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 |