Financial Summary
During fiscal year 2009, the Community Foundation of North Central Washington distributed over $1.4 million in grants and student scholarships and received more than $1.434 million in contributions. 11 new donor funds were created. Below is financial information based on the Community Foundation's most recent audited financial statement for the last two fiscal years.
| ASSETS |
2009
|
2008
|
|
|---|---|---|---|
|
Cash
|
$2,020,446 | $2,423,859 | |
| Receivables and prepaid | 18,941 | 133,530 | |
| Investments at market value | 27,940,094 | 32,735,377 | |
|
Property & equipment, at cost, net of accumulated depreciation |
521,981 | 358,017 | |
| Total Assets | $30,501,462 | $35,650,783 | |
| LIABILITIES AND NET ASSETS | |||
| Liabilities | |||
| Grants and accounts payable | $447,418 | $430,174 | |
| Funds held as agency endowments | 12,981,166 | 15,093.552 | |
| Unitrust and annuity obligations | 789,041 | 1,014,614 | |
| Total Liabilities | 14,217,625 | 16,538,340 | |
| Net Assets | |||
| Unrestricted | |||
| General/Administrative | 4,396,656 | 5,007,393 | |
| Donor advised | 3,662,455 | 4,291,140 | |
| Total Unrestricted | 8,059,111 | 9,298,533 | |
| Temporarily Restricted | |||
| Charitable Unitrusts | 793,480 | 1,001,937 | |
| General | 3,405,492 | 3,938,221 | |
| Scholarship | 3,748,476 | 4,447,100 | |
| Field of Interest | 244,714 | 309,931 | |
| Fiscal Sponsorships | 32,564 | 116,721 | |
| Total Temporarily Restricted | 8,224,726 | 9,813,910 | |
| Total Net Assets | 16,283,837 | 19,112,443 | |
| Total Liabilities and Net Assets |
$30,501,462 |
$35,650,783 |
|
| STATEMENTS OF ACTIVITIES | |||
| Revenues, gains & other support | |||
| Contributions | $1,434,500 | $1,891,544 | |
| Interest and Dividends | 93,595 | 1,020,534 | |
| Investment gains (losses) | (3,229,752) | (2,111,457) | |
| Other income (expense) | 102,746 | 434,379) | |
| Total Revenues | (1,098,911) | 1,235,000 | |
| Expenses | |||
| Grants and scholarships | 1,410,703 | 1,233,757 | |
| Administrative | 318,992 | 300,118 | |
| Total Expenses | 1,729,695 | 1,533,875 | |
| Increase(decrease) in Net Assets | (2,828,606) | (298,875) | |
| Net Assets, beginning of year | 19,112,443 | 19,411,318 | |
| Net Assets, end of year | $16,283,837 | $19,112,443 | |