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Annual Report 2001/2002
Financial Growth 2000/2001 |
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Growth and Grantmaking |
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| BALANCE SHEET - |
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2001 |
2000 |
| Accounting years ending December
31 |
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| Assets |
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Cash and Cash Equivalents |
$2,581,381 |
$2,324,627 |
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Pledged Donations Receivable |
1,960,808 |
649,780 |
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Investments |
7,143,294 |
7,109,174 |
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Equipments, net of accumulated |
47,062 |
9,787 |
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depreciation of $ 10,931 in 2001 |
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and $5,728 in 2000 |
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Prepaid Expenses |
2,393 |
0 |
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Deposit |
2,394 |
0 |
| TOTAL ASSETS |
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$11,737,332 |
$10,093,368 |
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| Liabilities |
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Accounts payable and accrued liabilities |
22,296 |
103,141 |
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Grants payable |
0 |
2740 |
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Donor pass-through funds payable |
8,793 |
14,825 |
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Charitable remainder trust distribution |
16,757 |
2,217 |
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payable |
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Present value of future distributions from |
85,754 |
110,651 |
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charitable remainder trusts |
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Assets held for other not-for-profit |
646,196 |
683,611 |
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organizations |
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| TOTAL LIABILITIES |
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779,796 |
917,185 |
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| Net Assets-Unrestricted |
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Undesignated |
8,996,728 |
8,589,799 |
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Designated by board |
1,960,808 |
586,384 |
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| TOTAL UNRESTRICTED NET |
$10,957,536 |
$9,176,183 |
| ASSETS |
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| TOTAL LIABILITIES AND |
$11,737,332 |
$10,093,368 |
| NET ASSETS |
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| STATEMENT OF ACTIVITIES –
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| Accounting years ending Dec. 31 |
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| Revenue and Other Support |
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Contributions |
4,040,740 |
2,973,524 |
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Less amounts received as agency |
(34,473) |
(10,916) |
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endowments |
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Less amounts received as donor |
(76,560) |
(18,976) |
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pass-through funds |
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Net contributions |
3,929,707 |
2,772,846 |
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Program revenue |
201,137 |
167,073 |
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Special events |
22,419 |
63,647 |
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In-Kind donations |
273,844 |
30,666 |
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Interest |
268,965 |
445,694 |
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Net gains in investments |
0 |
0 |
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Other |
1,529 |
1,723 |
| Total Revenue and Other Support |
4,697,601 |
3,481,649 |
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| Functional Expenses |
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Program services - grants |
1,648,177 |
700,870 |
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Less grants made from agency endowments |
(12,562) |
(5,000) |
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Less grants made from donor |
(137,577) |
(225,039) |
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pass-through funds |
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Net program services - grants |
1,498,038 |
470,831 |
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Other program service expenditures |
409,646 |
181,770 |
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Supporting services |
319,455 |
242,359 |
| TOTAL FUNCTIONAL EXPENSES |
2,227,139 |
894,960 |
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| Net Loss on Investments |
689,109 |
728,806 |
| TOTAL FUNCTIONAL EXPENSES |
2,916,248 |
1,623,766 |
| AND LOSS ON INVESTMENTS |
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| Income Before Cumulative Effect
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0 |
1,857,883 |
| of Change in Accounting Principle |
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| Cumulative Effect of Change |
0 |
(710,458) |
| in Accounting Principle |
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| CHANGE IN NET ASSETS |
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1,781,353 |
1,147,425 |
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| Net Assets, Beginning of Year |
9,176,183 |
8,028,758 |
| Net Assets, End of Year |
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$10,957,536 |
$9,176,183 |
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