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2010 Financial Information
The Foundation’s finances and investments are guided by the mission to increase the real (inflation adjusted) value of the investment portfolio in perpetuity, after all spending, in order for the Foundation’s work to benefit both current and future generations. It is rooted in the belief that the organization is not just here to help Kansans today, but also in the future.
Kansas Health Foundation
Balance Sheet ($000's)
December 31, 2010
(Unaudited - accrual basis)
| Assets | ||
| Cash and investments (Note 1) | $471,677 | |
| Receivables | 355 | |
| Other assets | 4,329 | |
| $476,361 | ||
| Liabilities and Net Assets | ||
| Liabilities | ||
| Payables and accrued expenses | 1,860 | |
| Grants payable (Note 2) | 35,171 | |
| Total liabilities | 37,031 | |
| Net Assets | $439,330 | |
| $476,361 | ||
| Commitments (Note 3) | ||
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Kansas Health Foundation |
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| Statement of Activity and Changes in Net Assets ($000's) | ||
| Year Ended December 31, 2010 | ||
| (Unaudited - accrual basis) | ||
| Revenue | ||
| Interest and dividend income | $5,096 | |
| Net realized and unrealized gains on investments | 49,421 | |
| Investment management expenses | (2,094) | |
| Other income | 481 | |
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| Total revenue | 52,904 | |
| Program grants | ||
| Grants approved (Note 2) | 26,322 | |
| Grant refunds/write-offs | (3,139) | |
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| Total program grants | 23,183 | |
| Operating expenses | ||
| Charitable activities and grants administration | 3,189 | |
| Excise taxes and other expenses | 1,303 | |
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| Total operating expenses | 4,492 | |
| Increase in net assets | 25,229 | |
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| Net assets, beginning of year | 414,101 | |
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| Net assets, end of year | $439,330 | |
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Kansas Health Foundation |
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| Statement of Amounts Paid for Charitable Purposes ($000's) | ||
| Year Ended December 31, 2010 | ||
| (Unaudited - cash basis) | ||
| Grants paid (Note 2) | $18,323 | |
| Disbusements for charitable activities and grants administration (Note 2) | 3,059 | |
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Total amount paid for charitable purposes |
$21,382 | |
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Kansas Health Foundation |
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| Notes to Financial Statements | ||
| Year Ended December 31, 2010 | ||
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(1) Cash and Investments |
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Cash and investments are presented at estimated fair value in the accompanying balance sheet. A summary of cash and investments follows: |
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| ($000's) | ||
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Cash and cash equivalents |
$6,488 | |
| Fixed income investments | 96,848 | |
| Equity investments | 368,341 | |
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Total cash and investments |
$471,677 | |
(2) Grants Approved and Payable
The Foundation prepares its financial statements on the accrual basis of accounting. In the accompanying balance sheet and statement of activity, grants approved are recorded as expenses and liabilities when the Foundation has an obligation to transfer assets to a grantee. Grants are recorded based on the discounted present value of estimated future cash flows, discounted at a market rate of interest. Many grants are disbursed over a period of years.
(3) Commitments
As of December 31, 2010, the Foundation Board of Directors had authorized grants (in excess of grants payable) totaling approximately $37.3 million.
The following charts are interactive. Click on a datapoint to get more detail about a specific item.
Portfolio Asset AllocationAs of December 31, 2010
U.S. Equities - Passive
10% |
Historical Average Assets ($)
Qualifying Distributions ($)
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