Financials & Investments

W.K. Kellogg Foundation and W.K. Kellogg Foundation Trust
Condensed Combined Financial Information
For the Years Ended August 31, 2015 and 2014

Statement of Financial Position

2015

2014

Combined  W.K. Kellogg
Foundation
 W.K. Kellogg
Foundation Trust
Combined  W.K. Kellogg
Foundation
 W.K. Kellogg
Foundation Trust
Assets $8,447,155,607 $418,990,707 $8,028,164,900 $8,621,183,526 $448,430,564 $8,172,752,962
Liabilities $586,408,743 $295,038,882 $291,369,861 $574,761,294 $318,609,162 $256,152,132
Net Assets $7,860,746,864 $123,951,825 $7,736,795,039 $8,046,422,232 $129,821,402 $7,916,600,830
Total Liabilities and Net Assets $8,447,155,607 $418,990,707 $8,028,164,900 $8,621,183,526 $448,430,564 $8,172,752,962

Statement of Activities

2015

2014

Combined  W.K. Kellogg
Foundation
 W.K. Kellogg
Foundation Trust
Combined  W.K. Kellogg
Foundation
 W.K. Kellogg
Foundation Trust
Contributions from W.K. Kellogg Foundation Trust $367,000,000 $365,000,000
Investment Revenues – Net Cost of Earning Income $170,641,389 ($18,137,783) $188,779,172 $865,030,828 $31,812,878 $833,217,950
Other Revenue $2,059,183 $2,059,183 $2,134,607 $2,134,607
Total Revenues $172,700,572 $350,921,400 $188,779,172 $867,165,435 $398,947,485 $833,217,950
Contributions to the W.K. Kellogg Foundation $367,000,000 $365,000,000
Grant Expenses $268,064,563 $268,064,563 $310,613,568 $310,613,568
Program Activities $24,781,242 $24,781,242 $26,904,190 $26,904,190
General Operations $60,719,108 $60,719,108 $58,559,048 $58,559,048
Depreciation $3,692,953 $3,692,953 $3,964,880 $3,964,880
Federal Excise Tax Provisions $1,118,074 ($466,889) $1,584,963 $10,230,955 $381,667 $9,849,288
Total Expenses $358,375,940 $356,790,977 $368,584,963 $410,272,641 $400,423,353 $374,849,288
Change in Net Assets ($185,675,368) ($5,869,577) ($179,805,791) $456,892,794 ($1,475,868) $458,368,662
Net Assets at Beginning of Year $8,046,442,232 $129,821,402 $7,916,600,830 $7,589,529,438 $131,297,270 $7,458,232,168
Net Assets at End of Year $7,860,746,864 $123,951,825 $7,736,795,039 $8,046,422,232 $129,821,402 $7,916,600,830

The W.K. Kellogg Foundation’s and W.K. Kellogg Foundation Trust’s financial statements are audited by Mitchell & Titus, LLP. A full set of the audited financial statements is available on the foundation’s website (in the financials tab). Here is the full 2015 Financial Statements report for download.


Summary of Investments

Investment Asset Values and Time Weighted Return

Year  Foundation  Trust Total Time Weighted Return
2006 $384,395,869 $7,263,425,219 $7,647,821,088 12.3%
2007 $430,995,061 $7,798,733,829 $8,229,728,890 13.2%
2008 $429,534,145 $7,478,548,285 $7,908,082,430 0.10%
2009 $309,059,236 $6,293,862,729 $6,602,921,965 -10.80%
2010 $310,944,822 $6,548,114,152 $6,859,058,974 8.60%
2011 $396,532,820 $6,997,685,489 $7,394,218,309 12.70%
2012 $363,384,685 $6,657,481,744 $7,020,866,429 -0.80%
2013 $350,793,093 $7,505,377,868 $7,856,170,961 17.0%
2014 $370,236,891 $8,016,072,165 $8,386,309,057 11.20%
2015 $344,882,208 $7,834,236,664 $8,179,118,872 2.20%

Trust

Foundation

Total  Percentage Total Percentage
Cash $102,435,410 1% $33,280,322 10%
Kellogg Stock $4,664,401,313 59%
Public Equities $523,121,969 6% $138,524,924 40%
Fixed Income Securities $251,570,270 3% $48,593,452 14%
Private Equity Funds $604,557,059 7% $53,148,436 15%
Hedge Funds $527,689,724 6% $44,703,660 13%
Commigled Fnds $993,701,549 12% $12,569,774 4%
Real Estate Funds $166,759,370 2% $14,061,640 4%
TOTAL $7,834,236,663 100% $334,882,208 100%

Combined Foundation and Trust Asset Allocation

*Hover to view amounts


Summary of Grants

Grant Commitments by Year

 

Grant Payments by Year

 

Foundation Payout by Year