STATEMENT OF ACTIVITIES AND CHANGE IN UNRESTRICTED NET ASSETS
(Prepared on the Cash Basis of Accounting)
FOR THE YEAR ENDED DEC. 31, 2007
| PROGRAM REVENUES | ||
| Dues | $ 1,085.00 | |
| Annual meeting | 665.00 | |
| Golf outing | 2,745.00 | |
| Other | 0.00 | |
| Total--Unrestricted Program Revenues | 4,495.00 | |
| PROGRAM EXPENSES | ||
| Golf outing expenses | 2,944.27 | |
| Annual meeting expenses | 727.51 | |
| Supplies | 87.73 | |
| Postage | 50.55 | |
| Miscellaneous | 120.00 | |
| Total--Unrestricted Program Expenses | 3,930.06 | |
| Increase in Unrestricted Net Assets | 564.94 | |
| Unrestricted Net Assets at December 31, 2006 | 933.83 | |
| Transfer to Permanently Restricted Assets for "Scholarship Portion" of dues | (600.00) | |
| Unrestricted Net Assets at Dec. 31, 2007 | $ 898.77 | |
STATEMENT OF ACTIVITIES AND CHANGE IN PERMANENTLY RESTRICTED NET ASSETS
(Prepared on the Cash Basis of Accounting)
FOR THE YEAR ENDED DECEMBER 31, 2007
| RECEIPTS | ||
| Contributions | $ 1,770.00 | |
| Interest | 38.49 | |
| EXPENDITURES | ||
| Scholarship awarded | (1,667.00) | |
| Net Increase in Permanently Restricted Net Assets | 141.49 | |
| Permanently Restricted Net Assets at December 31, 2006 | 2,459.26 | |
| Transfer from Unrestricted Assets | 600.00 | |
| Permanently Restricted Net Assets at December 31, 2007 | $ 3,200.75 | |
STATEMENT OF ASSETS, LIABILITIES AND NET ASSETS
(Prepared on the Cash Basis of Accounting)
DECEMBER 31, 2007
|
ASSETS |
||
| Cash in Checking | $ 898.77 | |
| Savings account--Permanently restricted | 3,200.75 | |
| Total--Assets | $ 4,099.52 | |
|
LIABILITIES AND NET ASSETS |
||
| Net Assets | ||
| Unrestricted | 898.77 | |
| Permanently restricted--Scholarships | 3,200.75 | |
| Total--Net Assets | 4,099.52 | |
| Total--Liabilities and Net Assets | $ 4,099.52 | |