Financials

Statement of Financial Position - December 31, 2017               2017                2016
ASSETS    
Cash and Cash Equivalents 4,130,867   2,191,354
Contributions receivable 350,000 0
Investments at market 134,144,541     113,846,272
Fixed assets at cost,(net of accumulated depreciation) 2,916,211        2,967,169
Beneficial Interest in charitable remainder trusts 7,920,714 6,796,585
Oil & Gas interests 71,105              76,237
Other Assets held for sale             289,789               289,749
Total Assets 149,823,227      126,167,366
     
LIABILITIES AND NET ASSETS    
LIABILITIES    
Accounts Payable 46,708            6,335
Present value of split interest trusts           1,756,837            1,711,030
Deferred compensation 98,524                       65,480
Funds held as agency endowments       36,879,134       29,493,616
Total Liabilities       38,781,203       31,276,461
     
NET ASSETS    
Unrestricted         2,259,011 1,897,671
Temporarily restricted     108,783,013       86,196,649
Net Assets        111,042,024       88,094,320
      
TOTAL LIABILITIES AND NET ASSETS     149,823,227       126,167,366
     
 Summarized Statement of Activities    
 REVENUES,GAINS & OTHER SUPPORT (Net of Agency)    
 Contributions 9,154,681 9,887,077
 Investment Income         2,433,871           2,547,699
 Net realized/unrealized gains (losses)            11,664,985         5,481,088
 Total Revenue, Gains and Other Support       23,253,537       17,915,864
     

 GRANTS AND EXPENSES (Net of Agency)

   
 Grants, distributions and fund expenses      7,043,955 5,495,883
 Investment expenses 164,337 147,111
 Management & general expenses           885,274           825,966
 Fundraising expenses             85,710             82,042
 Total Grants and Expenses      8,179,276 6,551,002
     
 Change in value of spilt interest agreements          1,076,989)           2,780,615
     
 CHANGE IN NET ASSETS              16,151,159       14,145,477
 Prior Period Adjustment   3,970,212
 NET ASSETS AT BEGINNING OF YEAR (Net of Agency)       94,890,905       80,745,428

 NET ASSETS, END OF YEAR

      111,042,064

      94,890,905

     
     

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This financial information has been summarized by the Foundation from the audited financial statments of the San Angelo Area Foundation. This audit was complted by the independent public accounting firm of Condley and Company, LLP., of Abilene, Texas. The 2017 Audit is available by clicking on this link.  

This Foundation only files form 990 with the IRS each year and does not have any earned income requiring the filing of form 990-T, thus the Foundation has never filed form 990-T. Should the Foundation ever file form 990-T, this form will also be available for public inspection. The public copy of the Foundation's 2017 990 is available by clicking this link.