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Financials

 

 

Statement of Financial Position - December 31, 2018               2018                2017
 
ASSETS    
 
Cash and Cash Equivalents 4,815,387   4,130,867
Contributions receivable 0 350,000
Investments at market 125,367,879     134,144,541
Fixed assets at cost,(net of accumulated depreciation) 3,287,162        2,961,211
Beneficial Interest in charitable remainder trusts 9,030,133 7,920,714
Oil & Gas interests 67,650              71,105
Other Assets held for sale
            289,789
              289,749
Total Assets 142,858,000      149,823,227
 

LIABILITIES AND NET ASSETS

LIABILITIES  
 
Accounts Payable 2,425            46,708
Present value of split interest trusts           80,805            1,756,837
Deferred compensation 108,812                       98,524
Funds held as agency endowments
      36,423,387
      36,879,134
Total Liabilities       36,615,429       38,781,203
  
NET ASSETS  
 
Without donor restrictions         2,417,135 2,259,011
With donor restrictions
    103,825,436
     108,783,013
Total Net Assets        106,242,571       111,042,024
    
TOTAL LIABILITIES AND NET ASSETS     142,858,000       149,823,227
 

Summarized Statement of Activities

 REVENUES,GAINS & OTHER SUPPORT (Net of Agency)
 
 Contributions 11,640,884 8,489,301
 Investment Income         2,161,886           2,269,534
 Other Income 153,455 137,136
 Net realized/unrealized gains (losses)
 (10,078,028)
       11,664,985
 Total Revenue, Gains and Other Support       3,878,197       22,560,956
 
GRANTS AND EXPENSES (Net of Agency Funds)
 
 Grants, distributions and fund expenses      8,556,189 6,378,615
 Management & general expenses    805,577           795,370
 Fundraising expenses
           333,406
           312,750
 Total Grants and Expenses      9,695,172 7,486,735
   
 Change in value of spilt interest agreements
         1,017,522
          1,076,898
 CHANGE IN NET ASSETS              (4,799,453)       16,151,119
 NET ASSETS AT BEGINNING OF YEAR (Net of Agency)
      111,042,024
      94,890,905

 NET ASSETS, END OF YEAR

      106,242,571

     111,042,024

 

 

This financial information has been summarized by the Foundation from the financial statments of the San Angelo Area Foundation, which are audited by the independent public accounting firm of Condley and Company, LLP., of Abilene, Texas. The 2018 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.