Financial Statements
Years Ended December 31, 2011 and 2010
Statements of Activities
| |
2011 |
|
2010 |
| Changes in unrestricted net assets: |
|
|
|
| Revenues and other support: |
|
|
|
| Investment income and gains, net |
[$1,824,327] |
|
$11,093,743 |
| Reimbursement of development expenses |
10,491,468 |
|
9,571,092 |
| Other Income |
102,400 |
|
32,720 |
| Net assets released from restrictions |
5,485,384 |
|
3,891,724 |
| Total unrestricted revenues and other support |
14,254,925 |
|
24,589,279 |
| Expenses: |
|
|
|
| Children’s Health Initiative |
5,485,384 |
|
3,891,724 |
| Development |
9,549,451 |
|
8,508,749 |
| Foundation programs |
8,508,749 |
|
2,070,786 |
| Finance and administration |
1,377,281 |
|
1,463,294 |
| Total Expenses |
19,064,138 |
|
15,934,553 |
| Increase in unrestricted net assets |
[4,809,213] |
|
8,654,726 |
| Changes in temporarily restricted net assets: |
|
|
|
| Investment income and gains, net |
97,266 |
|
7,175 |
| Net assets released from restrictions |
[5,485,384] |
|
[3,891,724] |
| Return of unused grant funds |
0 |
|
3,951,510 |
| Increase (decrease) in temporarily restricted net assets |
[5,388,118] |
|
66,961 |
| Increase in net assets |
[10,197,331] |
|
8,721,687 |
| Total net assets, beginning of year |
130,117,125 |
|
121,395,438 |
| Total net assets, end of year |
$119,919,794 |
|
$130,117,125 |
Statements of Financial Position
| |
2011 |
|
2010 |
| Assets |
|
|
|
| Cash and cash equivalents |
$13,045,486 |
|
$12,318,854 |
| Pledges designated for others |
54,084,883 |
|
55,301,249 |
| Investments |
136,435,776 |
|
147,827,414 |
| Note receivable from related party |
684,850 |
|
684,850 |
| Other assets |
794,269 |
|
933,553 |
| Total assets |
$205,045,264 |
|
$217,065,920 |
| Liabilities and Net Assets |
|
|
|
| Liabilities: |
|
|
|
| Accounts payable and accrued expenses |
$5,194,575 |
|
$4,711,954 |
| Deferred rent |
515,310 |
|
470,315 |
| Grants payable: |
|
|
|
| Community grants |
81,439 |
|
391,500 |
| Children's Health Initiative grants |
1,002,148 |
|
1,407,740 |
| Funds designated for others |
78,331,998 |
|
79,967,286 |
| Total liabilities |
85,125,470 |
|
86,948,795 |
| Net assets: |
|
|
|
| Unrestricted net assets |
94,732,374 |
|
99,541,587 |
| Temporarily restricted net assets |
25,187,420 |
|
30,575,538 |
| Total net assets |
119,919,794 |
|
130,117,125 |
| Total liabilities and net assets |
$205,045,264 |
|
$217,065,920 |
Note: The notes that accompany the financial report are an integral part of the financial statements and are required for a full presentation. They are not included here. A copy of the audited financial statements available upon request.
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