2019 Annual Report - Finances

Fiscal Year 2019


Ploughshares Fund’s programmatic services and grants are aimed at activities that have the potential to affect public policy by reaching policymakers, the media and the public with vital information about nuclear weapons and other international security issues.

To ensure maximum impact, all annual contributions go directly to grantmaking and programmatic activities, with nothing subtracted for administration or development.

In 2019, Ploughshares Fund raised $4,690,922, including $694,000 committed to long term investment. We gave grants totaling $4,199,700* and spent $1,894,977 on other programmatic activity. Administrative and development expenses are paid for by the Fund’s Board of Directors and a draw from our capital reserves. This year, 76% of our budget was spent on grantmaking and program services, exceeding standards set by the National Charities Information Bureau/Better Business Bureau and Charity Navigator.

In 2019, Ploughshares Fund’s investments gained $187,609 compared to a gain of $1,945,775 in 2018. Ploughshares Fund’s investment portfolio is actively managed by the Fund’s investment committee with counsel of an investment manager.

On June 30, 2019, Ploughshares Fund’s net assets were $28,617,735 compared to net assets on June 30, 2018 of $31,707,615. Of the 2019 total net assets, $28,456,678 is held in our capital reserves, which were established to ensure that we will be able to continue our mission to eliminate the threat of nuclear weapons despite any potential external shocks that may arise.

* Actual grants awarded in 2019 totaled $4,249,700. However, a $50,000 Cowles Fund grant from 2018 was returned in late 2019 due to conditions on the ground where the work was to take place.

Financial Report 1

Contributions 4,690,922 5,976,393
Investment return 187,609 1,945,775
Changes in value of split-interest agreements 4,677 4,676
TOTAL SUPPORT AND REVENUE 4,883,208 7,926,844
EXPENSES 2019 2018
Program Services    
Grants from Ploughshares Fund 3,924,700 3,861,888
Grants from Cowles Fund 275,000 316,000
Program support 2 1,894,977 3,419,453
Supporting Services 3    
General administration 698,712 693,895
Development 1,179,699 1,167,752
TOTAL EXPENSES 7,973,088 9,458,988
CHANGE IN NET ASSETS -3,089,880 -1,532,144
NET ASSETS, BEGINNING OF YEAR 31,707,615 33,239,759
NET ASSETS, END OF YEAR 28,617,735 31,707,615


For fiscal year ended June 30, 2019    
ASSETS 4    
Cash and cash equivalents 126,782 523,589
Promises to give 1,439,078 985,381
Interest receivable and other assets 91,987 115,273
Long-term investments 28,456,678 31,286,569
Fixed assets (less accumulated depreciation and amortization) 23,420 36,622
TOTAL ASSETS 30,137,945 32,947,434
Accounts payable and accrued expenses 181,580 250,853
Grants payable 1,329,613 1,125,684
Deferred revenue 8,927 13,603
TOTAL LIABILITIES 1,520,120 1,390,140
Without donor restrictions 3,959,499 6,648,123
With donor restrictions 24,658,236 25,059,492
TOTAL NET ASSETS 28,617,735 31,707,615

  1. Our complete audited financial statements are available upon request. The above numbers have been audited.
  2. Fiscal year 2018 was the last year in which we served as the fiscal home of N Square, which accounted for $1.8 million of Program support and activities expense and $767,268 of contributed income in fiscal year 2018.
  3. All administrative and development expenses are covered by contributions from Ploughshares Fund’s Board of Directors and the annual draw from the capital reserves.
  4. These assets include investments in Ploughshares’ Pooled Income Fund.