Statement of
Activities and
Changes in Unrestricted Net Assets
For the year ended December 31, 2004
|
| Revenues |
|
| Contributions
and Grants |
$ 128,808 |
| Investment
Income |
582,989 |
| Unrealized gain
(loss) on investments |
680,903 |
|
TOTAL REVENUES |
1,392,700 |
|
|
| Expenses |
|
| Program
services |
725,894 |
| Management and
general |
57,027 |
| Fundraising |
7,788 |
|
TOTAL EXPENSES
|
790,709 |
|
|
| CHANGES IN
UNRESTRICTED NET ASSETS |
601,991 |
| UNRESTRICTED
NET ASSETS -- BEGINNING |
13,139,879 |
| UNRESTRICTED
NET ASSETS -- ENDING |
$13,734,870 |
|
========= |
| STATEMENT
OF FINANCIAL POSITION |
|
|
| Assets |
|
| Cash and cash
equivalents |
$
227,087 |
| Pledge
receivables |
-0- |
| Investements |
14,348,000 |
| Prepaid
Expenses |
2,163 |
|
|
| Property and
equipment |
|
|
Furniture and equipment: |
43,549 |
|
Accumulated depreciation: |
(30,467) |
|
TOTAL PROPERTY AND EQUIPMENT |
13,082 |
|
TOTAL ASSETS |
14,590,332 |
|
|
| LIABILITIES
AND UNRESTRICTED NET ASSETS |
|
| Agency
endowment liability |
$ 402,305 |
| Grants and
scholarships payable |
450,689 |
| Accrued payroll
and related taxes |
2,468 |
| TOTAL
LIABILITIES |
855,462 |
|
|
| UNRESTRICTED
NET ASSETS |
13,734,870 |
|
|
| TOTAL
LIABILITIES AND UNRESTRICTED NET ASSETS |
$14,590,332 |
|
========== |