American - Press - American Paint Horse Association

Statements of Financial Position
December 31, 2008 and 2007
Assets 2008 2007
Cash $ 102,342 $ 62,981
Cash, restricted 81,257 39,542
Investments, at market value, restricted 710,462 808,923
Accounts receivable, APHA 6,530 8,243
Accounts receivable, restricted 3,358 3,000
Interest receivable, restricted 4,707 5,595
Prepaid expenses 7,062 -
Inventory, restricted 13,500 13,500
Property and equipment, net 1,192 1,881
Collectibles 366,950 366,950
Total Assets $ 1,297,360 $ 1,310,615
Liabilities
Accounts Payable $ 5,195 $ -
Accounts Payable - APHA 2,404 1,668
Note Payable - APHA - 20,943
Total Liabilities $ 7,599 $ 22,611
Net Assets
Unrestricted net assets $ 99,056 $ 65,962
Temporatily restricted assets 535,029 611,523
Permanently restricted net assets 655,676 610,519
Total Net Assets 1,289,761 1,288,004
Total Liabilities and Net Assets $ 1,297,360 $ 1,310,615
Statements of Activities
For the Years Ended December 31, 2008 and 2007
Temporarily Permanently 2008 2007
Support and Other Revenue Unrestricted Restricted Restricted Total Total
Contributions and fund raising $ 70,007 $ 67,103 $ 45,157 $ 182,267 $ 196,201
Investment return - (85,138) - (85,138) 33,450
70,007 (18,035) 45,157 97,129 229,651
Expenses
Scholarships - 40,928 - 40,928 41,000
Fundraising 2,029 5,698 - 7,727 11,751
Management and general 34,884 7,273 - 42,157 53,366
Cost of goods sold - 4,560 - 4,560 2,650
Total Expenses and Reclassification 36,913 58,459 - 95,372 108,767
Increase (Decrease) in Net Assets 33,094 (76,494) 45,157 1,757 120,884
Net Assets at the Beginning ofYear 65,962 611,523 610,519 1,288,004 1,167,120
Net Assets at End of Year $ 99,056 $535,029 $ 655,676 $ 1,289,761 $ 1,288,004
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