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, 2009, and 2008, this independent audit was conducted by legacy professionals, llp of Chicago, ill.
Statements of Financial Position (June 30, 2009, and 2008) 2009
2008
2009
Assets Cash and Cash Equivalents
$
1,619,188
$
Liabilities Accounts payable Accrued expenses Scholarships payable Related party payable Grants payable Total liabilities
1,007,310
Receivables Contribution receivable from remainder trusts Unconditional pledges receivable–net Accrued interest Prepaid Expense Inventory Investments Property and Equipment Net of accumulated depreciation Total assets
2008
Liabilities and Net Assets
$
34,058
10,409
1,365,177
1,179,079
1,865
3,885
877
2,735
2,054
2,086
3,010,472
3,612,983
592,025 6,625,716
$
$
Net Assets Unrestricted Temporarily restricted Permanently restricted Total net assets Total liabilities and net assets
629,275 6,547,762
$
8,482 21,594 134,000 10,974 67,942 242,992 2,013,010 464,689 3,905,025 6,382,724 6,625,716
$
$
1,600 12,194 166,400 33,137 42,049 255,380 2,122,884 431,154 3,738,344 6,292,382 6,547,762
Statements of Activities (Year Ended June 30, 2009) Temporarily Restricted
Unrestricted
Permanently Restricted
Total
Revenue, Gains, and Other Support Contributions Appeal Community Leadership endowment Bequests Sale of Alpha Phi merchandise Rental income Investment income (loss)–net Change in the value of split-interest agreements Other Net assets released from restrictions Total revenue, gains and other support
$
1,369,036 204,161 233,741 365 26,100 (563,938) -
$
13,873 48,074 611 206,177
$
61,419 103,474 1,788 -
$
1,444,328 204,161 103,474 233,741 365 26,100 (515,864) 2,399 206,177
1,269,465
268,735
166,681
1,704,881
235,200 1,504,665
(235,200) 33,535
166,681
1,704,881
Expenses Scholarships Heart to Heart projects Community projects Forget-Me-Not
130,735
-
-
32,543
-
-
130,735 32,534
165,934
-
-
165,934
24,000
-
-
24,000
Philanthropic and educational
501,572
-
-
501,572
Total program services
854,775
-
-
854,775
Management and general
250,063
-
-
250,063
Fundraising
509,701
-
-
509,701
1,614,539
-
-
1,614,539
Change in Net Assets Net Assets
(109,874)
33,535
166,681
90,342
Net Assets Beginning of year End of year
2,122,884 2,013,010
431,154 464,689
3,738,344 3,905,025
6,292,382 6,382,724
Total expenses
SPRING 2010
AlphA phi QuArterly
23