YMCA of Greater Omaha

Transcription

1 Financial Statements and Independent Auditors' Report

2 Index Independent Auditors' Report 1 Page Financial Statements Statement of Financial Position 2 Statement of Activities and Change in Net Assets 3 Statement of Cash Flows Supplemental Information Independent Auditors' Report on Supplemental Information 18 Schedule of Functional Expenses 19

3 INDEPENDENT AUDITORS' REPORT Board of Directors YMCA of Greater Omaha Omaha, Nebraska Report on the Financial Statements We have audited the accompanying statement of financial position of YMCA of Greater Omaha as of, and the related statements of activities and changes in net assets and cash flows for the year then ended and the related notes to the financial statements. Management s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of YMCA of Greater Omaha as of, and the changes in its net assets and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. September 25, 2014

4 Statement of Financial Position ASSETS 2013 CURRENT ASSETS Cash and Cash Equivalents $ 1,086,248 Current Portion of Contributions Receivable (Note 2) 846,757 Other Receivables 51,236 Marketable Securities (Notes 3, 4 and 7) 2,940,001 Prepaid Expenses 82,661 Total Current Assets 5,006,903 PROPERTY AND EQUIPMENT, NET (Notes 5, 7 and 8) 26,723,783 OTHER ASSETS Contribution Receivable, Less Current Portion (Note 2) 289,159 Other 26,438 Total Other Assets 315,597 TOTAL ASSETS $ 32,046,283 LIABILITIES CURRENT LIABILITIES Current Portion of Long-Term Debt (Note 7) $ 400,075 Current Portion of Capitalized Lease Obligations (Note 8) 430,310 Accounts Payable 483,147 Accrued Expenses 374,358 Deferred Revenue 560,341 Total Current Liabilities 2,248,231 LONG TERM LIABILITIES Long-Term Debt, Less Current Portion (Note 7) 9,539,611 Capital Lease Obligations, Less Current Portion (Note 8) 532,688 Total Long Term Liabilities 10,072,299 Total Liabilities 12,320,530 COMMITMENTS (Notes 11 and 13) NET ASSETS (Note 9) Unrestricted 17,030,036 Temporarily Restricted 2,017,130 Permanently Restricted (Note 10) 678,587 Total Net Assets 19,725,753 TOTAL LIABILITIES AND NET ASSETS $ 32,046,283 See. 2

5 Statement of Activities and Change in Net Assets Year Ended Temporarily Permanently Unrestricted Restricted Restricted Total REVENUES, GAINS AND OTHER SUPPORT Public Support Operating Contributions $ 573,653 $ 147,538 $ - $ 721,191 Capital Campaign Contributions - 899, ,172 Grant Revenues 268, , ,590 Allocations from United Way of the Midlands - 778, ,246 Total Public Support 842,540 2,207,659-3,050,199 Revenues Program Service Fees 4,501, ,501,050 Membership Dues 8,864, ,864,964 Investment Return (Note 10) 424, ,507 Merchandise Sales 15, ,340 Miscellaneous 54, ,200 Gain on Sale of Equipment 5, ,753 Total Revenues 13,865, ,865,814 Net Assets Released From Restrictions (Note 9) 1,482,370 (1,482,370) - - Total Revenues, Gains and Other Support 16,190, ,289-16,916,013 EXPENSES Program Services 14,614, ,614,159 Management and General 1,569, ,569,850 Fund Raising 370, ,028 Payment to National Organization (Note 13) 148, ,848 Total Expenses 16,702, ,702,885 Increase (Decrease) in Net Assets (512,161) 725, ,128 Net Assets, Beginning of Year, As Previously Stated 17,828,123 1,291, ,750 19,788,714 Prior Period Adjustments (Note 14) (285,926) - 9,837 (276,089) Net Assets, Beginning of Year, As Restated 17,542,197 1,291, ,587 19,512,625 Net Assets, End of Year $ 17,030,036 $ 2,017,130 $ 678,587 $ 19,725,753 See. 3

6 Statement of Cash Flows Year Ended 2013 CASH FLOWS FROM OPERATING ACTIVITIES Increase in Net Assets $ 213,128 Adjustments to Reconcile Change in Net Assets to Net Cash Used in Operating Activities Depreciation 1,595,323 Gain on Sale of Equipment (5,753) Realized and Unrealized Gain on Marketable Securities (359,609) Decrease in Other Assets 6,933 Forgiveness of Long-Term Debt (3,134) Contributions Restricted for Capital Additions (1,422,505) Changes in Operating Assets and Liabilites Increase in Contributions Receivable (500,089) Decrease in Other Receivables 59,836 Decrease in Prepaid Expenses 96,775 Increase in Accounts Payable 86,022 Decrease in Accrued Expenses (18,729) Decrease in Deferred Revenue (99,297) Net Cash Used in Operating Activities (351,099) CASH FLOWS FROM INVESTING ACTIVITIES Purchases of Marketable Securities (529,015) Proceeds from Sale of Marketable Securities 702,957 Purchase of Property and Equipment (246,115) Proceeds from Sale of Property and Equipment 9,300 Net Cash Used in Investing Activities (62,873) CASH FLOWS FROM FINANCING ACTIVITIES Net Repayments of Revolving Bank Line of Credit (203,000) Repayments of Long-Term Debt (376,863) Repayments of Capitalized Lease Obligation (377,618) Capital Campaign Contributions 1,422,505 Net Cash Provided by Financing Activities 465,024 Net Increase in Cash and Cash Equivalents 51,052 Cash and Cash Equivalents, Beginning of Year 1,035,196 Cash and Cash Equivalents, End of Year $ 1,086,248 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Interest Paid $ 433,743 NONCASH INVESTING AND FINANCING ACTIVITIES Capitalized Lease Obligations Incurred to Purchase Property and Equipment $ 335,360 See. 4

7 1. Summary of Significant Accounting Policies A summary of the significant accounting policies consistently applied in the preparation of the accompanying financial statements is set forth below. Nature of Activities The YMCA of Greater Omaha (the Association) is a nonprofit organization governed by a Board of Directors. The Association is a human services organization whose mission is to put Christian principles into practice through programs that build healthy spirit, mind and body for all. The following is a description of the key areas of the Association: Youth Development Aims to nurture the potential of every child and teen through programs such as childcare, education and leadership, swim, and camp. Healthy Living Aims to improve the community s health and well-being through programs that focus on family time, well-being and fitness, sports and recreation. Social Responsibility Incorporates giving back and providing support to our neighbors with programs that include social services, volunteerism and advocacy. Financial Statement Presentation The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Net assets and revenues, expenses, gains, and losses are classified based on the existence or absence of donor-imposed restrictions. Accordingly, net assets of the Association and changes therein are classified and reported as follows: Unrestricted Net Assets Net assets that are not subject to grant or donor-imposed stipulations. Temporarily Restricted Net Assets Net assets subject to grant or donor-imposed stipulations that may or will be met, either by actions of the Association and/or the passage of time. When a restriction expires, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statements of activities and changes in net assets as net assets released from restrictions. Permanently Restricted Net Assets Net assets subject to grant or donor-imposed stipulations that they be maintained permanently by the Association, and primarily consist of the historical dollar value of grants and contributions to establish or add to donor-restricted endowment funds. 5

8 Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents For purposes of the statement of cash flows, the Association considers all investments with an original maturity of three months or less to be cash and cash equivalents. Contributions Receivable Contributions receivable consist primarily of pledges and grants. The receivables are carried at original pledge or grant amount, are unsecured and due upon terms of the pledge or grant. The Association considers contributions receivable to be fully collectible; accordingly, no allowance for doubtful accounts is required. If amounts become uncollectible, they will be charged to operations when that determination is made. Other Receivables Other receivables consist primarily of membership dues. The receivables are carried at original invoice amount, are unsecured and due upon receipt of billing. The Association considers other receivables to be fully collectible; accordingly, no allowance for doubtful accounts is required. If amounts become uncollectible, they will be charged to operations when that determination is made. Marketable Securities Investment income or loss (including realized and unrealized gains and losses on investments, interest, and dividends) is included as an increase or decrease to unrestricted net assets unless the income or loss is restricted by donor or law. Marketable securities are carried at fair value (See Notes 3 and 4). Fair value is the price that would be received to sell an investment in an orderly transaction between market participants at the measurement date. Property and Equipment Property and equipment are recorded at cost. Expenditures for additions and betterments are capitalized; expenditures for maintenance and repairs are charged to expense as incurred. The costs of assets disposed and the related accumulated depreciation are eliminated from the accounts in the year of disposal. Gains or losses from property disposals are recognized in the year of disposal. 6

9 Depreciation is computed using the straight-line method over the following estimated useful lives: Years Buildings 5-40 Equipment 5-15 Land Improvements Software 5 Projects in progress are recorded at cost and no depreciation is recorded until the assets are placed in service. Revenue Recognition Public Support and Contributions Public support is considered to be available for unrestricted use unless specifically restricted by the donor. Gifts having donor stipulations which are satisfied in the period the gift is received are reported as unrestricted revenue and net assets. Donated properties and materials are recorded as public support at their estimated fair value at the date of donation. Unconditional promises to give that are expected to be collected within one year are recorded at net realizable value. Unconditional promises to give that are expected to be collected in future years are recorded at fair value determined using the discounted present value of the estimated future cash flows. The resulting discount is amortized using the level-yield method and is reported as contribution revenue. Conditional promises to give are not included as support until the conditions are substantially met. Membership and Program Revenue Recognition Membership dues are recognized as revenue on the straight-line method over the life of the membership period. Revenue from Association programs is recognized over the duration of the offered programs. Deferred Revenue Deferred revenue represents billings and payments to the Association for membership fees and other program fees received for future periods. As amounts are earned they are taken to income on a monthly basis. Functional Expense Allocation The costs of providing the various programs and other activities of the Association have been summarized on a functional basis in the statement of activities and changes in net assets. Accordingly, certain costs have been allocated among the programs and supporting services benefited. All fundraising expenses include an allocation of Association services expense. 7

10 Income Taxes The Association has been recognized as a not-for profit organization, as described in Section 501(c)(3) of the Internal Revenue Code (the Code), and is exempt from Federal income taxes pursuant to Section 501(a)(1) of the Code. The Association follows the provisions of FASB Codification Topic related to uncertain income tax positions. Management believes there are no uncertain income tax positions taken which would require the Association to reflect a liability for unrecognized tax benefits on the accompanying statement of financial position. Subsequent Events Subsequent events are events or transactions that occur after the statement of financial position date but before the financial statements are available to be issued and may require potential recognition or disclosure in the financial statements. Management has considered such events or transactions through September 25, 2014, noting no items requiring dislcosure. 2. Contributions Receivable Contributions receivable at includes the following: 2013 Contributions Receivable Due in: Less than One Year $ 846,757 Two Years to Five Years 314,834 1,161,591 Less Discount to Present Value 25,675 Present Value of Contributions Receivable 1,135,916 Less Current Portion 846,757 Contributions Receivable, Less Current Portion $ 289,159 8

11 3. Marketable Securities Marketable securities at consists of the following: Cost Fair Value 2013 Money Market Funds $ 83,792 $ 83,792 Municipal Bonds 48,248 52,194 Mutual Funds 1,589,999 2,029,578 Common Stocks 598, ,437 Total Marketable Securities $ 2,320,839 $ 2,940, Fair Value Measurements FASB Codification Topic on Fair Value Measurements (FASB ) establishes a framework for measuring fair value and provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: Level 1 Level 2 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets. Inputs to the valuation methodology include: Quoted prices for similar assets or liabilities in active markets; Quoted prices for identical or similar assets or liabilities in inactive markets; Inputs other than quoted prices that are observable for the asset or liability, and Inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The asset s or liability s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. The following is a description of the valuation methodologies used for assets measured at fair value. 9

12 Money Market and Mutual Funds: Valued at the net asset value of the underlying investments. Exchange Traded Funds: Valued at the net asset value of the underlying investments. U.S. Government Agency Obligations, Corporate Bonds and Municipal Bonds: Valued using pricing models and quoted prices of securities with similar characteristics. Common Stocks: Valued at the closing price reported on the active market on which the individual securities are traded. The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Association believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. The following table presents by level, within the fair value hierarchy, the Association s assets and liabilities at fair value as of. Level 1 Level 2 Level 3 Total Money Market Funds $ 83,792 $ - $ - $ 83,792 Municipal Bonds - 52,194-52,194 Mutual Funds: Fixed Income 766, ,907 Large-Cap Equity 987, ,462 Small-Cap Equity 91, ,218 International Equity 183, ,991 Total Mutual Funds 2,029, ,029,578 10

13 Common Stocks: Basic Materials $ 48,183 $ - $ - $ 48,183 Common Stock 32, ,117 Consumer Discretion 59, ,763 Consumer Staples 96, ,068 Energy 99, ,587 Financial 65, ,240 Health Care 96, ,119 Industrials 81, ,129 Information Technology 134, ,183 Materials 27, ,842 Technology 34, ,206 Total Common Stocks 774, ,437 Total at Fair Value $ 2,887,807 $ 52,194 $ - $ 2,940,001 The Following table summarizes level 2 investments measured at fair value as of. Fair Value Unfunded Redemption Redemption Commitments Frequency Notice Period Municipal Bonds $ 52,194 None Daily 1 Day 5. Property and Equipment, Net Property and equipment at consists of the following: Land $ 3,363,232 Buildings 39,968,422 Equipment 3,121,253 Land Improvements 1,238,916 Software 483,405 Projects in Progress 45,286 Total Cost 48,220,514 Less Accumulated Depreciation 21,496,731 Net Book Value $ 26,723,783 11

14 6. Financing Arrangement The Association s financing arrangement consists of a $750,000 unsecured revolving bank line of credit due February 2015 with interest payable monthly at the bank s index rate, not to be lower than 5.00%. 7. Long-Term Debt Long-term debt at consists of the following: Note payable to the Barbara L. Richardson Trust, payable in monthly installments of $888, including interest at 6%, through March 2020, collateralized by certain land and building. Note payable to the City of Council Bluffs, with interest discounted at 5%, collateralized by certain land and buliding. The note is to be forgiven in annual $4,000 increments over an 8-year period if the Association retains title to the related land and building. At any time the related land and building are sold or transferred the remaining balance of the note shall become due. Note payable to a bank, payable in monthly installments of $62,559, including interest at 3.75%, through March 2017, collateralized by the Armbrust, Butler-Gast, Southwest, Maple and Sarpy buildings, as well as certain investment securities that are permanently restricted in nature. Interest free note payable to a bank, payable in monthly installments of $601, through March $ ,433 14,184 9,861,619 8,450 Total Long-Term Debt 9,939,686 Less Current Portion 400,075 Long-Term Debt, Less Current Portion $ 9,539,611 12

15 The aggregate maturities of long-term debt for the years ending after are as follows: Year Ending December 31, 2014 $ 400, , , ,683, ,528 Thereafter $ 13,016 9,939, Capitalized Lease Obligations The Association has entered into various capitalized equipment leases, payable in monthly installments totaling $38,771, including imputed interest at rates ranging from 2.90% to 5.00%, maturing on various dates through October 2017, collateralized by the equipment being leased. The cost of capitalized leased equipment was $1,525,972 at, which is being depreciated over their useful lives. Accumulated depreciation on this equipment was $481,163 at. Depreciation expense was $261,008 for the year ended. These leases contain purchase options, which have generally been set at prices approximating the expected fair value for the equipment at the expiration of the lease term. Future minimum lease payments for the years ending after are as follows: Year Ending December 31, 2014 $ 464, , , ,170 1,012,547 Less Amounts Representing Interest 49,549 Present Value of Future Minimum Lease Payment 962,998 Less Current Portion 430,310 Capitalized Lease Obligations, Less Current Portion $ 532,688 13

16 9. Restrictions and Limitations on Net Asset Balances Temporarily restricted net assets at consist of the following: 2013 Capital Campaign $ 1,292,971 Sustaining Campaign 115,553 Diabetes Grant 54,155 Other - Operation Contributions 9,550 United Way Allocation Youth Development 295,709 Healthy Living 92,605 Social Responsibility 51,840 Other - Grants $ 104,747 2,017,130 Net assets released from donor restrictions by incurring expenses satisfying the restricted purposes or by occurrence of other events specified by the donors during the year ended consists of the following: 2013 Operating Sustaining Campaign $ 125,263 United Way Allocation 641,660 Other 534,928 Total Operating 1,301,851 Capital Campaign $ 180,519 1,482,370 Permanently restricted net assets (see Note 10) at, the income from which is expendable for program services, consist of the following: 2013 Peter Kiewit Trust $ 500,000 Marshall Trust 103,587 Henry Ogram Trust $ 75, ,587 14

17 10. Endowment Funds The Association s endowment consists of certain funds established for various donor-restricted purposes. Net assets associated with endowment funds are classified and reported based on the existence or absence of donor-imposed restrictions. The Association follows the provisions of the State of Nebraska Prudent Management of Institutional Funds Act (SPMIFA). SPMIFA requires the preservation of the fair value of the original gift date of the donorrestricted endowment funds absent explicit donor stipulations to the contrary. As a result, the Association classifies as permanently restricted net assets (a) the original value of the gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instruments at the time the accumulation is added to the fund. In accordance with SPMIFA, the Association considers the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds: 1. The duration and preservation of the fund 2. The purpose of the Association and the donor-restricted endowment fund 3. General economic conditions 4. The possible effect of inflation and deflation 5. The expected total return from income and appreciation of investments 6. Other resources of the Association 7. The investment policies of the Association As there are no donor-restrictions on interest and dividends from the Marguerite Marshall Trust or the Peter Kiewit Endowment, income earned on these endowments is available annually to be spent on operations and is reflected in unrestricted net asset activity. Donor restrictions on the Henry C. Ogram Trust require that all earnings be spent on Needy Children at the YMCA Camp. Income from this endowment is available annually to be spent on day camp scholarships and is reflected in temporarily restricted net assets until all scholarships have been awarded. As of, all scholarships had been awarded according to the decedent s wishes and no earnings were held in temporarily restricted net assets. The Association has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs and other items supported by its endowment while seeking to maintain the purchasing power of the endowment. Endowment assets included those assets of donorrestricted endowment funds the Association must hold in perpetuity or for donor-specified periods. Under the Association s policies, endowment assets are invested in a manner that is intended to preserve inflation adjusted values and provide annual budgetary support that is both stable and growing. To satisfy its long-term rate of return objective, the Association relies on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and a current yield (interest and dividends). The Association targets a diversified asset allocation, including, but not limited to, equity and fixed income instruments. All permanently restricted funds are required to be retained permanently by explicit donor stipulation or SPMIFA and the composition of these net assets are set forth in Note 9. 15

18 From time to time, the fair value of assets associated with individual donor-restricted endowment funds may fall below the level that the donor or SPMIFA requires the Association to retain as a fund of perpetual duration. Deficiencies of this nature, if any, would be reported in unrestricted net assets. These deficiencies could result from unfavorable market fluctuations that occurred after the investment of new permanently restricted contributions and continued appropriation for certain programs that was deemed prudent by the Association. Subsequent gains that would restore the fair value of the assets of the endowment fund to the required level will be classified as an increase in unrestricted net assets. Changes in endowment net assets for the year ended are as follows: Permanently Unrestricted Restricted Total Endowment, Beginning of Year, As Restated $ 2,075,746 $ 678,587 $ 2,754,333 Contributions 10,090-10,090 Investment Return Investment Income, Net 64,898-64,898 Realized and Unrealized Gains and Losses on Investments, Net 359, ,609 Total Investment Return 424, ,507 Appropriation of Endowment Assets for Expenditure (248,929) - (248,929) Endowment, End of Year $ 2,261,414 $ 678,587 $ 2,940, Commitments Lease Obligations The Association has entered into various operating leases for parking lot space and office equipment used by the Association. The future minimum lease payments under these noncancelable operating leases as of are as follows: Year Ending December 31, 2014 $ 24, , , $ 6,366 70,292 Lease expense under these operating leases was approximately $28,423 for the year ended December 31,

19 Legal Proceedings The Association is party to legal proceedings arising in the ordinary course of its business. In the opinion of management and its legal counsel, disposition of these matters will not materially affect the Association s financial position or results of operations. 12. Benefit Plan The Association participates in the Young Men s Christian Association Retirement Fund, a defined contribution retirement plan available to all duly organized or reorganized YMCA s in the United States of America. The plan covers substantially all employees upon completion of two years of service and attainment of 21 years of age. The Association makes contributions to the plan of 8% of a participant s annual wages. The Association s benefit plan costs were approximately $249,000 for the year ended. 13. Sharing of Public Support In accordance with the affiliation agreement with the Association s national organization, a percentage of total unrestricted public support and revenue (as adjusted for certain direct costs of producing revenue) shall be shared with the national organization as determined by the Association s Board of Directors. In accordance with the agreement, 1.0% of such support and revenue was subject to these provisions for Such amounts are used as directed by the national organization s Board of Directors for national programs of research, education and community services, and for management and general and fund-raising expenses. 14. Prior Period Adjustments The Association determined that it had overstated assets from a prior period due to land relating to Camp Pokemoke and various community developments that were sold in previous years and not properly removed from the accounts and records. The total amount of land which should have been removed from the statement of financial position was $276,089. Property and equipment in Note 5, the statement of activities and changes in net assets included in these financial statements all reflect the correction of this error. On June 10, 1993, an additional $9,837 was received by the YMCA from the Marguerite E. Marshall Trust as final distribution of her estate which brought the total endowment gift to $103,587. The Association determined this final distribution should have been classified as a corpus restricted gift on date of receipt and has reclassified this as a restricted asset in

20 SUPPLEMENTAL INFORMATION

21 INDEPENDENT AUDITORS' REPORT ON SUPPLEMENTAL INFORMATION Board of Directors YMCA of Greater Omaha Omaha, Nebraska We have audited the financial statements of YMCA of Greater Omaha as of and for the year ended, and have issued our report thereon, dated September 25, 2014, which contained an unmodified opinion on those financial statements. Our audit was performed for the purpose of forming an opinion on the financial statements as a whole. The accompanying supplementary information is presented for purposes of additional analysis and is not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole. September 25,

22 Schedule of Functional Expenses Year Ended Program Services Supporting Services Total Management Total Youth Healthy Social Program and Fund Supporting Grand Development Living Responsibility Services General Raising Services Total Salaries $ 2,415,413 $ 3,942,153 $ 192,012 $ 6,549,578 $ 845,908 $ 143,638 $ 989,546 $ 7,539,124 Employee Health and Retirement Benefits 164, ,161 12, , ,528 16, , ,065 Payroll Taxes 241, ,059 16, ,112 72,128 15,775 87, ,015 Total Salaries and Related Expenses 2,821,490 4,551, ,756 7,593,619 1,021, ,021 1,197,585 8,791,204 Professional Fees and Contract Services 297, ,684 5, , , , , ,959 Supplies 512, ,702 20, ,338 38,118 1,746 39, ,202 Telephone and Internet 51,513 67,282 4, ,318 40, , ,853 Postage and Shipping 13,446 39, ,410 12, ,257 66,667 Occupancy Expenses 890,741 1,316,112 55,347 2,262, , ,000 2,382,200 Purchases, Maintenance and Rental of Equipment 80, ,050 14, ,925 62,910 1,034 63, ,869 Marketing 141, , , ,209 19, ,319 Travel and Transportation 69,149 36,281 3, ,234 27,655 5,008 32, ,897 Meetings and Conferences 13,624 43,244 1,600 58,468 36,308 4,718 41,026 99,494 Insurance 40,916 63,247 2, ,093 24,603-24, ,696 Miscellaneous 151, ,446 7, ,910 55,714 20,987 76, ,611 Total Other Expenses 2,263,403 2,636, ,308 5,017, , , ,199 5,733,767 Total Expenses Before Depreciation and Interest Expense 5,084,893 7,188, ,064 12,611,187 1,543, ,028 1,913,784 14,524,971 Depreciation 653, ,118 39,740 1,569,945 25,378-25,378 1,595,323 Interest 180, ,940 10, , ,743 Total Functional Expenses $ 5,918,105 $ 8,307,288 $ 388,766 $ 14,614,159 $ 1,569,850 $ 370,028 $ 1,939,878 $ 16,554,037 See Independent Auditors Report on Supplemental Information. 19

23