The Gelvin Foundation, Inc.
Statement of Assets, Liabilities, and Net Assets
Modified Cash Basis
For the Year Ended December 31, 2020
Financial Statement
ASSETS
| Current Assets | |
| Cash | 172,693 |
| Investments in Marketable Securities | 9,800,931 |
| Certificates of Deposit | 1,591,918 |
| Prepaid Income Tax | 177 |
| Total Current Assets | $11,565,719 |
| Property and Equipment, At Cost | |
| Furniture and Fixtures | 1,495 |
| Accumulated Depreciation | -1,495 |
| Total property and Equipment, Net | 0 |
| Total Assets | $11,565,719 |
LIABILITIES AND NET ASSETS
| Current Liabilities | |
| Accounts Payable | 0 |
| Total Liabilities | 0 |
| Total Net Assets – Unrestricted | 11,565,719 |
| Total Liabilities and Net Assets | $11,565,719 |
The Gelvin Foundation, Inc.
Statement of Revenues, Expenses and Changes In Net Assets
Modified Cash Basis
For the Year Ended December 31, 2020
Revenues
| Interest Income | 44,202 |
| Dividend Income | 109,651 |
| Realized Gain/Loss on Investments | 626,427 |
| Miscellaneous Income | 0 |
| Net Unrealized Gain/Loss on Investments | 836,351 |
| Total Revenues | $1,616,631 |
Expenses
| Management and Professional Fees | 79,893 |
| Office Expense | 3,722 |
| Utilities | 1,065 |
| Charitable Donations | 428,200 |
| Federal Excise Tax | 4,003 |
| Total Expenses and Taxes | $516,883 |
| Change in Net Assets | 1,099,748 |
| Net Assets, Beginning of Year | 10,465,971 |
| Net Assets, End of Year | $11,565,719 |