1. Annual Report
  2. 2018

2018 Financial Report

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Statement of Financial Position

AssetsAs of Dec. 31, 2018
Cash $6,452,299
Accounts receivable and other assets 2,412,675
Prepaid expenses 1,040,329
Marketable securities, at fair value  
U.S. government securities 21,043,680
Corporate securities 35,831,133
Mutual and commingled funds 8,144,994
Total marketable securities 65,019,807
Property and equipment, net of accumulated depreciation of $78,707,931 97,275,245
total assets $172,200,355
Accounts payable and accrued expenses $3,934,759
Notes payable 1,100,000
Liability for pension and post-retirement medical benefits 11,265,223
total liabilities 16,299,982
net assets  
Net assets without donor restrictions 155,900,373
total net assets 155,900,373
total liabilities and net assets $172,200,355

This information was derived from Noble Research Institute’s annual financial statements for 2018, which were audited by the independent accounting firm of Grant Thornton LLP. A complete picture of Noble Research Institue’s financial position and results of operations can only be obtained by reviewing the annual financial statements in their entirety. Please contact Noble Research Institute if you would like a copy of the complete financial statements.


Statement of Activities and Changes in Net Assets

net assets without donor restrictions Year Ended 2018
Revenues, gains and losses:  
Interest $14,001
Dividends 340,158
Net realized gains on investments 80,865
Net unrealized loss on investments (86,907)
Grant and contribution revenue 201,000
Other miscellaneous program income 6,349,483
total revenues, gains and losses 6,898,600
Program service expenses:  
Research 47,211,738
Consultation and education 11,191,306
Total program service expenses 58,403,044
Operational support 3,815,107
Provision for federal and state taxes (117,066)
total expenses 62,101,085
Expenses in excess of revenues, gains and losses (55,202,485)
Gain on involuntary conversion 34,292,781
Pension and postretirement medical related charges other than net periodic costs 9,523,712
change in net assets from operations (11,385,992)
net assets, beginning of year 167,286,365
net assets, end of year $155,900,373