FFCF Financial Statement
Statement of Assets, Liabilities, and Net Assets - Cash Basis August 31, 2006
ASSETS
Cash and Cash Equivalents
Cash - Foundation Account $ 125,120.91
Petty Cash 100.00
Money Market - Citigroup Smith Barney 11,497.33
Total Cash and Cash Equivalents 136,718.24
Long-term Investments-Citigroup Smith Barney 11,687.34
Equipment Net of Accumulated Depreciation
of $35,052 40,159.25
TOTAL ASSETS $ 188,564.83
LIABILITIES & NET ASSETS
LIABILITIES
Payroll Taxes Payable $ 690.54
Payable to Gallery 25 200.00
Total Liabilities 890.54
Net Assets
Unrestricted Funds 187,674.29
TOTAL LIABILITIES & NET ASSETS $ 188,564.83
Statement of Revenues, Expenses, and Other Changes in Net Assets - Cash Basis
Combined Operations for the Year Ended August 31, 2006
Revenues, Gains, and Other Support
Contributions $ 71,874.78
Subscriptions & Membership 150,573.89
Banquet 7,161.00
Benefits 5,414.00
Interest 609.39
Dividends 381.84
Stock Value Change 1,041.74
Total Revenues, Gains, and Other Support 237,056.64
Expenses
Advertising 823.50
Bank Charges 814.06
Banquet Expense 8,486.71
Charitable Items 250.00
Depreciation 3,426.00
Events Expense 4,100.63
Insurance 8,736.75
Miscellaneous 2,267.46
Outside Services 430.77
Personnel Costs:
Salaries & Wages $ 33,376.28
Health Insurance 10,813.52
Workers Compensation
Insurance 1,222.66
Payroll Taxes 4,572.90
Total Personnel Costs 49,985.36
Postage 1,785.05
Printing 916.63
Professional Fees 9,142.59
Rent 15,962.94
Satellite & Subscription Services 32,432.70
Scholarships & Grants 14,117.00
Supplies 2,277.42
Telephone & Utilities 10,715.59
Travel & Lodging 1,625.17
Total Expenses 168,296.33
Change in Net Assets 68,760.31
Net Assets at Beginning of Year 118,913.98
Net Assets at End of Year $ 187,674.29