New Israel Fund Statement of Financial Position
Statement of Activities and Change in Net Assets
As of December 31, 2016 with summarized financial information for 2015
For the year ended December 31, 2016 with summarized financial information for 2015
ASSETS
2016 2015
CURRENT ASSETS
Cash and cash equivalents
$5,380,638
$9,267,349
UNRESTRICTED
9,072,690 9,055,126
Contributions
Pledges receivable, current portion, net of allowance for doubtful accounts of $69,400 and $85,139 in 2016 and 2015, respectively
3,305,631
3,154,212
81,767
126,072
Other revenue
112,444
37,458
17,953,170
21,640,217
Furniture and equipment
2,496,997
2,295,642
Leasehold improvements
222,642
189,458
Prepaid expenses
Total current assets
FURNITURE, EQUIPMENT AND LEASEHOLD IMPROVEMENTS
Less: Accumulated depreciation and amortization
Net furniture, equipment and leasehold improvements
2,719,639
2,485,100
(2,093,685)
(1,881,202)
625,954
603,898
57,971
77,939
OTHER ASSETS
Pledges receivable, net of current portion Deposits
137,211 123,580
Total other assets
195,182
201,519
TOTAL ASSETS
$18,774,306
$22,445,634
LIABILITIES AND NET ASSETS
2016
2015
$1,828,418
$2,004,654
3,917,356
3,958,421
Annuity payable, current portion
15,352
19,251
Deferred rent abatement
31,633
—
5,792,759
5,982,326
231,869
217,505
Deferred rent abatement, net of current portion
98,877
98,194
Annuity payable
33,654
49,006
364,400
364,705
6,157,159
6,347,031
Unrestricted, undesignated
4,239,173
7,102,851
Unrestricted, board designated
3,212,499
2,808,785
Total unrestricted
7,451,672
9,911,636
Temporarily restricted
3,075,562
4,077,989
Permanently restricted
2,089,913
2,108,978
Grants payable
Total current liabilities
LONG-TERM LIABILITIES
Accrued severance
Total long-term liabilities
Total liabilities
TOTAL
Special events
$24,774,057 $1,709,393
— $26,483,450 $32,502,670
489,285 — — 489,285 442,585 92,210 — — 92,210 117,528
Net assets released from donor restrictions
2,783,845
(2,783,845)
—
28,139,397
(1,074,452)
— 27,064,945 33,062,783
TOTAL REVENUE
—
—
EXPENSES PROGRAM SERVICES
Grants
13,541,427 — — 13,541,427 13,851,614
Shatil
4,429,977 — — 4,429,977 4,854,874
Other Programs
4,261,563 — — 4,261,563 4,248,073
Total program services
22,232,967
—
—
22,232,967
22,954,561
Management and general
4,606,072
—
—
4,606,072
4,587,026
Fundraising
3,946,869 — — 3,946,869 3,435,053
SUPPORTING SERVICES
Total supporting services
8,552,941
—
—
TOTAL EXPENSES
30,785,908
—
— 30,785,908 30,976,640
8,552,941
8,022,079
Change in net assets before other items
(2,646,511)
(1,074,452)
167,482 19,065
—
(3,720,963)
2,086,143
72,025
—
239,507
68,626
—
(19,065)
—
—
186,547
72,025
(19,065)
239,507
68,626
(2,459,964)
(1,002,427)
(19,065)
(3,481,456)
2,154,769
OTHER ITEMS
CURRENT LIABILITIES
Accounts payable and accrued liabilities
TEMPORARILY PERMANENTLY RESTRICTED RESTRICTED TOTAL
REVENUE
Investments
Accounts receivable
NET ASSETS
Total net assets
12,617,147
16,098,603
TOTAL LIABILITIES AND NET ASSETS
$18,774,306
$22,445,634
The statement of financial position of the New Israel Fund as of December 31st 2016 and 2015 and related statements of activities and changes in net assets for the years there ended are unaudited. For full financial statements, please visit nif.org/about/financials.
16
2016 2015
Investment income Transfer of assets
TOTAL OTHER ITEMS
Change in net assets
Net assets at beginning of year
9,911,636
4,077,989
2,108,978
16,098,603
13,943,834
NET ASSETS AT END OF YEAR
$7,451,672
$3,075,562
$2,089,913
$12,617,147
$16,098,603
GRANTS TO ISRAELI NOT-FOR-PROFIT ORGANIZATIONS
Program and Support Services Expenditures
$13,541,427
SHATIL
$4,429,977
PROGRAM EXPENSES
$4,261,563
FUNDRAISING
$3,946,869
MANAGEMENT AND GENERAL
$4,606,072
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NIF 2016 Annual Report