|
Statement of Activities and Changes in Unrestricted Net Assets For the year ended December 31, 2005 (Audited) |
|
| Revenues | |
| Contributions and Grants | $ 375,873 |
| Investment Income | 457,766 |
| Unrealized gain (loss) on investments | (232,964) |
| TOTAL REVENUES | 600,665 |
| Expenses | |
| Program services | 709,043 |
| Management and general | 43,484 |
| Fundraising | 8,391 |
| TOTAL EXPENSES |
760,918 |
| CHANGES IN UNRESTRICTED NET ASSETS | (160,253) |
| UNRESTRICTED NET ASSETS -- BEGINNING | 13,734,870 |
| UNRESTRICTED NET ASSETS -- ENDING | $13,574,617 |
| ========= | |
| STATEMENT OF FINANCIAL POSITION | |
| Assets | |
| Cash and cash equivalents | $ 304,566 |
| Pledge receivables | -0- |
| Investements | 14,039,336 |
| Prepaid Expenses | 2,439 |
| Property and equipment | |
| Furniture and equipment: | 71,279 |
| Accumulated depreciation: | (37,366) |
| TOTAL PROPERTY AND EQUIPMENT | 33,913 |
| TOTAL ASSETS | 14,380,244 |
| LIABILITIES AND UNRESTRICTED NET ASSETS | |
| Agency endowment liability | $ 326,190 |
| Accounts Payable | 32,955 |
| Grants and scholarships payable | 443,875 |
| Accrued payroll and related taxes | 2,607 |
| TOTAL LIABILITIES | 805,627 |
| UNRESTRICTED NET ASSETS | 13,574,617 |
| TOTAL LIABILITIES AND UNRESTRICTED NET ASSETS | $14,380,244 |
| ========== | |