The investment policy followed by the Foundation represents an attempt to steer a middle course between fixed income investments, which offer the highest immediate income but little protection against inflation, and common stocks, which generally yield a relatively low immediate dividend but which show promise of dividend growth and appreciation in value. By this means, the Directors hope to provide substantial income available for current disbursement, with a reasonable prospect that income in future years may grow sufficiently to permit meaningful contributions in line with the increasing needs of recipient organizations.

The McLean Foundation Statement of Financial Position as at December 31, 2019

Assets
2019 2018
Cash and accounts receivable $513,706 $324,966
Stocks and other Securities (at Market Value) $57,914,306 $53,151,406
$58,428,012 $53,476,372

 

Liabilities
Accounts Payable $68,216 $137,891

 

Fund Balances
Capital Funds (at Market Value) $58,359,796 $61,118,745
Operating Fund $0 ($7,780,264)
$58,359,796 $53,338,481
$58,428,012 $53,476,372

 

Revenue
 Dividends $456,497 $423,454
Bond and Debenture Interest $40,465 $29,522
Other Income $1,052,301 $974,888
$1,549,263 $1,427,864

 

Expenditure
Administrative Expenses $360,962 $342,872
Income before charitable donations paid $1,188,301 $1,084,992
Charitable donations paid ($2,036,400) ($2,322,400)
Net Loss for the year ($848,099) ($1,237,408)
Operating Fund, beginning of year ($7,780,264) ($6,542,856)
Inter Fund Transfer $8,628,363 $0
Operating Fund, end of year $0 ($7,780,264)