Financial Statements
Years Ended December 31, 2012 and 2011
Statements of Activities
| |
2012 |
|
2011 |
| Changes in unrestricted net assets: |
|
|
|
| Revenues and other support: |
|
|
|
| Investment income and gains, net |
$9,421,558 |
|
($1,824,327) |
| Reimbursement of development expenses |
11,311,159 |
|
10,491,468 |
| Other Income |
13,500 |
|
102,400 |
| Net assets released from restrictions |
3,787,534 |
|
5,485,384 |
| Total unrestricted revenues and other support |
24,533,751 |
|
14,254,925 |
| Expenses: |
|
|
|
| Children’s Health Initiative |
3,787,534 |
|
5,485,384 |
| Development |
10,110.835 |
|
9,549,451 |
| Foundation programs |
4,899,768 |
|
2,652,022 |
| Finance and administration |
1,496,339 |
|
1,377,281 |
| Total Expenses |
20,294,476 |
|
19,064,138 |
| Increase in unrestricted net assets |
4,239,275 |
|
(4,809,213) |
| Changes in temporarily restricted net assets: |
|
|
|
| Investment income and gains, net |
2,103,891 |
|
97,266 |
| Net assets released from restrictions |
(3,787,534) |
|
(5,485,384) |
| Increase in temporarily restricted net assets |
(1,683,643) |
|
(5,388,118) |
| Increase in net assets |
2,555,632 |
|
(10,197,331) |
| Total net assets, beginning of year |
119,919,794 |
|
130,117,125 |
| Total net assets, end of year |
$122,475,426 |
|
$119,919,794 |
Statements of Financial Position
| |
2012 |
|
2011 |
| Assets |
|
|
|
| Cash and cash equivalents |
$19,250,090 |
|
$13,045,486 |
| Pledges designated for others |
52,428,149 |
|
54,084,883 |
| Investments |
133,465,172 |
|
136,435,776 |
| Note receivable from related party |
600,000 |
|
684,850 |
| Other assets |
1,344,442 |
|
794,269 |
| Total assets |
$207,087,853 |
|
$205,045,264 |
| Liabilities and Net Assets |
|
|
|
| Liabilities: |
|
|
|
| Accounts payable and accrued expenses |
$5,461,613 |
|
$5,194,575 |
| Deferred rent |
550,915 |
|
515,310 |
| Grants payable: |
|
|
|
| Community grants |
978,436 |
|
81,439 |
| Children's Health Initiative grants |
224,299 |
|
1,002,148 |
| Funds designated for others |
77,397,164 |
|
78,331,998 |
| Total liabilities |
84,612,427 |
|
85,125,470 |
| Net assets: |
|
|
|
| Unrestricted net assets |
98,971,649 |
|
94,732,374 |
| Temporarily restricted net assets |
23,503,777 |
|
25,187,420 |
| Total net assets |
122,475,426 |
|
119,919,794 |
| Total liabilities and net assets |
$207,087,853 |
|
$205,045,264 |
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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