Annual Report [2018]

2018 Grant Payment By Category

Proportions of Expenses (Cash Basis) $’s in Millions

2018

2017

Grants Paid

Program

Capital Expenditures

General and Administrative

300
250
200
150
100
50
0
255
272.9
84.7
66.5
50.1
40.4
92.4
52.6

Balance Sheet

Assets

12/31/18*

12/31/17

Cash and Cash Equivalents

Investment Portfolio

Property and Equipment, Net

Other

Total

174,076,804

3,037,424,892

428,870,518

11,530,786

3,651,903,000

247,842,259

2,821,089,741

246,719,463

1,679,345

3,317,330,808

Liabilities

12/31/18*

12/31/17

Accounts Payable

Taxes Payable

Grants Payable

Mortgage and Lease Liabilities

Deferred Excise Tax Liability

Total

16,275,462

554,470

493,723,168

263,556,310

11,812,706

785,922,116

13,267,614

10,692,873

545,446,555

153,987,838

11,812,706

735,207,586

Net Assets

2,865,980,884

2,582,123,222

Income Statement

Revenue

For 12 Months Ended 12/31/18*

For 12 Months Ended 12/31/17

Contributions

Investment Income

Total

222,000,000

397,963,903

619,963,903

221,459,214

446,263,215

667,722,429

Expenses

For 12 Months Ended 12/31/18*

For 12 Months Ended 12/31/17

Grants Paid

Change in Grants Payable

Program

General and Administrative

Depreciation and Amortization

Taxes

Total

255,035,314

(53,837,678)

91,113,386

24,554,323

15,737,666

3,503,230

336,106,241

272,920,016

19,124,031

76,602,641

23,441,724

11,321,845

5,322,414

408,732,671

Net Income

283,857,662

258,989,758

Balance Sheet

12/31/18*

Assets

12/31/17

174,076,804

3,037,424,892

428,870,518

11,530,786

3,651,903,000

Cash and Cash Equivalents

Investment Portfolio

Property and Equipment, Net

Other

Total

247,842,259

2,821,089,741

246,719,463

1,679,345

3,317,330,808

12/31/18*

Liabilities

12/31/17

16,275,462

554,470

493,723,168

263,556,310

11,812,706

785,922,116

Accounts Payable

Taxes Payable

Grants Payable

Mortgage and Lease Liabilities

Deferred Excise Tax Liability

Total

13,267,614

10,692,873

545,446,555

153,987,838

11,812,706

735,207,586

2,865,980,884

Net Assets

2,582,123,222

Income Statement

For 12 Months Ended 12/31/18*

Revenue

For 12 Months Ended 12/31/17

222,000,000

397,963,903

619,963,903

Contributions

Investment Income

Total

221,459,214

446,263,215

667,722,429

For 12 Months Ended 12/31/18*

Expenses

For 12 Months Ended 12/31/17

255,035,314

(53,837,678)

91,113,386

24,554,323

15,737,666

3,503,230

336,106,241

Grants Paid

Change in Grants Payable

Program

General and Administrative

Depreciation and Amortization

Taxes

Total

272,920,016

19,124,031

76,602,641

23,441,724

11,321,845

5,322,414

408,732,671

283,857,662

Net Income

258,989,758

* Unaudited financial statements