Alpha Phi Foundation Annual Financial Report Alpha Phi Foundation’s financial statements are audited annually in accordance with generally accepted accounting principles and auditing standards. For the years ending June 30, 2011 and 2010, this independent audit was conducted by Legacy Professionals, LLP (Chicago, Ill.).
Statements of Activities Year Ended June 30, 2011 Unrestricted Temporarily Permanently Restricted Restricted
Contributions Appeal
Statements of Financial Position June 30, 2011 and 2010 ASSETS
Total
REVENUE, GAINS AND OTHER SUPPORT $1,364,798
$44,939
288,207
–
Community
2011 2010
Leadership Endowment
–
$101,334 $1,511,071 6
288,213
– 135,251 135,251
Other
– 164,721
– 164,721
Receivables
Bequests
176,984 70,000
– 246,984
Contribution Receivable from Remainder Trusts
Sale of Alpha Phi Merchandise
Cash And Cash Equivalents
Unconditional Pledges Receivable – Net
$1,081,460
$1,776,030
17,875
18,225
Rental Income 969,779
1,290,747
Bequest Receivable
70,000
210,701
Accrued Interest
16,834
11,636
Other Receivable
2,700
–
Prepaid Expense
969
768
Inventory
618 3,163
Investments
6,922,696 4,263,092
Property And Equipment
Net of Accumulated Depreciation
Total Assets
525,523
554,915
$9,608,454
$8,129,277
Investment Income (Loss) – Net
3,062 – – 3,062 26,100 – – 26,100 980,758
Change in the Value of Split-Interest Agreements Other Net Assets Released from Restrictions T otal Revenue, Gains and Other Support
65,610
–
–
1,046,368
– (350) (350)
2,823 – – 2,823 814,559 (584,559) (230,000) $3,657,291
($239,289)
$6,241
–
$3,424,243
EXPENSES Scholarships $131,024 – – $131,024
LIABILITIES AND NET ASSETS
Liabilities
Community Projects 209,248 – – 209,248
Accounts Payable
$35,499
$30,884
Accrued Expenses
19,062
19,838
Scholarships Payable
136,244
137,650
Related Party Payable
10,264
5,465
244,552
160,751
$445,621
$354,588
Grants Payable
Total Liabilities
Heart to Heart Projects 49,309 – – 49,309
Forget Me Not
45,000
–
–
45,000
Philanthropic and Educational 785,887 – – 785,887 Total Program Services
$1,220,468 – – $1,220,468
Management and General 319,236 – – 319,236 Fundraising
496,395
–
– 496,395
Net Assets Unrestricted
$4,837,378
Temporarily Restricted Permanently Restricted
342,528
$3,216,186
Total Expenses $2,036,099 – – $2,036,099
581,817
3,982,927
3,976,686
Total Net Assets
$9,162,833
$7,774,689
Total Liabilities and Net Assets
$9,608,454
$8,129,277
Change In Net Assets $1,621,192
($239,289)
$6,241
$1,388,144
NET ASSETS
Beginning of Year
$3,216,186
$581,817
$3,976,686
$7,774,689
End of Year
$4,837,378
$342,528
$3,982,927
$9,162,833
$50,000
$400,000 +
to fund an outreach program at St. Luke’s Women’s Heart Center in Kansas City, Mo., to help women improve the day-to-day management of their heart health
granted to fund innovative training and education programs of Alpha Phi Fraternity, including the Emerging Leaders Institute, empowering women and developing the leaders of tomorrow (33% increase from Fiscal Year 2010)
awarded through the Heart to Heart grant
Winter 2012
Alpha Phi Quarterly
29