The investment policy followed by the Foundation represents an attempt to maintain an asset mix designed to achieve the highest expected return with the least amount of risk. The Foundation has a portfolio consisting of cash, fixed income, credit, equity, diversifying strategies, real assets and private equity to diversify the portfolio’s assets with an emphasis on capital preservation.
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 Condensed Statement of Financial Position as at December 31, 2021
Assets |
2021 | 2020 |
| Cash and accounts receivable | $3,228,222 | $2,817,455 |
| Stocks and other Securities (at Market Value) | $62,010,178 | $57,800,188 |
| $65,238,400 | $60,617,643 |
Liabilities |
||
| Accounts Payable | $73,708 | $70,139 |
Fund Balances |
||
| Capital Funds (at Market Value) | $65,164,692 | $60,547,504 |
| $65,164,692 | $60,547,504 | |
| $65,238,400 | $60,617,643 |
The McLean Foundation Condensed Statement of Operations Year ended December 31, 2021
Revenue |
||
| Bequest | $500,000 | $0 |
| Dividends | $389,358 | $432,727 |
| Bond and Debenture Interest | $142 | $6,524 |
| Other Income | $933,643 | $907,413 |
| Capital gain distributions from mutual funds | $1,027,273 | $786,361 |
| Realized gain on investments sold | $2,491,268 | $1,146,601 |
| Unrealized gain (loss) on investments | $2,740,370 | $2,092,094 |
| $8,082,054 | $5,371,720 |
Expenditure |
||
| Administrative Expenses | $412,601 | $348,721 |
| Income before charitable donations paid | $7,669,453 | $5,022,999 |
| Charitable donations paid | ($3,055,210) | ($2,787,900) |
| Foreign exchange gain (loss) | $2,945 | ($47,391) |
| Excess of revenue over expenditure | $4,617,188 | $2,187,708 |