Annual Report 2004 - Charles Stewart Mott Foundation

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STATEMENTS OF CASH FLOWS Charles Stewart Mott Foundation Years Ended December 31, 2004 2003 Supplemental schedule of investing activities: Realized gain (loss) on sale of assets: Equities $ 281,438,773 $ 192,715,122 U.S. Government obligations (12,364,870) (6,331,578) Corporate bonds (1,069,458) 113,637 Excess of contributed value over book value on donated securities 1,965,613 0 $ 269,970,058 $ 186,497,181 Supplemental schedule of noncash investing activities: Increase (decrease) in market value of investments: Equities $ (41,365,178) $ 259,026,749 U.S. Government obligations (4,080,889) (11,142,917) Corporate bonds (2,152,245) (2,154,519) $ (47,598,312) $ 245,729,313 Increase (decrease) in capital account value of limited partnerships $ 11,643,195 $ 4,844,816 The accompanying notes are an integral part of the financial statements. 80 CHARLES STEWART MOTT FOUNDATION
NOTES TO FINANCIAL STATEMENTS A. Mission & Grant Programs: The Charles Stewart Mott Foundation is a private grantmaking foundation established in 1926 in Flint, Michigan. The Foundation’s mission is “to support efforts that promote a just, equitable and sustainable society.” The Foundation’s grantmaking activity is organized into four major programs: Civil Society, Environment, Flint Area and Pathways Out of Poverty. Other grantmaking opportunities, which do not match the major programs, are investigated through the Foundation’s Exploratory and Special Projects program. B. Accounting Policies: The following is a summary of significant accounting policies followed in the preparation of these financial statements. Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Method of Accounting The financial statements have been prepared on the accrual basis of accounting, which includes recognition of dividends, interest, and other income and expenses as earned or incurred. Trustee and Executive Committee grant actions are recognized on the date of the action. Grants by the President or Executive Committee by specific authority conferred by the Trustees are recognized on the date the authority is exercised. Investments Investments are recorded on the trade date and are stated at market value based primarily on December 31 published quotations. Gains and losses from sales of securities are determined on an average cost basis. Investments in limited partnerships are generally recorded at capital account value. The capital account is adjusted for the Foundation’s proportionate share of undistributed earnings/losses as reported on Schedule K-1 received from the partnership at year end and adjusted based on the fair value of the underlying securities held by the partnership. The Foundation believes the capital account fairly reflects the fair value of the partnerships. The Foundation is party to certain limited partnership agreements, whereby the Foundation is committed to invest future funds into these partnerships. As of December 31, 2004, the Foundation has $79.7 million in outstanding limited partnership commitments, including both domestic and international partnerships. Other Assets Included in other assets is land that was purchased by the Foundation and is recorded at cost. The remaining assets included in other assets are recorded at cost. Land, Building and Improvements Land, building and improvements are recorded at cost. Upon sale or retirement of land, building and improvements, the cost and related accumulated depreciation are eliminated from the respective accounts, and the resulting gain or loss is included in current income. Depreciation of building and improvements is provided over the estimated useful lives of the respective assets on a straight line basis, ranging from 6 to 50 years. Assets with a cost basis of $97,943 and $26,900, along with the related accumulated depreciation, were retired during 2004 and 2003, respectively. 2004 2003 Land $ 397,852 $ 397,852 Building and improvements 8,055,655 8,044,034 Less accumulated depreciation (4,294,279) (4,001,566) $4,159,228 $4,440,320 continued 2004 ANNUAL REPORT 81
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2004 Annual Report REACHING ACROSS
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OUR VALUES Charles Stewart Mott’s
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C O N T E N T S ANNUAL MESSAGE Cons
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ANNUAL MESSAGE (Mott.org). But we d
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ANNUAL MESSAGE other data in a secu
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PROGRAMS & GRANTS Civil Society Env
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CIVIL SOCIETY: OVERVIEW addition, g
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decisions should be to first silenc
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CIVIL SOCIETY: OVERVIEW During trai
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CIVIL SOCIETY: OVERVIEW UNITED STAT
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CIVIL SOCIETY: GRANTS Community Fou
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CIVIL SOCIETY: GRANTS Freedom House
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CIVIL SOCIETY: GRANTS VOICE Associa
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CIVIL SOCIETY: GRANTS Synergos Inst
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CIVIL SOCIETY: GRANTS Independent E
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CIVIL SOCIETY: GRANTS National Alli
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Page 35 and 36: ENVIRONMENT: OVERVIEW The Two Heart
Page 37 and 38: and electricity privatization proje
Page 39 and 40: ENVIRONMENT: OVERVIEW continued fro
Page 41 and 42: ENVIRONMENT: GRANTS PUBLIC POLICY W
Page 43 and 44: ENVIRONMENT: GRANTS STRENGTHENING I
Page 45 and 46: ENVIRONMENT: GRANTS Michigan Suburb
Page 47 and 48: FLINT AREA: OVERVIEW for general op
Page 49 and 50: health-care workers has left the fi
Page 51 and 52: FLINT AREA: OVERVIEW The Genesee He
Page 53 and 54: FLINT AREA: GRANTS Arts, Culture an
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Page 57 and 58: PATHWAYS OUT OF POVERTY: OVERVIEW R
Page 59 and 60: closed,” Frieling said. “They
Page 61 and 62: PATHWAYS OUT OF POVERTY: OVERVIEW H
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Page 65 and 66: PATHWAYS OUT OF POVERTY: GRANTS Job
Page 67 and 68: PATHWAYS OUT OF POVERTY: GRANTS Nat
Page 69 and 70: PATHWAYS OUT OF POVERTY: GRANTS WOR
Page 71 and 72: PATHWAYS OUT OF POVERTY: GRANTS Bui
Page 73 and 74: PATHWAYS OUT OF POVERTY: GRANTS Spe
Page 75 and 76: EXPLORATORY & SPECIAL PROJECTS: GRA
Page 77 and 78: F I N A N C E
Page 79 and 80: PROFILE: 10-YEAR STATISTICS 1995-20
Page 81 and 82: STATEMENTS OF FINANCIAL POSITION Ch
Page 83: STATEMENTS OF CASH FLOWS Charles St
Page 87 and 88: NOTES TO FINANCIAL STATEMENTS E. Gr
Page 89 and 90: PEOPLE & PUBLICATIONS Board & Commi
Page 91 and 92: OFFICERS & STAFF Executive Office W
Page 93 and 94: PUBLICATIONS Mott Foundation Charle
Page 95 and 96: GUIDELINES & INDEX Grant Guidelines
Page 97 and 98: Checklist Formal proposals should c
Page 99 and 100: Clean Wisconsin . . . . . . . . . .
Page 101 and 102: L La Piana Associates, Inc. . . . .
Page 103 and 104: University of North Carolina at Cha
Page 105 and 106: CHARLES STEWART MOTT FOUNDATION Mot
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Annual Report 2004 - Charles Stewart Mott Foundation

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