Borealis Philanthropy
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 50,610,882 | 36,411,224 | 14,199,658 | 13.3 | 10% |
| 2021 | 83,860,189 | 39,182,151 | 44,678,038 | 26.0 | 8% |
| 2022 | 37,532,996 | 45,590,858 | −8,057,862 | 20.3 | 10% |
| 2023 | 39,366,975 | 44,560,166 | −5,193,191 | 19.7 | 13% |
In its most recent public year (2023), this organization spent $5,193,191 more than it brought in. Its reserves stood at about 19.7 months of spending, up from 13.3 in 2020. Staff pay was 13% of spending. $58,872,162 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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