| Grants awarded | $2,747,665 | - | $2,747,665 | $1,458,212 |
| Program | $42,980 | - | $42,980 | $33,794 |
| General and administrative | $14,781 | - | $14,781 | $15,996 |
| Fundraising and development | $4,085 | - | $4,085 | $4,902 |
| Total expenses | $2,809,511 | - | $2,809,511 | $1,512,904 |
| Changes in net assets | $1,907,339 | $34,819 | $1,942,158 | $1,383,487 |
| Net assets (beginning of year) | $9,218,356 | $290,768 | $9,509,124 | $8,125,637 |
| Net assets (end of year) | $11,125,695 | $325,587 | $11,451,282 | $9,509,124 |