2018 Annual Report - Finances

Fiscal Year 2018


Ploughshares Fund’s programmatic services and grants are aimed at activities that have the potential to affect public policy by reaching policymakers, the media and the public with vital information about nuclear weapons and other international security issues.

To ensure maximum impact, all annual contributions go directly to grantmaking and programmatic activities, with nothing subtracted for administration or development.

In 2018, Ploughshares Fund raised $5,976,393, including $38,400 committed to long term investment. We gave grants totaling $4,177,888 and spent $3,419,453 on other programmatic activity, including $1,808,515 in N Square expenses.* Administrative and development expenses are paid for by the Fund’s Board of Directors and a draw from our capital reserves. This year, 80% of our budget was spent on grantmaking and program services, exceeding standards set by the National Charities Information Bureau/Better Business Bureau and Charity Navigator.

In 2018, Ploughshares Fund’s investments gained $1,945,775 compared to a gain of $4,459,538 in 2017. Ploughshares Fund’s investment portfolio is actively managed by the Fund’s investment committee with counsel of an investment manager.

On June 30, 2018, Ploughshares Fund’s net assets were $31,707,615 compared to net assets on June 30, 2017 of $33,239,759. Of the 2018 total net assets, $31,286,569 is held in our capital reserves, which were established to ensure that we will be able to continue our mission to eliminate the threat of nuclear weapons despite any potential external shocks that may arise.

* N Square is the product of a joint funding initiative of the John D. and Catherine T. MacArthur Foundation, the Carnegie Corporation of New York, Ploughshares Fund, and the Skoll Fund.

Financial Report

Contributions 5,976,393 6,541,682
Investment return 1,945,775 4,459,538
Changes in value of split-interest agreements 4,676 4,676
TOTAL SUPPORT AND REVENUE 7,926,844 11,005,896
EXPENSES 2018 2017
Program Services    
Grants from Ploughshares Fund 3,861,888 3,603,130
Grants from Cowles Fund 316,000 459,000
Program support 3,419,453 3,367,744
Supporting Services 1    
General administration 693,895 668,299
Development 1,167,752 1,220,726
TOTAL EXPENSES 9,458,988 9,318,899
CHANGE IN NET ASSETS -1,532,144 1,686,997
NET ASSETS, BEGINNING OF YEAR 33,239,759 31,552,762
NET ASSETS, END OF YEAR 31,707,615 33,239,759


For fiscal year ended June 30, 2018    
ASSETS 2    
Cash and cash equivalents 3 523,589 1,721,334
Promises to give 985,381 856,108
Interest receivable and other assets 115,273 130,209
Long-term investments 31,286,569 32,040,357
Fixed assets (less accumulated depreciation and amortization) 36,622 56,750
TOTAL ASSETS 32,947,434 34,804,758
Accounts payable and accrued expenses 250,853 354,674
Grants payable 1,125,684 1,192,046
Deferred revenue 13,603 18,279
TOTAL LIABILITIES 1,390,140 1,564,999
Unrestricted 6,648,123 7,752,435
Temporarily restricted 19,304,490 19,684,935
Permanently restricted 5,755,002 5,802,389
TOTAL NET ASSETS 31,707,615 33,239,759

Our complete audited financial statements are available upon request.
The above numbers have been audited.

  1. All administrative and development expenses are covered by contributions from Ploughshares Fund’s Board of Directors and the annual draw from the capital reserves.
  2. These assets include investments in Ploughshares’ Pooled Income Fund.
  3. 2017 included $611,293 restricted to funding N Square in fiscal year 2018.