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SVCF 2019 2019 Annual Report

Consolidated Statements of Financial Position

Consolidated Statements of Financial Position

December 31, 2019 and 2018 (in thousands)


Cash and cash equivalents$104,749$166,792
Contributions and grants receivable$5,617$11,332
Notes and other receivables$20,643$12,193
Beneficial interest in charitable remainder trusts$5,596$4,904
Property and equipment, net$33,542$34,710
Intangible assets$27,613$63,524
Other assets$747$775
Total assets$10,287,001$8,886,194

Liabilities and Net Assets

Grants payable, net $629,421$616,885
Accounts payable and accrued liabilities$5,695$6,542
Liabilities to beneficiaries from split interest agreements$18,324$18,740
Deposits held for others$124,437$118,390
Total liabilities$777,877$760,557
Net Assets
(Without donor restrictions) Undesignated$9,144,857$7,862,144
(Without donor restrictions) Designated by the Board for endowment$73,499$70,611
Total$9,218,356 $7,932,755
(With donor restrictions) Charitable remainder trusts and irrevocable plan gifts$16,354$14,891
(With donor restrictions) Special projects$9,009$22,810
(With donor restrictions) Endowment$265,405$155,181
Total net assets$9,509,124$8,125,637
Total liabilities and net assets$10,287,001 $8,886,194

Revenues and Support

Revenues & Support 2019 2018
Without Donor Restrictions
With Donor Restrictions
Investment income (loss), net$1,407,996$121,937$1,529,933$(62,088)
Change in value of split interest agreements$1,984$1,923$3,907$12,297
Other income$5,628-$5,628$6,297
Net assets released from restriction
pursuant to endowment spending-rate
distribution formula
Net assets released from restrictions
and reclassifications
Total Revenues & Support$2,798,505$97,886$2,896,391$1,865,916
Grants awarded$1,458,212-$1,458,212$1,935,311
General and administrative$15,996-$15,996$16,751
Fundraising and development$4,902-$4,902$4,375
Total Expenses$1,512,904-$1,512,904$1,997,563
Changes in Net Assets$1,285,601$97,886$1,383,487($131,647)
Net Assets beginning of year$7,932,755$192,882$8,125,637$8,257,284
Net Assets End of year$9,218,356$290,768$9,509,124$8,125,637
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Our 2020 Board Represents the Silicon Valley Community