Financial Statements Year Ended December 31, 2007
Statements of Activities |
|
| 2007 | |
|---|---|
| Changes in unrestricted net assets | |
| Revenues | |
| Investment income and gains, net | 14,055,480 |
| Fundraising fees | 7,359,647 |
| Other Income | 467,254 |
| Net assets released from restrictions | 19,821,540 |
| Total unrestricted revenues | 41,703,921 |
| Expenses | |
| Children's Health Initiative grants | 19,134,049 |
| Children's Health Initiative oversight | 687,491 |
| Programs & Grants | 4,450,273 |
| Communication/Information Program | 1,254,272 |
| Administration | 945,706 |
| Development | 7,547,300 |
| Total Expenses | 34,019,091 |
| Change in unrestricted net assets | 7,684,830 |
| Changes in temporarily restricted net assets | |
| Investment income and gains, net | 2,392,738 |
| Net assets released from restrictions | (19,821,540) |
| Change in temporarily restricted net assets | (17,428,802) |
| (Decrease) Increase in net assets | (9,743,972) |
| Total net assets, beginning of year | 170,240,875 |
| Total net assets, end of year | $160,496,903 |
Statements of Financial Position |
|
| 2007 | |
| Assets | |
| Cash and cash equivalents | 13,973,355 |
| Pledges designated for others | 34,420,733 |
| Investments | 184,660,639 |
| Other assets | 10,011,770 |
| Total assets | $243,066,497 |
| Liabilities and net assets | |
| Liabilities | |
| Accounts payable and accrued expenses | 1,722,554 |
| Deferred rent | 195,420 |
| Grants payable | |
| Community grants | 2,271,092 |
| Children's Health Initiative grants | 5,530,128 |
| Funds designated for others | 63,850,400 |
| Total liabilities | $73,569,594 |
| Net assets | |
| Unrestricted net assets | 112,160,276 |
| Temporarily restricted net assets | 48,336,627 |
| Total net assets | 160,496,903 |
| Total liabilities and net assets | $234,066,497 |
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 statement is available on request.