Desert Illini Club

Financial Statements

Statement of Activities and Changes in Unrestricted Net Assets

(Prepared on the Cash Basis of Accounting)

For the Eight Months Ended August 31, 2010

PROGRAM REVENUE
Dues $    710.00
  Annual meeting 1,060.00
Golf outing and dinner 2,075.00
Other 0.00
Total Unrestricted Program Revenues 3,845.00
PROGRAM EXPENSES    
Golf outing expenses 2,174.00
Annual meeting expenses 1,085.00
Website expenses 0.00
Postage 16.72
  Supplies 85.18
  Miscellaneous 0.00
  Total Unrestricted Program Expenses 3,360.90
Increase in Unrestricted Net Assets 484.10
Unrestricted Net Assets at December 31, 2009 1,181.67
Transfer to Permanently Restricted Assets for "Scholarship Portion" of dues (390.00)
Unrestricted Net Assets at August 31, 2010 $   1,275.77


STATEMENT OF ACTIVITES AND CHANGES IN PERMANENTLY RESTRICTED NET ASSETS

(Prepared on the Cash Basis of Accounting)

For the Eight Months Ended August 31, 2010

RECEIPTS
Contributions $    195.00
  Interest 3.63
Total Receipts 198.63
EXPENDITURES    
Scholarship awarded 2,000.00
Net Increase (decrease) in Permanently Restricted Net Assets (1,801.37)
Unrestricted Net Assets at December 31, 2009 2,554.41
Transfer from Unrestricted Assets 390.00
Permanently Restricted Net Assets at August 31, 2010 $   1,173.04

STATEMENT OF ASSETS, LIABILITIES AND NET ASSETS

(Prepared on the Cash Basis of Accounting)

 August 31, 2010

ASSETS
Cash in checking $  1,275.77
Savings account--Permanently restricted 1,143.04
Total Receipts $  2,418.81
LIABILITES AND NET ASSETS    
Net Assets
  Unrestricted $  1,275.77
Permanently restricted for scholarships 1,143.04
  Total Net Assets 2,418.81
Total--Liabilities and Net Assets $  2,418.81
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