Financial Review

Statements of Financial Position

(000s omitted)
DECEMBER 31, 2009 2008
Assets
Cash 912 339
Investments 738,438 629,670
Collateral received under
securities lending program		 31,783 16,739
Other assets 2,098 3,064
Total Assets 773,231 649,812
Liabilities and Net Assets
Grants payable 11,408 18,549
Other liabilities 1,099 2,362
Payable under securities lending program 31,783 16,739
Deferred federal excise tax payable 450 —
Total Liabilities 44,740 37,650
     
Net assets—unrestricted 728,491 611,048
Net assets—temporarily restricted 1,099 —
Total Net Assets 728,491 612,162
Total Liabilities and Net Assets 773,231 649,812

Statements of Activities

(000s omitted)
YEAR ENDED DECEMBER 31, 2009 2009 2009 2008
  Unrestricted Temporarily
Restricted		 Total Total
Revenue
Contributions   — —  
Investment revenue   —    
Net realized
and unrealized gain		 140,265 — 140,265 (271,092)
Interest and dividends 12,704 — 12,704 16,117
Other income 287 — 287 630
  153,256 — 153,256 (254,345)
Investment expenses 2,080 — 2,080 2,992
Net investment revenue 151,176 — 151,176 (257,337)
Expenses
Grants awarded,
net of returns		 28,797 — 28,797 36,810
Administrative and
program expense		 5,486 — 5,486 5,562
Excise tax 564 — 564 (1,588)
Total expenses 34,847 — 34,847 40,784
Net assets
released from restrictions		 1,114 (1,114) — —
Increase (Decrease)
in Net Assets		 117,443 (1,114) 116,329 (298,121)
Net Assets,
at beginning of year		 611,048 1,114 612,162 910,283
Net Assets,
at end of year		 728,491 — 728,491 612,162

Published July 2010.
The Joyce Foundation’s most recent audited financial statements are posted at www.joycefdn.org.