 |
2007
FINANCIAL INFORMATION |
 
|
| STATEMENT
OF FINANCIAL POSITION |
ASSETS |
|
|
| Current
Assets: |
2006 |
2007 |
| Cash
and Cash Equivalents |
$
301,192 |
$
59,749 |
| Short-term cash investments |
938,888 |
2,634,284 |
| Accounts receivable |
472 |
593 |
| Contributions
receivable |
1,843,909 |
1,843,909 |
| Interest receivable |
66,000 |
59,791 |
| Prepaid insurance |
3,466 |
3,620 |
| Other
prepayments |
2,557 |
2,281 |
|
Total Current Assets |
$ 3,156,484 |
$4,604,227 |
| |
|
|
| Fixed Assets: |
|
|
| Equipment
and software |
48,905 |
47,905 |
| Less:
Accumulated depreciated |
(32,862) |
(35,748) |
| Total fixed assets |
$ 16,043 |
$ 11,608 |
| |
|
|
| Other Assets: |
|
|
| Investments - at market |
21,033,667 |
20,529,032 |
| Cash
surrender value - life insurance |
152,886 |
165,995 |
| Total
other assets |
21,186,553 |
20,695,027 |
| |
|
|
| Total Assets |
$ 24,359,080 |
$ 25,310,862 |
| |
|
|
LIABILITIES
AND NET ASSETS |
|
|
| Current
Liabilities: |
|
|
| Agency endowment funds |
1,081,420 |
1,005,570 |
| Accounts payable |
3,836 |
5,705 |
| Accrued payroll |
12,933 |
13,583 |
| Payroll taxes payable |
4,926 |
4,435 |
| Total
current liabilities |
$ 1,103,115 |
$ 1,029,293 |
| |
|
|
| Net Assets: |
|
|
| Unrestricted |
11,126,497 |
11,110,013 |
| Temporarily
restricted |
787,805 |
895,435 |
| Permanently
restricted |
11,341,663 |
12,276,121 |
| Total
Net Assets |
23,255,965 |
24,281,569 |
| |
|
|
| Total
Liabilities and Net Assets |
$
24,359,080 |
$
25,310,862 |
REVENUE
AND SUPPORT: |
|
|
| Contributions |
3,587,904 |
1,496,803 |
| Investment
income |
417,545 |
456,203 |
| Realized gain
on sale of investments |
958,075 |
1,104,616 |
| Unrealized
gain on investments |
547,796 |
(575,818) |
| Other
revenue |
15,325 |
12,908 |
| Administrative
fees |
|
|
| Charitable grants |
|
|
| Net asset reclassifications |
|
|
| Net assets released from restrictions |
|
|
| Total
revenue and support |
$ 5,526,645 |
$ 2,494,712 |
| |
|
|
EXPENSES: |
|
|
|
Program services |
1,029,295 |
1,229,670 |
|
Supporting services-Management and general |
291,028 |
287,359 |
| Fundraising expenses |
|
27,929 |
|
Total Expenses |
$ 1,320,323 |
$ 1,544,958 |
| |
|
|
| Net Change in All Funds |
4,206,322 |
949,754 |
| |
|
|
| Change
in Agency Endowment Funds |
(22,763) |
75,850 |
| |
|
|
| Change in Net Assets |
4,183,559 |
1,025,604 |
| Net Assets - BEGINNING OF YEAR |
19,072,406 |
23,255,965 |
| Net Assets - END OF YEAR |
$
23,255,965 |
$
24,281,569 |
| |
|
|
|
| |
The Finance Committee of the Foundation Board of Directors is responsible for overseeing the investment of our assests. The names of investment managers and fees charged are available upon request from our office. Full Audited Financial Statements and our IRS Form 990 are also available in the Foundation office |
|
|
