Financial Statements
Financial Statements
The foundation's highest priority is to ensure that our grantees have the resources necessary to address today's most pressing social justice challenges. This requires steady engagement and thoughtful management of our economic resources. We strive to invest and budget in ways that produce stable grant making, while preserving the value of our investment portfolio for future grant making.
The foundation is committed to providing clear and timely information on its finances and grant making and to maintaining strict oversight and controls over its financial operations. As such, the foundation engages PricewaterhouseCoopers to perform an annual audit of its financial statements. These statements present the foundation's financial position and statement of activities for the fiscal years ended September 30, 2011 and 2010.
Report of Independent Auditors
To The Board of Trustees of the Ford Foundation:
In our opinion, the accompanying statements of financial position and the related statements of activities and cash flows present fairly, in all material respects, the financial position of the Ford Foundation at September 30, 2011 and 2010, and the changes in its net assets and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Ford Foundation's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
- December 14, 2011 New York, N.Y.
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