Women's Foundation of Boston 2020 Annual Report

FINANCIALS Assets Current Assets Including Cash $2,265,233 and Short Term investments (Note 1) $2,265,233 $2,136,498 Non Current Assets $2,150,000 $1,000,000 Total Assets $4,415,233 $3,136,498 Liabilities Current and Long Term Liabilities (Note 2) $145,000 $230,000 Net Assets Operating $2,006,948 $2,891,498 Board Designated Endowment $2,150,000 Donor Restricted Assets $113,285 $15,000 Total Liabilities and Net Assets $4,415,233 $3,136,498 Non binding Conditional Grant Liabilities (Note 2) $595,000 Income Contributions $1,944,352 1,463,580 Interest Income $21,203 $44,424 Total Income $1,965,555 $1,508,004 Expenses Grants Paid (2020); Grants Committed (2019) $563,094 $457,500 Other expenses (Note 3) $31,385 $89,387 Total Expenses $594,479 $546,887 Note 1: Cash balances reflect funds raised to be granted during the following year. On June 2, 2021 WFBoston announced additional grant commitments of $1,078,736. Note 2: As of 2020, WFBoston accounts for grants on a conditional basis as per FASB Topic 958. Of the total grant commitments of $1,735,577 at year end 2020, $595,000 were non-binding grant liabilities and $145,000 were grants committed prior to the accounting change. Note 3: Other expenses include insurance, auditing, software licensing and externally funded consulting project fees. 2020 2019