2020 Annual Report - Finances
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.
FISCAL YEAR 2020
In 2020, Ploughshares Fund raised $7,543,575, including $917,769 committed to long-term investment. We gave grants totaling $4,800,229 and spent $1,730,497 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, 80% 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.
We have adjusted our operations in response to COVID-19 and have remained fully staffed without participating in government assistance programs including the Paycheck Protection Program assistance.
In 2020, Ploughshares Fund’s investments lost $328,466 compared to a gain of $187,609 in 2019. Ploughshares Fund’s investment portfolio is actively managed by the Fund’s investment committee with counsel of an investment manager.
At June 30, 2020, Ploughshares Fund’s net assets were $27,630,149 compared to net assets at June 30, 2019 of $28,617,735. Of the 2020 total net assets, $25,668,175 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.
Financial Report 1
|SUPPORT AND REVENUE||2020||2019|
|Changes in value of split-interest agreements||2,677||4,677|
|TOTAL SUPPORT AND REVENUE||7,217,786||4,883,208|
|Grants from Ploughshares Fund||4,427,229||3,924,700|
|Grants from Cowles Fund||373,000||275,000|
|Supporting Services 2|
|CHANGE IN NET ASSETS||-987,586||-3,089,880|
|NET ASSETS, BEGINNING OF YEAR||28,617,735||31,707,615|
|NET ASSETS, END OF YEAR||27,630,149||28,617,735|
|ASSETS AND LIABILITIES||2020||2019|
|Cash and cash equivalents||2,163,836||126,782|
|Promises to give||956,607||1,439,078|
|Interest receivable and other assets||90,518||91,987|
|Fixed assets (less accumulated depreciation and amortization)||10,218||23,420|
|Accounts payable and accrued expenses||135,689||181,580|
|Without donor restrictions||2,188,599||3,959,499|
|With donor restrictions||25,441,550||24,658,236|
|TOTAL NET ASSETS||27,630,149||28,617,735|
|TOTAL LIABILITIES AND NET ASSETS||28,889,354||30,137,855|
- Our complete audited financial statements are available upon request. The above numbers have been audited.
- All administrative and development expenses are covered by contributions from Ploughshares Fund’s Board of Directors and a draw from our capital reserve.
- These assets include investments in Ploughshares’ Pooled Income Fund.