2008 Audit

Cpraskovich

Description

Financial Statements and Report of Independent Certified Public Accountants Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia August 31, 2008 and 2007 TABLE OF CONTENTS Page Report of Independent Certified Public Accountants 2 Statements of Financial Position 3 Activities 4 – 5 Statements of Functional Expenses 6 – 7 Cash Flows 8 Notes to Financial Statements 9 - 17 2 Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia STATEMENTS OF FINANCIAL POSITION August 31, 2008 and 2007 ASSETS 2008 2007 Cash and cash equivalents $ 554,872 $ 696,903 Investments 4,681,217 4,535,637 Unconditional promises to give 504,241 561,193 Due from National Organization 32,782 20,022 Product inventories 23,519 34,240 Prepaid expenses 179,974 147,697 Cash and cash equivalents restricted for long-term purposes 228,000 266,353 Office furniture and equipment, net 153,953 143,730 Total Assets $ 6,358,558 $ 6,405,775 LIABILITIES AND NET ASSETS Accounts payable $ 231,126 $ 248,535 Accrued expenses 154,802 140,579 Accrued pending wish costs 1,278,317 1,226,177 Deferred revenue 18,676 10,244 Total liabilities 1,682,921 1,625,535 ...

Informations

• Publié par: Lomif
• Nombre de lectures: 31
• Langue: English

Extrait

       

 

 

 

Financial Statements and Report of Independent Certified Public Accountants   Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia   August 31, 2008 and 2007

 

       

    TABLE OF CONTENTS        

 

    Report of Independent Certified Public Accountants   Statements of Financial Position   Statements of Activities   Statements of Functional Expenses   Statements of Cash Flows   Notes to Financial Statements

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Page   2   3   4 – 5   6 – 7   8   9 - 17   

         

         

  Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia STATEMENTS OF FINANCIAL POSITION August 31, 2008 and 2007 ASSETS

Cash and cash equivalents Investments Unconditional promises to give Due from National Organization Product inventories Prepaid expenses Cash and cash equivalents restricted for  long-term purposes Office furniture and equipment, net  Total Assets

2008 $ 554,872  4,681,217  504,241  32,782  23,519  179,974  228,000  153,953 $ 6,358,558

$ 231,126  154,802  1,278,317  18,676  1,682,921                      -

LIABILITIES AND NET ASSETS Accounts payable Accrued expenses Accrued pending wish costs Deferred revenue  Total liabilities Commitments and contingencies Net assets:  Unrestricted 952,147  Temporarily restricted 1,544,189  Permanently restricted 2,179,301  Total net assets 4,675,637  Total Liabilities and Net Assets $ 6,358,558      The accompanying notes to financial statements are an integral part of this statement.  

4 

2007 $ 696,903  4,535,637  561,193  20,022  34,240  147,697  266,353  143,730 $ 6,405,775

$ 248,535  140,579  1,226,177  10,244  1,625,535 -                     

 1,017,405  1,590,442  2,172,393  4,780,240 $ 6,405,775

        Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia STATEMENTS OF ACTIVITIES For the year ended August 31, 2008 (with comparative totals for 2007)   Temporarily Permanently TOTAL TOTAL Unrestricted Restricted Restricted 2008 2007 REVENUES AND OTHER SUPPORT:  Direct public support $ 1,222,853 $1,925,864 $ 11,480 $ 3,160,197 $ 2,915,601  Corporate gifts  372,916 136,327 - 509,243 469,252                                   Planned gifts  358,344 44,200 - 402,544 96,591  In-kind gifts  113,290 1,697,193 - 1,810,483 1,704,959                                                                         Grants   206,450 317,573 - 524,023 504,292  Internal special events  220,186 257,510 32,321 510,017 488,970                                               Less cost of direct benefit to donor  (45,574) (93,253) - (138,827) (121,034)                                                                174,612 164,257 32,321 371,190 367,936  External special events  577,594  91,253 422,331 18,550 532,134                                                                                           Other income  9,480 - - 9,480 8,587  Net assets rel ased from restrictions e 4,730,245  (4,730,245) - - -  Investm ent return, net  35,037 9,681 - 44,718 448,482  Total Revenues and                                                    Other Support  7,314,480 (12,819) 62,351 7,364,012 7,093,294 EXPENSES:  Program Services:  Wish granting and program related                                                                            support  6,466,514 - 6,466,514 5,868,826 -       Total Program Services                                                                            6,466,514 - - 6,466,514 5,868,826  Support Services:                                                                       Fund raising  722,822 722,822 730,413 - -  Management and general  339,213 - - 339,213 353,834      Total Support Services  1,062,035 - - 1,062,035 1,084,247 Total Expenses                                                                                        7,528,549 - - 7,528,549 6,953,073  INCREASE (DECREASE) IN                              NET ASSETS   (214,069) (12,819) 62,351 (164,537) 140,221                Net assets, beginning of year  1,017,405 1,590,442 2,172,393 4,780,240 4,640,019 Transfer of Northeast Pennsylvania net assets (Note A) 59,934 - - 59,934 -                                                                                        Transfer of net assets  88,877 (33,434) (55,443) - - Net assets, end of year $ 952,147 $ 1,544,189 $ 2,179,301 $ 4,675,637 $ 4,780,240 The accompanying notes to financial statements are an integral part of this statement. 5  

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Net assets, end of year

 (536,437)  1,553,842                            -

 INCREASE (DECREASE) IN  NET ASSETS Net assets, beginning of year Transfer of net assets

 655,079  935,363                            -

$ 1,017,405

$ 2,172,393

$ 1,590,442

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 730,413  353,834

 1,084,247

 5,868,826

-                            -                            

 6,953,073

 5,868,826

 655,079

Unrestricted  $ 1,120,500  336,939  96,591  201,979  118,742  259,079  (26,223)  232,856  92,371  8,587  4,151,635  56,436

Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia STATEMENT OF ACTIVITIES For the year ended August 31, 2007 Temporarily  Restricted $ 1,787,488  122,313 -                             1,502,980  385,550  229,891  (94,811)  135,080  481,257 -                             (4,151,635)  392,046

 

   

 140,221  4,640,019 -                           

$ 4,780,240

 21,579  2,150,814                             -

 Total Expenses

 Total Support Services

 Total Program Services  Support Services:  Fund raising  Management and general

 Total Revenues and  Other Support EXPENSES:  Program Services:  Wish granting and program related  support

REVENUES AND OTHER SUPPORT:  Direct public support  Corporate gifts  Planned gifts  In-kind gifts  Grants  Internal special events  Less cost of direct benefit to donor            External special events  Other income  Net assets released from restrictions  Investment return, net

 21,579

Permanently  Restricted $ 7,613  10,000 -                                                         - -                                                         -                             - -                              3,966 -                             -                                                         -

 6,416,636

-                          

                          -

                          -

                          -

 5,868,826

 5,868,826

TOTAL 2007 $ 2,915,601  469,252  96,591  1,704,959  504,292  488,970  (121,034)  367,936  577,594  8,587 -                             448,482

 7,093,294

-                           

-                           

-                           

                           -

 1,084,247

 730,413  353,834

                          - -                           

 6,953,073

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TOTAL 2008 $ 4,730,245        1,924,414           183,168             36,653             65,669             64,866             29,696           214,589             37,720             21,749             57,323             61,728             65,456             35,273 $ 7,528,549

Support Services Management Fund and raising general $ - $ -                            481,104 250,121       38,511 23,812        8,010 4,007       16,121 10,039       29,131 2,189       15,144 6,742       32,188 19,313         8,715 4,910        9,415 3,621       12,914 8,001                                            - -       55,496 3,385       16,073 3,073 $ $ 722,822 339,213

TOTAL 2007 $ 4,151,635       1,830,738          216,861            42,385            57,341            58,950            41,538          181,563            40,572            29,418            52,071          121,585            83,909            44,507 $ 6,953,073

  Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia STATEMENTS OF FUNCTIONAL EXPENSES For the year ended August 31, 2008 (with comparative totals for 2007)

 .  

 

Program Services Wish granting and program related support $ 4,730,245  1,193,189  120,845  24,636  39,509  33,546  7,810  163,088  24,095  8,713  36,408  61,728  6,575  16,127 $ 6,466,514

Direct costs of wishes Salaries, payroll taxes, and benefits Rent and utilities Telephone Office supplies Postage and delivery Professional fees National assessment Repair and maintenance Meetings and conferences Depreciation and amortization Volunteer and outreach expenses Printing Miscellaneous 

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        Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia STATEMENT OF FUNCTIONAL EXPENSES For the year ended August 31, 2007 Program Services Support Services Wish granting Management and program Fund and related support raising general $ 4,151,635 $ - $ -  1,115,640 462,539 252,559  142,662 45,528 28,671  27,638 9,456 5,291  32,675 15,729 8,937  25,515 30,712 2,723  16,021 15,738 9,779  137,988 27,234 16,341  25,597 9,357 5,618  11,437 13,891 4,090  32,474 11,925 7,672  121,585 - -                             7,098 69,534 7,277  20,861 18,770 4,876 $ 5,868,826 $ 730,413 $ 353,834

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TOTAL 2007 $ 4,151,635  1,830,738  216,861  42,385  57,341  58,950  41,538  181,563  40,572  29,418  52,071  121,585  83,909  44,507 $ 6,953,073

Direct costs of wishes Salaries, payroll taxes, and benefits Rent and utilities Telephone Office supplies Postage and delivery Professional fees National assessment Repair and maintenance Meetings and conferences Depreciation and amortization Volunteer and outreach expenses Printing Miscellaneous 

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