IndependentAuditor’sReport
TheBoardofDirectorsof SeedsofPeace,Inc.
Opinion
WehaveauditedthefinancialstatementsofSeedsofPeace,Inc.(anonprofitorganization), which comprise the statement of financial position as of December 31, 2024, and the relatedstatementsofactivities,functionalexpenses,andcashflowsfortheyearthenended, andtherelatednotestothefinancialstatements.
In our opinion, the accompanying financial statements referred to above present fairly, in allmaterialrespects,thefinancialpositionofSeedsofPeace,Inc.asofDecember31,2024, and the changes in its net assets and its cash flows for the year then ended in accordance withaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica.
BasisforOpinion
We conducted our audit in accordance with auditing standards generally accepted in the UnitedStatesofAmerica(“GAAS”). Ourresponsibilitiesunderthosestandardsarefurther describedintheAuditor’sResponsibilitiesfortheAuditoftheFinancialStatementssection of our report. We are required to be independent of Seeds of Peace, Inc. and to meet our otherethicalresponsibilities,inaccordancewiththerelevantethical requirementsrelating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriatetoprovideabasisforourauditopinion.
ResponsibilitiesofManagementfortheFinancialStatements
Management is responsible for the preparation and fair presentation of the financial statementsinaccordancewithaccountingprinciplesgenerallyacceptedintheUnitedStates of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from materialmisstatement,whetherduetofraudorerror.
Inpreparingthefinancialstatements,managementisrequiredtoevaluatewhetherthereare conditions or events, considered in the aggregate, that raise substantial doubt about Seeds of Peace, Inc.’s ability to continue as a going concern for one year after the date that the financialstatementsareissued.
Auditor’sResponsibilitiesfortheAuditoftheFinancialStatements
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree frommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditor’sreportthatincludesour opinion.Reasonableassuranceisahighlevelofassurancebutisnotabsoluteassuranceandthereforeisnot a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement whenitexists.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanforone resultingfrom error,asfraudmayinvolvecollusion,forgery,intentionalomissions,misrepresentations,or the override of internal control. Misstatements are considered material if there is a substantial likelihood that,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencethejudgmentmadeby areasonableuserbasedonthesefinancialstatements.
InperforminganauditinaccordancewithGAAS,we:
Exerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughouttheaudit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraudorerror,anddesignandperformauditproceduresresponsivetothoserisks. Suchprocedures include examining, on a test basis, evidenceregarding the amounts and disclosuresin the financial statements.
Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignauditprocedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectivenessofSeedsofPeace,Inc.’sinternalcontrol. Accordingly,nosuchopinionisexpressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financialstatements.
Concludewhether,inourjudgment,thereareconditionsorevents,consideredintheaggregate,that raise substantial doubt about Seeds of Peace, Inc.’s ability to continue as a going concern for a reasonableperiodoftime.
We arerequired to communicate with thosecharged with governanceregarding, among other matters, the plannedscopeandtimingoftheaudit,significantauditfindings,andcertaininternalcontrolrelatedmatters thatweidentifiedduringtheaudit.
PragerMetisCPAs,LLC
NewYork,NewYork
February10,2026
1,922,883
$2,197,740
StatementofActivities
YearEndedDecember31,2024
WithoutDonorWithDonor RestrictionsRestrictionsTotal Supportandrevenue
Contributions,financial3,061,375$329,111$3,390,486 $ Governmentgrants227,813-227,813 Programservicerevenue576,914-576,914 Investmentreturn66,84522,73689,581
Insurancepay-out75,079-75,079
Netassetsreleasedfromrestriction
Satisfactionofpurposerestrictions69,846(69,846)Expirationoftimerestrictions15,000(15,000)Totalsupportandrevenue 4,092,872267,0014,359,873
Expenses
Programexpenses Regional1,409,851-1,409,851 GATHER907-907 Special1,904-1,904 Camp1,034,604-1,034,604 Totalprogramexpenses2,447,266-2,447,266
Supportingservices
Managementandgeneral1,097,030-1,097,030 Fundraising247,275-247,275 Totalexpenses 3,791,571-3,791,571
Lossondisposalofleaseholdimprovements522,082-522,082
Increase(decrease)innetassets (220,781)267,00146,220
Netassets,beginningofyear1,400,393476,2701,876,663
Netassets,endofyear $1,179,612743,271$1,922,883 $
StatementofFunctionalExpenses
Compensationandrelatedexpenses
Salaries
Directexpenses
$540,016-$-$131,407$671,423$320,424$117,881$1,109,728 $
Backgroundchecks ---2,3522,352--2,352
Baddebt -----25,497-25,497
Bankandcreditcardfees 108---10840,921-41,029
ComputerandITexpenses4,230107--4,33714,05139,13957,527 Consultants 453,40580049167,581522,277258,20912,500792,986
Depreciationandamortization---83,50083,50016,781-100,281
Equipmentleasesandrentals -----2,698-2,698
Equipmentpurchases
3,069---3,06962,606-65,675 Insurance 13,241--23,92137,162100,726-137,888 Interest -----1,133-1,133
Marketingandpromotion6,000--496,0493,825-9,874
Meals/foodservice 1,969--5552,524--2,524
Officesuppliesandexpenses13,329--30,81944,14825,77786570,790 Printingandcopying 542--5041,04613,497-14,543
Programexpenses–other23,834-1809,84233,8561,249-35,105 Rentandutilities 51,028-1,233144,554196,81568,59039,717305,122 Repairsandmaintenance ---3,4943,494--3,494 Scholarships ---210,340210,340--210,340
Totaldirectexpenses
Totalexpenses
YearEndedDecember31,2024 Theaccompanyingnotesareanintegralpartofthesefinancialstatements.
136,678--290,184426,86248,4585,867481,187
Staffandvolunteertraining6,670---6,6701,275-7,945 Telephoneandcommunications5,078--265,1049,274-14,378 Travelandmeetings
719,1819071,904867,7211,589,713694,56798,0882,382,368
$1,409,851907$1,904$1,034,604$2,447,266$1,097,030$247,275$3,791,571 $
NotestoFinancialStatements
December31,2024
Note 1 NatureofActivities
Organization
Seeds ofPeace, Inc.(hereafter referred to asthe“Organization”) is a not-for-profit corporation incorporatedintheStateofDelawareonMarch8,1993.
TheprimarypurposeoftheOrganizationistoempoweryoungleadersfromregionsofconflict with the leadership skills required to advance reconciliation and coexistence. Young teens live togetherinasummercampforthreeweekstolearnconflictmanagementskills.Afterattending camp, the Organization provides participants with follow-up leadership training and dialogue through their college years; and after college, a graduate program to maintain cross-border networkanddialogue.
ProgramsandServicesProvided
The Organization’s six major program areas include the following: US Programs – Local initiativesforCampalumnifromtheUnitedStatesdesignedtoreinforcerelationshipsandbuild leadershipskills;International–ConveningfellowshipprogramsintheMiddleEast,SouthAsia, and the United States for Camp alumni and other change-makers designed to accelerate their impactastheyworkto transform conflict;GATHER–Localand internationalconvenings and fellowship for camp alumni to offer personal and project-based support; Special – Conducting an online course for young adults from India and Pakistan to learn new dialogue skills and operating community based programs in the Middle-East, the United States and Europe with a focus on middle school youth; and Seeds of Peace Camp – Summer leadership development programinMaineforteenagersandeducatorsfromcommunitiesdividedbyconflict.
Note 2 SummaryofSignificantAccountingPolicies
BasisofAccounting
The financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally acceptedin theUnited States of America (“GAAP”) and accordingly reflect all significant receivables, payables, and other liabilities.
Tax-ExemptStatus
The Organization has been granted tax-exempt status by the Internal Revenue Service under InternalRevenueCodeSection501(c)(3)onJuly2,1993.Accordingly,noprovisionforfederal, state or local income taxes has been recorded. The Organization does not believe its financial statementsincludeanyuncertaintaxpositions.
MajorSourcesofIncome
TheOrganizationderivesmostofitsincomefromcontributionsfromindividuals,corporations, foundations,government grants,programservicerevenueandspecialevents.
UseofEstimates
The preparation of financial statements in conformance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosuresofcontingentassetsandliabilitiesatthedateofthefinancialstatementsandreported amounts of revenue and expenses during the reporting period. Actual results could differ from thoseestimatesandassumptions.
NotestoFinancialStatements
December31,2024
Note 2 SummaryofSignificantAccountingPolicies(continued)
NetAssets
Net assets, revenue, gains and losses are classified based on the existenceor absence ofdonoror grantor-imposed restrictions. Accordingly, net assets and changestherein are classified and reportedasfollows:
NetAssetsWithoutDonorRestrictions– Net assets available for use in general operations and not subject to donor (or certain grantor) restrictions. This classification includes net assets designatedbytheboardormanagementforaspecifiedpurpose.
NetAssetsWithDonorRestrictions – Net assets subject to donor (or certain grantor) imposed restrictions.Somedonor-imposedrestrictionsaretemporaryinnature,suchasthosethatwillbe met by the passage of time or other events specified by the donor. Other donor-imposed restrictions are perpetual in nature (endowment) where the donor stipulates that resources be maintainedinperpetuity.
CashEquivalents
For purposes of the statement of financial position and the statement of cash flows, the Organizationconsidersascashequivalentsmoneymarketfundsandallhighlyliquidresources, suchascertificatesofdepositwithanoriginalmaturitydateofthreemonthsorless.
Property,EquipmentandIntangibles
The Organization capitalizes certain property, equipment and intangibles with estimated lives of threeyears ormore. Property, equipment and intangibles are statedat cost, or if donated, at fairvalueon thedate of donation.Depreciation andamortization are computedonthe straightlineand accelerated basis overtherespectiveassets’estimated useful lives of five to ten years. Repairsandmaintenancearechargedtoexpenseasincurredandimprovementsandbetterments thatextendusefullivesarecapitalized.
Contributions
The Organization recognizes contributions when cash and other financial assets, nonfinancial assets/servicesor unconditionalpromisesto givearereceived. Nonfinancial assets/services are valuedbasedonthetypeofassets/servicereceived.Conditionalpromisestogive,whichhavea measurable performance or other barrier and a right of return, are not recognized until the conditionsonwhichtheydependhavebeenmet. Amountsreceivedpriortothemeetingofthese conditions are reported as refundable advances in the statement of financial position. At December 31, 2024, the Organization did not have any conditional pledges that were not recognized.
All contributions are considered available for the Organization’s general programs unless specifically restricted by the donor. Amounts received that are designated for future periods or restrictedforapurposebythedonorarereportedassupportwithdonorrestrictionsandincreases innetassetswithdonorrestrictions.Contributionsreceivedwithrestrictionsthataremetin the same reporting period are reported as support without donor restrictions and increases in net assetswithoutdonorrestrictions.
Note 2 SummaryofSignificantAccountingPolicies(continued)
RevenueRecognition
Investment income and gains are reported based upon the existence or absence of a donor restriction. Restricted investment income is reported as increases in net assets without donor restrictionsifanyapplicablerestrictionsaremetinthereportingperiodinwhichtheincomeand gainsarerecognized.Whenarestrictionexpires,netassetswithdonorrestrictionsarereclassified tonetassetswithoutdonorrestrictions.
TheOrganizationreceivesgrantsfromgovernmentalagencies.Dependinguponthetermsofthe grant, it can be either an exchange transaction or a contribution. In accordance with grant provisions, the grant can be an expense reimbursement grant which requires that approved expenses be incurred prior to reimbursement by the grantor. Other grants permit advances of grant funds or full payment of grant funds at the start of the grant. If the grant is an exchange type grant, all unreimbursed expenses, for approved purposes, as of year-end are recorded as receivablesandanyunexpendedadvancesarerecordedaseitherrefundableadvancesordeferred income. If the grant is a contribution, it is recognized in accordance with the contribution recognitionpolicydescribedabove.
Campfeesrevenuerelatestofeesreceivedinexchangeforattendingcampandalloftheservices providedduringthecampers’timethere.Campfeesarerecognizedattheconclusionofthecamp when obligations are satisfied and benefits are transferred. Camp fees paid in advance are deferredtotheperiodinwhichtherelatedperformanceobligationsaresatisfied.
TheOrganizationreceives specialevents revenuewhichcontainsbothanexchangecomponent and a conditional contribution component. Both components are recognized when the event takesplace. Anyeventrevenuereceivedinadvanceoftheeventisrecordedasdeferredincome.
AllowanceforCreditLosses
The Organization adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 326, FinancialInstruments–CreditLosses. FASB ASC 326 significantlychangedhowentitieswillmeasurecreditlossesformostfinancialassetsandcertain other instruments that are not measured at fair value through net income. The most significant changeinthisstandardisashiftfromtheincurredlossmodeltotheexpectedlossmodel.Under the standard, disclosures are required to provide users of the financial statements with useful informationinanalyzinganentity’sexposuretocreditriskandthemeasurementofcreditlosses. Financial assets held by the Organization that are subject to the guidance in FASB ASC 326 were trade accounts receivable. The impact of the adoption was not considered material to the financialstatementsandprimarilyresultedinnew/enhanceddisclosuresonly.
The allowance for credit losses is the Organization’s best estimate of the amount of probable credit losses. At the balancesheet date, theOrganization recognizesan expected allowance for credit losses. In addition, also at reporting date, this estimate is updated to reflect any changes in credit risk since the receivable was initially recorded. The Organization updated the allowance for credit losses as of December 31, 2024 based on an analysis of past collection trends, current conditions and reasonable and supportable forecasts and changes in individual paymentterms. AtJanuary1,2024,programreceivableamountedto$1,822. AtDecember31, 2024andJanuary1,2024,therewerenoallowancesforcreditlosses.
NotestoFinancialStatements
December31,2024
Note 2 SummaryofSignificantAccountingPolicies(continued)
Investments
All marketable debt and equity securities and mutual funds are measured at fair value on a recurring basis and are reported at their fair market values as of December 31, 2024, in the statementoffinancialposition.
The Organization initially records the investments it receives as a donation at the fair value as of the dates the investments are donated to the Organization and thereafter carries such investmentsatcurrentfairvalues.
FunctionalAllocationofExpenses
The costs of providing various programs and other activities have been summarized on a functional basis in the statement of activities and in the statement of functional expenses. Accordingly, certain costs have been allocated among the programs and supporting services benefited. The expenses that are allocated include salaries and related expenses and outside consultants based on estimated time and effort and all other expenses based on usage. The Organization classifies expenses, which are not directly related to a specific program, as managementandgeneralexpenses.
Leases
Right-of-use (“ROU”) assets represent the Organization’s right to use an underlying asset for the lease term and lease liability represents its obligation to make lease payments arising from the lease. Operating leaseROUassets and liabilities are recognized atthe commencement date of the lease based on the present value of lease payments over the lease term. As most of the Organization’sleasesdonotprovideanimplicitrate,theOrganizationusesarisk-freeratebased ontheinformationavailableatthecommencementdateindeterminingthepresentvalueoflease payments.TheoperatingleaseROUassetalsoincludesany leasepayments madeandexcludes leaseincentives.TheOrganization’sleasetermsmayincludeoptionstoextendorterminatethe leasewhenitisreasonablycertainthattheOrganizationwillexercisethatoption.Leaseexpense forleasepaymentsisrecognizedonastraight-linebasisovertheleaseterm.TheOrganization’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Organization has elected, for all underlying classes of assets, to not recognize ROUassetsandleaseliabilitiesforshort-termleasesthathavealeasetermof12monthsorless at lease commencement. The Organization recognizes lease costs associated with short-term leasesonastraight-linebasisovertheleaseterm.
Note 3 FairValueMeasurementofInvestments
FASB requires enhanced disclosures about investments that are measured and reported at fair value.FASBestablishesahierarchaldisclosureframeworkwhichprioritizesandranksthelevel of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment and the characteristics specific to the investment. Investments with readily available active quoted prices,orforwhichfairvaluecanbemeasuredfromactivelyquotedprices,generallywillhave ahigherdegreeofmarketpriceobservabilityandalesserdegreeofjudgmentusedinmeasuring fairvalue.
toFinancialStatements
December31,2024
Note 3 FairValueMeasurementofInvestments(continued)
Investments measured and reported at fair value are classified and disclosed in one of the followingcategories:
Level 1 –InvestmentsfallingwithinLevel1ofthefairvaluehierarchyarevaluedusinginputs based upon unadjusted quoted prices in active markets for identical investments. Investments that are typically included in Level 1 are listed equity securities, publicly traded mutual funds andexchangetradedfunds.
Level 2 –Investments falling within Level 2 of the fair value hierarchy are valued using significantobservableinputsotherthanunadjustedquotedpriceinactivemarkets.Examplesof Level2inputsaremodel-drivenprices,quotedpricesforsimilarinvestmentsinactivemarkets, and quoted prices for identical or similar investments in inactive markets. Investments that are typically included in Level 2 are municipal bonds, corporate bonds and government debt securities.
Level 3 –Investments falling within Level 3 of the fair value hierarchy are valued using methodologythatisunobservableandsignificanttothefairvaluemeasurement. Level3inputs requiresignificantmanagementjudgmentorestimation. Investmentsthataretypicallyincluded in this category are investments in limited partnerships, and investments in private companies orunregisteredsecurities.
The investment’s fair value measurement level within the fair value hierarchy is based on the lowestlevelofanyinputthatissignificanttothefairvaluemeasurement. Valuationtechniques usedneedtomaximizetheuseofobservableinputsandminimizetheuseofunobservableinputs.
Note 4 CashandCashEquivalents
AsofDecember31,2024,thecomponentsofcashandcashequivalentsareasfollows:
Cashand cash equivalentsincludecashthat isreservedas a compensatingbalance for a lineof creditaspartofaleasestipulationaswellascashthatisrestrictedforanendowment.
Note 5 Property,EquipmentandIntangibles
Property,equipmentand intangiblesbymajorclassconsistedofthefollowingatDecember31, 2024:
Depreciationandamortizationexpensewas$100,281fortheyearendedDecember31,2024.
Note 6 Investments
TheOrganization’sinvestmentsarestatedatfairvalues,basedonquotedpricesinactivemarkets (all Level 1 measurements) and consist of marketablesecuritiesand mutual funds. Fair values atDecember31,2024aresummarizedasfollows:
QuotedPricesin ActiveMarkets forIdentical Assets(Level1)
Note 6 Investments(continued) Investmentreturnconsistsof
$89,581
Note 7 Endowment
As required by GAAP, net assets associated with endowment funds are classified and reported basedontheexistenceorabsenceofdonor-imposedrestrictions.TheOrganization’sendowment is comprised of one donor restricted fund (the “Fund”) which was established to provide investment future program support. When amounts are appropriated for expenditure by the Organization in a manner consistent with the standard of prudence prescribed by New York PrudentManagementofInstitutionalFundsAct(“NYPMIFA”),theOrganizationreclassifiesnet assetswithdonorrestrictionstonetassetswithoutdonorrestrictions.
The Organization follows the provisions of NYPMIFA which allows appropriation or accumulationofsomuchofthedonor-restrictedendowmentasisprudentfortheuses,benefits, purposes and duration for which the Fund is established subject to the intent of the donor as expressed in the gift instrument. As a result, appropriations below the historic dollar value of the Fund’s original gift instrument are permitted unless: the donor of an endowment fund establishedbefore September17,2010,who isavailable,optstoretainthehistoricdollarvalue limitorthedonorofanendowmentfundreceivedafterSeptember17,2010,includesanexplicit prohibitiononspendingbelowhistoricdollarvalue.
In deciding whether to appropriate from an endowment fund, the Organization’s Board of Directors mustact ingoodfaith withthecarethatanordinaryprudent personina likeposition would exercise under similar circumstances. In addition, the following factors must be consideredpriortoappropriation:
(1) ThedurationandpreservationoftheFund
(2) ThepurposesoftheOrganizationandthedonor-restrictedfund
(3) Generaleconomic conditions
(4) Thepossibleeffectofinflationanddeflation
(5) Theexpectedtotalreturnfromincomeandtheappreciationoftheinvestments
(6) OtherresourcesoftheOrganization
(7) Alternatives to expenditure of the Fund, giving due consideration to the effect that such alternativesmayhaveontheOrganization
(8) TheOrganization’sinvestmentpolicies
NotestoFinancialStatements
December31,2024
Note 7 Endowment(continued)
InvestmentReturnObjectives,RiskParametersandStrategies: The Organization has adopted investment and spending policies, approved by the Board of Directors, for endowment assets thatattempttoprovideapredictablestreamoffundingtoprogramssupportedbyitsendowment funds while also maintaining the purchasing power of those endowment assets over the longterm. Accordingly,theinvestmentprocessseekstoachieveanafter-costtotalrealrateofreturn, includinginvestmentincome,withacceptablelevelsofrisk.
Endowment assets are invested in a mix that is intended to result in a consistent inflationprotectedrateofreturnthathassufficientliquiditytomakeanannualdistribution,ifappropriate, whilegrowingthefunds ifpossible.Therefore,theOrganizationexpectsits endowmentassets, overtime,toproduceanaveragerateofreturnofapproximately1%annually.Actualreturnsin any given year may vary from this amount. Investment risk is measured in terms of the total endowment fund; investment assets and allocation between asset classes and strategies are managedinordernottoexposethefundtounacceptablelevelsofrisk.
SpendingPolicy: The donor restriction states that annual distributions from the investment account can be made to support the facilitator training course in Jerusalem. For the first five years, the aggregate distribution is not allowed to exceed the greater of $20,000 or 5% of the total fair market value of the account. After these five years have ended, the aggregate distribution cannot exceed the greater of $25,000 or 7% of the total fair market value of the account.TheOrganizationexpectsthecurrentspendingpolicytoallowitsendowmentfundsto grow at a nominal average rate of 1% annually, which is consistent with the Organization’s objective to maintain the purchasing power of the endowment assets as well as to provide additionalrealgrowththroughinvestmentreturn.
Changes and composition of endowment net assets for the year ended December 31, 2024 are asfollows:
Note 8 PensionPlan
On February 1, 2002, the Organization adopted a salary reduction, 401(K) retirement plan that is funded by voluntary employee contributions and discretionary employer contributions. The planwasconvertedtoatax-deferred403(b)planin2010. Organizationcontributionstotheplan amounted to $6,000 for the year ended December 31, 2024 and is included as a component of employeebenefitsonthestatementoffunctionalexpenses.
NotestoFinancialStatements
December31,2024
Note 9 Leases
OnMarch17,2022,theOrganizationincurredaleaseliabilitybyenteringintoanoncancellable operating lease agreement to obtain a ROU asset. The lease is set to expire in 2025. The lease liability and ROU asset represent the present value of the Organization’s lease obligations and the value of its right to use the leased office space over the remaining term of the lease. Since the lease does not contain a stated interest rate, the lease payments are discounted using the Organization’sincrementalborrowingrateontheleasecommencementdate.
AsofDecember31,2024,theminimumaggregateannualleasecommitmentsareasfollows:
$37,988
$37,658
TotalrentexpensechargedtooperationsfortheyearendedDecember31,2024was$159,607.
AsofDecember31,2024,theOrganization’sweightedaverageeffectivediscount rate was7% andtheweightedaverageremainingleasetermwas3months.
CampLease
TheOrganizationleasespropertylocatedinPleasantLake,Otisfield,Maine,underashort-term, non-cancelableoperatingleasethatexpiredin2024. Theleasewasnotrenewed.
Note 10 Concentrations
InsuranceCoverage
TheOrganizationmaintainsitscash,cashequivalents,andinvestmentsinvariousaccounts. The Federal Deposit Insurance Corporation (“FDIC”) insures bank deposits up to $250,000 per financialinstitution. TheSecuritiesInvestorProtectionCorporationinsurescashandsecurities, includingmoneymarket funds,upto$500,000perfinancialinstitution. Attimes,thebalances oftheaccountshaveexceededtheinsuredlimitsduringtheyearendedDecember31,2024.
Note 11
LiquidityandAvailabilityofFinancialAssets
The Organization regularly monitors liquidity required to meet its operating needs and other obligationsastheycomedue.
For purposes of analyzing resources available to meet general expenditures over a 12-month period,theOrganizationconsidersallexpendituresrelatedtoitsongoingactivitiestobegeneral expenditures. Amounts available for general expenditures over a 12-month period include donor-restrictedamountsthatareavailableforongoingprogrammaticandsupportexpenditures.
NotestoFinancialStatements
December31,2024
Note 11 LiquidityandAvailabilityofFinancialAssets(continued)
Thefollowing reflects theOrganization’s financial assets as of December 31, 2024 reduced by amounts not available for general use within one year because of contractual, donor-imposed, orinternalrestrictionsanddesignations:
Note 12 NetAssetsWithDonorRestrictions
AsofDecember31,2024,netassetswithdonorrestrictionsareavailableasfollows:
Note 13 RevenuefromContractswithCustomers
All of the revenue derived from contracts with customers during 2024 was fully earned in the sameannualreportingperiod. Detailofrevenuefromcontractswith customersduringtheyear endedDecember31,2024isasfollows:
Note 14 SubsequentEvents
ManagementhasevaluatedsubsequenteventsthroughFebruary10,2026,whichisthedatethe financialstatementswereavailabletobeissued.