Charities Review Council Financial Session. Barbara Clare MAP for Nonprofits Chief Financial Officer
|
|
- Amy Casey
- 8 years ago
- Views:
Transcription
1 Charities Review Council Financial Session Barbara Clare MAP for Nonprofits Chief Financial Officer
2 Session Objectives Review and understanding of basic financial statement definitions and presentation Understanding of financial statement analysis using ratio tools Knowledge of best practices in financial management Introduction to business planning design using Mission Money Matrix tool
3 Financial Statements Defined
4 Balance Sheet The financial statement that presents the financial position at a certain moment in time. It lists assets, liabilities and net assets. It is also frequently called Statement of Financial Position. This statement shows the overall financial health of an organization. It is used to show assets available to pay for any debt that might be outstanding. It is the primary indicator as to whether an organization can meet its financial obligations.
5 Assets What is owned -A measurement of financial value. 1. Assets are listed in order of liquidity how quickly you can turn them into cash. 2. Checking checking accounts, petty cash 3. Savings or Money market funds temporary investments such as certificates of deposit, U.S. Treasury bills 4. Accounts receivable money owed to the organization for program services 5. Pledges receivable money promised by funders 6. Prepaid Expenses expenses paid for in a prior period that will be carried forward and expensed in the year that the expense actually takes place 7. Long term assets considered to be noncurrent. These might include stocks, bonds, or real estate 8. Fixed assets land, buildings, and equipment and their applicable depreciation
6 Liabilities What is owed - A claim on the assets by an outsider representing a financial obligation. 1. Liabilities include accounts payable, accrued expenses and loans. 2. Liabilities, like assets, are listed in the order of how soon they need to be paid. 3. Accounts payable invoices for purchases of goods or services that have been submitted to the organization but are not yet paid. 4. Loan payable line of credit, mortgage, capital lease 5. Grants payable to others if an organization grants money, when they approve the grant they would post the grant payable in their liabilities
7 Fund Balance (Net Assets) The difference between total assets (what is owned) and total liabilities (what is owed). Temporarily Restricted - A donor-imposed restriction that permits the donee organization to use up or expand the donated asset as specified and is satisfied either by the passage of time or by actions of the organization Permanently Restricted - A donor-imposed restriction that stipulates that resources be maintained permanently but permits the organization to use up or expend part of all of the income (or other economic benefits) derived from the donated assets. Unrestricted Net Assets - The part of net assets of a not-for-profit organization that is neither permanently restricted nor temporally restricted by donor-imposed stipulations. Board Designated A board imposed designation of funds that requires that unrestricted funds be set aside for a particular purpose. These funds are legally considered part of the unrestricted net assets.
8 Current Ratio Current Ratio=Current Assets Divide by Current Liabilities Organization has $36,000 in current assets and $28,000 in current liabilities Using the Current Ratio we get: $1.29 Anything above $1.00 is ok
9 Days Cash on Hand Days Cash on Hand=Cash Divided by Expenses Divided by 365 Organization has annual operating budget of $636,000 and expenses of $636000/365 or $1,742 per day and a cash balance of $80,000 Dividing cash balance by expenses 46 Days Cash on Hand The more days, the healthier the organization
10 Debt Ratio Debt Ratio=Total Liabilities divided by Unrestricted Net Assets Organization has total debt of $1,000,000 and unrestricted net assets of $1,200,000 Using the Debt Ratio 83.3% Less than 100% is optional
11 Income Statement
12 Income Statement (also called Statement of Activities) The financial statement that shows all of your financial activities from the beginning to the end of the fiscal year. This statement shows where your income came from, where it was spent and how much you had left (surplus) or were short (deficit) at the end of the year.
13 Income Typically, primary revenue sources (income) are classified as: Foundation/Corporation grants coming in from private foundations or corporate donations Government can be reimbursement for fee for service or direct grants Indirect Public Support funds from a third party that enacts a campaign to raise money for charity (ex. United Way) Individual Contributions funds received directly from a donor Earned Income fee for service, admission to programs Investment Earnings use of interest earned to fuel operations
14 Permanently restricted income Is assigned a purpose and/or time restriction forever. Donors want their contribution to be an investment in the organization and the investment returns are intended to assist financially with a source of unrestricted income. Temporarily restricted income Comes with donor imposed restrictions. These restrictions are generally filled in in two ways passage of time or expenditures for defined activities. Unique accounting standards apply to all funds received as restricted and each dollar spent must be accounted for to the donor based on the restrictions they placed with the gift. Unrestricted income Is for the general use of the nonprofit organization. These general operating funds are distributed to where the funds are needed by the accounting team of the organization.
15 Lobbying Admin Total Organization Program 1: Objectives and Cost Program Program 2: Objectives and Cost Fundraising Program 3: Objectives and Cost
16 Processing/Reporting Program Income Remember that revenue is recognized when it is earned and not when it come in the door. Your monthly statement will include fees for services you provided (revenues) in that month and not what was received in cash. This is called accrual accounting. Checklist: Do the revenues for fee for service reflect the increase/decrease in demand that the program experienced during the month? Foundations usually disburse funds at the same time each year. If you have a recurring grant support, do you see the contribution in the month you had expected it to happen? Note any funds that have been received for restricted purpose. Alert staff to the receipt and plan to execute the expenditures to meet the expectations of the donor. If you have an expectation of a special receipt you should ensure that is comes through on your statement and you should contact the accounting department if you don t see it.
17 Expenses Are defined as the amounts spent by an agency in providing the services for which it has been organized and exists. Expenses are divided into three basic categories: Program Service Expense: generally include goods and services distributed to beneficiaries, customers, or members to fulfill the purpose a mission of the organization. Management and General Expense: activities include general oversight, business management, general record keeping, budgeting, finance and other management and administrative activities. Fund Raising Expense: activities that include publicizing and conducting fund-raising campaigns, maintaining donor mailing lists, conducting special fund-raising events, preparing and distributing activities involved in the solicitation of contributions from individuals, foundations, government agencies, etc.
18 Budgeting Basics
19 Reasons why a budget is necessary: Helps an organization focus on short and long term strategic planning goals connected to availability of financial resources Assists the board in the oversight of operational management Sets spending limits based on revenue expectations Allows potential funders to see a transparent estimates of how much it costs to provide outcomes listed in proposals Holds all staff members accountable to financial parameters surrounding program service delivery
20 Budgeting Considerations: An effective well thought out budget should be conservative. Consideration should be given not only to the internal environment of the organization but also to the external political, social and economic climates. Looking at past years performance is a great way to start the process. This information along with documented facts and assumptions for the coming year are the foundation. In times of uncertainty, what if scenarios should be thought through and contingency plans should be documented. This enables organizations to continue to provide critical services to their constituents in difficult times. Programmatic goals should always accompany the financial information put forward in a programmatic budget. The costs should be tied directly to the programmatic activities necessary to provide the service. Financial goals are directly tied to programmatic goals and should be considered as such to fulfill the mission and service objectives of the organization.
21 Financial Management
22 Best Practices for Financial Management Engage program staff in the budgeting process Don t spend more than is budgeted Identify cost savings opportunities Know your true program costs and how to report them Monitor restricted funds carefully Understand restricted funds and their impact on cash flow Implement a way to manage restricted funds Educate all staff as to financial goals When combined with an assessment of a program s revenue and degree of mission-alignment, understanding the true costs of a program will also allow you to see how each program contributes to your organization s social mission an overall financial health.
23
24
25
26
27 Planning Key Areas of Financial Management With budgeting and financial analysis, you can use your resources strategically to help achieve your organization s goals Operations A strong infrastructure for planning and monitoring means employees who know how to analyze Monitoring Regularly Review financial results to ensure you re using resources according to plan, and advancing organizational objectives Governance Your board of directors should provide the oversight and guidance to ensure the organization fulfills it s obligations and mission
28 Indicators of Process Quality Project managers play an active role in developing their project budget. Budgets are monitored on different levels of the organization. Deviations are analyzed and discussed regularly. Cash flows are planned, monitored and regularly revised. Payments of individual donors, grant-makers and customers are monitored and delays followed up on. Written policies and procedures exist. They guide all activities involving financial resources. A long-term fundraising plan exists. It is specific about tasks and responsibilities. The organization monitors regularly its micro-environment for new funding opportunities, and in order to identify opportunities to generate income.
29 Income Related Indicators Donor retention rate Customer retention rate Share of multi-year donors in donor pool Increase of income during the last years. Number of new donors, grant-makers and customers Increase of income from non-traditional sources during the last years Contribution of three largest donors and grant-makers to total income
30 Planning for Reserves
31 3 Most Common Types of Reserves 1.Equipment Technology 2.Building 3.Operational
32 Equipment Technology Reserves Use Technology Plan to budget for upcoming improvement needs forecast technology needs proactively Set aside replacement value funds for critical infrastructure reactive in the event of a crisis Assess depreciation schedule life of assets
33 Building Review strategic plan and identify program anticipated growth, changes and eliminations Use Facility Plan to budget for identified structural improvements and upkeep Assess depreciation schedule life of assets
34 Operational No right or wrong answer Requires assessment of revenue streams/vulnerability of sources Line of Credit vs. Reserve Band-Aid vs. Surgery
35 Revenue Analysis Revenue Streams Budget 2015 % of Total Vulnerability $ Exposure Government Contracts 3,500,000 50% -3% 105,000 Participant Fees 1,800,000 26% -7% 126,000 Foundations 1,200,000 17% (200,000) 200,000 Greater Twin Cities United Way 350,000 5% (350,000) 350,000 Individuals 126,000 2% 0% 0 Total Revenues Budgeted 6,976, ,000 Annual Expenses 6,976,000 Monthly Expense 581,333
36 Summary Thank you for participating in today s training. My hope is that you are leaving with the following: 1. Thorough understanding of financial statement creation and interpretation 2. Tools that will enable you to analyze your business in an interactive way 3. Information that will help you to improve and benchmark your current financial processes 4. New ideas to support and sustain your organization s financial health
37
Orange County s United Way
Financial Statements Years Ended June 30, 2015 and 2014 The report accompanying these financial statements was issued by BDO USA, LLP, a Delaware limited liability partnership and the U.S. member of BDO
More informationNONPROFITS ASSISTANCE FUND FINANCIAL STATEMENTS YEARS ENDED MARCH 31, 2015 AND 2014
FINANCIAL STATEMENTS YEARS ENDED TABLE OF CONTENTS YEARS ENDED INDEPENDENT AUDITORS' REPORT 1 FINANCIAL STATEMENTS STATEMENTS OF FINANCIAL POSITION 3 STATEMENTS OF ACTIVITIES 5 STATEMENTS OF CASH FLOWS
More informationSOUTH ORANGE PERFORMING ARTS CENTER, INC. Financial Statements June 30, 2014 and 2013
SOUTH ORANGE PERFORMING ARTS CENTER, INC. Financial Statements The report accompanying these financial Statements was issued by Spire Group, PC a New Jersey Professional Corporation. Table of Contents
More informationMAKE-A-WISH FOUNDATION OF MASSACHUSETTS AND RHODE ISLAND, INC. Financial Statements. August 31, 2014. (With Independent Auditors Report Thereon)
MAKE-A-WISH FOUNDATION OF MASSACHUSETTS Financial Statements (With Independent Auditors Report Thereon) Table of Contents Page Independent Auditors Report 1 Statement of Financial Position 3 Statement
More informationManaging Restricted Funds
Managing Restricted Funds A resource article by Nonprofits Assistance Fund Unique accounting standards require that nonprofit organizations report contributed income in one of three categories unrestricted,
More informationWIKI EDUCATION FOUNDATION
WIKI EDUCATION FOUNDATION JUNE 30, 2015 INDEPENDENT AUDITORS REPORT AND FINANCIAL STATEMENTS Independent Auditors Report and Financial Statements Independent Auditors Report 1-2 Financial Statements Statement
More informationJAMES A. MICHENER ART MUSEUM
FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2010 CONTENTS INDEPENDENT AUDITOR'S REPORT 1 FINANCIAL STATEMENTS Statement of Financial Position 2 Statement of Activities 3 Statement of Functional Expenses
More informationCase Western Reserve University Consolidated Financial Statements for the Year Ending June 30, 2001
Contents Report of Independent Accountants 1 Part 1 Consolidated Financial Statements Consolidated Balance Sheet 2 Consolidated Statement of Activities 3 Consolidated Statement of Cash Flows 4 Part 2 Summary
More informationFinancial Statements. August 31, 2013 and 2012. (With Independent Auditors Report Thereon)
Financial Statements (With Independent Auditors Report Thereon) Table of Contents Page Independent Auditors Report 1 Statements of Financial Position 2 Statement of Activities Year ended August 31, 2013
More informationSAMPLE AUDITOR S OPINION LETTER
SAMPLE AUDITOR S OPINION LETTER INDEPENDENT AUDITORS REPORT To the Board of Directors XYZ Organization Washington, D.C. We have audited the accompanying statement of financial position of XYZ Organization
More informationST. MARY SEMINARY AND GRADUATE SCHOOL OF THEOLOGY (OUR LADY OF THE LAKE) FINANCIAL REPORT. JUNE 30, 2015 and 2014
ST. MARY SEMINARY AND GRADUATE SCHOOL OF THEOLOGY FINANCIAL REPORT JUNE 30, 2015 and 2014 CONTENTS Page INDEPENDENT AUDITORS' REPORT ON THE FINANCIAL STATEMENTS 1 FINANCIAL STATEMENTS Statements of financial
More informationMICROFINANCE OPPORTUNITIES, INC.
WWW.MCB-CPA.COM TABLE OF CONTENTS DECEMBER 31, 2012 AND 2011 Independent Auditors Report 1-2 Financial Statements: Statements of Financial Position 3 Statements of Activities and Changes in Net Assets
More informationBoston College Financial Statements May 31, 2007 and 2006
Financial Statements Index Page(s) Report of Independent Auditors... 1 Financial Statements Statement of Financial Position... 2 Statement of Activities... 3 Statement of Cash Flows... 4...5-15 PricewaterhouseCoopers
More informationSample Financial Statements from PPC Preparing Nonprofit Financial Statements
(ACCOUNTANT S LETTERHEAD) INDEPENDENT ACCOUNTANT S REPORT (REVIEW) To the Board of Directors Habitat House, Inc. City, State We have reviewed the accompanying statements of financial position of Habitat
More informationBalance Sheets: What Do They Really Tell You?
ANNUAL MEETING HANDOUT Balance Sheets: What Do They Really Tell You? This working session showed attendees what to look for on the balance sheet, how to do calculations to gauge a museum s health and ways
More informationMinnesota Council of Nonprofits, Inc. Consolidated Financial Statements Years Ended December 31, 2013 and 2012 (With Independent Auditor's Report
Consolidated Financial Statements Years Ended December 31, 2013 and 2012 (With Independent Auditor's Report Thereon) MINNESOTA COUNCIL OF NONPROFITS INDEPENDENT AUDITOR S REPORT... 3 FINANCIAL STATEMENTS
More informationSOS CHILDREN S VILLAGES USA, INC.
FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS DECEMBER 31, 2014 AND 2013 TABLE OF CONTENTS REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS 1-2 Page FINANCIAL STATEMENTS
More informationTHE ASPEN EDUCATION FOUNDATION FINANCIAL STATEMENTS. June 30, 2013
FINANCIAL STATEMENTS June 30, 2013 FINANCIAL STATEMENTS June 30, 2013 TABLE OF CONTENTS ITEM PAGE NUMBER Independent Auditor s Report 1 Statement of Financial Position 2 Statement of Activities 3 Statement
More informationThe Colleges of the Seneca Financial Statements May 31, 2007 and 2006
Financial Statements PricewaterhouseCoopers LLP 1100 Bausch & Lomb Place Rochester NY 14604-2705 Telephone (585) 232 4000 Facsimile (585) 454 6594 Report of Independent Auditors To the Board of Trustees
More informationUSING QUICKBOOKS TO RECORD RESTRICTED TRANSACTIONS
USING QUICKBOOKS TO RECORD RESTRICTED TRANSACTIONS Recording Pledges Pledges are unconditional promises that a donor gives to your organization, which could include a promise for money over a period of
More informationOPEN OPTIONS, INC. d/b/a UNITED CEREBRAL PALSY OF GREATER KANSAS CITY FINANCIAL STATEMENTS. Years Ended June 30, 2014 and 2013
FINANCIAL STATEMENTS Years Ended June 30, 2014 and 2013 STATEMENTS OF FINANCIAL POSITION June 30, 2014 and 2013 A S S E T S 2014 2013 CURRENT ASSETS Cash and cash equivalents $ 761,322 $ 648,987 Investments
More informationSAMPLE NPO Fiscal Policies & Procedures
SAMPLE NPO NOTE: The most important part of developing policies and procedures is that they are discussed and agreed upon within the organization. This template is designed to be used in conjunction with
More informationCool Spring Analytics
Understanding Financial Statements 1 by Patricia Egan and Nancy Sasser Welcome to the world of numbers, arguably the least understood aspect of service as a trustee. In this article we will describe the
More informationFRIENDS OF KEXP dba KEXP-FM
FRIENDS OF KEXP dba KEXP-FM FINANCIAL STATEMENTS WITH INDEPENDENT AUDITORS REPORT INDEPENDENT AUDITORS REPORT To the Board of Directors Friends of KEXP Seattle, Washington We have audited the accompanying
More informationSOS CHILDREN S VILLAGES USA, INC.
FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS DECEMBER 31, 2015 AND 2014 TABLE OF CONTENTS REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS 1-2 Page FINANCIAL STATEMENTS
More informationMY OWN BOOK FUND, INC. (A NONPROFIT ORGANIZATION) FINANCIAL STATEMENTS JUNE 30, 2014 AND 2013
MY OWN BOOK FUND, INC. (A NONPROFIT ORGANIZATION) FINANCIAL STATEMENTS MY OWN BOOK FUND, INC. TABLE OF CONTENTS (A NONPROFIT ORGANIZATION) PAGE INDEPENDENT AUDITOR'S REPORT 1-2 FINANCIAL STATEMENTS: STATEMENTS
More informationUNIVERSITY OF DENVER (COLORADO SEMINARY) Financial Statements and OMB A-133 Single Audit Reports. June 30, 2015 and 2014
Financial Statements and OMB A-133 Single Audit Reports June 30, 2015 and 2014 (With Independent Auditors Report Thereon) Table of Contents Independent Auditors Report 1 Financial Statements Statement
More informationStatement of Activities and Changes in Net Assets
EASTER SEALS CONSOLIDATED Statement of Activities and Changes in Net Assets For 2011 Fiscal Year End Temporarily Permanently Unrestricted Restricted Restricted 2011 Total Public Support Contributions $
More informationGRACE CHURCH CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED MAY 31, 2012 AND 2011
CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED MAY 31, 2012 AND 2011 TABLE OF CONTENTS YEARS ENDED MAY 31, 2012 AND 2011 INDEPENDENT AUDITORS REPORT 1 CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS
More informationCARINGBRIDGE Eagan, Minnesota
Eagan, Minnesota FINANCIAL STATEMENTS Including Independent Auditors' Report As of and For the Years Ended December 31,2014 and 2013 TABLE OF CONTENTS Independent Auditors' Report Statements of Financial
More informationTransitional Living Centers of Oklahoma, Inc. Financial Statements and Independent Auditor s Report. December 31, 2014 and 2013
Financial Statements and Independent Auditor s Report December 31, 2014 and 2013 Table of Contents PAGE Independent Auditor s Report... 3 Financial Statements Statements of Financial Position... 4 Statements
More informationST. MARTIN'S EPISCOPAL CHURCH
ST. MARTIN'S EPISCOPAL CHURCH FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT FOR THE YEARS ENDED DECEMBER 31,2010 (AUDITED) AND DECEMB:ER 31, 2009 (REVIEWED) CONTENTS Page INDEPENDENT AUDITORS'
More informationSource data is a custom data export provided by the IRS Exempt Organizations Projects Department.
About the Data The reports in this presentation contain aggregate financial information from the Form 990 (or the long form 990) that organizations reported to the Internal Revenue Service (IRS) for their
More informationMULTNOMAH BIBLE COLLEGE AND SEMINARY INDEPENDENT AUDITOR S REPORT AND FINANCIAL STATEMENTS
MULTNOMAH BIBLE COLLEGE AND SEMINARY INDEPENDENT AUDITOR S REPORT AND FINANCIAL STATEMENTS JUNE 30, 2007 AND 2006 CONTENTS PAGE INDEPENDENT AUDITOR S REPORT 1 FINANCIAL STATEMENTS Statements of financial
More informationCORO SOUTHERN CALIFORNIA, INC. (A NONPROFIT ORGANIZATION) FINANCIAL STATEMENTS JUNE 30, 2015
FINANCIAL STATEMENTS CONTENTS Page INDEPENDENT AUDITOR'S REPORT 1-2 STATEMENT OF FINANCIAL POSITION 3 STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS 4 STATEMENT OF FUNCTIONAL EXPENSES 5 STATEMENT OF
More informationAccounting for Colleges & Universities. Chapter 17
Accounting for Colleges & Universities Chapter 17 Learning Objectives Understand why most government C&Us choose to report as business-type only special purpose governments Explain unique aspects of C&U
More informationDepartment of Health & Human Services Recommended Chart-of-Accounts Smart Start - Local Partnerships
Department of Health & Human Services Recommended Chart-of-Accounts Smart Start - Local Partnerships Account Classes Funds Control Accounts 1XXXXXXX Unrestricted 2XXXXXXX Temporarily Restricted 3XXXXXXX
More informationVERMONT LONG TERM DISASTER RECOVERY GROUP, INC. (DOING BUSINESS AS VERMONT DISASTER RELIEF FUND )
VERMONT LONG TERM DISASTER RECOVERY GROUP, INC. (DOING BUSINESS AS VERMONT DISASTER RELIEF FUND ) FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT TABLE OF CONTENTS Independent Auditor s Report...
More informationThe Children's Museum of Memphis, Inc. Financial Statements June 30, 2015 and 2014
The Children's Museum of Memphis, Inc. Financial Statements June 30, 2015 and 2014 Table of Contents June 30, 2015 and 2014 Page Independent Auditor s Report... 3 Financial Statements Statements of Financial
More informationTHE UNIVERSITY OF SOUTHERN MISSISSIPPI FOUNDATION. Consolidated Financial Statements. June 30, 2011 and 2010
Consolidated Financial Statements (With Independent Auditors Report Thereon) KPMG LLP Suite 1100 One Jackson Place 188 East Capitol Street Jackson, MS 39201-2127 Independent Auditors' Report The Board
More informationFinancial Statements Together with Report of Independent Certified Public Accountants FJC. March 31, 2015 and 2014
Financial Statements Together with Report of Independent Certified Public Accountants FJC TABLE OF CONTENTS Page Report of Independent Certified Public Accountants 1-2 Financial Statements Statements of
More informationTEXAS TRIBUNE, INC. Financial Statements as of and for the Years Ended December 31, 2013 and 2012 and Independent Auditors Report
TEXAS TRIBUNE, INC. Financial Statements as of and for the Years Ended December 31, 2013 and 2012 and Independent Auditors Report TEXAS TRIBUNE, INC. TABLE OF CONTENTS INDEPENDENT AUDITORS REPORT 1 Page
More informationWASHINGTON ANIMAL RESCUE LEAGUE
WWW.MCB-CPA.COM FINANCIAL STATEMENTS TABLE OF CONTENTS Page Independent Auditors Report 1 Financial Statements: Statements of Financial Position 2 Statements of Activities and Changes in Net Assets 3-4
More informationFinancial Statements and Supplemental Information. Home Repair Services of Kent County, Inc. (A Non-Profit Organization)
Financial Statements and Supplemental Information Home Repair Services of Kent County, Inc. Years Ended June 30, 2011 and 2010 with Report of Independent Auditors Financial Statements and Supplemental
More informationArlington Street People's Assistance Network. Financial Statements, Including OMB Circular A-133 Reports and Independent Auditors Report
Financial Statements, Including OMB Circular A-133 Reports and Independent Auditors Report June 30, 2013 and 2012 Financial Statements June 30, 2013 and 2012 Contents Independent Auditors Report... 1-2
More informationPartners for the Common Good Financial Statements December 31, 2014 and 2013
Partners for the Common Good Financial Statements December 31, 2014 and 2013 TABLE OF CONTENTS Page Independent Auditors' Report 1-2 Financial Statements: Statements of Financial Position 3 Statements
More informationUrology Care Foundation, Inc. Financial Report December 31, 2012
Urology Care Foundation, Inc. Financial Report December 31, 2012 Contents Independent Auditor s Report On The Financial Statements 1 2 Financial Statements Statements Of Financial Position 3 Statements
More informationChristian Reformed Church Loan Fund, Inc. U.S.
Christian Reformed Church Loan Fund, Inc. U.S. Financial Statements Years Ended June 30, 2011, 2010 and 2009 The report accompanying these financial statements was issued by BDO USA, LLP, a Delaware limited
More informationXIV. Accounting for Gifts, Endowment Earnings and Other Projects
XIV. Accounting for Gifts, Endowment Earnings and Other Projects A. Overview: RIT receives gifts and other income to support the operations of the University. Gifts that are restricted for use by the donor
More informationUnited Cerebral Palsy, Inc. Financial Report September 30, 2013
Financial Report September 30, 2013 Contents Independent Auditor s Report 1 2 Financial Statements Statement Of Financial Position 3 Statement Of Activities 4 Statement Of Functional Expenses 5 Statement
More informationGalapagos Conservancy. Financial Report March 31, 2013
Financial Report March 31, 2013 Contents Independent Auditor s Report 1 Financial Statements Balance Sheet 2 Statement Of Activities 3 Statement Of Functional Expenses 4 Statement Of Cash Flows 5 Notes
More informationSeriousFun Children's Network, Inc. and Subsidiaries
SeriousFun Children's Network, Inc. and Subsidiaries Consolidated Financial Statements and Independent Auditor's Report (With Supplementary Information) December 31, 2015 and 2014 Index Page Independent
More informationLUTHERAN FOUNDATION OF THE SOUTHWEST. Financial Statements as of and for the Years Ended December 31, 2014 and 2013 and Independent Auditors Report
LUTHERAN FOUNDATION OF THE SOUTHWEST Financial Statements as of and for the Years Ended December 31, 2014 and 2013 and Independent Auditors Report MAXWELL LOCKE & RITTER L L P Accountants and Consultants
More informationWOUNDED WARRIOR PROJECT, INC. (A NOT-FOR-PROFIT ORGANIZATION)
(A NOT-FOR-PROFIT ORGANIZATION) FINANCIAL REPORT TABLE OF CONTENTS Report of independent certified public accountants 1 Financial statements: Statement of financial position 2 Statement of activities 3
More informationigem Foundation, Inc. Financial Statements Years Ended December 31, 2014 and 2013
Financial Statements Years Ended December 31, 2014 and 2013 Table of Contents Independent Auditors Report 1-2 Financial Statements: Statements of Financial Position 3 Statements of Activities 4 Statements
More informationAMERICA CAN! CARS FOR KIDS
ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED AUGUST 31, 2014 C O N T E N T S Page INDEPENDENT AUDITOR S REPORT... 1 FINANCIAL STATEMENTS Statement of Financial Position... 3 Statement of Activities... 4
More informationCincinnati Public Radio, Inc. and Subsidiary
Cincinnati Public Radio, Inc. and Subsidiary Consolidated Financial Statements with Accompanying Information June 30, 2013, with Summarized Comparative Totals for June 30, 2012, and Independent Auditors
More informationFINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT SPECIAL OPERATIONS WARRIOR FOUNDATION. December 31, 2014 and 2013
FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT SPECIAL OPERATIONS WARRIOR FOUNDATION TABLE OF CONTENTS Independent Auditors Report 3-4 Financial Statements Statements of Financial Position 5 Statements
More informationProactive CPA and Consulting Firm
THE TOR PROJECT, INC. AND AFFILIATE CONSOLIDATED FINANCIAL STATEMENTS AND REPORTS REQUIRED FOR AUDITS IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS AND OMB CIRCULAR A-133 DECEMBER 31, 2013 AND 2012
More informationALAMO COLLEGES FOUNDATION, INC. (A Texas nonprofit Foundation) AUDITED FINANCIAL STATEMENTS. Year Ended December 31, 2012
R. D. Harrison, CPA Certified Public Accountant Member American Institute of Certified Public Accountants Registered with the Public Company Accounting Oversight Board ALAMO COLLEGES FOUNDATION, INC. AUDITED
More informationNONPROFIT ENTERPRISE AT WORK, INC.
FINANCIAL STATEMENTS For the year ended June 30, 2013 and 2012 FINANCIAL STATEMENTS For the year ended June 30, 2013 and 2012 TABLE OF CONTENTS FINANCIAL STATEMENTS...2 Statements of Financial Position...2
More informationWISHES & MORE AUDITED FINANCIAL STATEMENTS DECEMBER 31, 2014
AUDITED FINANCIAL STATEMENTS DECEMBER 31, 2014 SCHLENNER WENNER & CO. Certified Public Accountants & Business Consultants TABLE OF CONTENTS Independent Auditors' Report... 1 Statements of Financial Position...
More informationTHE AUTISM SOCIETY OF COLORADO FINANCIAL STATEMENTS DECEMBER 31, 2012
FINANCIAL STATEMENTS DECEMBER 31, 2012 C O N T E N T S Independent Auditor s Report 2-3 Statements of Financial Position 4 Statements of Activities 5-6 Statements of Cash Flows 7 Notes to Financial Statements
More informationCollaborative For Children. Financial Statements and Independent Auditors Report for the years ended December 31, 2011 and 2010
Financial Statements and Independent Auditors Report for the years ended December 31, 2011 and 2010 Blazek & Vetterling C ERTIFIED P UBLIC A CCOUNTANTS Independent Auditors Report To the Board of Directors
More informationEVERGREEN COMMUNITY CHURCH FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2012 AND 2011
FINANCIAL STATEMENTS YEARS ENDED TABLE OF CONTENTS YEARS ENDED INDEPENDENT AUDITORS REPORT 1 FINANCIAL STATEMENTS STATEMENTS OF ASSETS, LIABILITIES AND NET ASSETS MODIFIED CASH BASIS 3 STATEMENTS OF SUPPORT,
More informationigem Foundation, Inc. Financial Statements Year Ended December 31, 2012
Financial Statements Year Ended December 31, 2012 Table of Contents Independent Auditors Report 1-2 Financial Statements: Statement of Financial Position 3 Statement of Activities and Changes in Net Assets
More informationJewish Community Foundation of San Diego. Consolidated Financial Statements and Supplemental Information
Jewish Community Foundation of San Diego Consolidated Financial Statements and Supplemental Information Years Ended June 30, 2015 and 2014 Consolidated Financial Statements and Supplemental Information
More informationNEWSONG COMMUNITY CHURCH OF ORANGE COUNTY
NEWSONG COMMUNITY CHURCH OF ORANGE COUNTY Financial Statements With Accountants' Review Report August 31, 2012 NEWSONG COMMUNITY CHURCH OF ORANGE COUNTY Table of Contents Accountants' Review Report 1 Financial
More informationSeaChange Capital Partners, Inc. Financial Statements. December 31, 2014 and 2013
Financial Statements Board of Directors SeaChange Capital Partners, Inc. Independent Auditors Report We have audited the accompanying financial statements of SeaChange Capital Partners, Inc. (SeaChange),
More informationTHE VIRGINIA COLLEGE FUND FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION
FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION YEARS ENDED MAY 31, 2014 AND 2013 CONTENTS INDEPENDENT AUDITOR S REPORT... Page 1-2 FINANCIAL STATEMENTS STATEMENTS OF FINANCIAL POSITION... 3 STATEMENTS
More informationUNIVERSITY CITY CHILDREN S CENTER AND SUBSIDIARY CONSOLIDATED FINANCIAL STATEMENTS WITH SUPPLEMENTARY INFORMATION DECEMBER 31, 2014 AND 2013
AND SUBSIDIARY CONSOLIDATED FINANCIAL STATEMENTS WITH SUPPLEMENTARY INFORMATION DECEMBER 31, 2014 AND 2013 DECEMBER 31, 2014 AND 2013 Table of Contents Page Independent Auditors' Report 1 Consolidated
More informationOPERATION SMILE, INC. Consolidated Financial Statements. June 30, 2014 and 2013. (With Independent Auditors Report Thereon)
(With Independent Auditors Report Thereon) Table of Contents Page(s) Independent Auditors Report 1 2 Consolidated Statements of Financial Position 3 Consolidated Statements of Activities 4 Consolidated
More informationMEDICAL MINISTRY USA dba MEDICAL MINISTRY INTERNATIONAL
Financial Statements Together with Independent Auditors Report For the Year Ended SWALM & ASSOCIATES, P.C. Certified Public Accountants FINANCIAL STATEMENTS Table of Contents Page Independent Auditors
More informationBOISE RESCUE MISSION, INC. (a nonprofit organization) CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION
(a nonprofit organization) CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION Years Ended September 30, 2014 and 2013 TABLE OF CONTENTS Page Independent Auditors Report...3 Consolidated Statements
More informationFINANCIAL STATEMENTS. For the Years Ended March 31, 2014 and 2013 with Independent Auditors Report
FINANCIAL STATEMENTS For the Years Ended with Independent Auditors Report FINANCIAL STATEMENTS CONTENTS Page Independent Auditors Report... 1-2 Financial Statements: Statements of Financial Position...3
More informationUniversity of Central Florida Foundation, Inc. (A Discrete Component Unit of the University of Central Florida)
University of Central Florida Foundation, Inc. (A Discrete Component Unit of the University of Central Florida) Single Audit Report Year Ended June 30, 2015 Contents Independent Auditor s Report 1 Management
More informationCENTRE COLLEGE OF KENTUCKY Danville, Kentucky. FINANCIAL STATEMENTS June 30, 2013 and 2012
Danville, Kentucky FINANCIAL STATEMENTS Danville, Kentucky FINANCIAL STATEMENTS CONTENTS INDEPENDENT AUDITOR S REPORT... 1 FINANCIAL STATEMENTS STATEMENTS OF FINANCIAL POSITION... 3 STATEMENTS OF ACTIVITIES...
More informationFINANCIAL MANAGEMENT POLICIES AND PROCEDURES
FINANCIAL MANAGEMENT POLICIES AND PROCEDURES 1. GENERAL PURPOSE The purpose of these policies is to establish guidelines for developing financial goals and objectives, making financial decisions, reporting
More informationCHARITY GLOBAL, INC. Financial Statements
Financial Statements (With Independent Auditors Report Thereon) KPMG LLP 345 Park Avenue New York, NY 10154-0102 Independent Auditors Report The Board of Directors Charity Global, Inc.: We have audited
More informationGrace Centers of Hope and Subsidiaries. Consolidated Financial Report October 31, 2013
Consolidated Financial Report October 31, 2013 Contents Report Letter 1 Consolidated Financial Statements Balance Sheet 2 Statement of Activities and Changes in Net Assets 3 Statement of Functional Expenses
More informationATLANTA, GEORGIA REPORT ON AUDITS OF FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2012 AND 2011
ATLANTA, GEORGIA REPORT ON AUDITS OF FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2012 AND 2011 INDEX TO FINANCIAL STATEMENTS DECEMBER 31, 2012 AND 2011 PAGE INDEPENDENT AUDITOR'S REPORT STATEMENTS
More informationHow To Read A University Or College'S Financial Statement
Understanding College and University Financial Statements By Rudy Fichtenbaum Professor of Economics Department of Economics Wright State University Dayton, OH 45435 (937) 775-3085 rfichtenbaum@sbcglobal.net
More informationASSOCIATED STUDENTS OF CALIFORNIA STATE UNIVERSITY, LOS ANGELES, INC. (A Component Unit of California State University, Los Angeles)
CALIFORNIA STATE UNIVERSITY, LOS ANGELES, INC. (A Component Unit of California State University, Los Angeles) Independent Auditor's Report, Financial Statements and Supplemental Information For the Years
More informationFinancial Statements September 30, 2014 and 2013 Utah Microenterprise Loan Fund
Financial Statements Utah Microenterprise Loan Fund www.eidebailly.com Table of Contents Independent Auditor s Report... 1 Financial Statements Statements of Financial Position... 2 Statements of Activities...
More informationTHE HUD PARTNERSHIP CENTER S CAPACITY BUILDING WORKSHOP SERIES: FINANCIAL MANAGEMENT MODULE
THE HUD PARTNERSHIP CENTER S CAPACITY BUILDING WORKSHOP SERIES: FINANCIAL MANAGEMENT MODULE U.S. Department of Housing and Urban Development Center for Faith Based and Neighborhood Partnerships Financial
More informationEPISCOPAL CHURCH HOME & AFFILIATES LIFE CARE COMMUNITY, INC. d/b/a CANTERBURY WOODS
EPISCOPAL CHURCH HOME & AFFILIATES LIFE CARE COMMUNITY, INC. d/b/a CANTERBURY WOODS Financial Statements as of December 31, 2014 and 2013 Together with Independent Auditor s Report INDEPENDENT AUDITOR
More information10/9/2015. Agenda. Audit Committees. Presentation of Financial Statements of Not-for-Profit Entities. Audit Committees
Presentation of Financial Statements of Not-for-Profit Entities Presented by Tony Smith, CPA Beth Allen, CPA GreerWalker LLP Agenda Audit Committees The Who s, Why s, What s, When s, and How s Board Governance
More informationThe Institute for Spirituality and Health. Financial Statements and Independent Auditors Report for the years ended June 30, 2012 and 2011
Financial Statements and Independent Auditors Report for the years ended June 30, 2012 and 2011 Blazek & Vetterling C ERTIFIED P UBLIC A CCOUNTANTS Independent Auditors Report To the Board of Directors
More informationNonprofit Finance Fund. Demystifying Financial Statements: Assessing the Nonprofit Business Model. March 2013
Nonprofit Finance Fund Demystifying Financial Statements: Assessing the Nonprofit Business Model Presented by Alice Antonelli Senior Finance Advisor Nonprofit Finance Fund March 2013 Overview: Nonprofit
More informationFinancial Health Analysis. Sample Choir. Overview 1. Dashboard 2
Report Sample Choir Page Overview 1 Dashboard 2 Overall Annual Performance Overview 3 Unrestricted Revenue & Expenses 4 Unrestricted Surplus (Deficit) 5 Separating Operating Revenue from Capital 7 Revenue
More informationBOSTON PARTNERS IN EDUCATION, INC. Financial Statements and Independent Auditors Report August 31, 2015
Financial Statements and Independent Auditors Report Randall S. Davis & Company LLP Certified Public Accountants Creating Value From Numbers To the Board of Directors of Boston Partners in Education, Inc.
More informationFINANCIAL MANAGEMENT POLICIES AND PROCEDURES
FINANCIAL MANAGEMENT POLICIES AND PROCEDURES SAMPLE 1. GENERAL PURPOSE The purpose of these policies is to establish guidelines for developing financial goals and objectives, making financial decisions,
More informationDALLAS MISSION FOR LIFE d.b.a. DALLAS LIFE
FINANCIAL STATEMENTS With Independent Auditors Report Table of Contents Independent Auditors Report 1 Financial Statements Statement of Financial Position 3 Statement of Activities 4 Statement of Cash
More informationFINANCIAL STATEMENTS AND REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS JOSEPH S HOUSE, INC. (A NON-PROFIT ORGANIZATION)
FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS JOSEPH S HOUSE, INC. (A NON-PROFIT ORGANIZATION) September 30, 2013 and 2012 CONTENTS Page Report of Independent Certified Public
More informationCHARITY GLOBAL, INC. Financial Statements. (With Independent Auditors Report Thereon)
Financial Statements (With Independent Auditors Report Thereon) KPMG LLP 345 Park Avenue New York, NY 10154-0102 Independent Auditors Report The Board of Directors Charity Global, Inc. We have audited
More informationNotes to Financial Statements - Summary of Significant Accounting Policies (1)
Audited Financial Statements June 30, 2011 and 2010 Contents Independent Auditors' Report... 1 Financial Statements: Statements of Financial Position... 2 Statement of Activities... 3 Statement of Cash
More informationTHE WILLIAM PATERSON UNIVERSITY OF NEW JERSEY (A Component Unit of the State of New Jersey)
Financial Statements and Management s Discussion and Analysis (With Independent Auditors Report Thereon) Table of Contents Management s Discussion and Analysis 1 Independent Auditors Report 12 Financial
More informationQueens University of Charlotte
Financial Statements and Supplementary Information Year Ended June 30, 2013 (with comparative financial information for the year ended June 30, 2012) The report accompanying these financial statements
More informationFinancial Statements and Report of Independent Certified Public Accountants
Financial Statements and Report of Independent Certified Public Accountants United States Olympic and Paralympic Foundation Contents Page Report of Independent Certified Public Accountants 2 Statements
More informationTHE NATIONAL SECURITY ARCHIVE FUND, INC. FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT DECEMBER 31, 2014 AND 2013 WWW.MCB-CPA.
FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT WWW.MCB-CPA.COM TABLE OF CONTENTS Independent Auditors Report 1 Financial Statements: Statements of Financial Position 2 Statements of Activities and
More information