Statement of
Activities and
Changes in Unrestricted Net Assets
For the year ended December 31, 2003
|
| Revenues |
|
| Contributions
and Grants |
$ 496,680 |
| Investment
Income |
438,201 |
| Unrealized gain
(loss) on investments |
1,566,787 |
|
TOTAL REVENUES |
2,501,668 |
|
|
| Expenses |
|
| Program
services |
308,924 |
| Management and
general |
56,722 |
| Fundraising |
7,393 |
|
TOTAL EXPENSES
|
373,039 |
|
|
| CHANGES IN
UNRESTRICTED NET ASSETS |
2,128,629 |
| UNRESTRICTED
NET ASSETS -- BEGINNING |
11,004,250 |
| UNRESTRICTED
NET ASSETS -- ENDING |
$13,132,879 |
|
========= |
| STATEMENT
OF FINANCIAL POSITION |
|
|
| Assets |
|
| Cash and cash
equivalents |
$
255,481 |
| Pledge
receivables |
314,515 |
| Investements |
13,202,434 |
| Prepaid
Expenses |
2,164 |
|
|
| Property and
equipment |
|
|
Furniture and equipment: |
39,507 |
|
Accumulated depreciation: |
(24,427) |
|
TOTAL PROPERTY AND EQUIPMENT |
15,080 |
|
TOTAL ASSETS |
13,789,674 |
|
|
| LIABILITIES
AND UNRESTRICTED NET ASSETS |
|
| Agency
endowment liability |
$ 384,982 |
| Grants and
scholarships payable |
269,850 |
| Accrued payroll
and related taxes |
1,963 |
| TOTAL
LIABILITIES |
656,795 |
|
|
| UNRESTRICTED
NET ASSETS |
13,132,879 |
|
|
| TOTAL
LIABILITIES AND UNRESTRICTED NET ASSETS |
$13,789,674 |
|
========== |