FINANCIAL HIGHLIGHTS
| 2020 | 2019 | ||
| Consolidated Statements of Activities: | |||
| Contributions | $ 11,564,764 | $ 9,988,444 | |
| Less amounts received for agencies | (2,554,970) | (2,551,026) | |
| Investment Return, net | 18,820,614 | 31,420,160 | |
| Royalty income | 796,990 | 1,915,701 | |
| Change in Values of Royalties, Trusts and Bequests | (2,677,490) | 903,294 | |
| Gain on Sale of Assets | (4,092) | 3,821,248 | |
| Other Income, Including Grant Recissions | 405,370 | 419,968 | |
| Total Revenues, Gains and Support | 26,351,186 | 45,917,789 | |
| Grants and Scholarships | 9,089,494 | 13,716,578 | |
| Less amounts granted to agencies | (647,210) | (3,267,555) | |
| Program Services | 361,507 | 485,965 | |
| Fundraising | 188,402 | 289,107 | |
| General and Administrative Expenses | 1,473,378 | 1,640,017 | |
| Increase in Net Assets | $ 15,885,615 | $ 33,053,677 | |
| Consolidated Statements of Financial Position: | |||
| Cash and Cash Equivalents | $ 11,411,733 | $ 4,568,197 | |
| Beneficial Interest in Remainder Trust | 1,679,623 | 1,775,772 | |
| Beneficial Interest in Lead Trust | 1,007,043 | 1,050,422 | |
| Beneficial Interest in Royalty Trust | 3,604,527 | 5,054,085 | |
| Bequest Receivable | 1,601,091 | - | |
| Financial Investments | 208,948,002 | 195,360,692 | |
| Oil and Gas Royalties - held for sale | 7,589,100 | 8,807,340 | |
| Property and Equipment, net of Depreciation | 4,338,197 | 4,457,111 | |
| Total Other Assets | 617,018 | 569,977 | |
| Total Assets | $ 240,796,334 | $ 221,643,596 | |
| Accounts Payable | - | 65,416 | |
| Grants and Scholarships Payable | 406,000 | 1,086,225 | |
| Funds Held for Agencies | 25,522,729 | 21,482,465 | |
| Agency Transactions Payable | 42,500 | 70,000 | |
| Refundable Advance | 300,000 | 300,000 | |
| Total Liabilities | 26,271,229 | 23,004,106 | |
| Net Assets without Donor Restrictions | 203,579,302 | 187,708,116 | |
| Net Assets with Donor Restrictions | 10,945,803 | 10,931,374 | |
| Total Net Assets | $ 214,525,105 | $ 198,639,490 | |
| Total Liabilities and Net Assets | $ 240,796,334 | $ 221,643,596 | |
Financial information on this page has been summarized from the audited financial statements of Permian Basin Area Foundation.
Auditors Report: Permian Basin Area Foundation financial statements for the years ended December 31, 2020 and 2019 were audited by Johnson & Sheldon, PLLC of Amarillo, Texas, an independent public accounting firm. Copies of the audited financial statements are available upon request at the Foundation office.