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Financials

 

 

Statement of Financial Position - December 31, 2020 2020 2019
 
ASSETS    
 
Cash and Cash Equivalents 7,093,211 2,210,664
Investments at market 162,440,109 157,497,622
Fixed assets at cost,(net of accumulated depreciation) 3,668,175 3,225,339
Beneficial Interest in charitable remainder trusts 9,009,512 10,827,101
Oil & Gas interests 60,506 64,300
Other Assets held for sale
30,789 30,789
Total Assets 182,302,302 173,855,815
 

LIABILITIES AND NET ASSETS

LIABILITIES  
 
Accounts Payable 1,885 1,691 
Present value of split interest trusts 101,057 77,515 
Deferred compensation 186,280 152,747 
Funds held as agency endowments
45,517,106 44,328,552 
Total Liabilities 45,975,919 44,560,505 
  
NET ASSETS  
 
Without donor restrictions 3,122,632 2,907,132 
With donor restrictions
133,203,751 126,388,178 
Total Net Assets 136,326,383 129,295,310 
    
TOTAL LIABILITIES AND NET ASSETS 182,302,302 173,855,815 
 

Summarized Statement of Activities

 REVENUES,GAINS & OTHER SUPPORT (Net of Agency)
 
 Contributions 9,285,025 13.349.763 
 Net Investment Income 9,522,650 19,880,790
 Other Income

153,152 267,282 
 Total Revenue, Gains and Other Support 18,960,825 33,497,835 
 
GRANTS AND EXPENSES (Net of Agency Funds)
 
 Grants, distributions and program expenses 9,169,098 11,340,469 
 Management & general expenses 565,294 573,772 
 Fundraising expenses
377,774 327,822 
 Total Grants and Expenses 10,112,166 12,242,063 
   
 Change in value of spilt interest agreements
(1,817,588) 1,796,967 
 CHANGE IN NET ASSETS 7,031,073 23,052,739 
 NET ASSETS AT BEGINNING OF YEAR (Net of Agency)
129,295,310 106,242,571

 NET ASSETS, END OF YEAR

136,326,383  129,295,310

 

 

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. Click here for a copy of the 2019 Audit. 

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. Click here for a copy of the 2019 Form 990.