Page 48

2015

GRAND LODGE OF MISSOURI

47

Cash and cash equivalents: For purposes of the Statement of Cash Flows, the Home considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents, except for cash funds in the investment pmifolio. The Home maintains cash depository balances at established financial institutions. Accounts at these institutions are insured by the Federal Deposit Insurance Corporation (FDIC). At various times during the year, the Home may have exceeded the FDIC coverage limits. Accounts receivable: Accounts receivable are stated at the amount management expects to collect on outstanding balances. Valuation of investments: Investments in equity securities with readily determinable market values and all debt securities are repmted at fair value. Realized and unrealized gains and losses are reported in the Statement of Activities. Other investments which have been donated to the Home are recorded at estimated fair value at the date of the gift and adjusted thereafter only if there is evidence of impairment of the recorded fair value. Other investments which have been purchased are recorded at cost and adjusted to estimated fair value thereafter only if there is evidence that the fair value is significantly below cost. Land, buildings and equipment: Land, buildings and equipment are recorded at cost, and buildings and equipment are depreciated over their estimated useful lives using the straight-line method. Donated assets are recorded at estimated fair market value at the date of the gift. Maintenance and repairs are expensed when incurred. Expenditures which significantly increase asset values or extend useful lives are capitalized. The Home’s capitalization threshold for land, building, and equipment is $10,000. Contributions received: Contributions received, including bequests and other unconditional promises to give from a donor, are recognized as revenues at their fair values in the period received or in the period the Homeboth becomes aware of the promise and has sufficient information to record it. The Home has infonnation on some promises to give for which sufficient information is not available for the Home to record the amount ofthe promise or to properly classify it. Conditional promises to give are recognized when they become unconditional, that is, when the conditions are substantially met. Non-operating revenue and gains (losses): Items included in this category on the Statement of Activities include all revenues and gains and losses that represent changes to permanently restricted net assets, all other realized and unrealized gains and losses from investments, changes in the value of splitinterest agreementswith donors, and unbudgeted gains and losses from disposal of equipment and other capital assets. Generally, revenues that are budgeted or available for operating purposes are repmted under the unrestricted “operating support and revenue� category in the Statement of Activities. Functional allocation of expenses: The costs of providing the various programs and other activities have been summarized on a functional basis in.the Statement of Functional Expenses. Accordingly, certain costs have been allocated among the programs and supporting services.

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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