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PROCEEDINGS OF THE

2015

MASONIC HOME OF MISSOURI NOTES TO FINANCIAL STATEMENTS 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The significant accounting policies followed by Masonic Home of Missouri are described below to enhance the usefulness of the financial statements to the r e a d e r. Organization: The Masonic Home of Missouri (the Home) is a non-profit corporation established to provide assistance to Missouri Master Masons, their wives, widows, female members of the Order of the Eastern Star and Masonic Children. Assistance is also provided statewide to children and veterans through Partnerships with Missouri Lodges and Chapters. It is the goal of the Masonic Home to reach out statewide financially and nonfinancially to those eligible applicants in distress through the Outreach Services Programs. Basis of accounting: The financial statements have been prepared on the accrual basis of accounting. Classes of net assets: The classification of net assets into the categories of unrestricted, temporarily restrictedand permanently restricted is based on the presence or absence of donor-imposed restrictions, stipulations for use of a contribution that is more specific than broad limits resulting from the Home’s basic mission and environment in which it operates. Temporary restrictions are donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Home pursuant to those stipulations. Permanent restrictions are donor­imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Home. Assets without donor-imposed restrictions are included in unrestricted net assets. When a restriction expires, temporarily restricted net assets are reclassified to unrestricted net assets and repmied in the Statement of Activities as net assets released from restrictions. If a restriction is met in the same period the gift is received, the gift is reported as an addition to unrestricted net assets. Use of estimates: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the repo1ied amounts of assets and liabilities, and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. The significant estimates affecting the financial statements are the net present values of contributions receivable and future cash flows from donor gifts, revenue and liabilities of charitable gift annuities, and useful lives of buildings and equipment for depreciation purposes.

Profile for Missouri Freemasons

Official Proceedings - Grand Lodge MO Communication 2015  

Official proceedings of the One Hundred Ninety-Fourth Annual Communication Columbia Sept 28-29 A.D. 2015 A.L. 6015

Official Proceedings - Grand Lodge MO Communication 2015  

Official proceedings of the One Hundred Ninety-Fourth Annual Communication Columbia Sept 28-29 A.D. 2015 A.L. 6015

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