Jimmy Emmons participates with other producers in a field tour.
  1. Annual Report
  2. 2020

2020 Financial Report

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Statement of Financial Position

Assets As of Dec. 31, 2020 As of Dec. 31, 2019
Cash $3,316,547 $2,400,877
Accounts receivable and other assets 1,705,631 4,442,091
Marketable securities, at fair value, cost of $55,397,534 and $45,541,694, in 2020 and 2019, respectively:    
U.S. government securities 11,314,994 13,240,409
Corporate securities 41,069,244 26,048,641
Mutual and commingled funds 7,302,395 8,596,143
Total marketable securities 59,686,633 47,885,193
     
Property and equipment, net of accumulated depreciation 87,464,955 94,799,567
     
Total assets $153,810,089 $151,293,909
Prepaid expenses 1,636,323 1,766,181
Liabilities and Net Assets    
Accounts payable and accrued expenses $3,936,148 $4,195,175
Notes payable  880,000 990,000
Liability for postretirement benefits 4,600,023 4,177,272
Total liabilities $9,416,171 $9,362,447
     
Net assets without donor restrictions 144,393,918 141,931,462
     
Total net assets $144,393,918 $141,931,462
Total Liabilities and Net Assets $153,810,089 $151,293,909

Statements of Activities and Change in Net Assets

Net Assets Year Ended 2020 Year Ended 2019
Revenues, gains and losses:    
Interest and dividends $189,375 $293,547
Net realized gains on investments, net of investment expenses 725 1,484,222
Net unrealized gain on investments 2,337,320 2,613,133
Grant and contribution revenue 37,654,420 26,455,000
Other miscellaneous program income 6,715,637 7,368,502
Total revenues, gains and losses 46,897,477 38,214,404
     
Program service expenses:    
Research 42,628,980 54,563,482
Consultation and education 8,768,435 12,847,798
Total program service expenses 51,397,415 67,411,280
     
Support service expenses:    
Fundraising 470,511 176,781
Operational support 4,000,390 5,702,596
Total support service expenses 4,470,901 5,879,377
     
Provision for federal and state taxes:    
Unrelated business income tax benefit (8,290)
     
Total expenses 55,868,316 73,282,367
     
Expenses in excess of revenues, gains and losses (8,970,839) (35,067,963)
     
Gain on involuntary conversion 11,790,410 11,072,235
Postretirement benefit related changes other than net periodic costs (357,115) 10,026,817
     
Change in Net Assets 2,462,456 (13,968,911)
Net assets, beginning of year $141,931,462 $155,900,373
Net assets, end of year $144,393,918 $141,931,462

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