ASSETS (in thousands)

FY 2018

 FY 2017

April 1, 2017-March 31, 2018

April 1, 2016-March 31, 2017

Cash and cash equivalents

$6,628

$9,556

Accrued investment income

217

168

Contributions receivable, net

117

167

Prepaid expenses

83

87

Cash surrender value of life insurance

38

61

Note receivable

828

944

Property and equipment, net

1,325

1,381

Investments

197,699

177,931

Trust Accounts

11,500

10,888

Real property held for investment

552

552

Total Assets

$218,987

$201,735

LIABILITIES AND NET ASSETS (in thousands)

2018

2017

Liabilities:

      Grants approved for future payment

752

648

      Accounts payable and other liabilities

472

484

      Funds held as agency endowment obligations

24,870

23,330

         Total liabilities

26,094

24,462

Net assets:

      Unrestricted

100,695

91,278

      Temporarily restricted

48,872

45,130

      Permanently restricted

43,326

40,865

         Total net assets

192,893

177,273

Total Liabilities and Net Assets

$218,987

$201,735

REVENUES AND OTHER SUPPORT (in thousands)

2018

2017

Contributions

14,017

15,122

Investment income

5,414

3,463

Net appreciation (depreciation) on investments and trust accounts

14,339

15,450

Less amounts for agency endowments:

      Contributions

(386)

(253)

      Investment income

(565)

(355)

      Net (appreciation) depreciation in investments

(1,756)

(1,933)

Total Revenues and Other Support

$31,063

$31,494

EXPENSES (in thousands)

2018

2017

Grants and other distributions

13,258

11,430

Administrative expenses

2,586

2,382

Investment expenses

767

753

Less amounts for agency endowments:

      Grants and other distributions

(839)

(1,246)

      Administrative expenses

(243)

(230)

      Investment expenses

(86)

(78)

Total Expenses

$15,443

$13,011

Increase (decrease) in net assets

15,620

18,483

Net assets, beginning of year

177,273

158,790

Net Assets, End of Year

$192,893

$177,273