 |
Statement of Activities
Statement of Financial Position
2003
Statement of Activities
Year Ended
June 30, 2003
With Comparative
Totals for the Year Ended June 30, 2002
| SUPPORT,
REVENUES AND RECLASSIFICATIONS |
Total
2003 |
Total
2002 |
| McKnight Foundation Grant |
|
|
| Other Grants |
|
|
| Contributions |
$946,543 |
$794,327 |
| Gain (Loss) on Sale of Investments
and Capital Dividend |
$85,970 |
($70,025) |
| Investment Income |
$556,439 |
$760,561 |
| Unrealized Loss |
($292,659) |
($2,174,989) |
| Loan Interest Income |
$492,347 |
$467,160 |
| Recovery of Written-off Loans |
$360 |
$32,022 |
| Miscellaneous Income |
$27,758 |
$52,011 |
| Transfer from Unrestricted |
$0 |
$0 |
| Net Assets Released from Restriction |
$0 |
$0 |
Total Support, Revenues
and Reclassifications |
$3,438,321 |
$1,665,035 |
| |
|
|
| EXPENSES |
Total
2003 |
Total
2002 |
| General and Administrative |
$579,197 |
$516,171 |
| Fund Development |
$172,980 |
$172,240 |
| Grant Programs |
$1,103,662 |
$1,535,721 |
| Loan Programs |
$418,877 |
$572,004 |
| Component Funds |
$15,544 |
$9,878 |
| Community Foundation |
$35,296 |
$60,169 |
|
Total Expenses |
$2,325,556 |
$2,866,183 |
|
Change in Net Assets |
$1,112,765 |
($1,201,148) |
| |
|
|
| NET ASSETS - JULY 1 |
$31,093,160 |
$32,294,308 |
| NET ASSETS - JUNE 30 |
$32,205,925 |
$31,093,160 |
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2003
Statement of Financial Position
Year Ended
June 30, 2003
With Comparative
Totals for the Year Ended June 30, 2002
| ASSETS |
Total
2003
|
|
| Cash and Cash Equivalents |
$4,671,529 |
$3,422,206 |
| Investments |
$20,750,960 |
$22,327,827 |
| CD Interest Receivable |
$9,048 |
$0 |
| Loan Interest Receivable |
$40,615 |
$52,124 |
| Grant Receivable |
$104,474 |
$6,144 |
| Pledges Receivable |
$150,508 |
$80,244 |
| Loans Receivable (Net of Allowance) |
$7,805,030 |
$7,338,937 |
| Due from McKnight |
$523,486 |
$155,821 |
| Prepaids |
$12,407 |
$8,614 |
| Beneficial Interest in Life Estate |
$242,000 |
$0 |
| Property and Equipment, Net |
$886,335 |
$96,149 |
| Total
Assets |
$35,196,392 |
$33,488,066 |
| |
|
|
| LIABILITIES AND NET ASSETS |
|
|
| LIABILITIES |
Total
2003
|
|
| Grants Payable |
$796,178 |
$1,331,825 |
| Accounts Payable |
$7,837 |
$13,481 |
| Accrued Liabilities |
$66,318 |
$62,267 |
| Assets Held on Donor's Behalf |
$29,055 |
$29,079 |
| Notes Payable |
$2,091,079 |
$958,254 |
| Total Liabilities |
$2,990,467 |
$2,394,906 |
| |
|
|
| NET ASSETS |
|
|
| Unrestricted |
$8,321,599 |
$8,681,211 |
| Temporarily Restricted |
$9,995,719 |
$9,726,247 |
| Permanently Restricted |
$13,888,607 |
$12,685,702 |
| Total Net Assets |
$32,205,925 |
$31,093,160 |
| |
|
|
| TOTAL LIABILITIES AND NET ASSETS |
$35,196,392 |
$33,488,066 |
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